Economy Recovering with Sustainable Growth in the Southwest Las Vegas Industrial Submarket
National real estate developer Jackson-Shaw recently announced a joint venture with Las Vegas-based LaPour Partners to develop Parc Post, located in the Southwest Las Vegas submarket. Construction commenced on the 165,235 square foot, 4-building, Class-A industrial business park with anticipated completion in summer 2016.
“Aside from the great access and visibility, Parc Post will be developed to be flexible for any number of potential tenant profiles,” said Michele Wheeler, president and chief operating officer of Jackson-Shaw. “Jackson-Shaw identified this as a compelling investment opportunity to deliver a quality industrial asset in partnership with LaPour Partners, a well-known local firm that has delivered more than 1 million square feet of similar product in the neighborhood over the past 15 years.”
The 9.3-acre property will benefit from the site’s direct access to the 215 Beltway corridor via two interchanges, as well as its close proximity to McCarran International Airport, I-15 and The Las Vegas Strip. The property’s location offers an advantage to companies moving goods and transacting business throughout the region. Parc Post offers 1,300 square feet of frontage on Post Road between Jones Boulevard and Rainbow Boulevard interchanges of the I-215 Beltway.
“Las Vegas industrial is in full recovery and Parc Post is one of the first speculative industrial projects market-wide, and the first new mid-bay space in the Southwest submarket since the 2008 downturn,” said Jeffrey LaPour, president of LaPour Partners.
The development of this project is a continuation of a 20-year relationship between Jackson-Shaw and LaPour Partners. Both firms have collectively developed more than 2.5 million square feet of industrial space locally, as well as 1,000 hotel rooms throughout the region. To develop Parc Post, the joint venture partnered with Markaz, a leading international investment bank that has been active in U.S. real estate for nearly 40 years.
“Vacancy in mid-bay product type is at historic lows, particularly in the Southwest submarket where land is difficult to acquire,” said Donna Alderson, SIOR, senior vice president, CBRE. “We are very excited about this project and already see high interest for this type of space. The location of Parc Post, next to Pepsi, is ground zero in the submarket with unparalleled access to the 215 Beltway via Jones Boulevard or Rainbow Boulevard.”
“This is a well-respected development team with a long track record in the Las Vegas market,” said John Restrepo, principal of RCG Economics. “Location, property type and timing should all contribute to another successful project.”
The state-of-the-art, MD zoned, distribution facilities will include 28’ clear heights, an ESFR sprinkler system, upgraded power and exterior signage identity, as well as provide dock and grade-level loading opportunities. All spaces are divisible to 12,000 square feet with single tenant buildings up to 53,102 square feet. The unique design allows all spaces to offer corner offices allowing maximum natural light for office use.
Jackson-Shaw, a national real estate development company headquartered in Dallas has more than 40 years of experience developing diversified real estate properties that meet the needs of its clients and partners. The company has completed more than 42 million square feet of development since its founding and develops a variety of project types, including office, industrial, mixed-use and hospitality. Jackson-Shaw’s consistent goal is to increase and enhance values in real property assets for its clients and capital partners. Jackson-Shaw has offices in Dallas; Jacksonville, Florida; and Lanham, Maryland. For more information, call 800-351-SHAW (7429) or visit www.jacksonshaw.com.
About LaPour Partners
Las Vegas based LaPour Partners is an opportunity driven real estate firm focused on industrial, office and hospitality investments and development in Nevada, Arizona and California. For more information, visit www.lapour.com.