September 30, 2015
On November 4th, the UNLV Lied Institute for Real Estate Studies will honor The Smith Center, Don Snyder and Myron Martin with its 2015 Lieder Award. This award is most apropos as we acknowledge the contributions of Don Snyder and Myron Martin with their relentless efforts and exceptional achievements in the cultural development of Las Vegas, as well as their outstanding work on behalf of the arts and community development in Southern Nevada.
The Lied Institute for Real Estate Studies will also recognize the achievements of Debra March by presenting her the 2015 LIFRES Award. This newly created award enables us to acknowledge an individual who has contributed to the growth and sustainability of the Lied Institute.
Wednesday, November 4, 2015
6:00 p.m. - Cocktails
7:00 to 9:00 p.m. - Dinner and Award Presentations
Four Seasons Hotel Las Vegas
The Smith Center
Table of ten sponsorships can be purchased for $5,000, $3,000 and $1,950. Individual seats can be purchased for $195 each.
To purchase table(s) or seat(s) please go to https://netcommunity.unlv.edu/LiederAward2015. Please contact Betty Campbell at 702-895-4492 or firstname.lastname@example.org for more information.
September 30, 2015
MCA Realty recently added its 14 property to its portfolio with the purchase of the 21,807 SF single tenant industrial building located at 2020 Pama Lane in Las Vegas for $1.86 million or $85/SF. MCA Realty was represented by Danielle Steffen and Amy Ogden at Cushman & Wakefield.The Pama property represents the fourth asset purchased in 2015, joining 3200 & 3280 West Sunset Road in Las Vegas, 2750 W. Brooks Avenue in North Las Vegas and 6335 Sunset Corporate Drive in Las Vegas.
September 29, 2015
Michael LaBar and Michael Shaffner of Avison Young represented Norma Jakubowski in the sale of a 57 Unit Multifamily property at, 310-400 South 11th Street, Las Vegas, NV 89101. The buyer of the DT 57 Portfolio was BDR Cascadia. The total consideration for this sale is $2,619,000.
The approximate aggregate value of the transaction is $45,947.37 per apartment unit.
September 29, 2015
Ben Millis and Chris Beets of Newmark Grubb Knight Frank represented Fleetpark, LLC in the sale of 10.04 acres of land at 3940 E Lone Mountain Rd., North Las Vegas, NV 89081. Wayne Uhlir of Arizona Industrial Advisors represented the buyer, Swift Transportation Company in the transaction.
The total consideration of this land sale is $2,000,000.00.The approximate aggregate value of the transaction is $199,203 per acre and 4.58 per square foot of land.
September 24, 2015
NGKF Capital Markets, in conjunction with ARA, a Newmark Company (ARA Newmark) and Mission Capital Advisors, announced the sale of the largest multihousing bulk transaction in the city’s history to MG Properties Group, a private San Diego-based real estate investor and operator. The portfolio comprises two multihousing properties totaling 722 units and 671,290 square feet: The Village at Iron Blossom at 690 and 695 East Patriot Boulevard and Vizcaya Hilltop Apartments at 1350 Grand Summit Drive, which are both located in Reno, Nevada. The $68.1 million multihousing portfolio traded via Auction.com, the nation’s leading online real estate marketplace, following heavy bidding activity. Doug Schuster, Curt Allsop and Vittal Ram of NGKF Capital Markets provided strategic marketing services and direct investor relations as showing broker on behalf of Will Sledge and Rob Beyer from the New York offices of Mission Capital Advisors LLC, a real estate capital markets solutions firm, which was retained as the seller’s lead advisor and manager of the overall sales process.
The approximate aggregate value of the transaction is $94,321.33 per unit or $101.44 per square foot.
“This portfolio presented the ideal occasion to present this investment opportunity to a wider national audience,” remarked Schuster, senior managing director. He continued, “Mission Capital and NGKF utilized Auction.com, combined with our respective regional, national and international brokerage advisory services. The team effort ensured an on-the-ground presence for the high-demand of showings, informational requests and open houses, while also allowing for the generation of a deeper potential investor pool. This was an essential element for the successful sale of a quality portfolio positioned in a smaller market.” This Nevada multihousing investment transaction is on track to be the largest this quarter and the third largest for the year in the state.
The two-phased auction process offered two opportunities for bidding, an indicative bid round handled by Mission Capital for interested parties, and finally a scheduled final bid for the top contenders 30 days thereafter via Auction.com’s online bidding platform. During the month in between bid activity, interested parties toured the properties and completed due diligence. “On the final auction day, the online bidding activity was strong,” added Allsop. The buyer, MG Properties Group, is investing in the upside potential in what is known as “The Biggest Little City in the World”. Per Will Sledge, Mission Capital’s Managing Director “the unique approach utilizing the best-in-class services of Mission’s national platform, NGKF’s local expertise, and Auction.com’s streamlined online bidding process assured results most favorable to the seller and with the highest degree of transparency to the buyer. We were collectively very pleased with the results and by the efforts of all involved.”
September 24, 2015
Chris Emanuel of Virtus Commercial represented Black Mountain 1 and Black Mountain 2 in the renewal of 2,000 square feet of retail space at the Black Mountain Marketplace, 76 W. Horizon Ridge Parkway, Suite 150, Henderson, NV 89002. The tenant Naga Thai, Inc. will still occupy Suite 150. The total transaction value of this 120 month lease is $467,726.28.
The approximate aggregate value of the transaction is $1.95 per square foot.
September 23, 2015
Jackie Young and Liz Clare, CCIM of Avison Young represented 2199 North Rainbow Holdings in the new lease of 1,500 square feet of retail space at the Rainbow Promenade, 2101 N. Rainbow Blvd., Las Vegas, NV 89108. The tenant Armenco Restaurant Group 3 was represented by Dennis Watts of the Dapper Companies and will occupy Suite 101. The total transaction value of this 123 month lease is $382,000.
The approximate aggregate value of the transaction is $2.07 per square foot.
September 23, 2015
Barton Hyde of Avison Young represented Rainbow 2625, LLC and the tenant in the new lease of 1,952 square feet of office space at the Rainbow Professional Center, 2625 S. Rainbow Blvd., Las Vegas, NV 89146. The tenant Dr. Francis Raines will occupy Suite D-106. The total transaction value of this 40 month lease is $67,500.
The approximate aggregate value of the transaction is $0.86 per square foot.
September 22, 2015
A lease to Home By Jackie Inc. The approximately 3,112 square-foot industrial property is located in Pace Commerce Center at 5140 Rogers St., Ste D in Las Vegas. Greg Pancirov,SIOR, Mike DeLew, SIOR and Dean Willmore, SIOR of Colliers International represented the lessor FJM Vegas Holdings LLC.
A lease to Joon Instrumental Music Corp. The approximately 3,710 square-foot industrial property is located in Decatur Bell Commerce Center at 5030 Decatur Blvd, Ste H in Las Vegas.Greg Pancirov, SIOR, Mike DeLew, SIOR and Dean Willmore, SIOR of Colliers Internationalrepresented the lessor, FJM Vegas Holdings LLC.
A lease to Planet Fitness. The approximately 17,500 square-foot retail property is located in Decatur Crossing at 202 S. Decatur Blvd. Joe Bonifatto of Colliers International represented the lessor, Brixton Decatur LLC.