Clark County’s biggest commercial real estate deals of 2023

The Las Vegas Valley is undergoing a massive shift as it is developing a new wave of commercial and industrial projects, everything from manufacturing facilities to a host of apartment complexes. Clark County politicians and leaders have long touted the idea of diversifying the economy outside of tourism and gaming, and it seems the shift is finally happening and North Las Vegas is leading the way for growing the valley’s industrial footprint.

There were a number of massive land sales and huge mega industrial projects that either broke ground or got approval to start construction in 2023. Here’s a list of the top five sales within Clark County.

5. 8385 Eastgate Road, Henderson (89015)

First on the list is a sale of a commercial/industrial building in Henderson for $74.4 million. The estimated lot size is 10 acres and the sale took place in July. The building is located just south of where the 215 Las Vegas Beltway intersects with Interstate 515.

The seller is a New York-based company, and the buyer is a Boston-based company, property records show.

4. 3030 Robert Trent Jones Lane, Enterprise (89141)

We head over to one of the fastest-growing areas in the country, Enterprise, for the sale of a 228-unit apartment building, called Alton Southern Highlands, for $79 million. The property is located at the southern tip of the Las Vegas Valley, just west of the of Interstate 15 near where it splits off to the east with St. Rose Parkway.

According to the company’s website, apartments can range from $1,740 to $2,535, and amenities include a pool, outdoor patio, full gym and games room. The seller is an Atlanta, Georgia-based company, and the buyer is SemREF Vegas 3030 LLC, property records show.

3. 4970 East North Belt Road, North Las Vegas (89086)

A July land sale for $80.1 million hits the middle of the list. The land is zoned light manufacturing/storage facility. Located just northwest of where the Burce Woodbury Beltway and Interstate 15 cross paths in North Las Vegas, the land is approximately 26 acres. According to OpenWeb, a large building has already been constructed on the property.

The seller is a California-based company, and the buyer is based out of Washington, DC, property records show.

2. 3825 Craig Crossing Drive, North Las Vegas (89032)

A three-parcel plot of low-rise apartments in North Las Vegas called Tribeca North sold in January for $81 million. The sale closed in January and the property features 312 units just north of the North Las Vegas Airport. According to Tribeca North’s website, there are one-, two- and three-bedroom apartment homes available, starting at $1,205 a month for a one bedroom.

Both the buyers and the sellers are California-based development companies, property records show.

1. North Las Vegas land deal (89115)

A Delaware company bought a large nine building industrial project in North Las Vegas for $115 million in October, topping the list of largest recorded real estate deals of 2023, according to Clark County property records.

The Mosaic Companies — a Las Vegas-based real commercial real estate firm — sold the Mosaic Commerce Center to KW FUND VII- NORTH BELT ROAD LP. A representative for Mosaic said the buyer is a subsidiary of Kennedy Wilson, a real estate investment company based out of Beverly Hills.

The complex — which totals 582,510 square feet across 34 acres — is located about six miles south of Apex Industrial Park in North Las Vegas and is currently fully leased by 21 companies. Construction on the project was completed in July and most of the tenants moved in July and August. No specific address is listed for the sale.

Contact Patrick Blennerhassett at pblennerhassett@reviewjournal.com.