Industrial Condo Complex Breaks Ground Near Nellis
A three-building industrial condo project in Las Vegas has begun site work with completion targeted for 2027.
Updated on Nov. 12, 2026 in Commercial
Live Poll
Should your area build more warehouses and industrial space?
A Las Vegas general contractor held a ceremonial groundbreaking for North Valley Business Park near Las Vegas and Nellis boulevards, with site work now underway. The three-building complex spans nearly 111,800 square feet combined and is being sold as individual industrial condo units.
Why it matters
The project adds industrial condo space to a Southern Nevada market where owner-occupant buyers are paying more per square foot than a year earlier. Its development timeline and unit sales will show how demand for small-bay industrial property is holding up in the Las Vegas area.
The roughly $22 million complex sits on a 6.45-acre site bought for $4.5 million in late 2024, with individual units ranging from 6,480 to 58,077 square feet. The original plan measured 96,260 square feet combined, and county records show the plans were modified after the land purchase.
The players
Clark County Building Department
The Clark County Building Department is the local agency that reviews and issues construction permits for projects in unincorporated Clark County, including Las Vegas-area developments.
The details
The developer, a Las Vegas general contractor who also builds his own projects, teamed with two development partner firms and is selling units individually while also planning to rent space or sell leased sections to other landlords. Clark County commissioners initially approved plans in spring 2024 before several later modifications and the issuance of multiple building permits in September.
Timeline
Spring 2024: Clark County commissioners initially approve project plans.
Late 2024: The 6.45-acre site is acquired for $4.5 million.
September 2026: Clark County issues multiple building permits for the complex.
Early November 2026: A ceremonial groundbreaking is held for North Valley Business Park.
Late spring or early summer 2027: Expected completion of the roughly $22 million development.
Market Context
Owner-occupant industrial buyers in Southern Nevada paid an average of $276.20 per square foot in the first half of this year, up from $269.50 a year earlier, as buyer activity rose from 24 to 40 deals. The North Valley Business Park adds small-bay industrial condo supply into that same buyer pool.
Small businesses and owner-occupants looking for industrial space in the Las Vegas area will see new condo units enter the market, with sizes from about 6,480 square feet up to nearly 58,000 square feet. Buyers weighing ownership against leasing will be comparing units against recent per-square-foot prices in the region.
The takeaway
Rising owner-occupant prices and steady buyer demand suggest small-bay industrial condos remain a competitive option for Las Vegas businesses weighing ownership. Buyers should compare per-square-foot pricing against leasing costs before committing.
What happens next
Completion of the North Valley Business Park is expected in late spring or early summer 2027.
Further reading
For more on local property trends, see Las Vegas Commercial listings and market coverage.
Source note: This article includes information reported by Las Vegas Review-Journal.
Live Poll
Should your area build more warehouses and industrial space?
