VanTrust started work on its latest industrial project, Vantage North, which is planned for more than 4.5 million square feet of state-of-the-art distribution facilities. Located in a rapidly growing submarket of North Las Vegas, Vantage North is just 2.5 miles north of the Interstate 15 and Speedway Blvd. interchange.
The 350-acre property is the gateway to Apex Industrial Park, which encompasses 18,000 acres of land, including 7,000 developable acres. Infrastructure and site work is already underway at Vantage North and the first two speculative industrial buildings are scheduled to get underway in December 2022.
“We are thrilled to be delivering this large-scale industrial development to Apex, one of the most anticipated industrial parks in the Southern Nevada market,” said Keith Earnest, Executive Vice President, for VanTrust. “We continue to see tremendous opportunity in North Las Vegas thanks to incredible leadership from the Mayor, City Council, and City Staff.”
“This is another huge win for North Las Vegas as we lead the way in diversifying the economy of Southern Nevada,” said North Las Vegas Mayor John Lee. “As we expand our water line into Apex, development is following, bringing good-paying jobs and opportunities for companies looking to expand their operations or relocate to a more affordable and friendly environment. VanTrust saw our strategic vision and was one of the earliest partners in our success, and I am excited to see them expand their footprint in North Las Vegas.”
Vantage North will have all infrastructure and site grading complete by the end of the year, making it ready for build-to-suit opportunities as well as speculative development. The first two speculative buildings will be approximately 450,000 and 600,000 square feet and are scheduled to be completed in October 2023. With vacancy rates at or below record lows, timing is ideal for new development in this highly sought-after location.
“The Vantage North project is at the epicenter of today’s Las Vegas industrial market,” said Kevin Higgins, SIOR, who is the Executive Vice President for CBRE’s Advisory & Transaction Services. “It is designed to meet the ever-growing demand for larger, state-of- the- art Logistics facilities, with various sizes ranging from approximately 450,000 to more than 2 million square feet all within a single development. Like no other project in the marketplace, it will have ready to occupy ‘speculative buildings’, as well as options for build-to-suit opportunities.”
Prior to Vantage North, VanTrust has also developed Northgate Distribution Center in North Las Vegas; the project was named Industrial Park of the Year at the 2022 NAIOP of Southern Nevada Spotlight Awards. Northgate is an eight-building, 3.5 million square foot industrial park. VanTrust also delivered Tropical Distribution Center, a 1.6 million square foot industrial park in North Las Vegas with national tenants, including Sephora.
Vantage North offers direct freeway access via the Speedway Interchange and a half-mile of freeway visibility along the I-15. It also is in close proximity to a strong and growing employment base.