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NEWPORT BEACH, CA-Locally based developer Western Realco has acquired a 110,200-sf business park in Nevada and plans to expand it. When completed, the 46-acre project will encompass 750,000 sf of office, retail and flex space.

The complex, known as Stephanie Beltway Center, currently includes a two-story, 55,000-sf office building and two one-story flex buildings, encompassing 27,600-sf each, which stand on eight acres of land. Western Realco has purchased the buildings, along with 14 additional acres of land and has an option to acquire another 24 acres, according to Gary Edwards, the company’s president.

New construction on the project has been slated for 2002. The completed project, including the option land, will be worth more than $100 million, according to a company spokesperson.

The mixed-use complex is located on Stephanie Street, in Henderson, NV. It is one block north of the newly completed Interstate 215 Beltway, with easy access to McCarron International Airport and the Las Vegas Strip.

“Henderson is the fastest growing city in Southern Nevada and is at the hub of major population growth and business expansion,” Edwards says. “Moreover, the industrial/commercial market in the area is maturing into an assembly/light manufacturing, technology and office market. We are responding to that market while taking advantage of the new Beltway linking the business park to the entire region.”

Western Realco is developing and marketing Stephanie Beltway Center on behalf of Henderson Beltway LLC of Torrance.

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