New $101 million Pepsi plant under construction
BY TONY ILLIA
PepsiCo, the global soft drink giant, is building a new $101 million production and bottling facility in the southwest Las Vegas Valley. The two-building, 427,000-square-foot complex is located near the northeast corner of Rainbow Boulevard and Sunset Road, adjacent to the 215 Beltway. Situated on 35.2 acres, the custom-built facility will feature three production lines as well as warehouse and distribution space.
Construction is scheduled to finish in November followed by installation of the high-tech processing equipment. The new facility is expected to start producing and distributing soft drinks and bottled water by summer 2008. Lexington, Ky.-based Gray Construction Co. is the design-build general contractor, with Gerald A. Cox & Co. of Virginia Beach as architect. Denver-based Conception to Reality Inc. is providing design, procurement and management of the processing equipment.
The facility, which will create 34 full-time jobs with benefits, received $4.5 million in business and tax incentives over the next 10 years from the Nevada Commission on Economic Development.
The Pepsi Bottling Group has exclusive fountain, can and bottle soft drink supplier contracts with the Riviera, the Grand Canal Shoppes at The Venetian, the Fremont Street Experience and the Hooters Hotel and Casino, among other venues.
"The exciting part about Las Vegas for Pepsi Bottling Group is the unique business opportunity we have, as the city continues to grow as a global destination," said Ed Kauffeld, Pepsi's Las Vegas market vice president and general manager. "Pepsi enjoys a market share of more than 60 percent in the Las Vegas gaming channel now, and we're thrilled about that."
Purchase, N.Y.-based PepsiCo is one of the world's largest food and beverage companies with more than $35 billion in annual revenue. Its principal businesses include Frito-Lay snacks, Pepsi-Cola beverages, Gatorade sports drinks, Tropicana juices and Quaker foods. Its portfolio includes 17 brands that generate $1 billion or more each in annual retail sales.
Sletten Construction of Nevada is building a new $72.68 million Regional Transportation Commission bus maintenance facility at 5165 W. Sunset Road. Designed by C-B Nevada, the 34.2-acre complex calls for construction of maintenance, administration, wash and fueling buildings and equipment.
Burke & Associates is building the $4.5 million, 18,168-square-foot St. Bridget's Catholic Church at 220 N. 14th St. in downtown Las Vegas. Designed by JVC Architects, the two-story, mission-style building features stained glass and covered walkways. Construction is scheduled to finish in December.
Crisci Builders recently completed a new $1.5 million, 4,500-square-foot standalone Bank of America pad inside Juliet Cos.' Blue Diamond Crossing shopping center at 4112 Blue Diamond Rd.
MILLION DOLLAR DEALS
3 Kids LLC bought a 44,488-square-foot industrial building at 3855 W. Harmon Ave. for $8.65 million, or $194 per square foot, from Hydro Dynamics Corp. IPG Commercial's Danielle Steffen represented the buyer.
Hyo Jin Kim bought a 6,725-square-foot retail building on 1.4 acres in Summerlin at 2025 Village Center Circle for $3.75 million from Red Hawk Properties, LLC. Colliers International's Scot Marker represented the seller.
Jonathan Schwartz bought 2.17 acres of vacant land at Wigwam and Jones Boulevard for $2 million, or $921,658 per acre, from D&D asset Management. IPG Commercial's Dean Willmore and Joe Samples represented the buyer.
Tahoe 7 bought 14,143 square feet of industrial space inside Shea at Sunset at 3644 E. Sunset Rd. for $1.6 million, or $114 per square foot, from Sunset Pecos Equity Investors, LLC. Prudential Commercial Real Estate's Steven Santanna represented both the buyer and seller.
Warm Springs Office Investors bought 6,398 square feet of office space inside Shea at Warm Springs at 1522 W. Warm Springs Rd. in Henderson for $1.47 million, or $230 per square foot, from Warm Springs & Stephanie Office Investors, LLC. Prudential Commercial Real Estate's Steven Santanna represented both the buyer and seller.
Silver State Analytical Laboratories bought 14,143 square feet of industrial space inside Shea at Sunset at 3638 E. Sunset Rd. for $1.47 million, or $104 per square foot, from Sunset Pecos Equity Investors, LLC. Prudential Commercial Real Estate's Steven Santanna and Miriam Campos-Root represented the seller and buyer.