Soares, Inc. DBA Baskin Robbins renewed their 1,200 sf lease at Tropicana East Shopping Center Phase I – Suite 1 for 60 more months. Total transaction value was $123,300. Chris Emanuel and Kammy Bridge of Virtus Commercial represented the landlord in the transaction.
Salina Ramirez of Commercial Executives Real Estate Services recently represented Bayview Loan Servicing in the sale of a 1,448 +/- sf office building located at 150 S. Decatur Blvd, Las Vegas, NV to Ingris N. Lopez. The transaction is valued at $215,000.
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The Rio Hotel & Casino
3700 W Flamingo Road
Las Vegas, NV 89103
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Reservation Deadline is 5:00 p.m. Monday, October 5, 2015. Cancellations must be received in writing by deadline date to receive a refund. Fees are due if notice of cancellation is not received. Faxed and emailed reservations are considered firm and unpaid no-shows will be billed.
SOOZI JONES WALKER, CCIM, SIOR AND BOBBI MIRACLE, CCIM, SIOR OF COMMERCIAL EXECUTIVES RECENTLY REPRESENTED JANET YASUKO KOTAKE IN THE LEASING OF 2,553 +/- SF OF OFFICE SPACE LOCATED AT 6169 S RAINBOW BLVD, LAS VEGAS, NEVADA TO CHILDREN’S DENTAL SPECIALISTS, LLP. THE LEASE IS FOR 60 MONTHS AND THE TRANSACTION IS VALUED AT $328,000.
Soozi Jones Walker, CCIM, SIOR and Bobbi Miracle, CCIM, SIOR of Commercial Executives Real Estate Services recently represented Allen-Milan, LLC in the leasing of 1,699 +/- SF of retail/restaurant space located at 7885 W. Sunset Suite 180, Las Vegas, NV to Lifetime Health Concepts, LLC. The lease is for 62 months and the transaction is valued at $181,435.
• A lease to Cassandra Mathas d/b/a Cassandra Mathas. The approximately 817 square-foot office property is located in Spanish Vista Office Building at 4955 S. Durango Dr., Ste 107 in Las Vegas. Chris Connell and Grant Traub of Colliers International represented the lessor, WJA Properties LLC and Gold Pac Capital LLC.
•A lease to Full Color Games Inc. The approximately 2,527 square-foot office property is located in The HC|Hughes Center at 3773 Howard Hughes Pkwy, in Las Vegas. Ryan Martin, CCIM, SIOR, Patti Dillon, and Taber Thill, SIOR of Colliers International represented the lessor, BRE/HC Las Vegas Property Holdings LLC.
• A lease to David Yi d/b/a Red Rock Auto. The approximately 12,000 square-foot industrial property is located at 3700 Regulus Ave in Las Vegas. Chris Connell and Grant Traub of Colliers International represented the lessor, Chung Enterprises LP.
• A lease to West Coast Movers Inc. The approximately 20,000 square-foot industrial property is located in Harsch Quail Industrial Center at 3555 W. Quail Ave., Ste B/C in Las Vegas. Spencer Pinter of Colliers International represented the lessor, On The Go Leasing LLC.
• A lease to Galbert, LLC. The approximately 2,505 square-foot industrial property is located in Century Park at 5850 S. Polaris Ave., Ste 900 in Las Vegas. Spencer Pinter of Colliers International represented the lessor, WSL Century Park Property LLC.
• A lease to Fusion Professional Services LLC. The approximately 1,113 square-foot office property is located at 5450 W. Sahara Ave., Ste 104 in Las Vegas. Renae Russo of Colliers, KP, LEED GA of Colliers International represented the lessor, J&Z International Inc.
• A lease to Next Level Volleyball LLC. The approximately 4,800 square-foot industrial property is located in Patrick Commerce Center at 6171 McLeod Dr. in Las Vegas. Dan Doherty, SIOR, Spencer Pinter, Chris Lane, Susan Borst, CCIM and Jerry Doty of Colliers International represented the lessor, BKM Patrick 102 LLC.
• A sale to GK Acquisitions LLC. The approximately 4.87 acre vacant land property is located approximately 5 acres east of Durango Dr. and Erie Ave. at APN: 176-33-201-001 in Las Vegas. The transaction value was $350,000. Vince Schettler of Colliers International represented the buyer.
Brian Eisendrath and Annie Rice of CBRE’s Beverly Hills office, along with Robert Ybarra of CBRE’s Las Vegas office arranged a full-term, interest-only, floating rate loan at approximately 82% LTV. Kennedy Wilson will implement a value-add renovation program upon acquisition.
“We were able to move quickly and close within one month of application. Obtaining a full-term, interest-only loan with attractive leverage will allow Kennedy Wilson to implement its business plan,” said Mr. Eisendrath.
Built in 1996, Alexander Gardens consists of 480 units with a mix of one-, two-, and three-bedroom units averaging 923 square feet. The property is in proximity to the 270-acre Las Vegas Technology Center, a major employment hub that continues to expand and is anchored by Mountain View Hospital and United Healthcare.
“We are extremely satisfied with Brian and his team’s ability to overcome hurdles and exceed the terms quoted at application,” said Phillip Wintner, CFO, Multifamily Group of Kennedy Wilson. “They were able to accommodate a fast close while securing aggressive financing at a 2.69 percent start rate.”
“This is our second acquisition in Las Vegas in the last twelve months,” added Kurt Zech, President of Multifamily Investments at Kennedy Wilson. “Alexander Gardens is well-positioned to take advantage of a value-add renovation program. Brian and his team delivered a final commitment in a very tight frame and pushed the lender to increase proceeds by $1.48 million, allowing us to improve returns to our investors. Their access to market information and attention to detail resulted in a seamless execution.”
Alexander Gardens has access to the Las Vegas Valley, including the Las Vegas strip and Downtown Las Vegas via US-93/US-95, which connects to interstates 15 and 215 to the north.
Maria Romero DBA No Drama Bail Bonds signed a 36-month $43,263 lease for 1,380 square feet of retail space inside Plaza Las Americas located at 546 N. Eastern Avenue, Suite 130, in Las Vegas. Jakke Farley with Virtus Commercial represented the lessee and Matt Stone with Las Vegas Development Company represented the lessor, Plaza Las Americas. The reported average rent equals 87 cents per square foot.
Children’s Dental Specialists, LLP leased 2,553 SF of office space located at 6169 S. Rainbow Blvd., in Las Vegas for 60 months at $328,000. Soozi Jones Walker, CCIM, SIOR and Bobbi Miracle, CCIM, SIOR of Commercial Executives represented the lessor, Janet Yasuko Kotake. The transaction is valued at $2.14/SF.