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Category – 2017 Archive

Virtus Commercial Retail and Land Transactions of Note

Sahara centerBurlington Coat Factory of Nevada has leased approximately 48,929 SF of retail space at Sahara Center, located at 1000 W. Sahara Ave. Ste. 130-140, in Las Vegas.  Ted Baker of New Market Advisors represented the Lessor, Sahara Center LLC and Jeff Mitchell & Joe Cooley of Virtus Commercial represented the Lessee.

 

 

 

3545 PorAll Team Towing has leased approximately 34,412.40 SF of land located at 3545 Procyon St., in Las Vegas.  Troy Tobler and Erick Ramirez of Virtus Commercial represented the Lessor, 3500-3675 Procyon LLC.

 

 

 

 

 

TenayaLino’s Pizza has leased approximately 2,400 SF of retail space at Tenaya Village, located at 7240 W. Azure Dr. Ste. 145, in Las Vegas.  Robert S. Hatrak II represented both the Lessee & the Lessor, Tenaya Village LLC.

 

Flamingo Chateau Sells For $16 Million – Northcap Multifamily

FlamingoCoverPic (1)Robin Willett, Devin Lee, CCIM, Jerad Roberts, and Jason Dittenber, of  Northcap Multifamily are pleased to announce the recent sale of Flamingo Chateau for $16,600,000.  The sale consisted of 136 multifamily units, located at 6570 W. Flamingo Road, Las Vegas, NV.

Flamingo Chateau was built in 1992. There are one and two-bedroom floor plans that consist of fully-equipped kitchens, spacious walk-in closets, fireplaces, private balconies/patios along with in-unit washers and dryers.

The transaction closed on May 22nd, 2017.  Northcap Multifamily  was pleased to have worked with the Seller, Flamingo Garden Villas, LLC, in this successful transaction.

Colliers Transactions of Note

  • 3330 & 3340 East Tropicana AvenueA sale to Tropicana Nevada LLC. The approximately 44,826 square foot retail property is located in Tropicana Cinemas at 3330 & 3340 E. Tropicana Ave. in Las Vegas. The transaction value was $3,200,000. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the seller, Tropicana 26 LLC. Mike DeLew, SIOR and Greg Pancirov, SIOR of Colliers International represented the buyer.

 

 

 

  • DCIM100MEDIAA sale to Gregory Voudouris and Judith Vourdouris. The approximately 23,000 square foot industrial property is located at 5425 S. Valley View Blvd. in Las Vegas. The transaction value was $3,000,000. Dean Willmore, SIOR, Alex Stanisic and Chelsy Cardin of Colliers International represented the seller, Isromorphism Holdings LLC. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the buyer.

 

 

 

 

  • 4760 Cecile AvenueA sale to Tower Ventures CRE LLC. The approximately 10,000 square foot industrial property is located at 4760 Cecile Ave. in Las Vegas. The transaction value was $2,415,000. Dean Willmore, SIOR, Pat Marsh, SIOR, Chelsy Cardin and Sam Newman of Colliers International represented the seller, Larry A. Britz 55 and Dorothy M. Evans.

 

 

 

 

 

  • 9360_9460 West Sahara AvenueA sale to Y. W. Sang Realty Group LLC. The approximately 2,508 square foot single lessee NNN El Pollo Loco restaurant is located at 9460 W. Sahara Ave. in Las Vegas. The transaction value was $2,266,000. David Grant of Colliers International represented the seller, La Paz Viejo Company.

 

 

 

 

 

  • 5965-1 West Wigwam AvenueA sale to General Investments LLC. The approximately 7,120 square foot industrial property is located in Wigwam Jones Industrial Park at 5965-1 W. Wigwam Ave. in Las Vegas. The transaction value was $904,240. Dan Doherty, SIOR, Chris Lane and Jerry Doty of Colliers International represented the seller, MCA Wigwam LLC.

 

 

 

 

  • 4455 South Virginia StreetA sale to Roberto’s Taco Shop. The approximately 2,300 square foot retail property is located at 4455 S. Virginia St. in Reno, NV. The transaction value was $1,300,000. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the buyer.

 

 

 

 

 

  • 2330 South Highland DrA sale to 2330 Highland LLC. The approximately 15,936 square foot industrial property is located at 2330 S. Highland Drive in Las Vegas. The transaction value was $1,025,000. Grant Traub and Chris Connell of Colliers International represented the seller, Clark County Credit Union. Dean Willmore, SIOR of Colliers International represented the buyer.

 

 

 

 

  • 4646 Copper Sage APN 140 05 110 011A sale to Lancaster Yard LLC. The approximately 3.50 acre land parcel is located at 4646 Copper Sage St. (APN: 140-05-110-011) in Las Vegas. The transaction value was $850,000. Mike DeLew, SIOR and Greg Pancirov, SIOR of Colliers International represented the buyer.

 

 

 

 

  • 4210 North Lamb Boulevard, Suite 110A sale to Danny Muallem. The approximately 4,195 square foot industrial property is located in Northpointe Business Center at 4210 N. Lamb Blvd., Suite 130 in Las Vegas. The transaction value was $415,000. Dean Willmore, SIOR and Alex Stanisic of Colliers International represented the seller, FJM Northpointe Associates LLC.

 

 

 

 

 

  • 3950 West Harmon AvenueA lease to Just for Show Inc. The approximately 100,000 square foot industrial property is located at 3950 W. Harmon Ave. in Las Vegas. Dean Willmore, SIOR and Alex Stanisic of Colliers International represented the lessee.

 

 

 

 

  • 530 Pamalyn Avenue, Suite BA lease to It’s All Volleyball LLC. The approximately 25,567 square foot industrial property is located in Jennifer Park at 530 Pamalyn Ave., Suite B in Las Vegas. Dean Willmore, SIOR and Alex Stanisic of Colliers International represented thelessor, 2930 Marco Street LLC.

 

 

 

 

  • DCIM100MEDIAA lease to Sobel Westex. The approximately 18,888 square foot industrial property is located in Highland Industrial Center at 2950 S. Highland Drive, Suite EF in Las Vegas. Chris Connell and Grant Traub of Colliers International represented the lessor, FKC Highland LLC.

 

 

 

 

  • 7135 Bermuda RoadA lease to Loyalty Brand Marketing LLC. The approximately 8,432 square foot industrial property is located in Bermuda Industrial Center at 7135 Bermuda Rd. in Las Vegas. Greg Pancirov, SIOR and Mike DeLew, SIOR of Colliers International represented the lessor, McBeath Holdings LLC.

 

 

 

 

  • 7565 Commercial Way, STE EA lease to Heritage Exposition Services Inc. The approximately 4,848 square foot industrial property is located in Valley Freeway Commerce Center at 7565 Commercial Way, Suite E in Henderson. Greg Pancirov, SIOR and Mike DeLew, SIOR of Colliers International represented the lessee.

 

 

 

 

  • 3475 West Post Road, Suite 110A lease to Alpha & Omega Ministries Inc. The approximately 3,825 square foot industrial property is located in Diamond Southwest Industrial Center at 3475 W. Post Rd., Suite 110 in Las Vegas. Greg Pancirov, SIOR and Mike DeLew, SIOR of Colliers International represented the lessor, Diamond Southwest Industrial Park LLC.

 

 

 

 

  • 4210 North Lamb Boulevard, Suite 130A lease to F&F Electric Inc. The approximately 2,827 square foot industrial property is located in Northpointe Business Center at 4210 N. Lamb Blvd., Suite 110 in Las Vegas. Dean Willmore, SIOR, Alex Stanisic and Chelsy Cardin of Colliers International represented the lessor, FJM Vegas Holdings LLC.

 

 

 

 

  • 1925 Village Center CircleA lease to Ideal Image of Nevada LLC. The approximately 2,590 square foot retail property is located at 1925 Village Center Circle in Las Vegas. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the lessee.

 

 

 

 

  • 3625 West Teco Avenue, Ste 5A lease to KMC Enterprises LLC. The approximately 2,000 square foot industrial property is located in The Granite Industrial Center at 3625 W. Teco Ave., Suite 5 in Las Vegas. Greg Pancirov, SIOR and Mike DeLew, SIOR of Colliers International represented the lessee.

 

 

 

 

  • DCIM100MEDIAA lease to Builders Customer Services Administration. The approximately 1,691 square foot retail property is located in Gibson Business Plaza at 149 N. Gibson Rd., Suite D in Henderson. Mike DeLew, SIOR and Steven Haynes of Colliers International represented the lessor, CKS LLC. Brian Riffel and Tyler Jones of Colliers International represented the lessee.

 

 

 

  • 2190 East Pebble Road, Suite 240A lease to Kreative LLC. The approximately 1,686 square foot office property is located in Pebble Place Business Center at 2190 E. Pebble Rd., Suite 240 in Las Vegas. Suzette LaGrange, CCIM and Kara Walker, CCIM of Colliers International represented the lessor, CVK LLC.

 

 

 

 

  • 5275 South Arville Street, Suite 200A lease to Dollar Enterprises LLC. The approximately 1,379 square foot industrial property is located in Hacienda Crossing at 5275 S. Arville St., Suite 200 in Las Vegas. Greg Pancirov, SIOR, Mike DeLew, SIOR and Dean Willmore, SIOR and Chelsy Cardin of Colliers International represented the lessor, FJM Vegas Holdings LLC. Alex Stanisic of Colliers International represented the lessee.

 

 

 

 

  • 2654 West Horizon Ridge Parkway, Suite B-5A lease to Irene Fenolio / PostNet. The approximately 1,235 square foot retail property is located in Horizon Pointe at 2654 W. Horizon Ridge Pkwy., Suite B-5 in Henderson. David Grant, Al Twainy, CCIM and Amelia Hyden of Colliers International represented the lessor, Villa La Paloma LLC.

Avison Young Represents Landlords In Two Lease Negotiations

1505 WigwamBarton Hyde and Scott Donaghe of Avison Young represented both the landlord, Henderson Medical Properties and the tenant, Nevada Eye Physicians in the 120 month lease of a 9,307 square foot medical office suite located at 1505 Wigwam Parkway, Suites 101 & 102.  The total value of the transaction was $2,352,000.

 

 

 

 

3390Scott Donaghe of Avison Young represented the landlord, Lone Mountain Village West in the 124 month, 1,202 square foot retail lease at 3390 Novat Street, C120, Las Vegas to the tenant, Cow3, LLC.  The total value of the transaction was $276,000.

Cushman & Wakefield Commerce Grows Las Vegas Team With The Addition Of Kimberly Noack-Summers

unnamedThe Las Vegas office of Cushman & Wakefield Commerce has added industry veteran Kimberly Noack-Summers as a Director to its roster of seasoned industrial brokers. Summers specializes in industrial sales, leasing, development and investment sales.

“Throughout her career, Kimberly has successfully executed numerous transactions that were extremely complex and multifaceted,” said Michael Dunn, Market Leader for the Las Vegas office of Cushman & Wakefield Commerce. “She Joins the family team of Warren and Travis Noack, where she will leverage market knowledge and industry experience on behalf of our clients.”

Prior to joining Cushman & Wakefield Commerce, Summers was Vice President, Brokerage Services at Gatski Commercial in Las Vegas and prior to that she was Vice President for 18 years at NAI Capital – South Bay in Torrance, California.

Summers earned a MBA in Finance from Loyola Marymount University, Los Angeles, Calif.; a BA in Finance, California State University Fullerton, Fullerton, Calif.; and Financial Paraplanner Designation from the College for Financial Planning, Denver, Colo.

David Afromsky Of HiTower Realty Closes The Following Transactions

David Afromsky recently represented the Seller (PAR Homes 1,  LLC) in the sale of 2480 E Tompkins Ave. (office building) for $2.1MM.  The building was multi-tenant and 100% occupied.  The Buyer (Alson Lee and Linda NG) were represented by Nicholas Faskaris of ASF Realty).

 

David Afromsky represented IMMI(Integrated Medical Management Inc.) in the lease of 12,528rsf at Desert Canyon Plaza, 9127 West Russell Road, suite 100, LV NV 89148.  The Transaction was valued at $1,662.166.00.  The Landlord (Beltway One Development Group) was represented by Bobbi Miracle of Commercial Executives.

 

David Afromsky represented the Landlord (BGM Red Rock Inc.) in the lease of 23,681rsf of retail space to ROSS Stores, Inc. dba “dd’s” at 1435A West Craig Road, North Las Vegas Nevada, 89032.  The transaction is valued at $1,906,321.00.  The Tenant was represented by Lisa Callahan of SAGE Commercial Advisors.  The dd’s store is slated to open the end of August 2017.

Avison Young Hires David Jewkes As Managing Director, Brokerage Operations

David JewkesMark E. Rose, Chair and CEO of Avison Young, the world’s fastest-growing commercial real estate services company, announced today that highly regarded industry veteran David Jewkes has joined the firm as Managing Director, Brokerage Operations in Las Vegas. Effective immediately, Jewkes will provide overall management and leadership of Avison Young’s brokerage operations in Las Vegas. He brings more than 25 years of commercial real estate management and transaction experience to Avison Young, most recently as Senior Vice-President, Nevada with Cushman & Wakefield.

“We are thrilled that David has decided to take on this leadership role with us in Las Vegas,” comments Rose. “David’s extensive work providing strategic client services in all sectors of commercial real estate over the last 25 years – and his thoughtful approach – will complement Avison Young’s collaborative culture.” Rose continues: “David has a sterling reputation as an advisor to institutional and regional investors and is known for his business development acumen, having successfully grown asset services portfolios and attracted top transactional professionals in his prior roles. As he serves as Managing Director, Brokerage Operations, his leadership, focus and dedication to innovation will be excellent additions to our company as we continue to execute on strategic expansions domestically and abroad.”

During his career, Jewkes has served clients in Nevada, California, Utah and Arizona. In addition to managing operations, he has developed specific expertise in business development and investor service. “David’s lengthy experience, along with his investment sales expertise and the respect that he has gained in the Las Vegas business community, will be of tremendous value to our clients and company,” states Earl Webb, Avison Young’s President of U.S. Operations. “Furthermore, David’s experience with investment transactions will help us expand our leasing services, and his presence alone will help us recruit top real estate talent.

Risks And Opportunities Facing The Commercial Real Estate Industry

SooziThe election of Donald Trump has made for uncertain times. Ecommerce and millennials are changing the commercial real estate industry. And retail’s loss has been industrial’s gain. Those are just a few of the takeaways from an in-depth report published by the National Association of REALTORS® (NAR) on the risks and opportunities facing the commercial real estate industry. Leaders of the Commercial Alliance Las Vegas (CALV) have been reviewing this report and its more than 120 pages. And at least one CALV leader had a hand in creating it.

Soozi Jones Walker, CCIM, SIOR and a former CALV president, was one of the independent commercial real estate brokers interviewed for the project she calls “The Danger Report.” One of her main takeaways is the fact that the average age of a commercial real estate professional keeps increasing and is now up to 60 years old. “I’m excited NAR has chosen to review the commercial industry and agree fully with the results of this danger report,” she said. “With an average age of the commercial agent now at 60, there is a huge opportunity for new agents to mentor under successful brokers and transition into their book of business.” The NAR report is titled “Commercial Real Estate ALERT: Analysis of the Latest Emerging Risks and Trends.”

The Strategic Thinking Advisory Committee of the NAR produced the report along with T3 Sixty, Inc., a leading research and information company. For four months, between November 2016 and February 2017, researchers interviewed senior executives from the five largest commercial real estate companies − CBRE, JLL, Newmark Grubb Knight Frank, Cushman & Wakefield and Colliers International − as well as numerous medium-size and regional companies. Besides these interviews, the NAR report relied on information and studies from the Urban Land Institute, American Bankers Association, International Facility Management Association, CCIM Institute, NAIOP Research Foundation, the Federal Reserve, The Appraisal Journal, PWC, Wells Fargo and others. “This study was made significantly more complicated due to the fact that the presidential elections fell during this window, and that the unexpected win by President Donald Trump and the subsequent realization that his leadership style would be unpredictable and impactful made many issues difficult to address,” the report states. The report concluded that “uncertainty is at an all-time high.”

Some of the highlights include:

• According to NAIOP, by 2025, the industry will face a shortage of 15,000 to 25,000 qualified leaders, without enough younger leaders to replace them. • Technology will continue to enhance every aspect of commercial real estate, from smart buildings to driverless vehicles. By 2025, it will have altered the economics of entire subsectors of the industry and changed the way real estate developers and the investment community operate

. • E-commerce has been invading every part of the economy, and now it is expected to have a significant impact on commercial real estate. • In 2016, the National Retail Federation reported that for the first time, shoppers made more purchases online during the Black Friday weekend than were made in the stores.

• As millennials enter the heart of their careers, their preference to be “totally connected” with immediate access to the Internet has followed them into the business world. For the industry, the biggest impact has been the transformation of the retail industry into a “click and knock” strategy that is altering what retail centers look like and “driving massive changes in the industrial sector.”

Please click the link here to view the full report.

 


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