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Investor Group Moving Toward Development at Apex

LAS VEGAS-With the undeveloped industrial park now part of the City of North Las Vegas, the investors who own the chunk closest to existing utilities is gearing up for development.

By Brian K. Miller | Updated on August 01, 2008

LAS VEGAS-The owners of a 365-acre chunk of the sprawling Apex Industrial Park closest to existing utilities is gearing up for development – 19 years after the 21,000-acre area was set aside for development. The City of North Las Vegas earlier this year annexed 12,000 acres of the park and will now supply municipal water to the property. Mason Harvey, the local broker and investor leading the ownership group, tells GlobeSt.com that a county sewer connection also is in the works along with Foreign Trade Zone status, setting the stage for some 6 million sf of industrial and R&D/office development on its piece of the park, which it has named City View Business Park.

The bulk of Apex sits along Interstate 15 just outside the Las Vegas Valley, several miles past the Las Vegas Motor Speedway and the Manheim Auto Auction on the way to Salt Lake City. The chunk Harvey’s group owns, previously known as North Hills, sits just inside the Las Vegas Valley, several miles closer than much of the rest of the acreage, and touches both the Interstate and the main Union Pacific Railroad line. Harvey tells GlobeSt.com this will allow his group to develop both multi-story office/R&D product with views of the Valley and rail-served big-box industrial with direct access to the Interstate, Harvey says. Moreover, he says, City View will be the first Apex project out of the ground.

“We can and will develop this; we own it free and clear and we have all the approvals for water and sewer so it’s just a matter of going through the process,” says Harvey, a commercial broker with Prudential Americana. “We could develop it on our own but what we’d prefer to do is bring in a joint venture partner; we’re talking with national and regional companies and will make a decision [soon].”

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