The recent growth in Nevada’s population has caused industrial developers to see opportunities. In the last decade, the amount of land belonging to the BLM has decreased from 87% to 63%, with the majority of the land on the commercial side primarily being used by industrial developers. Apex Industrial Park in North Las Vegas and Eldorado Valley in Henderson remain the two largest areas of industrial growth, totaling 25,000 acres of land. Sean Zaher, senior vice president of CBRE, stated that the cost of developing this land is closely related to the cost of its supporting infrastructure. The Apex Industrial Park located in North Las Vegas is comprised of 18,000 acres of land, 7,000 of which are developable. Part of Apex industrial Park’s success has been pursuing more public/private partnerships. One of the projects that have had success is Miner’s Mesa in southern Apex which has nearly sold out with only 20 acres of space remaining. Part of Miner’s Mesa success is due to a public/private partnership which saw the city of North Las Vegas invest $59 million towards pulling water and sewer to the first 300 acres of developable land, according to the article. Both southern and northern Nevada are experiencing extreme growth. Strategically using the land is one of the ways the city of Henderson is attempting to challenge land constraints in southern Nevada. As Nevada continues to grow, industrial developers will continue to see many more opportunities.
Read more here:
https://nevadabusiness.com/2023/07/space-available-update-on-land-in-nevada/