In a move that paves the way for development of a 2 million-square-foot industrial complex, the Henderson city council has approved the sale of 150 acres near the Henderson Executive Airport. According to VegasINC, South 15 Partners L.L.C., the developers, paid $13.6 million for the parcel. The project would be the submarket’s first large-scale industrial development in many years.
Led by former homebuilder Terry Manley and Mike Dean, the founder of contracting company M.J. Dean Construction, South 15 Partners will add its newly acquired property to an adjacent site it already owns. South 15 has a neighboring 10-acre site under contract as well. The industrial project would encompass the newly created 170-acre parcel.
Dubbed South 15 Airport Center, the complex would include 14 industrial buildings, including a 300,000-square-foot FedEx distribution center. Groundbreaking is scheduled for spring of 2013.
According to VegasINC, South 15’s plan includes the option of selling individual parcels to end users looking for build-to-suit development sites. When completed, the project could create as many as 2,900 jobs.
Image courtesy of Google Maps.