Las Vegas, Nevada

In a city known for its action, Majestic Realty has two developments that are positioned right in the center of it all: Sunset Parkway Business Center and Beltway Business Park.

Located near the intersection of I-15 and I-215, just off the world famous Las Vegas Strip, Sunset Parkway Business Center is an 80-acre master-planned business park offering numerous premium amenities. Situated adjacent to McCarran International Airport, the development offers a premier location with quick access to the nearby hotel, casino, gaming and convention industries, as well as excellent truck maneuvering and loading areas.

Construction is nearing completion on Phase III of Sunset Parkway totaling 373,600-sq. ft. and consisting of four buildings ranging from 30,000 to 150,000-sq. ft. The Patron Spirits Company has already leased the entire 100,000-sq. ft. Building #2 for its national distribution hub, and Dal Tile has leased 75,000-sq. ft. of the 150,000-sq. ft. Building #3 for its continuing expansion. Two more tile companies, Emser Tile and Baja Tile and Stone, driven to the Las Vegas market by the thriving local housing industry, have leased 24,300-sq. ft. and 16,800-sq. ft. in Building #4 respectively. Additionally, Building #4 boasts signed leases with Kelly Paper in 22,500-sq. ft. and Bassett Furniture in 15,000-sq. ft., leaving only 15,000-sq. ft. available. Slated for completion in February 2005, limited space remains and activity is brisk.

Because of exceptional leasing activity, Majestic is busy planning for its next phase of development at Sunset Parkway, which will consist of three buildings totaling 365,000-sq. ft. bringing the total project to over 1.5 million-sq. ft. Construction of this final phase is set to commence in mid-2005.

Also in Las Vegas, Majestic continues its successful joint venture with the Thomas & Mack Co. to develop the Beltway Business Park along the Southern Beltway at (I-215) at Decatur Blvd. Top tenants include GES Exposition Services, the largest tradeshow and event marketing company in North America, which kicked off the project in November 2002 by leasing an 856,000-sq. ft., build-to-suit facility. Following the successful GES deal, the partnership commenced developing its first phase of office/flex product, with its recently completed two-building project totaling over 102,000-sq. ft. The partnership also is constructing a 56,000-sq. ft. office/flex facility that is pre-leased to KB Home and plans are in the works for additional spec office buildings of one and three stories.

With the significant interest in warehouse product at the Beltway Business Park, plans are underway for an additional 800,000-sq. ft. of industrial space. Ultimately, Beltway Business Park will span 400 acres with more than 3 million- sq. ft. of industrial space, 1.5 million-sq. ft. of office/flex space and the potential for future retail.

For information about leasing opportunities in the Las Vegas area, contact Rod Martin or Bill Hayden at (702) 896-5564.