Category – August 2012

Sherwood Street Apartments Sell for $500,000

Sherwood Street Apartments Sell for $500,000Vegas Venture Properties LLC bought a 49-year-old, 24-unit,apartment complex, on 0.68 acres, at 2635-2655 Sherwood St. in Las Vegas for $500,000, or $20,833 per unit, from Real Estate Investment LLC. NAI Sauter Cos.’ Devin Lee, Art Carll, Patrick Sauter and Robin Willett represented the seller and buyer. The building was 60% occupied at the time of sale.

PENTA Building Group Upgrades Bellagio’s Spa Tower

PENTA Building Group Upgrades Bellagio's Spa TowerPenta Building Group is performing a $40 million upgrade to the Bellagio’s 8-year-old, 33-story Spa Tower, including modernization of all 928 rooms and suites. The update will also add a trio of executive hospitality suites, each with a billiards lounge and a separate 2,500-square-foot home theater area for intimate gatherings. The makeover, which includes the 4,000-square-foot chairman and presidential suites, will finish in December.

La-Z-Boy Building Sells for $3 Million

La-Z-Boy Building Sells for $3 Million
Chamberlain Development LLC sold a 6-year-old, 21,610-square-foot La-Z-Boy, on 0.61 acres, inside Territory’s Centennial Gateway at 5700 Centennial Center Blvd. in Las Vegas for $3 million, or $139 per square foot, to private investment group. Marcus & Millichap’s Chris Cunning represented the seller; Marcus & Millichap’s Alvin Mansour represented the buyer. La-Z-Boy has 8 years left on a triple-net lease for the single-story standalone building.

Ric Licata, 59, Noted Nevada Architect, Dies

Ric Licata, 59, Noted Nevada Architect, DiesRichard “Ric” D. Licata – a noted Nevada architect and industry leader – died on August 18 at his home in Reno. He was 59. Licata was diagnosed with bladder cancer in late 2011; he began chemotherapy treatments in January. As principal of Licata Hansen Associates Architecture – a Reno-based multidisciplinary firm founded in 1984 with friend Matt Hansen – Licata planned, designed and built several prominent area buildings, including the Nevada State Railroad Museum in Carson City. For the full story, CLICK HERE.

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