Cambridge Companies and Diamond Rock Partners Announce 1 Million Square Feet of Industrial Space in Las Vegas

NEW YORK--()--Cambridge Companies, LLC, of Las Vegas, Nev., and Diamond Rock Partners, LLC, of Santa Monica, Calif., are pleased to announce a partnership that brings 1 million square feet of industrial employment space to Las Vegas, Clark County, Nev.

“We’re excited to work with Diamond Rock Partners on another industrial joint equity partnership in Las Vegas, Nev.”

Cambridge Companies is a highly respected land developer and investor with over 20 of its 55 years of experience focused on Las Vegas. “Cambridge Companies is pleased to provide zoning and entitlement expertise that will bring much needed industrial inventory of larger buildings to market, create employment opportunities for our community, and utilize sustainable land use and building practices,” says Filipp Chebotarev, Chief Operating Officer of Cambridge Companies. Chebotarev adds, “The building of large industrial spaces will enable Las Vegas to compete with other West Coast cities for businesses looking to relocate or expand.”

“We are excited to acquire another sizeable industrial land parcel in Las Vegas, a market which is ripe for big-box industrial development. With this acquisition, we will control over 50 acres for the development of approximately 1 million square feet of industrial space in Las Vegas, providing a unique opportunity for the many end users seeking larger facilities,” said David Makharadze, Managing Partner of Diamond Rock Partners.

“In 2015, Las Vegas will be poised for a significant rise in the industrial market sector,” says Cambridge Companies Vice-President Polina Chebotareva. Industrial vacancies in Clark County are down below 8% overall and below 1% for big-box distribution or facilities that exceed 150,000 square feet. The brother and sister management team at Cambridge Companies have invested significantly in distribution and manufacturing sectors in Las Vegas, Nev.

“Cambridge Companies has been a strong joint equity partner and continues to be a strategic partner in Las Vegas for Diamond Rock Partners, LLC. We look forward to building a long term relationship across many projects together,” said Mo Zahrawi, Managing Partner of Diamond Rock Partners.

Cambridge Companies President Michael Bash commented, “We’re excited to work with Diamond Rock Partners on another industrial joint equity partnership in Las Vegas, Nev.”

“Our research in the North Las Vegas market provides a clear picture for the future, which we are excited to be a big part of,” says Kamau Coleman, Managing Partner of Diamond Rock Partners.

Diamond Rock Partners, LLC is a privately held real estate owner and investment company managed by four partners: David Makharadze, Kamau Coleman, Mo Zahrawi and David Effress. The firm advises and invests alongside high net worth and institutional clients in a broad range of commercial and residential real estate, including property acquisitions, development, construction and repositioning. More information on Diamond Rock can be found on their website here.

Cambridge Companies, LLC is a buyer of REO and distressed land in the Las Vegas market and submarkets. The company has a rich 55 year history and has been operating in Las Vegas, Nev., for 20 years. Our strategy is to acquire distressed land parcels in highly desirable areas, add value through cost effective administrative measures and sell to development partners for a profit. More information on Cambridge Companies can be found on their website here.

Contacts

Cambridge Companies, LLC
Filipp Chebotarev, 888-615-6166
info@CambridgeCompanies.us
or
Diamond Rock Partners, LLC
David Makharadze, 310-463-0464
david@diamondrockpartners.com