Developer plans two Las Vegas industrial projects
Las Vegas developer Jeff LaPour has announced plans for two industrial projects.
The head of LaPour Partners said he plans to construct a seven-building, 207,000-square-foot development at the northeast corner of Executive Airport Drive and Bruner Avenue, just west of Henderson Executive Airport.
He also plans to develop a four-building, 125,000-square-foot project at the southeast corner of Craig and Walnut roads in North Las Vegas.
LaPour said he plans to break ground on both projects this summer and to finish by year’s end.
He hasn’t lined up users for either one yet.
Construction of warehouses, distribution centers and other industrial buildings has picked up speed in the Las Vegas Valley the past few years. In many cases, developers have not lined up users before or after they break ground, figuring they’ll sign tenants by the time they finish or not long after.
It’s a riskier approach, but overall, demand for space has been strong. Southern Nevada’s industrial vacancy rate was 5.3 percent in the fourth quarter, down from 8.3 percent in the same period in 2014 and the lowest since 2006, according to brokerage Colliers International.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.
