CIT Group announced that its Real Estate Finance business provided financing for construction of a new 730,000-square-foot logistics center and campus in North Las Vegas, Nevada.
 
Construction on the SunPoint West facility is expected to begin in April and conclude in approximately 12 months. The campus is located near Interstate 15 in North Las Vegas, well-known as an attractive area for shipping and logistics centers.
 
"The Greater Las Vegas region continues to emerge as a crossroads for goods shipping to such markets as Los Angeles, Salt Lake City and of course Las Vegas itself," said Mike Orr, Senior Vice President with SunCap Property Group. "We anticipate there will be continued demand for logistics centers like SunPoint West to support that growth."

"SunCap Property Group is an experienced developer with a deep understanding of the commercial real estate market in the Greater Las Vegas region," said Chris Niederpruem, managing director and group head for CIT's Real Estate Finance business. "We were pleased to support them with the financing for this project and look forward to its successful completion and operation."