Investment & Development Ventures has sold AEW Capital Management paid .3 million for IDV Speedway, a 349,875-square-foot Class A industrial property in Las Vegas. JLL worked on behalf of the seller, Investment & Development Ventures.

IDV Speedway came online in the first quarter of this year at 5150 N. Sloan Lane. Commercial Edge reports Investment & Development Ventures had acquired the 19-acre development site in 2022 for $12.4 million.

Currently vacant, the one-story building includes an approximately 4,200-square-foot office component. Furthermore, the property features an additional 1.5-acre site for extra parking spaces.

The industrial asset is in the North Las Vegas submarket, in an area with tenants such as FedEx, Amazon, Prologis, DHL and Lowe’s.

JLL’s Mark Detmer, Rob Lujan and Jason Simon with the firm’s Las Vegas Markets Team, led negotiations on behalf of the seller.