Southern Nevada contractor buys Apex land for $2.6M

That’s one cheap mountain.

Construction contractor Weston Adams last month bought 652 acres of land at Apex Industrial Park for $2.6 million. The site includes a mountain that, according to Clark County records, stands about 900 feet high.

He paid just under $4,000 an acre, a fraction of what homebuilders, apartment developers and others pay for land. But the property sits in an isolated industrial zone northeast of Las Vegas, and Adams plans to level the mountain for construction materials, not build a lucrative housing development.

His purchase comes as construction keeps picking up around the Las Vegas Valley, creating a bigger pool of possible users for Adams’ mining, and as other investors also put money into Apex, albeit with mixed results.

Adams, president of Western States Contracting, is no stranger to Apex. He bought almost 320 acres of land there last year for $735,000, or $2,300 per acre, property records show. Apex locator (Wes Rand Las Vegas Review-Journal)

Adams said on Wednesday that he plans to level the newly acquired mountain, which he said has large reserves of materials such as limestone that can be used in construction projects.

‘Definitely a bargain’

Adams figures it would take 30 to 50 years to flatten the mountain, and he would potentially sell crushed rock to other construction companies or use it himself. As a contractor, Adams said he works mostly “from the ground down,” on utilities, roads and the like.

Western States is based on West Cheyenne Avenue next to North Las Vegas Airport, but Adams said he’s considering moving the company to Apex, which he views as a growth area. He cited North Las Vegas Mayor John Lee’s efforts to spark development there and envisions selling project sites to industrial companies.

Also, the mountain’s purchase price was “definitely a bargain,” he said.

Overall in Southern Nevada, land buyers paid an average of more than $300,000 per acre in the first quarter, according to figures from brokerage Colliers International.

Adams bought the property June 23 from Los Angeles investment firm Colony NorthStar. Formerly known as Colony Capital, the company acquired the site through foreclosure in 2011, records show.

Colony declined to comment.

Flatten it

The site was previously owned by Visicon Group founder Darren Petersen, who by 2007 had filed plans for an asphalt batch plant and rock crusher, county records show. By 2009, there also were plans to level the mountain, a proposal that concerned county staff.

They cited development design standards that aimed to “maximize compatibility with the natural terrain, preserve sensitive environments on the hillside, and encourage the conservation of these areas as visual resources,” records show.

In the end, Petersen apparently left the site untouched — Adams said the property hasn’t had any alterations or development.

Petersen did not respond to requests for comment this week.

Apex, at Interstate 15 and U.S. Highway 93, has plodded along for years with little development, but two new projects there have sparked hopes of a growth spurt and broader economic impact.

Faraday Future, backed by $335 million in Nevada Legislature-approved incentives, has laid out plans for a 3.4 million-square-foot plant that would produce up to 150,000 electric cars per year. The Chinese-backed startup broke ground on the project last year, but construction has stalled amid reports of financial troubles.

Meanwhile, high-speed-transit startup Hyperloop One announced in April that it completed its 1,640-foot long “DevLoop” test track in Apex.

State officials in March 2016 approved a reported $9.2 million worth of incentives for Hyperloop.

More projects could be on the way. Faraday’s plant is the largest project under construction at Apex, but officials are working with a couple of users that would each “account for more capital investment and job creation than Faraday,” North Las Vegas government spokeswoman Delen Goldberg said in an email.

Goldberg declined to elaborate, saying she was bound by nondisclosure agreements.

Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.

ad-high_impact_4
Local
Underground home was built as Cold War-era hideaway
The underground house at 3970 Spencer Street is one of the valley’s most unusual homes built 26 feet underground in 1978 by Girard “Jerry” B. Henderson, who, planned to survive the end of the world there.
Lip Smacking Foodie Tours takes you where the locals go
Donald Contursi talks about Lip Smacking Foodie Tours, which offers walking tours of restaurants on and off Las Vegas Boulevard with food samples and tidbits of history about the places they visit.
Bump stock manufacturers under fire
The Justice Department said last month that it had started the process to amend federal firearms regulations to clarify that federal law defines bump stocks as machine guns.
Art Bell’s Top 10 Shows
A selection of radio host Art Bell’s most popular shows.
Longtime Las Vegas attorney John Momot dies at age 74
Criminal defense attorney John Momot, who represented mob figures and even played himself in the movie “Casino,” has died.
David Copperfield in court after man injured during magic trick
The attorney for a British man who is suing illusionist David Copperfield said his client suffered serious injuries after being called on stage during Copperfield's show at MGM Grand.
5 things connecting Las Vegas and Marilyn Monroe
1. Marilyn Monroe, known then as Norma Jeane, obtained her first divorce in Las Vegas at the age of 20 on September 13, 1946. 2. According to some biographers, Monroe lived at 604 S. 3rd Street for four months during the summer of 1946. The house has since been torn down and is now the site of a parking lot. 3. In 1954, Monroe almost married Joe DiMaggio in Las Vegas but the wedding was called off last minute. The wedding was to be held at the Hotel El Rancho Vegas which was located on the southwest corner of Sahara Avenue and Las Vegas Boulevard. 4. Las Vegas has at least one road dedicated to the star. Marilyn Monroe Avenue is located in east Las Vegas and intersects with Betty Davis Street and Cary Grant Court. 5. There are currently more than 20 Marilyn Monroe impersonators for hire in the Las Vegas Valley.
Sir Richard Branson announces purchase of Hard Rock Hotel
Sir Richard Branson, founder of the Virgin Group, has acquired the Hard Rock Hotel with partners and plans to turn it into a Virgin-branded property by the end of 2019.
3 Centennial High School students killed in Calif. crash (Full)
Three Centennial High School students were killed Thursday morning in Southern California when their vehicle was struck by a suspected drunken driver while they were enjoying their spring break, according to a family member of one of the victims.
Retail Restroom Sexual Assault Suspect
Las Vegas police are asking for help finding a man they said groped a woman in a south Las Vegas Valley restroom. (Las Vegas Metropolitan Police Department)
Calvary Christian Learning Academy, “There was no fair warning.”
Samantha O’Brien, whose three-year-old daughter attended the Calvary Christian Learning Academy daycare, found out Monday night when her daughter’s teacher called about the school closing.
Mojave Max at Springs Preserve
File footage of Mojave Max at Springs Preserve. (Springs Preserve)
Companies bet their futures on cryptocurrency
Two Las Vegas entrepreneurs talk about finding their niche in blockchain enabled technologies and digital currency.
Solar panels reduce energy bill for CCSD
Wilbur and Theresa Faiss Middle School is one of 42 CCSD schools with solar panel installations, saving approximately $514,000 per year in energy costs.
Red carpet at MGM for Dan Reynolds Believer screening
Kats on the red carpet for the VIP screening of "Believer," the documentary by Imagine Dragons frontman Dan Reynolds about how the Mormon Church treats its LGBTQ members.
Driver dies in single-vehicle crash
One person is dead after an early Wednesday morning crash in the northwest valley. The single-vehicle crash was called in about 1:35 a.m. on Jones Boulevard just north of Deer Springs Way, according to Metropolitan Police Department Sgt. Robert Stauffer. The driver, who was the only person inside the vehicle, died at the scene.
Uber Health to Improve Patient Ride-Hailing Services
Uber Health to Improve Patient Ride-Hailing Services On Thursday, Uber launched its Uber Health platform for healthcare providers. Medical facilities, rehab centers, clinics and hospitals can book rides for patients from a centralized dashboard – no app required. According to Techcrunch, Uber Health general manager Chris Weber noted some 3.6 million Americans miss appointments due to lack access to reliable transportation. Uber’s endeavors into health care trace back to 2014, when Uber first offered on-demand flu shots in large markets across the U.S. Since then there have been similar efforts throughout the world, from diabetes and thyroid testing in India, to subsidized rides for breast cancer screening in the U.S., to many more. Last summer, over 100 healthcare organizations joined the platform during a private beta. (Las Vegas Review-Journal)
Business
3 Mario Batali restaurants on Las Vegas Strip to close
Days after new sexual misconduct allegations were made against celebrity chef Mario Batali, his company announced Friday that it will close its three Las Vegas restaurants July 27. Employees of Carnevino Italian Steakhouse, B&B Ristorante and Otto Enoteca e Pizzeria, all located in The Venetian and Palazzo resorts, were informed of the decision Friday morning. Bastianich is scheduled to visit the restaurants Friday to speak to employees about the next two months of operation as well as how the company plans to help them transition to new positions.
Las Vegas union members voting to authorize the right to strike
Thousands of Las Vegas union members voting Tuesday morning to authorize the right to strike. A “yes” vote would give the union negotiating committee the power to call a strike anytime after June 1 at the resorts that fail to reach an agreement. (Todd Prince/Las Vegas Review-Journal)
Small businesses struggle to find qualified candidates
A 2018 survey found that over two-thirds of small businesses in Nevada find it somewhat to very difficult to recruit qualified candidates. Bailey Schulz/Las Vegas Review-Journal
Nevada secretary of state website offers little protection against fraudulent business filings
Property developer Andy Pham tells how control of his business was easily seized by another person using the secretary of state website.
Caesars may be going solo in its marijuana policy
Several Southern Nevada casino companies aren’t following Caesars Entertainment’s lead on marijuana testing.
How much is the Lucky Dragon worth?
Less than a year-and-a-half after it opened, the Lucky Dragon was in bankruptcy.
Gyms and discount stores take over empty retail spaces
Grocery stores used to draw people to shopping centers. But many large retail spaces have been vacant since 2008. Discount stores like goodwill and gyms like EOS Fitness are filling those empty spaces, and helping to draw shoppers back in. K.M. Cannon/Las Vegas Review-Journal
Funding source of Las Vegas stadium for the Raiders is sound, expert says
The stadium is funded in part by $750 million of room taxes, the biggest such tax subsidy ever for a professional sports stadium. Robert Lang, executive director of Brookings Mountain West and The Lincy Institute at UNLV, says that is a good use of public funds. (Richard Velotta/Las Vegas Review-Journal)
Las Vegas needs light rail, expert says
Robert Lang, executive director of Brookings Mountain West and the Lincy Institute said he is afraid of a "congestion mobility crisis." Las Vegas needs a light rail system, he said, to accommodate the city's growing number of attractions. (Richard Velotta/Las Vegas Review-Journal)
Three takeaways from Wynn Resorts' Earnings Call
Matt Maddox came out swinging in his first earnings conference call as Wynn Resorts chief executive officer, boasting of record Las Vegas quarterly revenues and applicants lining up for work.
Star Wars VR Comes to Las Vegas
Sneak peak at the new "Star Wars: Secrets of the Empire" VR experience at the Grand Canal Shoppes.
Elaine Wynn continues her fight to change Wynn Resorts board
Elaine Wynn, the largest shareholder of Wynn Resorts Ltd., is seeking to kick a friend of her ex-husband Steve Wynn off the company’s board of directors. (Todd Prince/Las Vegas Review-Journal)
Zillow is getting into house flipping in Las Vegas
Las Vegas Review-Journal real estate reporter Eli Segall says flipping houses has waned in popularity after the housing bubble burst.
Ellis Island Buys Mt. Charleston Lodge
Ellis Island, which operates a casino, brewery and hotel just off the Strip, purchased the Mt. Charleston Lodge in early April.
Casinos to be penalized for allowing drug-impaired customers to gamble
Nevada Gaming Commission Chairman Tony Alamo talks about an amendment making casinos subject to the same disciplinary standards of preventing people to gamble if impaired by drugs as they are for letting them play while intoxicated by alcohol.
Terrible Herbst to open large travel center in Southern Nevada
The 50,000-square-foot commercial travel center will include 96 fuel pumps and the third White Castle restaurant in Southern Nevada. Wade Tyler Millward reports.
Art Bell’s Top 10 Shows
A selection of radio host Art Bell’s most popular shows.
Hooters owner talks about room upgrades at his hotel-casino
George Ruff, founder and senior principal of Trinity Hotel Investors L.L.C., owner of Hooters Hotel and Casino in Las Vegas, talks about recent room upgrades at the hotel. K.M. Cannon/Las Vegas Review-Journal
Passengers Discuss Allegiant Air
Allegiant Air passengers voice their views on the airline at McCarran International Airport on April 16, 2018. (Bailey Schulz/Las Vegas Review-Journal)
Longtime Las Vegas attorney John Momot dies at age 74
Criminal defense attorney John Momot, who represented mob figures and even played himself in the movie “Casino,” has died.
Trump Slams Amazon for Not Paying Enough in Taxes
Trump Slams Amazon for Not Paying Enough in Taxes Trump tweeted his concerns about the company on Thursday. This isn't the first time Trump commented on the issues via Twitter. August 2017 December 2017 Amazon did hold back on paying state taxes in 1995, but the company has been routinely collecting state sales taxes since then. In 2016, the company's report from the Securities and Exchange Commission confirmed it paid $412 million in taxes.
David Copperfield in court after man injured during magic trick
The attorney for a British man who is suing illusionist David Copperfield said his client suffered serious injuries after being called on stage during Copperfield's show at MGM Grand.
eyecandylab CEO shows augmented reality during NAB
Robin Sho Moser, CEO and co-founder of eyecandylab gives an augmented reality demonstration at his booth during the National Association of Broadcaster Show at the Las Vegas Convention Center. K.M. Cannon/Las Vegas Review-Journal
Trends in access to capital for local black business owners
Denette Braud, owner of Braud’s Funnel Cake Cafe, talks about what owning her own business means to her.
Sir Richard Branson announces purchase of Hard Rock Hotel
Sir Richard Branson, founder of the Virgin Group, has acquired the Hard Rock Hotel with partners and plans to turn it into a Virgin-branded property by the end of 2019.
Calvary Christian Learning Academy, “There was no fair warning.”
Samantha O’Brien, whose three-year-old daughter attended the Calvary Christian Learning Academy daycare, found out Monday night when her daughter’s teacher called about the school closing.
Adobe unveils #HackTheBracket application for March Madness
Adobe unveiled their #HackTheBracket application at the Adobe Summit trade show at Sands Expo. People can use data from Adobe Analytics to make their bracket for March Madness. K.M. Cannon/Las Vegas Review-Journal
Adidas Signs Yankees' Star Aaron Judge
Adidas Signs New York Yankees Star Aaron Judge The slugger is set to don a new set of stripes this season after signing with the apparel company. Aaron Judge Terms of the deal were not disclosed. The deal includes branding on his batting gloves and wristbands. Judge, the AL's reigning Rookie of the Year, was previously under contract with Under Armour since 2014. Judge won the American League Rookie of the Year award last season after setting an MLB record for most homers in a rookie season (52).
Esports athletes are sponsored, too
Meet Red Bull-sponsored professional esports player Daryl S. Lewis, better known by his in-game name Snake Eyez. Nicole Raz Las Vegas Review-Journal.
Bettor Investments turned into a bad bet
Bettor Investments formerly operated a Nevada-licensed entity betting operation. The company promised “conservative growth, profits and stability for our investors.” Matt Stuart, who ran the fund, shut it down in late 2016 and never made good on an agreement with shareholders.
TOP NEWS
News Headlines
Events
Home Front Page Footer Listing
Circular
You May Like

You May Like