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Category – October 2012

Henderson Mini-Storage Complex Sells for $8.5 Million

Henderson Mini-Storage Complex Sells for $8.5 Million
Spense Nevada VI LLC bought an 85,205-square-foot, 693-unit Storage One facility, on 4.47 acres, at 2402 Atchley Drive in Henderson for $8.5 million, or $100 per square foot, from Anthem Mini Storage LLC. CB Richard Ellis’ Brian Pankratz represented the buyer; Colliers International’s Dan Doherty and Chris Lane represented the seller. The reported average sale price of 7-year-old facility equals $12,266 per unit.

Industrial Market Stabilizes in Third Quarter

Industrial Market Stabilizes in Third QuarterSouthern Nevada’s industrial market posted positive net absorption in the third quarter and saw an end to rising vacancy, reports Colliers International research director John Stater. While year-to-date net absorption is still deeply negative, the promise of several build-to-suit projects being completed next quarter could leave 2012 ultimately a wash – no progress, but no regress either. The average asking rent dropped one-cent to $0.48 per square
foot on a triple-net basis. For the full report, CLICK HERE.

Rainbow Robindale Center Adds Tenant

Rainbow Robindale Center Adds TenantDesign Nail Studio signed a 5-year $149,161 lease for 1,872 square feet of retail space inside Rainbow Robindale Center at 7715 S. Rainbow Blvd. in Las Vegas. Gatski Commercial’s Laramie Bracken and Joe Anderson represented the landlord, Falcon California Investments; Realty One Group’s Jenny Hsieh represented the tenant. The reported average rent equals $1.33 per square foot.

Rice Trax Teriyaki Grill Signs $508,234 Lease

Rice Trax Teriyaki Grill Signs $508,234 LeaseRice Trax Teriyaki Grill signed a 114.5-month $508,234 lease for 2,070 square feet of retail space inside the 2-year-old Rainbow Robindale Center, on 1.74 acres, at 7745 S. Rainbow Blvd. in Las Vegas. Gatski Commercial’s Laramie Bracken and Joe Anderson represented the landlord, 7729 Rainbow, LLC; Virtus Commercial’s Jeff Mitchell represented the tenant. The reported average rent equals $2.14 per square foot.

Tierra Rainbow Plaza Signs $178,000 Lease

Dr. Blaine R. Hansen signed a 3-year, $178,000 lease renewal for 2,524 square feet of medical office space inside the 7-year-old Tierra Rainbow Plaza, on 0.46 acres, at 6169 S. Rainbow Blvd. in Las Vegas. Commercial Executives’ Soozi Jones Walker and Bobbi Miracle represented the lessor, Kotake Revocable Trust. The reported average rent equals $1.96 per square foot.

 

LV Retail Market Sees Strong Third Quarter

LV Retail Market Sees Strong Third QuarterSouthern Nevada’s retail market saw third quarter vacancy decline by eight-tenths of a point to 10.3%, as net absorption more than doubled from last quarter to 345,831 square feet, reports John Stater, research director for the Las Vegas office of Colliers International. No new anchored retail projects were completed the third quarter as asking rents continued to decline. For the full report, CLICK HERE.


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