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Four-buildings, encompassing more than 430,000 square feet, set to break ground in early 2025
LAS VEGAS – With nine (9) fully-executed leases taking down more than 80% of its recently completed 764,000-square-foot Phase I speculative development, Majestic Realty Co. and joint-venture partner EJM Development Co. unveiled plans for their 436,130-square-foot, four-building Phase II at the Arroyo Beltway Commercenter.
At more than three-quarter of a million square feet, Phase I was the largest speculative phase of construction in the southwest Las Vegas submarket since 2008. The strong market response and preleasing have left just over 148,000-square-feet of space remaining within the initial four-building development at the park located just south of I-215 at the northeast corner of Buffalo Drive and Warm Springs Road. It is also the only remaining space available in Majestic’s nearly 7-million-square-foot Las Vegas portfolio which includes the fully-leased Beltway Business Park.
“The strong, timely occupier response to our Phase I construction is a testament to a great product in an outstanding location,” said Majestic Realty Co. Senior Vice President, Rod Martin who, together with Majestic Senior Vice President Bill Hayden, oversees the construction, leasing and management of the Arroyo Beltway Commercenter.
“The availability of new product will further strengthen our position in the submarket and provide a wide range of additional, timely building options to accommodate local expansions, relocations and market newcomers, as well as build-to-suit options in future phases,” added Hayden.
Set to break ground in early 2025, Phase II construction encompasses:
Building #1, 238,000 SF (divisible) Building #2, 43,000 SF (single tenant)
Building #3, 80,600 SF (single tenant) Building #4, 74,530 SF (single tenant)
Recognized as an “A” location in the market, Arroyo Beltway Commercenter matches its top-tier location with a wide range of Class-A industrial warehouse/office buildings and strong surrounding amenities, including easy freeway access to the resort corridor, convention centers and Harry Reid International Airport, as well as more than 900,000 square feet of existing retail development at the Arroyo Market Square.
About Majestic Realty Co.
Majestic Realty Co. is the largest, privately-held developer and owner of master-planned business parks in the United States. With approximately 90-million-square-feet in its portfolio including industrial, office and retail space, as well as sports, entertainment and hospitality projects, Majestic provides real estate solutions for tenants large and small, creating jobs, tax revenue and community benefits across the country. Headquartered in southern California, Majestic has regional offices in Atlanta; Dallas/Ft. Worth and Laredo, Texas; Denver/Aurora, CO; Las Vegas; Phoenix; Portland; and Bethlehem, PA.
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CONTACT:
Marty Schechter
for Majestic Realty Co.
303-987-8163
marty@schechterpr.com