A developer has sold a sprawling land tract in Apex Industrial Park to a data-center operator, property records indicate, raising the prospect of another big project in the area.
VanTrust Real Estate sold nearly 205 acres in the North Las Vegas industrial park for almost $181 million, records show. The sale closed Aug. 8.
Property records indicate the buyer was Utah-based Novva Data Centers.
Overall, Southern Nevada’s industrial real estate market has slowed over the past year or so with increased vacancies and a pullback in construction. But the need for data storage is by no means pumping the brakes, especially with the rapidly spreading use of artificial-intelligence technologies .
VanTrust Executive Vice President Keith Earnest, who leads its projects in Nevada and other Western st