Panattoni Development Company and Hillwood Investment Properties have formed a joint venture to develop a 480,000-square-foot speculative bulk warehouse facility in Henderson as Phase II of the South 15 Airport Park.
The building will be constructed on a 28-acre site the partners recently acquired in the West Henderson industrial park. The South 15 Airport Center, located directly east of the Henderson Executive Airport and approximately 1 mile from the interchange of I-15 and St. Rose Parkway, is already home to a 320,000-square-foot FedEx Ground facility which was Phase I of the park.
Neighbors include the Levi Strauss, Maverick Airlines, Southwest Gas Training & Operations Center, Cox Communications, Cashman (CAT) Equipment and the M Resort & Casino.
Features of the South 15 Class A building will include a crossdock configuration, 36-foot clear height, LED light fixtures, a high number of dock doors, and grade level loading.
The Colliers International industrial team of Dan Doherty, Susan Borst, Chris Lane and Jerry Doty represented the seller, South 15 Partners, on the $5.6 million land sale. The team will also be representing the owner of the planned industrial development on the site.
“Logistically, the South 15 Airport Center is viewed as a new emerging submarket in an ideal and superior location, given its proximity of only 30 miles to the California border, where the majority of incoming product arrives from daily,” the Colliers Doherty Industrial team said in a statement.
The Panattoni/Hillwood partners are anticipating that the project will be completed by the third quarter of 2016.
“The development of industrial space in West Henderson represents the future of a new employment center for our city,” Henderson Mayor Andy Hafen said in a statement. “It will also generate additional interest for businesses to relocate to and expand their operations in Southern Nevada and, of course, right here in Henderson.”
Wellness Center opens
The North Las Vegas Police Department Wellness Center, which was made possible by donations from local businesses, has opened.
Cambridge Companies, LLC, which invests in multi-family, industrial, hospitality and gaming sectors in Las Vegas, was the Wellness Center’s largest donor.
“With the help of local businesses such as Cambridge Companies we have created a state of the art fitness and wellness center for the City of North Las Vegas Police Department,” North Las Vegas Mayor John Lee said in a statement. “The Wellness Center allows our busy officers time to incorporate both physical and mental health to their daily routine, allowing them to better serve our community.”
The donated funds were used to purchase fitness and wellness equipment, create meditation and exercise rooms, and upgrade locker room facilities.
“We are honored for the opportunity to contribute to the development of North Las Vegas,” Polina Chebotareva, partner at Cambridge Companies, said in a statement. “As real estate investors, we align our vision with that of the community we serve. It’s good for business and it’s the right thing to do.”
Filipp Chebotarev, COO and partner at Cambridge Companies, said: “Most local municipalities and Fortune 500 companies have for many years offered such amenities to their employees. The City of North Las Vegas employees have worked unbelievably hard to restore fiscal and community order after the 2008 recession. North Las Vegas has evolved into a business hub, leading the valley in attracting new businesses and encouraging growth. We’re proud to give back to communities that take care of business and take care of people.”
Cox upgrades service
Cox Las Vegas is increasing the speed of its “Cox Ultimate Internet” tier of residential Internet from 150 megabits per second to 300 Mbps.
This increase is the latest surge in announced speeds that began in February of this year when the company increased its “Cox Internet Essential” from 5 Mbps to 15 Mbps and adjusted its entry level “Cox Internet Starter” from 1 Mbps to 5 Mbps. The enhancements come at no charge to customers.
“Today’s announcement marks the third increase in speeds this year,” Michael F. Bolognini, vice president and market leader of Cox Las Vegas, said in a statement. “Our ability to increase Internet speed is the result of continual investments in our network and a commitment to offer access and choice to meet the needs of our customers.”
Along with a seamless streaming experience on multiple devices, with this latest speed increase Cox High Speed Internet customers with the Ultimate service package will be able to download a 5 gigabyte high definition movie in two and half minutes, a 50 megabyte file in about one second, 10 MP3 songs in less than a second and a 25 megabyte YouTube clip in less than a second.
“In an age of binge-watching and online streaming, it’s no surprise that Internet usage is doubling about every two years,” Bolognini said. “And this is why greater bandwidth, like our new 300 Mbps Ultimate Internet, is more valuable and important to consumers than ever before.”
Cox customers who subscribe to Ultimate Internet will be upgraded automatically to the faster speed.