Cushman & Wakefield Represents Festival Tenant in 5-Year Lease Expansion within North Las Vegas Industrial Submarket

Insomniac takes an additional 107,000 sf at Lone Mountain Corporate Center

LAS VEGAS– June 24, 2019 – Cushman & Wakefield announced today, Insomniac Holdings, LLC, a leading event management company with headquarters in Beverly Hills, California, has signed a 5-year lease at Lone Mountain Corporate Center in the North Las Vegas industrial submarket of Southern Nevada. Senior Directors, Alma Cuevas and Jason Griffis, from Cushman & Wakefield represented the tenant at the project.

Insomnaic will occupy an additional 107,000 square feet of industrial space and double their existing, adjacent facility within the industrial complex. Insomniac oversees event management for popular shows including the Electric Daisy Carnival, Nocturnal Wonderland, and Audiotistic.

According to Cushman and Wakefield’s research, more than 80% of all new distribution and logistics properties in the metro area are being constructed in North Las Vegas. The only other submarket with multiple industrial construction projects underway is the Southwest. Neither submarket shows any signs of slowing in terms of absorption and new construction. North Las Vegas and Southwest submarkets will continue to outperform all other industrial submarkets through the end of 2019.

“Southern Nevada’s industrial market is active and popular for the event-entertainment industry, especially surrounding outdoor festivals. Our clients’ customers are looking for a plus experience- music plus special effects, atmosphere plus great food,” said Alma Cuevas, Senior Director, Cushman & Wakefield. “The event industry is diversifying its scope of services, and we represent tenants in the market who are approaching their real estate search with the opportunity to expand their operation as their industry demands more and more innovation,” added Cuevas.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

2019-06-24T17:07:59-04:00June 24th, 2019|In the News|