Friday, April 16, 2004 | 11:13 a.m.
Citing the city's recent economic development successes, the Thomas & Mack Development Group and Majestic Realty Co. announced a joint venture to develop an $80 million, 103-acre industrial project in North Las Vegas.
The project, which is currently in the design phase, is expected to include as many as eight industrial buildings totaling 2.2 million square feet at Interstate 15 and the Las Vegas Beltway.
"North Las Vegas has had a lot of interesting probes through the (Nevada Development Authority) and the development community," said Tim Snow, president of the Thomas & Mack Development Group. "We see very definite potential not only for the 103 acres we have but the whole area itself."
The Northern Beltway Industrial Center is scheduled to break ground in the second quarter of 2004 with the first occupancy planned for later that year.
Thomas & Mack officials described the center as a natural fit for a distribution hub with access to key routes to Southern California, Utah and Northern California.
Also, as expected, Centra Properties LLC broke ground this week on the second phase of its Centra Point office park project.
The overall project is a $100 million, 500,000-square foot development at I-215 and Durango Drive. The first phase is fully leased, Centra officials said, and Phase II will include three buildings totalling 160,000 square feet.
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