Industrial · Las Vegas, Nevada
Stadium Industrial Park
Stadium Industrial Park is financed with a $7.5M CMBS loan at 3.593% that reaches maturity on February 11, 2032, in 5 years and 3 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $7,500,000
- Original balance (same notes)
- $7,500,000
- Interest rate
- 3.593% fixed
- Originated
- January 21, 2022
- Maturity
- February 11, 2032
- Payments
- Interest only for the full term
- Prepayment lockout ends
- August 10, 2031
- Master servicer
- Trimont LLC
- Originator
- Wells Fargo Bank, National Association
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 3876 Ponderosa Way, 5979 South Valley View Boulevard, 3911 & 3921 West Oquendo Road, Las Vegas, NV 89118
- Metro
- Las Vegas-Henderson-North Las Vegas, NV
- Rentable area
- 80,206 sq ft
- Built
- 1963, renovated 2016
- Largest tenants
- Gexpro; Pink Jeep Tours Nevada LLC; T & M Automotive Inc
- Value at securitization
- $13.4M (Dec 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 2.59x | 2.38x |
| Occupancy | 100% | 75% |
| Net operating income (annualized from 6 months) | $707K | $654K |
| Debt yield | 8.7% |
Debt yield here is the latest NOI divided by the balance held in the trusts below. If part of the loan sits outside them, the true figure is lower.
Watch flags
Computed from the BANK 2022-BNK40 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Occupancy down 10 points or more from securitization
- Largest tenant's lease ends within 12 months
cmbs.news's own rule-based labels on the filed fields (definitions), not a credit rating, a prediction or a view of the borrower.
What the filing shows
- Occupancy has fallen from 100% when the loan was securitized to 75%.
- Net operating income is 7% below the underwritten figure ($654K a year against $707K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 2.59x at securitization to 2.38x on the latest statements.
- The filing gives Jan 2027 as the lease end date for the largest tenant (Gexpro), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $7.5M | Current | No | 2.38x | 75% |
| August 2026 | $7.5M | Current | No | 2.38x | 75% |
| July 2026 | $10.0M | Current | No | 2.87x | 90% |
| June 2026 | $7.5M | Current | No | 3.58x | 75% |
| May 2026 | $7.5M | Current | No | 3.58x | 75% |
| April 2026 | $7.5M | Current | No | 3.33x | 100% |
| March 2026 | $7.5M | Current | No | 3.33x | 100% |
| February 2026 | $7.5M | Current | No | 3.33x | 100% |
| January 2026 | $7.5M | Current | No | 3.33x | 100% |
| December 2025 | $7.5M | Current | No | 3.33x | 100% |
| November 2025 | $7.5M | Current | No | 3.33x | 100% |
| October 2025 | $7.5M | Current | No | 3.52x | 100% |
From each trust's ABS-EE filing for that month. Coverage and occupancy change only when the servicer reports new statements. If one trust holding a piece of the loan skipped a month, that month's balance reads low.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BANK 2022-BNK40 | 33 | $7,500,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Las Vegas-Henderson-North Las Vegas loans due in 2032
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| 6543 Las Vegas Boulevard South | Las Vegas, NV | Office | $114.7M | 4.25% | Jan 2032 | n/a | n/a | Current |
| Walgreens - Las Vegas | Las Vegas, NV | Office | $80.0M | 5.06% | Jun 2032 | n/a | n/a | Current |
| Green Valley Corporate Center North | Henderson, NV | Office | $37.0M | 5.29% | Aug 2032 | 1.63x | 68% | Current |
| Mountain's Edge Marketplace | Las Vegas, NV | Retail | $33.0M | 4.51% | Mar 2032 | 2.29x | 100% | Current |
| Green Valley Corporate Center South | Henderson, NV | Office | $29.4M | 5.75% | Oct 2032 | n/a | n/a | Current |
| Eastgate Plaza, Henderson | Henderson, NV | Retail | $22.3M | 4.085% | Feb 2032 | 2.51x | 93% | Current |
| 2470 2490 Paseo Verde Pkwy | Henderson, NV | Office | $20.1M | 5.99% | Oct 2032 | 1.26x | 74% | Current |
| Marnell Corporate Center 3 | Las Vegas, NV | Office | $15.1M | 5.378% | Aug 2032 | 1.44x | 90% | Current |
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 11, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.