LAS VEGAS — Dermody Properties, a national industrial development and operating company headquartered in Nevada, recently leased the remaining portion of its latest Las Vegas industrial development, LogistiCenter(SM) at Cheyenne, to Priority Wire & Cable, Inc., a premier supplier of wire and cable for wholesale distributors. LogistiCenter(SM) at Cheyenne will serve as a distribution center for Priority Wire & Cable, which also has distribution centers nationwide and in Canada.
Priority Wire & Cable has leased the remaining 223,000 square feet of LogistiCenter(SM) at Cheyenne, a 381,804-square-foot distribution facility occupying 20 acres at 4025 East Cheyenne Ave. in the North Las Vegas submarket. The company currently occupies a 180,000-square-foot distribution center in Las Vegas, and will be moving from their current facility to LogistiCenter(SM) at Cheyenne. Priority Wire & Cable expects to be fully operational in its new facility by May 2016. The move has already begun and will be seamless to their customers.
Dermody Properties and its joint venture partner, Hillwood Investment Properties (Hillwood) broke ground on LogistiCenter(SM) at Cheyenne in May 2015. In July, the companies leased 148,635 square feet of the facility to Southern Enterprises, a home furnishings designer and manufacturer.
LogistiCenter(SM) at Cheyenne is near both FedEx and UPS, and is two miles east of Interstate 15. Priority will use the location to service its West Coast Customers, most with next day service due to the location.
“We are happy to welcome Priority Wire & Cable to LogistiCenter(SM) at Cheyenne,” said George Condon, Partner, Dermody Properties West Region Office. “Southern Nevada is an excellent location for companies that need to reach their customers quickly, and with this facility now completely leased, we look forward to our next opportunity to develop in this market.”
Dermody Properties has been involved in the Las Vegas industrial market since 1974 and has developed more than four million square feet in the market since that time.
Condon and West Region Development Director Brendan Egan managed the project for Dermody Properties, and Nevada-based United Construction Company is the general contractor on the project. Colliers International Las Vegas Vice President Susan Borst and Executive Vice President Dan Doherty represented Dermody Properties in the lease.
Dermody Properties is a privately held, industrial real estate development company. Founded and headquartered in Reno, Nev., the company has a national development reach, served by its regional offices in Chicago, Northern New Jersey, Phoenix, and Seattle. Over its 50-year history, the company has developed and leased more than 45 million square feet of high quality facilities to many Fortune 500 companies and other well-respected firms. To learn more about Dermody Properties visit www.Dermody.com.
Priority Wire & Cable, Inc. is a privately held wire and cable supplier exclusively serving wholesale distributors. Founded in 1993 in Little Rock, AR they now have twelve warehouse locations within North America reaching 90% of their customers overnight. They stock a wide variety of wire and cable products most of which are factory priced under the Priority Wire & Cable brand. To learn more about Priority Wire & Cable visit www.prioritywire.com.