Panattoni Development breaks ground on $47 million Vegas logistics center
LAS VEGAS — Reno-based company Panattoni Development announced June 12 crews have begun work on a 550,024-square-foot industrial development on a 29.99-acre parcel located at the intersection of Interstate 15 and Speedway Boulevard in North Las Vegas, called North 15 Logistics Center.
Construction of the project is estimated at $47 million and is scheduled to be complete in the first quarter of 2020, according to a news release.
The project will include two buildings with up to a 36-foot clear height, ESFR sprinkler system, R-30 roof batt insulation and concrete truck courts.
The project is owned by LIT Industrial Limited Partnership, a Clarion Partners company, with Panattoni serving as project developer. The contractor is Alston Construction and the architect is HPA Architects.
Go to http://www.panattoni.com to learn more about the company.
The $625,000 deal included a low-interest SBA 504 loan facilitated by Nevada State Development Corp., the state’s largest SBA 504 loan provider. City National Bank partnered in the financing package.