Planning for Northern Beltway Industrial Center Moves Forward
In October, ground will be broken on a new 100-acre, 1.92 million-square-foot industrial complex in North Las Vegas. The Northern Beltway Industrial Center, consisting of seven big-box industrial buildings, will range from 145,600 square feet to 417,500 square feet. The first two buildings are projected to open by July 2007 with build-out completed by 2010.
The project is also expected to relieve the current strain on inventory levels in the Las Vegas industrial market said to be reaching critical levels of shortage. Colliers International/Restrepo Consulting Group reported that Las Vegas, despite adding 3.9 million square feet worth of new inventory, had a low 3.1 percent vacancy rate in the second quarter which is a 2.2 percent drop from the previous year ago.