LPC’s development, investment, and management activity in the state exceeds 6.1 million square feet
LAS VEGAS, Nevada, August 29, 2023 – Lincoln Property Company’s Southwest division, LPC Desert West, has established an office in Nevada, hiring a locally based team to oversee the company’s rapidly growing commercial real estate footprint in Las Vegas and Reno.
Based in Phoenix, LPC Desert West since 2001 has developed over 15 million square feet, acquired more than 6 million square feet, and currently manages almost 21 million square feet of institutional-grade commercial space in a region spanning Arizona, Utah, Nevada, and New Mexico.
Nevada represents 6.1 million square feet of that activity, including a 769,572-square-foot investment portfolio and a 1.5 million-square-foot new development that is currently under construction. It also includes 3.7 million square feet of property management activity through a mix of owned and third-party assets.
“Las Vegas and Reno have experienced incredible industrial growth, much like we’ve seen in Phoenix,” said LPC Senior Executive Vice President David Krumwiede. “It is exciting to have our Nevada office officially open and our boots-on-the-ground experts in place so that we can bring our full set of investment, development and management skills to bear in Nevada as we’ve done in Phoenix for more than two decades.”
The new LPC Nevada office team includes Senior Property Manager Jessica Saldana, Property Manager Aurora Murtey, Assistant Property Manager Haley Novak and Senior Building Engineer Jeff Robins.
The office manages almost 770,000 square feet of LPC-owned space at West Craig Industrial Center in North Las Vegas and six buildings within Hughes Airport Center near Harry Reid International Airport. It also manages an institutional-grade industrial portfolio totaling 30 buildings and 3.7 million square feet in Las Vegas and Reno. That space is part of a larger, 8.1 million-square-foot regional industrial portfolio that LPC manages for the institutional owner across Arizona, Nevada and New Mexico.
“Our property management presence in Nevada has grown from assisting with acquisition and due diligence services into a full management, leasing and construction management scope of work,” said LPC Desert West Managing Director Julie Cornelius. “We have put our market knowledge to work, and continue to grow the value of our owned and third-party properties through strategic management and leasing.”
On the development front, LPC is building the Class A, 1,585,440-square-foot Windsor Commerce Park. The project is LPC’s first ground-up industrial development in Nevada and one of the largest underway in the Las Vegas market. Slated for completion during the third quarter of 2024, Windsor Commerce Park will total eight buildings and 86 acres located directly across the street from North Las Vegas Airport, on the northeast corner of Carey Avenue and Simmons Street, and visible from U.S. Route 95.
“We were drawn to Nevada by its strong fundamentals and those factors continue to drive our growth plan in the state,” said Lincoln Property Company Senior Vice President John Orsak. “We are actively operating in both Las Vegas and Reno, and looking to increase that activity in the years ahead.”
LPC is actively seeking new investment, development and management opportunities in Las Vegas and Reno, including opportunities currently under negotiation.
For more on leasing, investment or property management opportunities with Lincoln Property Company in the Desert West region, please call David Krumwiede or John Orsak at (602) 912-8888.