JAZ Investment purchased Pavell Medical Center, a 47,623 SF property, for $6,200,000. The property is located at 3059/3061 Maryland Parkway, 89109. Liz Clare and Jackie Young of Avison Young represented JAZ. The seller,JPNP Investment, was represented by Barton Hyde and Aaron Goldberg of Avison Young.
Category – October 2015
Ying Tsz Leung sold 5,200 square feet of office space at 3860 W. Ann Road to Annallen LLC and VVP Olsen. Total consideration was $290,000.00 or $55.77/SF. Ben Millis and Chris Beets of Newmark Grubb Knight Frank represented the buyer in the transaction. Ron Branson of Realty One represented the seller in the transaction.
Kassy Sharma dba Diya Eyebrows Threading leased 1,200 square feet of retail space for 64 months at 5775 S. Eastern Ave, Ste 102, from MCP Airport Center LLC. Total consideration was $154,432.15 which equates to $2.01/SF. Nelson Tressler and Michael Zobrist of Newmark Grubb Knight Frank represented the lessor in the transaction.
Winston & Michael Cho signed a 36-month $50,040 lease for 1,440 square feet of retail space at Rancho Alta Mira located at 4990 W. Craig Road, Unit A5, in Las Vegas. Jeff Mitchell and Preston Abell with Virtus Commercial represented the lessor, Alta Mira Shopping Center, LLC. The reported average rent equals 97 cents per square foot.
Quickee Burger, LLC signed a 39-month $38,389.74 lease for 1,098 square feet of retail space at Whitesands Plaza located at 4310 E Tropicana Avenue, Suite 11, in Las Vegas. Jakke Farley and Preston Abell with Virtus Commercial represented the lessee and lessor, High Valley III, LLC in the transaction. The reported average rent equals 90 cents per square foot.
Tresja Christopher Agency signed a 60-month $99,000 lease for 1,202 square feet of retail space at Lone Mountain Village West located at 3350 Novat Street, Suite 120, in Las Vegas. Deron Conway of ROI Commercial represented the lessee. Liz Clare, CCIM and Jackie Young of Avison Young represented the lessor, Lone Mountain Village West. The reported average rent equals $1.37 per square foot.
Prairie Falcon Office Properties, Ltd. purchased the 23,056 square-foot multi tenant office buildings located at 7361 & 7365 Prairie Falcon Road in Las Vegas for $2,760,000, or $119.71 per-square-foot, from Origin Saginaw, LLC & BGM Pecos Pads, Inc. The properties were 88% occupied at time of closing. Mike Delew with Colliers represented the buyer and David Afromsky with HiTower Realty represented the seller.
YI Ranches, LP purchased the 12,588 square-foot single tenant investment office building located at 3965 S. Durango Drive in Las Vegas for $4,000,000, or $317.76 per-square-foot, from TEG Durango Pointe LLC. The State of Nevada Department of Welfare occupies the entire building which helped the seller fetch a 6.1% sold price Cap rate. David Afromsky with HiTower Realty represented the buyer and Brendan Keating with LOGIC Commercial Real Estate represented the seller.
Mosaic Six LLC purchased approximately 6.43 acres of vacant land located on East Tropical Pkwy. and Linn Ln. (APNs: 123-28-601-011, 123-28-601-013 and 123-28-601-015) in North Las Vegas. The transaction value was $400,000. Vincent Schettler of Colliers International represented the buyer.
ND Holdings, LLC sold 7.79 acres of vacant land at E. Owens (APN 140-26-102-002 & 003), to Prudent Ventures,LLC. Total consideration was $500,000.00. Ben Millis and Chris Beets of Newmark Grubb Knight Frank represented the buyer in the transaction. Vince Schettler of Colliers International represented the seller in the transaction.
The approximate aggregate value of this land sale transaction is 1.47 per square foot of land