AEW buys 350K SF, industrial building for $54M ($154psf) in Las Vegas from Investment & Development Ventures

12/20/2024

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CPE

• Subcategory: Industrial: Distribution, Industrial: Warehouse

• Tag: Sale

• Additional Filters-Tags: Sale: Investment, Sale: Single Property

• Company: AEW Capital Management, Jones Lang LaSalle (NYSE: JLL)

Investment & Development Ventures has sold IDV Speedway, a 349,875-square-foot industrial building in Las Vegas. AEW Capital Management paid $54.3 million for the Class A property, according to Clark County public records. JLL worked on behalf of the seller.

IDV Speedway came online in the first quarter of this year at 5150 N. Sloan Lane. Investment & Development Ventures had acquired the 19-acre development site in 2022 for $12.4 million, according to CommercialEdge.