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Category – September 2016

Daniel Palmeri of Cushman & Wakefield Commerce Achieves SIOR Designation

Palmeri_DanDaniel Palmeri, SIOR of Cushman & Wakefield Commerce Las Vegas has achieved the SIOR  Office designation awarded by the Society of Industrial and Office REALTORS®. SIOR is a Washington, DC-based international professional organization of more than 3,000 commercial real estate professionals, 2,800 of whom have earned the coveted SIOR designation.

“We congratulate Dan on earning the distinguished SIOR designation,” said Mike Dunn, market leader for the Las Vegas office of Cushman & Wakefield Commerce. “He is an incredible leader and a credit to the commercial real estate profession in the Las Vegas market and we are honored to have him on our team.”

Palmeri has had a significant impact on the Las Vegas market during his tenure in the Las Vegas real estate market, representing high-profile companies such as Bank of America, State Farm, Davita Medical Group, and State Bar of Nevada. With over 10 years of experience, Palmeri has developed expertise in office tenant representation, leasing, and sales.

Palmeri’s other accolades include Cushman & Wakefield/Commerce Las Vegas, Top Office Broker of the year, 2015 and 2014; Las Vegas Business Press, Rising Stars of Business Class of 2012; and CoStar Power Broker of the Year, 2010 and 2015.

To achieve the SIOR designation, Palmeri completed at least five years of creditable experience in the highly specialized field of office real estate; met stringent education requirements; and demonstrated professional ability, competency, ethical conduct, and personal integrity.

Individuals who hold the SIOR designation are top producers in the commercial real estate field and are represented in more than 630 cities in 29 countries around the world. SIOR enforces a strict code of ethics and required designees to complete its ethics course within their first three years of membership.

Nevada REALTORS® Elect New Officers for 2017, led by 2017 NVAR President Greg Martin, and Name David R. Tina Realtor of the Year

NVAR_LogoThe Nevada Association of REALTORS® (NVAR) named David R. Tina of Las Vegas its REALTOR® of the Year and announced its newly elected officers for 2017, led by incoming president and longtime Nevada REALTOR® Greg Martin of Elko.

NVAR’s directors elected NVAR officers for the coming year during the association’s board meeting last week in Elko. In addition to Martin, 2017 officers include:

·      President-elect Heidi Kasama, of Las Vegas

·      Vice President Keith Lynam, of Las Vegas.

·      Treasurer Leroy “Buck” Schaeffel, of Mesquite.

·      Immediate Past President David R. Tina, of Las Vegas.
 

Board members for 2017 will be installed in December at NVAR’s annual meeting in Las Vegas.

Each NVAR officer has extensive experience serving in leadership positions in state and local REALTOR® associations. For example, Kasama, Lynam and Tina are all past presidents of the Greater Las Vegas Association of REALTORS®, while Martin is a past president of the Elko County Association of REALTORS®.

Tina was named NVAR’s REALTOR® of the Year after leading the statewide association as its president in 2016. 

GLVAR Elects New Officers, Board Members for 2017

glvarThe Greater Las Vegas Association of REALTORS® (GLVAR) announced the results of its annual election of officers and board members, with local REALTORS® David J. Tina serving as president in 2017 and Christopher Bishop serving as 2017 president-elect.  GLVAR members voted during September, electing the following officers and directors to lead Southern Nevada’s largest professional association in 2017:

President – David J. Tina

President-Elect Christopher Bishop

Vice President – Janet Carpenter

Treasurer – Thomas Blanchard

Immediate Past President – Scott Beaudry

Directors: Shawn Cunningham, Amber DeLillo, Tim Kelly Kiernan, Chantel Tilley, Julie Youngblood

REALTORS® not up for re-election who will continue to serve on the board: Jillian Batchelor, Kolleen Kelley, Aldo M. Martinez, Brandon Roberts

Edmond Town Center Sells for $5.5 Million

CBRE New Logo 2016CBRE announces today the sale of Edmond Town Center located at 1080 West Owens, in Las Vegas. Charles Moore, CSM, Marlene Fujita-Winkel, CCIM and Bart Debuono of CBRE’s Las Vegas office represented the seller, Edmond Town Center LLC, in the $5,500,000 transaction for the 135,182 square foot property. The buyer, LA Properties Investment INC, was represented by Scot Prince and Neal Anzalotti of LogicCRE.

The property, a shopping center anchored by Buy Low Market, was purchased as an investment.

Virtus Commercial Transactions

img_3631-procyonOlympics Pallets and Licet Treto leased approximately 48,646 square feet of land space located at 3631 Procyon Street in Las Vegas.  Troy Tobler of Virtus Commercial represented the lessor, 3500-3675 Procyon, LLC. 

 

 

 

 

img_3588-valley-viewEmpire Motor Group, Inc. leased approximately 5,296 square feet of industrial space located at 3588 S. Valley View Boulevard in Las Vegas.  Matty Jones of Hot Point Realty represented the lessee and Troy Tobler of Virtus Commercial represented the lessor, MBSC, LLC. 

 

 

 

 

img_1660-w-sunset-rdNatural Grocers by Vitamin Cottage leased approximately 14,207 square feet of retail space located at 1660 W Sunset Road in Henderson.  Dan Adamson of ROI Commercial represented the lessor, EM-50 UAV SLBCO LLC and James Craddock of Craddock Commercial (Colorado) and Jeff Mitchell of Virtus Commercial represented the lessee.

In-N-Out Sells at Sub 4.0% Cap Rate

CBRE New Logo 2016CBRE Group, Inc. announced the sale of a building occupied by an In-N-Out fast-food restaurant in Las Vegas, Nevada, for $3.7 million to MMY, LLC – a private Southern California investor. The sub 4.0% cap rate was the lowest long-term net-leased cap rate sold on record in the past 10 years.

CBRE’s Alex KozakovPatrick Wade, Eric Roy, and Matt Bear represented the seller, Great American Capital – A Los Angeles and Las Vegas based private development company. Kaji & Associates of Torrance, CA represented the buyer in this transaction.

The property, located at 9240 S. Eastern Avenue, is situated within a high-traffic retail corridor. The area has seen rental rate increases every 5 years of 12%, according to CBRE research. The building is approximately 3,500 square feet and adjacent to a 99 Cents Only store and several big box retailers.

In-N-Out Burger currently has 6 years on the remaining terms of their lease. The fast-food chain is a regional franchise with 310 locations primarily in the American Southwest and Pacific coast. The company was founded in 1948 and is headquartered in Irvine, California. In-N-Out has recently pushed beyond Southern California into Arizona, Nevada, Utah, Texas and recently Oregon.

The Las Vegas’ strengthening retail market reflected an improving local economy. The short-term forecast calls for positive growth in the Las Vegas retail market and economy. Through the end of 2016, demand for retail will continue to out-pace new supply resulting in positive absorption and continued decrease in vacancy, according to CBRE research.

Colliers International – Las Vegas and Links for Life Foundation Donate More Than $7,500 to Candlelighters Childhood Cancer Foundation

image001-1Colliers International – Las Vegas and its charitable foundation, Links for Life, teamed up to raise more than $7,500 for Candlelighters Childhood Cancer Foundation of Nevada through the charity’s 26th Annual Superhero 5K with Chet Buchanan. The annual run, held on September 10 at Exploration Peak Park in Mountain’s Edge, raised awareness and funds to fight children’s cancer in the Las Vegas community. September marks Childhood Cancer awareness month.

Colliers brokers and staff collected donations from family and friends, while its charitable arm, Links for Life, matched the amount, resulting in a total generous contribution of $7,650.72.

Colliers International’s brokers and employees take pride in their philanthropic initiatives and leadership in the community. Robert Torres, associate vice president for Colliers’ land division, is president of the board of trustees for Candlelighters this year. Additionally, Steven Haynes, associate in the land division, Vince Schettler, senior vice president in the land division and Scott Gragson, executive vice president in the land division, all proudly serve as trustees on the Candlelighters board.

Colliers and Links for Life have committed to be a $20,000 “Love” sponsor to Candlelighters, and this 5K is one of many sponsored events that they will participate in throughout this year.

“It is a sad statistic that the Las Vegas community has already lost 13 children to cancer in 2016 alone. We felt that there was and is more to be done to help these children and their families as they battle a fight that most of us will never understand.” said Courtney Goffstein, marketing manager for Colliers International Las Vegas. “Our Colliers team was proud to participate in the Superhero run and be a continued supporter for Candlelighters.”

In total, the Candlelighter’s Superhero 5K race raised more than $200,000.

Two Woman Team Receives SIOR Designations

ogden_amysteffen_danielleAmy Ogden, Director of Industrial and Investments and Danielle Steffen, Director of Industrial and Investments of Cushman & Wakefield Commerce have each achieved their SIOR industrial designation awarded by the Society of Industrial and Office REALTORS®.

To achieve the SIOR designation, Ogden and Steffen were required to complete at least five years of creditable experience in the highly specialized field of industrial real estate; met stringent education requirements; and demonstrated professional ability, competency, ethical conduct, and personal integrity.

Individuals who hold the SIOR designation are top producers in the commercial real estate field and are represented in more than 630 cities in 29 countries around the world. SIOR enforces a strict code of ethics and required designees to complete its ethics course within their first three years of membership.

“We are very proud of Amy and Danielle’s professional achievements,” said Mike Dunn, market leader for the Las Vegas office of Cushman & Wakefield Commerce. “They have become commercial real estate powerhouses and we are honored to have them on our team. We are looking forward to their continued leadership and success.”

Business in Nevada revolves around commercial real estate and Ogden and Steffen have had a major impact on not only the industrial markets, but also on the health and stability of the Las Vegas economy. Of the many accomplishments they have had, one of the most prominent in 2016 has been bringing Faraday Future to North Las Vegas. Because of their efforts, this 940 acre of land and three million square foot factory is expected to bring approximately 4,500 jobs to the state.

Ogden and Steffen credit their success to their ethical standards and building long-lasting relationships with their clients and their ability to work seamlessly together as a team.

Colliers Transactions of Note

6231-mcleod-driveA lease to Water Tec of Tucson Inc. The approximately 5,664 square foot industrial property is located in Patrick Commerce Center (Building 5) at 6231 McLeod Dr., Suite F in Las Vegas. Spencer Pinter, Dan Doherty, SIOR, Chris Lane and Jerry Doty of Colliers International represented the lessor, BKM Patrick 102 LLC.

 

 

 

 

9225-w-flamingo-road A lease to Unifi Labs Inc. The approximately 4,639 square foot office property is located at 9225 W. Flamingo Rd., Suite 160 in Las Vegas. Chris Connell and Grant Traub of Colliers International represented the lessor, West Flamingo Road, LLC. Ryan Martin, SIOR, CCIM, Taber Thill, SIOR and Patti Dillon of Colliers International represented the lessee.

 

 

 

3515-w-post-roadA lease to McGill Cleanroom Systems Inc. The approximately 3,825 square foot industrial property is located in Diamond Southwest Industrial Center at 3515 W. Post Rd., Suite 110 in Las Vegas. Greg Pancirov, SIOR and Mike DeLew, SIOR of Colliers International represented the lessor, Diamond Post LLC.

 

 

 

 

8965-s-eastern-avenueA sublease to Supreme Lending. The approximately 3,126 square foot office property is located in Beltway Corporate Center at 8965 S. Eastern Ave. in Las Vegas. Suzette LaGrange and Kara Walker, CCIM of Colliers International represented the sublessor, Nevada Virtual Academy.

 

 

 

 

5850-s-polaris-avenueA lease to Nella Chunky LLC. The approximately 2,505 square foot industrial property is located in Century Park at 5850 S. Polaris Ave., Suite 600 in Las Vegas. Spencer Pinter of Colliers International represented the lessor, WSL Century Park Property LLC.

 

 

 

 

3875-e-craig-roadA lease to AAA Air Filter Co. Inc. The approximately 2,385 square foot industrial property is located in Craig Business Center at 3873 E. Craig Rd., Suite 1 in North Las Vegas. Greg Pancirov, SIOR and Mike DeLew, SIOR of Colliers International represented the lessor, T Properties LLC.

 

 

 

 

8784-s-maryland-parkwayA lease renewal to Aloha Enterprises LLC. The approximately 977 square foot office property is located in Scottsdale Plaza at 8784 S. Maryland Pkwy., Suite 135 in Las Vegas. Chris Connell and Grant Traub of Colliers International represented the lessor, SREF Scottsdale Plaza LLLP.


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