#United States #Las Vegas #Visionary III #Matterhorn Venture Partners

Visionary III, LLC and Matterhorn Venture Partners Join Forces in Las Vegas

In a strategic move to develop industrial real estate, Visionary III, LLC and Matterhorn Venture Partners (MVP) have announced their acquisition of a 6.5-acre site located in the industrial submarket of North Las Vegas Valley. This acquisition, situated at the southwest corner of North Nellis Blvd and North Las Vegas Blvd, marks the beginning of a promising new project known as North North Business Park. Designed as a three-building speculative industrial development, this initiative seeks to cater to the increasing demand for both end users and investors looking for prime industrial spaces in the area.

Since 2012, the Las Vegas industrial sector has witnessed remarkable growth, expanding by over 50%. Yet, despite this upward trend, the North Las Vegas Valley submarket continues to grapple with a shortage of smaller, modern industrial spaces. Current vacancy rates for buildings under 50,000 square feet linger around a mere 1.5%, indicating a strong market need.

"We’re very excited to move forward with this project in partnership with MVP," remarked Larry Monkarsh, Manager of Visionary III. He emphasized that the scarcity of industrial buildings suitable for end users in North Las Vegas Valley presents a significant opportunity. This acquisition will enable Visionary III and MVP to provide practical solutions to meet the needs of local businesses and investors, aiming to alleviate the current space shortages.

Construction of the North North Business Park is scheduled to commence in the summer of 2025. Scott McKibben, CEO of Matterhorn Venture Partners, shared, "Our goal is to offer these buildings for lease or sale to individual users. We've initiated preliminary discussions with potential users and are very optimistic about the interest this project has generated."

This acquisition not only highlights Visionary III and MVP's commitment to delivering value in key U.S. markets but also reinforces their strategy to address the critical need for small-bay industrial space in Northern Las Vegas. By enhancing the region's industrial landscape, the North North Business Park aims to become an indispensable resource for emerging businesses requiring flexible and modern industrial facilities.

The collaboration between Visionary III and MVP reflects a broader trend of proactive investments in regions poised for growth. As demand for industrial spaces continues to rise, strategic developments like North North Business Park are set to play a crucial role in shaping the future of industrial real estate in Las Vegas.

Overall, this initiative will not only contribute to the local economy but will also enhance the operational capabilities of businesses that rely on accessible and functional industrial spaces. With the industrial sector still expanding, the timing of this project appears particularly advantageous, serving to fulfill both current and projected market needs effectively.

In conclusion, the establishment of North North Business Park is a notable step in addressing the industrial space shortage in North Las Vegas, providing vital support for local entrepreneurs and companies aiming to expand their operations. As construction timelines approach, anticipation grows regarding the potential impact on the local economy and industrial discourse in the region.