Patricia Quiroa leased 1,200 square feet of retail space for 120 months at 5061 E. Sahara Ave, Ste 103 in Las Vegas, from East Sahara & Nellis, LLC. Total consideration was $206,345.64 or $1.43/SF. Nelson Tressler and Michael Zobrist of Newmark Grubb Knight Frank represented the lessor in the transaction. Roberto Chavarin of Las Vegas Realty represented the lessee in the transaction.
Colliers International has hired Brian Fike as vice president of investment services. Offering nearly 30 years of experience in the real estate industry, Fike is responsible for representing buyers, sellers, tenants and developers of net-leased investments with Colliers. He has lived in Las Vegas for 57 years.
Marcus & Millichap announced the sale of three Las Vegas multifamily properties: Villas at Desert Pointe, a 346-unit apartment complex, the 296-unit Lake Sahara and the 140 unit Arville Park. The properties are three of the four assets in the 938-unit Las Vegas4 portfolio (the remaining property is the 156-unit Park Vista). Villas at Desert Pointe sold for $18,155,000 ($52,471 per unit), Lake Sahara sold for $15,196,999 ($51,341 per unit) and Arville Park sold for $7,260,000 ($51,857 per unit_.
Hamid Panahi in Marcus & Millichap’s Phoenix office and Joshua Jordan in the firm’s Las Vegas office represented the seller, a Southern California-based private equity real estate investment firm. Panahi and Jordan also procured the buyer, Westland Real Estate Group.
Villas at Desert Pointe was built in 1973 on 8.5 acres at 895 Sierra Vista Drive. The gated-access community features two swimming pools and a spa with Wi-Fi connectivity, four elevators, 12 laundry facilities and a residents’ garden. Constructed in 1972 on nearly 11 acres, Lake Sahara is located at 2500 Karen Ave. The property has a swimming pool and a wading pool with Wi-Fi, five laundry facilities, a children’s playground and a dog park. Arville Park was built in 1975 on 5.6 acres at 2600 Arville St. and features six laundry facilities, a basketball court, a swimming pool and a picnic area with barbecues.
NAI Vegas’ Sauter Multifamily Group announced the sale of Merlayne Villas, a 32 Unit Apartment Building located at 409 & 417 E. Merlayne Drive, in Henderson. The property sold for $2,200,000 ($68,750 per unit) and was purchased by HKAS Ltd. The Seller was Vegas Venture Holdings, LLC. Devin Lee and Robin Willett with NAI Vegas represented the parties.
Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, has named retail and net-lease specialist Ray Germain as associate vice president investments, according to John J. Kerin, president and CEO.
- A lease to Floor R Forever LLC. The approximately 18,000 square-foot industrial property is located in Jonathan Park at 3311 Meade Ave., Ste. B in Las Vegas. Dean Willmore, SIOR of Colliers International represented the lessor, Jonathan Park LLC.
- A lease to Interior Visions Inc. The approximately 9,969 square-foot industrial property is located in Paradise Airport Center at 6870 Paradise Rd. in Las Vegas. Greg Pancirov, SIOR and Mike DeLew, SIOR of Colliers International represented the lessee.
- A lease to Arms Unlimited Inc. The approximately 1,765 square-foot industrial property is located in Diamond Southwest Industrial Center at 3515 W. Post Rd, Ste. 125 in Las Vegas. Greg Pancirov, SIOR and Mike DeLew, SIOR of Colliers International represented the lessor, Diamond Post Inc.
- A lease to KRP Wealth Management LLC. The approximately 1,142 square-foot office property is located at 5450 W. Sahara Ave., Ste. 350 in Las Vegas. Renae Russo, KP, LEED GA of Colliers International represented the lessor J & Z International Inc.
- A lease to Controlled Motion Solutions Inc. The approximately 8,368 square-foot industrial property is located in Warm Springs Business Center – Phase II at 7220 Dean Martin Dr., Ste. 400 in Las Vegas. Spencer Pinter of Colliers International represented the lessor, WSL Properties, LLC.
- A lease to Pyramid Logistics Services Inc. The approximately 39,929 square-foot industrial property is located in Arrowhead Commerce Center, Building 15 at 3755 E. Post Rd., Ste. 100 & 110 in Las Vegas. Spencer Pinter, Dan Doherty, SIOR, Susan Borst, CCIM, Chris Lane and Jerry Doty of Colliers International represented the lessor, KTR LV IIII LLC.
Panattoni Development Company and Hillwood Investment Properties have formed a joint venture to develop a ±480,000-square-foot speculative bulk warehouse facility as Phase II of the South 15 Airport Park. The building will be constructed on a 28-acre site the partners recently acquired in the West Henderson industrial park. The South 15 Airport Center, located directly east of the Henderson Executive Airport and approximately one mile from the interchange of I-15 and St. Rose Parkway, is already home to a 320,000-square-foot FedEx Ground facility which was Phase I of the park. Neighbors include the Levi Strauss fulfillment center, Maverick Airlines, Southwest Gas Training & Operations Center, Cox Communications, Cashman (CAT) Equipment and the M Resort & Casino, to name a few. Features of the South 15 Class A building will include: ample car and trailer parking, a crossdock configuration, 36-foot clear height, LED light fixtures, a high number of dock doors, grade level loading and many more features.
The Colliers International industrial team of Dan Doherty, SIOR, Susan Borst, CCIM, Chris Lane and Jerry Doty represented the seller, South 15 Partners, on the $5.6 million land sale. The team will also be representing the owner of the planned industrial development on the site. The Panattoni/Hillwood partners are planning for project completion by the third quarter of 2016.
On November 4th, the UNLV Lied Institute for Real Estate Studies will honor The Smith Center, Don Snyder and Myron Martin with its 2015 Lieder Award. This award is most apropos as we acknowledge the contributions of Don Snyder and Myron Martin with their relentless efforts and exceptional achievements in the cultural development of Las Vegas, as well as their outstanding work on behalf of the arts and community development in Southern Nevada.
The Lied Institute for Real Estate Studies will also recognize the achievements of Debra March by presenting her the 2015 LIFRES Award. This newly created award enables us to acknowledge an individual who has contributed to the growth and sustainability of the Lied Institute.
Wednesday, November 4, 2015
6:00 p.m. - Cocktails
7:00 to 9:00 p.m. - Dinner and Award Presentations
Four Seasons Hotel Las Vegas
The Smith Center
Table of ten sponsorships can be purchased for $5,000, $3,000 and $1,950. Individual seats can be purchased for $195 each.
MCA Realty recently added its 14 property to its portfolio with the purchase of the 21,807 SF single tenant industrial building located at 2020 Pama Lane in Las Vegas for $1.86 million or $85/SF. MCA Realty was represented by Danielle Steffen and Amy Ogden at Cushman & Wakefield.The Pama property represents the fourth asset purchased in 2015, joining 3200 & 3280 West Sunset Road in Las Vegas, 2750 W. Brooks Avenue in North Las Vegas and 6335 Sunset Corporate Drive in Las Vegas.