Thomas & Mack Development Group recently unveiled plans for Las Vegas Northern Beltway Industrial Center, a new 100-acre real estate, 1.92 million-square-foot industrial complex in North Las Vegas, just south of the I-15/215 intersection. The Northern Beltway Industrial Center will consist of seven big industrial buildings, ranging from 145,600 square feet to 417,500 square feet. The initial two buildings, totaling 422,054 square feet, will break ground in October. General contractor is Martin-Harris Construction.
“What really sparked the industrial potential is the opening of the I-15 and Northern 215 Beltway intersection,” said president of Thomas & Mack Development, Robert Snow Jr. “There has been a continued demand from distribution and manufacturing firms to relocate here.”
The Las Vegas commercial real estate project offers M-2 zoned space under long and short-term leases, including build-to-suit availability. Rents have yet to be determined. The first two buildings are expected to open by July 2007.
The tilt-wall and concrete structures offer 28-foot to 30-foot clear heights with divisibility down to 28,168 square feet. Both buildings offer flexibility, with ground-level and dock doors for rear- or cross-dock loading. Located at El Campo Grande Avenue and Range Road, the project is situated near similar heavy-industrial use sites, including: Meadow Gold Dairy’s 200,000-square-foot raw-milk processing plant real estate at Centennial Parkway and I-15; Sysco Food Services’ distribution center real estate at Centennial Parkway and Mt. Hood Road; Kinder Morgan’s tank depot at 5049 N. Sloan Lane; and Drescher Corp.’s 330,000-square-foot cold-storage facility, at Tropical Parkway and Hollywood Boulevard.
The Thomas & Mack real estate project, Northern Beltway Industrial Center in Las Vegas, Nevada, is expected to help relieve the Valley’s industrial market, which had a low 3.1 percent vacancy rate in second quarter. That is a 2.2 percent drop from a year ago, despite adding 3.9 million square feet worth of new Las Vegas commercial real estate during the same time frame, reports Colliers International/Restrepo Consulting Group.
“We’ve had 10 consecutive quarters of declining industrial vacancy rates,” said John Restrepo, principal of Restrepo Consulting Group, a local real estate-research firm. “The demand for industrial space has grown to the point that our inventory of available product is declining to critical levels.” The Northern Beltway Industrial Center by Thomas & Mack Development Group is expected to reach build-out by 2010. Source: LV Review Journal
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Thomas & Mack Development Group plans Las Vegas Northern Beltway Industrial Center real estate.
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