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Category – June 2015

Las Vegas Retail Transactions Continue At A Strong Pace – Virtus

Virtus

  • Paint Party Night, LLC leased approximately 1,316 square feet of retail space at Buffalo Alta Center located at 450 S. Buffalo Drive, Suite 109 in Las Vegas. Brett S. Beck of Virtus Commercial represented the lessor, Buffalo Alta Center, LLC, and the lessee.
  • Game Changer LV, LLC leased approximately 1,438 square feet of retail space at Buffalo Alta Center located at 450 S. Buffalo Drive, Suite 111 in Las Vegas.  Brett S. Beck of Virtus Commercial represented the lessor, Buffalo Alta Center, LLC.
  • Mark Perry dba Local Realty leased approximately 1,268 square feet of retail space in Cimarron Square located at 9265 S. Cimarron Road, Suite 130 in Las Vegas.  Brett S. Beck of Virtus Commercial represented the lessee.
  • Vitamin Cottage Natural Food Markets Inc leased approximately 14,080 square feet freestanding building in Centennial Crossing located at 6305 Simmons Street in North Las Vegas.  Dan Adamson of ROI Commercial represented the lessor, George Roberts Inter Vivos Trust, Doris I. Wenger & David G. Emert Trust, Mrs Doris I. Wenger, Trustee; and James Craddock of Craddock Commercial (Colorado) and Jeff Mitchell of Virtus Commercial represented the lessee.

 

Mayan Plaza Sells for $23,050,000

NAI Vegas’ Sauter Multifamily Group is pleased to announce the successful sale of Mayan Plaza, 316 Unit Apartment Building located at 1700 Alta Drive, Las Vegas, NV 89106 for $23,050,000 ($72,943 per unit) on 06-25-15. The Buyer of this property was FF Realty II, LLC and the Seller was 1700 Alta, LLC. NAI Vegas represented the buyer in the transaction.

Commercial Executives Secures Tenant At Pace Business Center

5575. S DurangoSoozi Jones Walker, CCIM, SIOR and Bobbi Miracle, CCIM, SIOR of Commercial Executives Real Estate Services recently represented Pace Business Center in the leasing of 1,984 square feet of Office space located at 5575 S. Durango Dr. Suite 107, Las Vegas, NV 89113 to Geneva Financial Group, LLC. The lease is for 36 months and the transaction is valued at over $77,000. The approximate aggregate value of the lease is $1.07 per square foot.

Plaza North Secures Long Term Tenant

9320 Sun CityBob Miller, CCIM, RPA & Laramie Bracken of Gatski Commercial represented South Grove Ave, LLC in the lease of 2,358 square feet of Retail space located at 9320 Sun City Blvd. Las Vegas, NV 89134. The tenant McKay Law Firm, Chartered will lease for a term of term of 72 months. The total consideration for this lease is $198,072.00. The approximate aggregate value of the lease is $1.17 per square foot.

Silverado Auto Plaza Gets Hemmed In

1310 E silverado 2Chris Emanuel of Virtus Commercial represented Silverado Auto Partners in the renewal of 1,000 square feet of Retail space located at The Silverado Auto Plaza, 1310 E. Silverado Ranch Boulevard, Las Vegas, NV 89119. The tenant, Linh’s Alterations, will occupy Suite 104 for an additional term of 60 months. The total consideration for this lease is $95,564.44. The approximate aggregate value of the lease is $1.59 per square foot.

Colliers Las Vegas Stays Busy This Summer

Colliers LogoA sale to Jahan Moslehi. The approximately 75,999 square-foot retail property is located in Sunrise City Plaza at 2797 S. Maryland Pkwy. in Las Vegas. The transaction amount was $6,750,000. Joseph Bonifatto of Colliers International represented the seller, MLCFC 2007-7 Maryland Parkway LLC

A sale to Highland Properties 1415 LLC. The approximately 34,560 square-foot industrial property is located at 4635 Andrews St. in North Las Vegas. The transaction amount was $2,500,000. Dean Willmore SIOR of Colliers International represented the seller, JPet Las Vegas, LLC.

A sale to David Hauser. The approximately 5,864 square-foot office property is located at in The Fairways at Highland Plaza at 1661 Horizon Ridge Pkwy., Suites 200 and 250 in Las Vegas. The transaction amount was $715,408. Bridget Richards CCIM and Jason Lesley CCIM of Colliers International represented the seller, Sunstone Horizon LLC.

A sale to Warrior Acquisitions LLC. The approximately 160 acre golf course is located at 3901 Kedron Rd. in Spring Hills, TN. Keith Cubba of Colliers International represented the seller, SPE GO Holdings LLC.

A lease to Diversified Demo. The approximately 7,540 square-foot industrial property is located at 4555 W. Reno Ave. in Las Vegas. Eric Molfetta of Colliers International represented the lessee and the lessor, Mom LLC.

A lease to Natalie Goldie. The approximately 2,131 square-foot industrial property is located in the Decatur Bell Commerce Center at 5030 S. Decatur Blvd. in Las Vegas. Dean Willmore SIOR, Mike DeLew SIOR, and Greg Pancirov SIOR of Colliers International represented the lessor, FJM Vegas Holdings LLC.

A lease to Corporate Technology Solutions Inc. The approximately 1,800 square-foot industrial property is located in the Valley View Business Center at 6280 S. Valley View Blvd., Suite 238 in Las Vegas. Renae E. Russo KP, LEED GA of Colliers International represented the lessee.

A lease to The Flying Squirrel LLC. The approximately 19,881 square-foot industrial property is located in the Arroyo South Business Center (Phase I) at 7200 S. Montessouri St., Suite 150-170 in Las Vegas. Spencer Pinter of Colliers International represented the lessor, EJM Arroyo South I Property LLC.

A lease to Preferred Mortgage Services Inc. The approximately 2,670 square-foot office property is located in Anthem Executive at 11500 S. Eastern Ave., Suite 200 in Henderson. Taber Thill SIOR, Ryan Martin CCIM, SIOR of Colliers International represented the lessee.

A lease to Cycle Gear Inc. The approximately 5,480 square-foot industrial property is located in the Arrowhead Commerce Center at 6280 S. Pearl St., Suites 100 & 200 in Las Vegas. Spencer Pinter, Dan Doherty SIOR and Chris Lane of Colliers International represented the lessor.

A lease to McKesson Medical-Surgical Inc. The approximately 5,000 square-foot industrial property is located in the Arrowhead Commerce Center at 6295 S. Pearl St., Suite 700 in LasVegas. Spencer Pinter, Dan Doherty SIOR and Chris Lane of Colliers International represented the lessor, Prologis.

A lease to TCS John Huxley America Inc. The approximately 16,288 square-foot industrial property is located in the Patrick Commerce Center at 6171 McLeod Dr., Suite K-M in Las Vegas. Dan Doherty SIOR, Spencer Pinter, Susan Borst CCIM, Chris Lane and Jerry Doty of Colliers International represented the lessor, BKM Patrick 102 LLC.

A lease to Patrick’s Signs LLC. The approximately 13,500 square-foot industrial unit and approximately 5,000 square-foot yard is located in Jonathan Park at 3311 Meade Ave., Suite C in Las Vegas. Dean Willmore SIOR of Colliers International represented the lessor, Jonathan Park LLC.

The Centre at Spanish Trail Inks New Deal

6787 west tropicanaBarton Hyde of Avison Young represented 6787 Tropicana, LLC in the lease of 1,084 square feet of Office space located at The Centre at Spanish Trail, 6787 West Tropicana Ave, Las Vegas, NV 89103. The tenant Apex Properties and Management will occupy the suite for a term of 69 months. The total consideration for this lease is $54,000.00. The approximate aggregate value of the lease is $0.76 per square foot.

Samrose Center in Henderson Gains 6,728 SF Tenant

181 N ArroyoKris Watier and Brian Seibold of Avison Young represented the Samrose Center, 181 North Arroyo Grande Blvd, Henderson, NV 89074 in the lease of 6,728 square feet of Office space. The tenant, M.E.P. CAD, will occupy Suite 105 for a term of 39 months. The total consideration for this lease is $302,000.00. The lessee was represented by Marc Magliarditi and Jason Brooks of The Equity Group. The approximate aggregate value of the lease is $1.15 per square foot.

Up Means Down For Las Vegas Valley Economy

Up arrowBetter-than-expected job growth cut the Las Vegas Valley’s jobless rate to a seven-year low in May according to an article in the Las Vegas Review Journal. (click link for full article).

The valley’s unemployment rate fell to 6.6 percent in the month, down from 7.2 percent in April and 7.8 percent in May 2014, the state Department of Employment, Training and Rehabilitation said Tuesday. It’s the first time since June 2008 that local joblessness dropped below 7 percent.It’s also the first time since 2008 that unemployment in Nevada’s three metro areas — Las Vegas, Reno and Carson City — came in below 7 percent.“Overall, the metropolitan areas are moving in the right direction, mirroring the health of the state as a whole,” said Bill Anderson, the employment department’s chief economist.

Special thanks to NAI Vegas for sharing this report.

 

Fort Apache Twain Shopping Center Welcomes New Tenant

FortApacheTwainPlazaYuchun Wang & Five Star Gold, LLC signed a 39-month $65,520 lease for 1,200 square feet of retail space at Fort Apache Twain Shopping Center located at 3635 S. Fort Apache Road, Suite 203 in Las Vegas. Frank Liu with NVWM Realty represented the tenant and Troy Tolber with Virtus Commercial represented the landlord,  Twin 168, LLC.  The reported average rent equals $1.40 per square foot.


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