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Category – July 2012

Nellis Industrial Park Signs 3-Year Lease

Nellis Industrial Park Signs 3-Year LeaseMG Exhibition Design Co. signed a 3-year, $85,350 lease for 13,500 square feet of mid-bay industrial space inside Nellis Industrial Park, on 2.5 acres, at 4606 Andrews St., Suite 4, in North Las Vegas. Cushman & Wakefield-Commerce’s Dean Willmore represented the lessor, 4606 LLC; Albright Callister & Associates’ Bryan Houser represented the tenant. The reported average rent equals 18 cents per square foot triple net.

Red Rock Water Extends Canyon Lakes Lease

Red Rock Water Extends Canyon Lakes LeaseRed Rock Springs Water signed a 1-year, $11,427 lease extension for 856 square feet of retail space inside the 12-year-old Canyon Lakes Plaza, on 5.57 acres, at 9132 W. Sahara Ave. in Las Vegas. Cushman & Wakefield-Commerce’s Liz Clare and Jacqueline Young represented the lessor, Granite Canyon Lakes LLC. The reported average rent equals $1.11 per square foot triple net.

For Sale Industrial Inventory Tightens

For Sale Industrial Inventory TightensThe availability of owner/user industrial space tightened valley wide in the second quarter, reports Colliers International researcher John Stater. No new industrial projects were completed in the first half of 2012. There was 3.23 million square feet of industrial space up for sale at the end of June, or about 18,000 square feet less than a year ago. Over the same period, however, the average asking price for owner/user industrial sales decreased to $95-per-square-foot from $101-per-square-foot. For the full report, CLICK HERE.

LV Hotel Market Brightens in Second Quarter

LV Hotel Market Brightens in Second QuarterHotel occupancy in Clark County has averaged 87% in 2012, a 0.1% increase over 2011, and a 4% increase over 2010, suggesting that Southern Nevada’s tourist industry has largely recovered, reports Colliers International. Clark County’s average daily rate is $109.56 in 2012, a 4.2% increase over 2011. Valley visitor volume totaled 13,081,046 visitors through the first four months of 2012, approximately 400,000 more visitors than last year. Meanwhile, convention attendance is up slightly compared to last year, as are the number of passengers at McCarran International Airport. For the full report, CLICK HERE.

Hacienda Business Center Adds Tenant

Hacienda Business Center Adds TenantLas Vegas Banner Factory signed a 26-month, $73,762 lease renewal for 6,740 square feet of industrial space inside the 13-year-old Hacienda Business Center, on 0.31 acres, at 4572 W. Hacienda Ave., Suite 5, in Las Vegas. Cushman & Wakefield-Commerce’s Amy Ogden and Danielle Steffen represented the lessor, Barbara T. Menna. The reported average rent equals 42 cents per square foot triple net.

Gymnastics Academy Extends Whitney Ranch Lease

Gymnastics Academy Extends Whitney Ranch LeaseAcademy of Gymnastics & Dance signed a 58-month, $387,613 lease renewal for 17,591 square feet of industrial space inside the 12-year-old Whitney Ranch Business Center at 1000 N. Stephanie St., Suite 101, in Henderson. Cushman & Wakefield-Commerce’s Susan Borst represented the lessor Whitton Corp. The reported average rent equals 38 cents per square foot triple net.

GK International Group Renews Lease

GK International Group Renews LeaseGK International Group Inc. signed a 3-year $117,060 lease for 5,924 square feet of industrial space inside the 12-year-old Koll Business Center, on 40 acres, at 6125 S. Valley View Blvd., Suite E, in Las Vegas. 88 Realty’s Shawn Shahryari represented the lessee; Colliers International’s Spencer Pinter represented the lessor, Valley View I, II & III, LLC. The reported average rent equals 55 cents per square foot triple net.

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