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Category – April 2016

Colliers Transactions of Note

7200-Montrssouri-StreetA lease to Racing Optics Inc. The approximately 10,257 square foot industrial property is located in Arroyo South Business Center (Phase I) at 7200 Montessouri St., Suite 100 in Las Vegas. Spencer Pinter of Colliers International represented the landlord, EJM Arroyo South I Property LLC. Greg Pancirov, SIOR and Mike DeLew, SIOR of Colliers International represented the lessee.

 

 

 

7445-Dean-Martin-DriveA lease to Everi Games Inc. The approximately 10,176 square foot industrial property is located in Eldorado Business Center at 7445 S. Dean Martin Dr., #121-122 in Las Vegas. Dean Willmore, SIOR and Chelsy Cardin of Colliers International represented the landlord, TLF Logistics II Eldorado Business Center.

 

 

 

400-Shadow-LaneA lease to JSA Healthcare Nevada LLC. The approximately 3,684 square foot office property is located in Shadow Medical Center at 400 Shadow Ln., Suite 207 in Las Vegas. Stacy Scheer, CCIM, LEED GA, Taber Thill, SIOR, Ryan Martin, CCIM, SIOR and Patti Dillon of Colliers International represented the landlord, B&R Receivership LLC.

 

 

 

4240-Lamb-BlvdA lease to Kirk Mobile LLC. The approximately 2,687 square foot industrial property is located in Northpointe Business Center at 4240 N. Lamb Blvd., Suite 105 in Las Vegas. Dean Willmore, SIOR and Chelsy Cardin of Colliers International represented the landlord, FJM Northpointe Associates LLC.

 

 

 

2700-Patrick-LaneA lease to Paul Janik. The approximately 1,938 square foot industrial property is located in Patrick Airport Center at 2700 E. Patrick Ln., Suite 11 in Las Vegas. Dean Willmore, SIOR, Mike DeLew, SIOR, Greg Pancirov, SIOR and Chelsy Cardin of Colliers International represented the landlord, Stockbridge Patrick and Mojave LLC.

 

 

 

2875-Patrick-LaneA lease to H.I.S. Tours USA Inc. The approximately 1,728 square foot industrial property is located in Patrick Commerce Center at 2875 E. Patrick Ln., Suite N in Las Vegas. Spencer Pinter, Dan Doherty, SIOR, Susan Borst, CCIM, SIOR, Chris Lane and Jerry Doty of Colliers International represented the landlord, BKM Patrick 102 LLC.

 

 

 

4171-Distribution-CircleA lease renewal to Four Queens LLC. The approximately 29,136 square foot industrial property is located in North Las Vegas Distribution Circle at 4171 Distribution Cir., Suite 101 in North Las Vegas. Dan Doherty, SIOR, Susan Borst, SIOR, CCIM, Chris Lane and Jerry Doty of Colliers International represented the lessor, Icon PAC Nevada Owner Pool 3 Nevada.

 

 

 

3595-Patrick-Bldg.5A lease to Conn Appliances Inc. The approximately 8,642 square foot industrial property is located in Arrowhead Commerce Center (Building 5) at 3595 E. Patrick Ln., Suite 900 in Las Vegas. Spencer Pinter, Dan Doherty, SIOR, Susan Borst, SIOR, CCIM, Chris Lane and Jerry Doty of Colliers International represented the lessor, KTR LV IV LLC.

 

 

 

8050-Arville-StreetA lease to U.S. Jaclean Inc. The approximately 6,250 square foot industrial property is located in Blue Diamond Business Center at 8050 Arville St., Suite 110 in Las Vegas. Dean Willmore, SIOR, Dan Doherty, SIOR, Susan Borst, SIOR, CCIM, Chris Lane and Jerry Doty of Colliers International represented the lessor, Juliet Properties.

 

 

 

385-Pilot-RoadA lease to Aquavit Life Sciences Inc. The approximately 6,221 square foot industrial property is located in McCarran Commerce Center at 385 Pilot Rd., Suite F in Las Vegas. Dan Doherty, SIOR, Susan Borst, SIOR, CCIM, Chris Lane and Jerry Doty of Colliers International represented the lessor, DM Airport LLC.

 

 

 

4045-Post-Road-5.A lease to Creative Solutions LLC. The approximately 2,080 square foot industrial property is located in Annie Oakley Business Park at 4045 E. Post Rd. in Las Vegas. Renae Russo, KP, LEED GA of Colliers International represented the lessor, Gifford Consulting LLC.

Recent Virtus Commercial Transactions

72horizonRoberto’s Taco Shop, LLC  leased 2,397 SF of retail space at Black Mountain Marketplace located 72 W. Horizon Ridge Parkway, Suite 150/155, in Henderson. Chris Emanuel with Virtus Commercial represented the landlord, Blk Mtn 1 & Blk Mtn 2.

 

 

 

 

4825apache_sBoca Do Brasil, LLC renewed 1,400 SF of retail space at Desert Palms Plaza located at 4825 S. Fort Apache Road, Suite H, in Las Vegas. Chris Emanuel with Virtus Commercial represented the landlord, The Hamid and Christine Ravan Revocable Living Trust.

 

 

 

72horizonTechnoscribe, LLC & Rodolfo Janeo, L renewed 2,000 SF of retail space at Black Mountain Marketplace located at 72 W. Horizon Ridge Parkway, Suite 100, in Henderson. Chris Emanuel with Virtus Commercial represented the landlord, Blk Mtn 1 & Blk Mtn 2.

 

 

Yardi’s RentCafe Reviews The Top 10 Completions Of 2015

Rentcafe ReportLas Vegas has never claimed to be one of the big players in the residential construction boom that we’ve seen in recent years all across the US, yet in 2015 the city’s rental market heated up, particularly in the large scale developments sector. Bolstered by employment growth in the hospitality, leisure, and technology industries, the local economy is back in the game – and with it the apartment market.

RentCafe has documented 11 major rental developments with 50+ units that have been completed in 2015, boosting Las Vegas’ rental inventory by more than 2,500 apartments. Are you wondering if this is a lot? Well, you could say that, since it’s more than triple the number that entered the market in 2014 – around 760 rental apartments in 50+ unit buildings.

Aside from being a sign of the much-anticipated recovery of the housing sector, this is good news for the city’s renters as well. The growing number of apartment options has much to do with the relative affordability of the market and with what Las Vegas renters shell out on housing every month – around $840 on average, according to data from Yardi Matrix. Meanwhile, the national average rent has hit an impressive $1,181 in March 2016. Vegas rents are expected to increase 4.2% this year, with job growth following closely at 2.7%.

As to what these new apartment projects bring to the table, they come with all the bells and whistles to cater to all tastes, budgets, and demographic groups, including the young renter cohort – the so-called Millennials – that have taken over the City of Lights in recent times. Here we’ve listed the 10 largest developments completed in 2015 in Vegas (the 376-unit Lyric, with its prime location on the south end of the Strip, smoke-free environment, and resort-style amenities is definitely a must-see.

Please click here to review the entire report

 

Index finds that local businesses have become more confident in the near-term future

unlvbschoolThe Southern Nevada Business Confidence Index, constructed by the Center for Business and Economic Research (CBER) at the University of Nevada, Las Vegas (UNLV), increased by 3.4 percent on a quarterly basis from 130.7 to 135.1 in the first and second quarters of 2016, respectively (Figure 1). The index includes five components: business expectations of (i) general economic conditions in Nevada, (ii) sales, (iii) profits, (iv) hiring, and (v) capital expenditures. The index remains well above 100, which implies that respondents, on average, feel more positive than negative about the five components. Moreover, the index has exceeded 100 for the past five years. All five components also exceeded 100 for the second quarter of 2016 (Figure 2). The index values for business expectations of economic conditions, sales, profits, hiring, and capital expenditures scored 142.7, 146.2, 140.2, 125.4, and 121.0, respectively.

View the full report.


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