EBS, Penwood Kick Off Construction on 1.4 MSF Vegas Project
This campus is rising within an 18,000-acre industrial park.
EBS Realty and Penwood Real Estate Investment Management have broken ground on Apex Ridge Logistics Park, a two-building speculative industrial project spanning close to 1.4 million square feet in North Las Vegas, Nev.
The duo acquired the 91-acre development site for $31 million in February 2025. Seven months later, EBS and Penwood secured a $56.5 million financing package from PNC Bank consisting of two separate construction loans, according to Yardi Matrix.
The campus will consist of two buildings set to measure 755,628 and 602,377 square feet. Facilities may accommodate tenants in the e-commerce, manufacturing and distribution sectors.
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Apex Ridge Logistics Park takes root at 9150 N. Terryl B. Adams St., about 19 miles northwest of downtown Vegas. Interstate 15 runs within less than 3 miles. The project is within the 18,000-acre Apex Industrial Park, of which 5,000 acres are developable.
This park has benefited from numerous infrastructure investments, which enhanced nearby thoroughfares, among other upgrades. Several other developers took advantage of this opportunity, such as VanTrust, which is developing a 4.5 million-square-foot, multi-stage project. A few warehouses debuted, including a 586,320-square-foot facility that VanTrust sold for $96.8 million late last year.
North Las Vegas drives construction activity in the market
In fact, North Last Vegas was an industrial construction hot spot in 2025, with the submarket outperforming all others across the metro, according to a Colliers report. More than 47 percent of the market’s industrial completions of 6.8 million square feet were within North Las Vegas last year.
However, overall market industrial deliveries shrank by 57.2 percent year-over-year in 2025, the same source shows. One such significant delivery was Lincoln Property Co.’s, which also marked the company’s first ground-up project in Nevada. Last year, the firm brought online a 1.6 million-square-foot campus.
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