Las Vegas, NV, May 13, 2025 — Colliers is pleased to announce the successful sale of a three-property industrial portfolio in Las Vegas, Nevada, totaling 147,917 square feet across land and buildings. The portfolio sold for over $21 million to an affiliate of Panattoni Development. Colliers’ Executive Vice President Brian Riffel and Vice President Tyler Jones represented the buyer. The seller, Aristocrat Technologies, was self-represented.
This transaction marks the culmination of a pursuit that began more than five years ago, with the Colliers team negotiating the deal approximately four years ago. Their extensive familiarity with the assets, developed through prior assignments with the seller, played a pivotal role in the successful acquisition.
The portfolio includes:
- 3300 Birtcher Drive: A ±140,000-square-foot office and warehouse facility that has served as a national distribution and assembly center for the seller.
- 3515 Birtcher Drive: A ±9,000-square-foot warehouse building with yard space.
- 3465 Birtcher Drive: A fully improved, ±1-acre paved lot previously utilized for overflow parking.
Aristocrat Technologies will maintain occupancy of the property for several months while completing their transition to a larger, newer facility to accommodate their continued growth.
Panattoni Development plans to rehab and reposition the properties, with the intent of leasing or selling the finished product.
“We’ve been familiar with this portfolio for years,” said Riffel. “Our long-term knowledge of the assets and relationship with the seller were key to getting this complex transaction across the finish line. Panattoni has an exciting vision for these properties, and we’re proud to have helped make it a reality.”
The Las Vegas industrial market has seen strong demand driven by e-commerce growth, supply chain reconfiguration, and continued population expansion. This acquisition positions Panattoni to capitalize on that demand by bringing a refreshed, well-located product to market.
“We are excited to add these properties to our Las Vegas portfolio,” said Southern Nevada Local Partner Phillip Dunning at Panattoni Development. “The Birtcher Drive assets offer an outstanding opportunity for us to deliver high-quality, modernized industrial space to meet the growing demand in this market. We look forward to repositioning these assets and creating long-term value for our tenants and partners.”
Media Contact
Ashley Jeanes
PR & Communications Specialist
U.S. West Region
ashley.jeanes@colliers.com
+1 214 706 6053
About Colliers
Colliers is a global diversified professional services and investment management company. Operating through three industry-leading platforms – Real Estate Services, Engineering, and Investment Management – we have a proven business model, an enterprising culture, and a unique partnership philosophy that drives growth and value creation. For 30 years, Colliers has consistently delivered approximately 20% compound annual returns for shareholders, fueled by visionary leadership, significant inside ownership and substantial recurring earnings. With nearly $5.0 billion in annual revenues, a team of 23,000 professionals, and more than $100 billion in assets under management, Colliers remains committed to accelerating the success of our clients, investors, and people worldwide. Learn more at corporate.colliers.com, X @Colliers or LinkedIn.
