Rockefeller Group Signs 141,540 SF Industrial Lease at Craig Road Logistics Center in North Las Vegas

Rockefeller Group has signed a 141,540-square-foot industrial lease with packaging manufacturer and recycler ALPLA at Craig Road Logistics Center in North Las Vegas, Nevada, the firm announced August 27, 2026.

The transaction represents a full-building lease of the smaller of two Class A industrial buildings within Craig Road Logistics Center, a two-building, 369,198-square-foot speculative development situated on a 19-acre site at 4340 North Nellis Boulevard, at the intersection of Craig Road and North Nellis Boulevard.

Building Specifications

The leased building totals 141,540 square feet and features 32-foot clear height, 18 dock doors, and 219 auto parking stalls. The second building at Craig Road Logistics Center spans 227,660 square feet and offers 36-foot clear height, 29 dock doors, and 176 auto parking stalls.

Jason Simon and Rob Lujan of JLL are marketing and representing the buildings on behalf of Rockefeller Group.

Retail-to-Industrial Conversion

Craig Road Logistics Center was developed on a former Walmart Supercenter site that Rockefeller Group acquired and redeveloped into the two-building speculative industrial complex. The project reflects a broader retail-to-industrial conversion trend in which large, well-located former retail properties are repositioned to serve logistics and manufacturing users.

The ALPLA lease stabilizes the smaller building at the project and follows a pattern Rockefeller Group has established across multiple North Las Vegas developments. The firm developed Cheyenne Industrial Park, a two-building, 145,630-square-foot complex at 3130 N. Lamb Boulevard and 4375 E. Cheyenne Avenue, and subsequently sold a 104,440-square-foot building within that project at 3130 N. Lamb Blvd. for $23.5 million. The firm has also acquired a six-acre parcel to develop Nellis Logistics Center, a planned 134,100-square-foot speculative distribution facility at the southwest corner of North Nellis Boulevard and East Carey Avenue, with planned specifications including 32-foot clear height, 83 parking stalls, and a 135-foot truck court.

North Las Vegas Industrial Market Context

The lease comes as the North Las Vegas industrial submarket leads the broader Las Vegas region in net absorption. Las Vegas industrial vacancy stood at 12.4% in the second quarter of 2026, with 2.8 million square feet of net absorption outpacing 1.9 million square feet of construction deliveries in the first half of the year, tightening vacancy by 60 basis points compared to year-end 2025. North Las Vegas recorded 0.7 million square feet of net absorption in the second quarter alone, the highest of any submarket in the region.

Vacancy in the Las Vegas industrial market has remained in double digits since the fourth quarter of 2024, reflecting a supply wave that followed the pandemic-era demand surge. As of the fourth quarter of 2025, Las Vegas industrial vacancy stood at 11.3%, a 20-basis-point quarterly decline but a 100-basis-point increase year-over-year. Demand has been shifting toward modern, mid-bay space of the type represented by Craig Road Logistics Center.

About the Tenant and Landlord

ALPLA is a packaging manufacturer and recycler. Rockefeller Group is the landlord and developer of Craig Road Logistics Center.

Sources: Rockefeller Group