LAS VEGAS, NEV., September 22, 2020 – Harsch Investment Properties has started development of the 150,000-square-foot Tropical Speedway Commerce Center in North Las Vegas. This new project brings the company’s total holdings in Las Vegas to 30 properties encompassing more than 10.5 million square feet. Tropical Speedway Commerce Center can accommodate users ranging from 14,875 square feet to 75,000 square feet. Completion is scheduled for second quarter 2021.
Tropical Speedway Commerce Center will feature 28-foot to 32-foot minimum warehouse clear heights, 36 dock-high doors and eight grade-level doors, 221 parking spaces, a 130-foot minimum truck court and ESFR Sprinklers.
JLL’s Jason Simon, Xavier Wasiak and Rob Lujan are overseeing leasing at the property.
“We want to continue to serve the 1,850 tenants in our current Las Vegas portfolio by offering a state-of-the-art industrial building for their expansion, as well as new tenants that want to be part of the Harsch family,” said Jordan Schnitzer, President of Harsch Investment Properties.
“With the evolution of e-commerce, the Las Vegas industrial market continues to see high demand because of its proximity to other Southwest hubs and skilled labor,” said Reed Gottesman, Senior Vice President/Regional Manager, Harsch Investment Properties. “Tropical Speedway Commerce Center is perfect for companies looking for a well-located logistics location in a business-friendly environment.”
Tropical Speedway Commerce Center is ideally located with immediate access to I-15 freeway via Speedway Boulevard and the new Tropical Parkway Interchange.
According to a recent JLL industrial demand report, prior to the pandemic the company attributed as much as 35% of its overall industrial leasing to e-commerce, but now, with expectations for e-commerce to grow 20% in 2020 alone, JLL reports as much as 50% of its leasing activity is already attributed to e-commerce operations this year.
“Las Vegas continues to grow as a strategic location for industrial users,” said Simon. “Tropical Speedway Commerce Center is another example of Harsch delivering Class A product to meet growing demand.”
R&O Construction was selected as the general contractor for the project. The design team is VLMK Engineering + Design and VTN Consulting Engineers.
About Harsch Investment Properties
Harsch Investment Properties is a privately-owned real estate company that acquires, manages and develops properties for its own portfolio. The company owns and operates 27 million square feet of office, multi-tenant industrial, multi-family and retail properties in six western states. Headquartered in Portland, Oregon, Harsch has regional offices in Portland, Seattle, the San Francisco Bay Area, Sacramento, Las Vegas, San Diego and Arizona. Harsch opened its office in Las Vegas in 1994 and now it owns and operates over 1 billion dollars of real estate in the valley.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
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