Stonemont Financial Group, a private real estate investment firm specializing in industrial real estate investments, has announced that it has closed on a 3.87-acre site located at 4860 E La Mancha Ave in the North Las Vegas submarket of Las Vegas. Stonemont will combine the acquisition with their neighboring 4.86-acre site, located at 4820 E La Mancha Avenue, creating an 8.73 AC contiguous parcel that will be fully repositioned into a Class A industrial outdoor storage facility.
The North Las Vegas Submarket makes up 43% of Class A market share of Las Vegas’ industrial inventory, which equates to 69 million square feet of product in the market. 2023 proved to be a record year for the greater Las Vegas area with 11.3 million square feet of industrial space delivered, with another 4.4 million square feet completed in Q1 of 2024 alone.
“As industrial demand continues to grow in the land constrained submarket of North Las Vegas, the need for quality, large-scale outdoor storage space in the area has become evident,” said Ryan Meehan, Senior Vice President at Stonemont. “This location will provide prospective users with a fully improved, Class A outdoor storage option with excellent proximity to major transportation arteries and rare available frontage on Interstate 15.”
Jason Griffis of Cushman & Wakefield represented Stonemont in the transaction.
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About Stonemont Financial Group
Stonemont Financial Group specializes in investing across a broad spectrum of real estate asset classes and geographies, specializing in industrial, net lease, and healthcare real estate. to deliver attractive risk-adjusted returns. Stonemont offers diversified and differentiated real estate investment strategies and vehicles to institutions, family offices, trusts and high net-worth individuals. With a combined track record of over 60 years of experience and $20 billion invested, Stonemont’s founders and managing principals are committed to delivering attractive risk adjusted returns.
