EBS Realty Partners and Penwood Real Estate Investment Management Acquire 90 Acres in North Las Vegas

Site Set for a 1.36 Million Square Foot, Two Building Industrial Logistics Campus Development 

North Las Vegas, NV (February 4, 2025) – EBS Realty Partners (EBS), a principal commercial/industrial real estate development company, and joint venture partner, Hartford Connecticut-based Penwood Real Estate Investment Management (Penwood), announced the acquisition of a 90.96 acre industrial development site located in the Apex Industrial Park in the City of North Las Vegas at 9150 N Terryl B Adams Street.

The partnership will develop the site as “Apex Ridge,” which will consist of two state-of-the art class-A tilt-up industrial logistics facilities, totaling 1.36 million square feet. Groundbreaking is estimated for Q2 or Q3 of 2025.

EBS and Penwood acquired the property for $31 million from Ball Metal Beverage Container Corp. The parties were assisted and represented by Gregg Haly and Garrett Toft, of CBRE, Inc.

“North Las Vegas has seen robust demand for industrial real estate over the past decade, driven by consistent economic expansion, positive job growth, and a strong labor pool.  The city’s business-friendly regulatory framework, advantageous tax structure, and comparatively low operating costs, relative to the industrial markets in Southern California, further enhanced its appeal. Of the many factors considered in making an investment of this magnitude, one stood out, the City’s strategic location.  Within a day’s round-trip drive to the ports of Los Angeles and Long Beach, the Las Vegas Valley can service nearly 20% of the US population within two days, making it an essential regional distribution node in the global supply chain,” said Quinn Johnson, managing principal and founder, EBS.  

Johnson added, “If there has been a drawback to the Las Vegas industrial market as of late, it’s been the lack of utility-served, private land available for new development to meet the logistics demand.  After nearly 40 years in the making, along with substantial infrastructure investments by the city and state, Apex Industrial Park is finally coming online and will provide much needed land inventory for future development.  With Apex Ridge now officially in the development queue, the EBS/Penwood team is ready to be one of the first to develop in Apex.”  

Speaking of the recently announced Apex Ridge project, North Las Vegas Mayor Pamela Goynes-Brown shared“I’m thrilled to welcome EBS Realty Partners and Penwood Real Estate Investment Management to North Las Vegas and the Apex Industrial Park. Their investment in our city speaks to North Las Vegas as a national leader in industrial development, where companies can find the space, connectivity, and pro-business support they need to thrive. Apex Ridge promises to bring significant economic impact, new career opportunities, and a state-of-the-art addition to our thriving industrial sector. We are excited about the economic potential of this project and to see these buildings take shape.”

Located 20 minutes north of Las Vegas on I-15, Apex Industrial Park features 7,000 acres of developable land. Current tenants in the park include Air Liquide, Kroger Distribution Center, and Hey Dude/Crocs Distribution Center. In 2018, $58 million was invested in highway enhancements, which included the construction of an interchange and the widening of US 93.

About EBS Realty Partners: Based in Southern California, EBS is a principal commercial / industrial real estate development company. Co-managed by Quinn J. Johnson, JD, and Patrick C. Remolacio, SIOR, CCIM, EBS has successfully developed over 7.4 million square feet of industrial building projects with varied facility types ranging from state-of-the-art commerce and last-mile logistics warehouse facilities to industrial business parks, temperature-controlled food facilities, and specialized manufacturing and processing plants. What sets EBS apart is the company’s commitment to operating in a persistent state of value engineering and risk management. www.ebsrp.com 

About Penwood Real Estate Investment Management, LLC: Penwood is an entrepreneurial real estate investment advisory firm dedicated to managing value-added real estate investments for the institutional market. Formed in 2003, the firm is a Registered Investment Adviser based in West Hartford, CT. Penwood combines experienced investment management with the local-market expertise of established strategic relationships and a disciplined management process to optimize value for investors. Penwood’s investment focus remains on value-add investment opportunities in Southern California, Las Vegas, New Jersey, Central/Eastern Pennsylvania, and port-centric New York due to the diverse demand generators, inherent supply constraints, proximity to dominant seaports, and unparalleled transportation infrastructure. www.penwoodre.com.