Article

CapRock Partners has sold a fully leased 101,332-square-foot industrial warehouse, CapRock Point @ Cheyenne, located near Nellis Air Force Base, to EastGroup Properties for over $21 million. The sale was recorded this month, with CapRock having completed construction on the property in 2022.

The warehouse is situated at the intersection of Cheyenne Avenue and Walnut Road in northeast Las Vegas Valley. EastGroup, based in Ridgeland, Mississippi, has a history of acquiring warehouse properties in Southern Nevada, including a 2019 purchase of an industrial park near Allegiant Stadium for approximately $25.5 million. EastGroup manages a portfolio of around 65 million square feet across high-growth markets in the U.S.