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Category – 2011 Archive

Primestor Pays $8.8 Million for 4G Plaza

Primestor Pays $8.8 Million for 4G PlazaPrimestor Development bought the 78,849-square-foot 4G Plaza, on 9.98 acres, at 4215-4275 E. Charleston Blvd. in Las Vegas for $8,825,000, or $112-per-square-foot, from 4G Properties LLC. Anchored by El Super, the 30-year-old neighborhood shopping center was 93% leased at the time of sale. Tenants include Home Depot, Wells Fargo, Taco Bell, Big 5 Sporting Goods and SprintCB Richard Ellis’ Charles Moore, Michael Newman and Marlene Fujita represented the seller.

Coldwell Banker: Cash Dominates Home Sales

Coldwell Banker Cash Dominates Home SalesHome closings continue to be robust, with single family home closings up 20% last month over October 2010, says Coldwell Banker Premier Realty. Cash, rather than loans, are the single most common method for buying homes. Nearly 40% of single family homes were purchased with cash, while 86% of condominiums were purchased with cash, often because loans are not available for this asset class.
For the full report, CLICK HERE.

Nevada Halloween Spending to Reach $118 Million

Nevada Halloween Spending to Reach $118 MillionAn estimated 1.5 million Nevada residents will spend $118 million celebrating Halloween this year, reports the Retail Association of Nevada. It marks 10.4% increase over last year’s $107 million in Halloween spending. “Retail spending is rising in Nevada, and Halloween is always a great excuse to make a few fun purchases,” said RAN President Mary Lau. “With Halloween spending in the state expected to reach its highest level yet, there is reason to remain optimistic about sales trends throughout the rest of the year, especially during the approaching winter holiday season.”

Harsch’s Craig Commerce Center Adds Tenant

Harsch's Craig Commerce Center Adds Tenant
Premier Fresh signed a 33-month $69,726 lease for 8,008 square feet of industrial space inside Craig Commerce Center at 2629 E. Craig Road, Suite G, in North Las Vegas. NAI Las Vegas’ Tom Elkington represented the tenant; CB Richard Ellis’ Greg Tassi represented the lessor, Harsch Investment Properties. The reported average rent equals 26 cents per square foot.

Reptiles N’ Reefs Moves to Whitney Ranch

Reptiles N’ Reefs Moves to Whitney RanchReptiles N’ Reefs signed a 39-month, $69,739 lease for 1,336 square feet of retail space inside the 20-year-old Whitney Ranch Center, on 8.21 acres, at 601-699 N. Stephanie St. in Henderson. Cushman & Wakefield-Commerce Real Estate Solutions’ Dan Hubbard and Todd Manning represented the lessor, 601-699 Whitney Ranch CTR LLC. The reported average rent equals $1.34 per square foot triple-net. The 224,841-square-foot Target-anchored shopping center is 94% occupied.

Buon Gusto Pizza Renews Lease

Buon Gusto Pizza Renews LeaseBuon Gusto Pizza signed a 13-month, $30,096 lease extension for 1,200 square feet of restaurant space inside the 11-year-old Horizon Pointe, on 10.64 acres, at 2650 W. Horizon Ridge Parkway, Suite A-02, in Henderson. Cushman & Wakefield-Commerce Real Estate Solutions’ Dan Hubbard represented the lessor, Villa La Paloma LLC. The reported average rent equals $1.93 per square foot triple net. The Albertson’s-anchored center is 96.2% occupied.

Nationwide Joins Shoppes at Summerlin

Nationwide Joins Shoppes at SummerlinNationwide Mutual Insurance signed a 66-month, $217,326 lease for 2,274 square feet of office space inside the 5-year-old Shoppes at Summerlin, on 1.55 acres, at 7595 W. Washington Ave., Suite 140-150, in Las Vegas. Cushman & Wakefield-Commerce Real Estate Solutions’ Jacqueline Young represented the lessor, 7591 and 7595 W. Washington Ave LLC; CB Richard Ellis’ Christina Strickland represented the tenant. The reported average rent equals per $1.45 cents square foot triple-net.

Sunset Place Sells for $1.85 Million

Sunset Place Sells for $1.85 MillionArmen Nazarian bought the 23-year-old, 25,600-square-foot Sunset Plaza, on 10.51 acres, at 3720-3740 East Sunset Road in Las Vegas for $1.85 million, or $72 per square foot, from 3720-3740 East Sunset Road LLC. Cushman & Wakefield-Commerce Real Estate Solutions’ Dan Hubbard and Todd Manning represented the seller. The four-building neighborhood shopping center is anchored by K-Mart.

Cushman & Wakefield: 12 Retail Trends for 2012

Cushman & Wakefield 12 Retail Trends for 2012After six months of steady declines, consumer worry over the short-term economic outlook eased considerably, though overall confidence readings remain historically weak, says Cushman & Wakefield. Here are 12 retail real estate trends to watch for in 2012: global political events matter; U.S. presidential election; inflation; demographic diversity; return to urban cores; the “barbell of prosperity”; spend shift and the rise of outlets; mobile commerce, Facebook and transparency; pop-up stores; shopping as an event; shrinking footprints and the reuse of the big box; and, focus on core markets. For the full report, CLICK HERE

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