Appraisal Articles 2019 Free Appraisal Articles for Appraisers and the Public
With the announcement of the Madison Square Garden (MSG) Sphere you would think that the end of the world was coming to Las Vegas. Too much entertainment competition they say with the tens of thousands of seats being built. If you add 18,000 MSG Sphere seats to the 42,000 NFL Raider's seats to the NHL T-Mobile seats and possibly tens of thousands of planned Jackie Robinson NBA seats you have a lot of seats to fill. Personally the only problem I see with Las Vegas trying to fill all those seats is greed.
If you have been looking at industrial land in Apex you have been staring at a lot of $ 80,000 an acre asking prices and a few with highway frontage that have asking prices around $ 100,000 an acre. That’s cheap industrial dirt if you compare it to say North Las Vegas (NLV) or Las Vegas where industrial land is being sold at or above $ 320,000 an acre. Yes , that puts most Apex Industrial Park area land prices at around 25% of metropolitan industrial land. So what is that all about? Most industrial users don’t need high traffic or visibility, all they need is accessibility. The problem in the past has been the lack of water in Apex. If you have driven up to Apex recently you have seen the trenches for the new NLV water lines and the pipes are in place ready to go in them. Apex is about to solve one of its most important drawbacks.