John Ramous, Nevada region partner at Dermody Properties, discusses how the southern part of the state’s various regions have evolved into industrial hubs — and what the firm is doing to capitalize on this.
WREB: What is it about Las Vegas and its fundamentals that have made it an ideal place for industrial?
Ramous: There are several key fundamentals driving Las Vegas’ — or Southern Nevada’s — growth as a comprehensive industrial and regional logistics hub. It’s strategically located near Southern California and other major West Coast markets, maintains a business and tax-friendly environment, has a supportive infrastructure, a streamlined permitting process, a focus on sustainability and a large, talented workforce with competitive labor costs. All these factors make this region an ideal place for industrial and logistics, as well as a very attractive location to work, live and conduct business.
WREB: Can you tell me more about your Apex project?
Ramous: Apex Industrial Park is becoming a primary center for larger and scalable logistics facilities, advanced manufacturing, technology and other distribution uses. Located in North Las Vegas off Interstate 15, it is luring major companies to the region, benefiting the entire Southern Nevada market. Trucks are arriving full and leaving full from the region, signaling that Apex has become a major regional hub for logistics.
After waiting more than 30 years for the site’s water and other infrastructure to be put in place, Dermody Properties pioneered the first speculative building at Apex, a 664,300-square-foot facility with a 40’ clear ceiling height on 38.5 acres called the LogistiCenter at Miner’s Mesa. The state-of-the-art logistics facility was recently completed in January 2024 and is ready for occupancy.
WREB: Where do you see current industrial opportunities in Las Vegas?
Ramous: Companies from all over the world are now looking to Las Vegas and Southern Nevada to invest in their logistics operations. This demand has flipped the script for the region. Instead of recruiting companies, the region is now filtering numerous prospective companies.
To accommodate for this growth, Dermody Properties is actively investing in the future of the region with state-of-the-art facilities like LogistiCenter at Miner’s Mesa. We are also completing construction on two additional North Las Vegas projects. This includes the LogistiCenter at Speedway II and LogistiCenter at I-215 North. Both projects are located in the North Las Vegas submarket. They will each contain 336,000 square feet and will be available for occupancy in the fourth quarter of this year. Dermody Properties is also planning to break ground on the 328,000-square-foot LogistiCenter at Nellis Boulevard in North Las Vegas over the coming months. Most recently, Dermody Properties completed the last two buildings within its 1-million-square-foot LogistiCenter at I-15 South project in West Henderson.
— Nellie Day