Koll Spends $18.5M on Las Vegas Chef’s Warehouse
connectcre | April 21, 2023
The Koll Company announced an $18.55 million, all-cash purchase of the Chefs’ Warehouse building at 4248 West Post Road. This latest acquisition brings their total Las Vegas portfolio to just under one million (1,000,000) square feet.
The 79,998-square-foot building is LEED Certified and was built in 2015 for Chefs’ Warehouse, a specialty wholesale food distributor that services restaurants, hotels, country clubs and fine food stores throughout North America and the world.
Located near Raider Stadium, the building is approximately 60% temperature controlled, ranging from -10 degrees for freezer to up to 60 degrees for a chocolate/dessert storage area. Chefs’ Warehouse has 12 years left on their initial lease, with options for additional terms thereafter.
“Despite the country’s recent economic uncertainty, the Las Vegas market remains resilient and strong,” said Koll’s Scott Meserve. “We are very bullish on this region and believe that it will continue to grow and expand.”
Newmark brokered the transaction, representing both the seller and purchaser.