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Category – January 2017

Colliers Las Vegas Recent Sales and Lease Transactions

COMPLETED SALES TRANSACTIONS:

 

 

Tropical Pkwy and Range Rd (APN 123-29-601-004, 007, 010 & 013.jpegA sale to Madison/Chewy LLC. The approximately 9.56 acre land parcel is located on Tropical Pkwy and Range Rd. (APN: 123-29-601-004, 007, 010 and 013) in Las Vegas. The transaction value was $708,000. Mike DeLew, SIOR and Greg Pancirov, SIOR of Colliers International represented the seller, BMC Stock Holdings Inc. and BMC West.

 

 

 

COMPLETED LEASE TRANSACTIONS:

 

 

3650 E. Post Road, Suite DA lease to Matheson Flight Extenders Inc. The approximately 22,040 square foot industrial property is located in Arrowhead Commerce Center (Building 10) at 3650 E. Post Rd., Suite D in Las Vegas. Spencer Pinter, Dan Doherty, SIOR, Chris Lane and Jerry Doty of Colliers International represented the lessor, KTR LV IV LLC.

 

 

 

 

 

4411 McGuire StA lease renewal to DROCK Gaming LLC. The approximately 20,061 square foot industrial property is located in Nellis Industrial Park #2 at 4411 McGuire St. in North Las Vegas. Dan Doherty, SIOR, Chris Lane, and Jerry Doty of Colliers International represented the lessor, ICON PAC Nevada Owner Pool 3 Nevada.

 

 

 

 

 

3873 E. Craig Rd Ste 9-12.jpegA lease to Excellent Collision LLC. The approximately 9,844 square foot industrial property is located in Craig Business Center at 3873 E. Craig Rd., Suite 9-12 in North Las Vegas. Greg Pancirov, SIOR and Mike DeLew, SIOR of Colliers International represented the lessor, T Properties LLC.

 

 

 

 

 

8945 W Russell Rd Ste 300A lease to Messner Reeves LLP. The approximately 8,894 square foot office property is located in Pageantry at 8945 W. Russell Rd., Suite 300 in Las Vegas. Ryan Martin, CCIM, SIOR, Taber Thill, SIOR and Patti Dillon of Colliers International represented the lessee.

 

 

 

 

 

289 Pilot Rd Unit BA lease renewal to Facilities Protection Services. The approximately 4,520 square foot industrial property is located in Hughes Airport Center at 289 Pilot Rd., Unit B in Las Vegas. Renae Russo, LEED GA of Colliers International represented the lessor, Potts Properties LLC.

 

 

 

 

 

2900 E. Patrick Ln Ste 5A.jpegA lease to Constant Aviation LLC. The approximately 3,618 square foot industrial property is located in Patrick Airport Center at 2900 E. Patrick Ln, Suite 5A in Las Vegas. Chris Connell and Grant Traub of Colliers International represented the lessee.

 

 

 

 

 

6475 N. Decatur BlvdA lease to Big Drive Fitness LLC. The approximately 2,840 square foot retail property is located in Shadow Mountain Marketplace at 6475 N. Decatur Blvd. in Las Vegas. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the lessee.

 

 

 

 

 

A lease to Atherton Construction LLC. The approximately 2,511 square foot industrial property is located in Gibson Wigwam Business Center at 50 N. Gibson Rd., Suite 120, 125 and a portion of 115 in Henderson. Greg Pancirov, SIOR and Mike DeLew, SIOR of Colliers International represented the lessor, Pereya 1992 Living Trust.

 

 

870 Seven Hills Dr Ste 101A lease renewal to John Minoli MD FACS PC. The approximately 2,369 square foot medical office property is located in Seven Hills Medical and Professional Center at 870 Seven Hills Dr., Suite 101 in Henderson. Stacy Scheer, CCIM and Andrew Kilduff of Colliers International represented the lessor, West End 7 Hills LLC.

 

 

 

 

 

3853 E Craig Rd, Ste 6A lease to Auto Parts Connection. The approximately 2,084 square foot industrial property is located in Craig Business Center at 3853 E. Craig Rd., Suite 6 in North Las Vegas. Greg Pancirov, SIOR and Mike DeLew, SIOR of Colliers International represented the lessor, T Properties LLC.

 

 

 

 

 

6070 S Rainbow BlvdA lease to The Grateful Yogi LLC. The approximately 1,400 square foot retail property is located in Rainbow Pavilion at 6070 S. Rainbow Blvd. in Las Vegas. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the lessor, 6070 Rainbow Blvd LLC.

 

 

 

 

 

4860 S Eastern AveA lease to Casillas Group Investments LLC. The approximately 1,191 square foot retail property is located in Tropicana East Shopping Center at 4860 S. Eastern Ave. in Las Vegas. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the lessor, Tropicana East Shopping Center.

 

 

 

 

 

4343 N Rancho Dr Ste 218A lease to Tawanna Moore and Shanae Wren. The approximately 875 square foot retail property is located in Imperial Plaza at 4343 N. Rancho Dr., Suite 218 in Las Vegas. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the lessor, 4343 N Rancho Drive LLC.

Recent NAI Vegas Transactions

2626rainbowSeattle DIV Holdings LLC purchased Sun West Plaza II, a 16,183 SF multi-tenant property located at 2626 S. Rainbow Boulevard in Las Vegas for $1,600,000 or $99.86/SF.  Mike McLeod with Albright Callister represented the buyer and The Larkin Team with NAI Vegas represented the seller, America First Credit Union.

 

 

 

 

5470elcampoExhibit Options purchased the 20,028 SF Northern Beltway Industrial Center, Buildings 7/8 C, located at 5470 El Campo Road in Las Vegas for $1,962,744 or $98/SF.  The Larkin Team with NAI Vegas represented the buyer and the Jake & Kevin Higgins with CBRE represented the seller, Thomas & Mack Development.

 

 

 

5715alexanderAlexander Properties LTD purchased a 2,332 SF office condo (units 105 & 110) of the Alexander Commons located at 5715 W. Alexander Drive in Las Vegas for $209,880 ($90.00/SF).  The Larkin Team of NAI Vegas represented the buyer and the seller, Wells Fargo Bank.

BKM Sells 3 Industrial Business Parks

bkm BKM Capital Partners, an institutional fund manager with a niche focus on value-add, multi-tenant light industrial investments, has sold the first three multi-tenant industrial business parks in its debut fund. The three dispositions include a 223,009 square-foot multi-tenant industrial building, and a 137,603 square-foot industrial complex in Las Vegas, Nevada, and a 98,516 square-foot business park in Portland, Oregon.

“Creating value in distressed assets is our specialty,” says Brian Malliet, CEO and Co-Founder of BKM Capital Partners. “We acquire light industrial properties that require hands-on management and then implement our proven operational platform to create value, which is exactly what we did here.”

BKM repositioned and leased up all three of the assets, ultimately achieving an IRR of 38.5 percent and 2.1 multiple at the Patrick Commerce Center property, an IRR of 38.5 percent and 2.4 multiple at the Portland property Hayden Island Business Park, and an IRR of 43.3 percent and a 2.3 multiple at Wind River, all within a two-year period.

“These results demonstrate the strength of our investment thesis,” says Malliet, who explains that BKM has maintained a niche focus on value-add multi-tenant industrial assets since its inception.  “Because we understand this property type inside and out, we are consistently able to acquire these properties at a significant discount to replacement cost, providing our team with an opportunity to improve the performance of the asset and generate a return for our investors.”

BKM’s three dispositions include:

Patrick Commerce Center:

            BKM sold Patrick Commerce Center, a 223,009 square-foot industrial business park in Las Vegas.

“The Las Vegas industrial market is rapidly growing, and big-box construction is dominating the region,” says BKM’s Director of Acquisitions Brett Turner, who explains that there is essentially no new development of multi-tenant light industrial product underway in the area.

“This lack of available supply is driving significant investor demand for high-quality renovated industrial buildings such as Patrick Commerce Center, allowing us to achieve a premium price for this asset,” explains Turner.

During its ownership, BKM Capital Partners completely renovated and repositioned the property, integrating a series of capital improvements including modernizing landscaping and paint, providing new roofs, and repairing HVAC units.

“When we initially acquired this asset in 2014, the property was only 55-percent occupied,” says Turner. “Our integrated operating platform, coupled with these strategic renovations allowed us to bring occupancy up to 95-percent at close, stabilizing cash flow and increasing net operating income.”

Turner adds, “We recognized the true value potential of this asset and market very early on, which enabled us to deliver an attractive product to the market, ultimately maximizing yields for our institutional investment partners.”

            Patrick Commerce Center is located at 2875, 2925 E. Patrick, and 6151, 6171, 6231 McLeod in Las Vegas, Nevada. Colliers International represented BKM Capital Partners as the seller in this transaction.

Hayden Island Business Park:

            BKM also sold Hayden Business Park, a 98,516 square-foot business park in Portland Oregon.

BKM initially acquired the asset in 2014. “We strategically repositioned this asset by integrating a series of capital improvements, and stabilized the property through a strategic lease-up,” explains Turner. “This resulted in significant interest among buyers, allowing us to maximize returns for our investors.”

During its ownership, BKM implemented a series of capital improvements including modernizing signage, updating the paint scheme and new landscaping.

“By integrating these cosmetic upgrades, we were able to bring the property up to 98-percent occupancy with rents more in line with market,” says Turner. “We more than doubled rental rates. This created strong stabilized in-place cash flow, further adding to the appeal of the property.”

The property is located at 2400-2422, 2511-2527, 2535-2541 and 2701-2703 N. Hayden Island Drive in Portland, Oregon. David Hill at Newmark Grubb Knight & Frank represented BKM Capital Partners as the seller in this transaction.

Wind River Industrial Complex

BKM also sold Wind River Industrial Complex, a 137,603 square-foot industrial building in Las Vegas, Nevada.

“We acquired the property in 2014 at a deep discount to replacement cost and through our strategic leasing and integrated management, we were able to create significant value for the asset,” explains Turner.

BKM implemented a series of structural and aesthetic improvements to the industrial complex including creative facades, fresh paint, new signage, new roof, HVAC and re-paving of the parking lot.

“These capital improvements allowed us to significantly increase occupancy at the property in an extremely short period of time,” says Turner. “The property was operating a nearly full occupancy with positive NOI quickly after acquisition. Our ability to quickly reposition the property and bring it full cycle demonstrates the success of our niche approach and our continued strategy of creating value in distressed and under managed multi-tenant industrial properties throughout the Western region.”

The property is located at 4301-4325 South Valley View Boulevard in Las Vegas, Nevada. CBRE represented BKM Capital Partners as the seller in this transaction.

Cushman & Wakefield COMRE Builds On 2017 Success

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6625 SaharaSouthwest Pension Services, Inc leased 1,604 SF of office space at Marbaya Business Park, 6625 W Sahara Ave, Ste P009, Las Vegas 89146. Nick Barber, Jeremy Foley, and Paula Lea, CCIM of Cushman & Wakefield Commerce represented the lessor, Pacific Peninsula, LLC.

 

 

 

 

 

802n BuchananGeneral Wireless Operations Inc dba RadioShack renewed 2,000 SF of retail space at Los Posados Plaza, 802 Buchanan Blvd, Ste B1, Boulder City 89005. Nick Barber and Jeremy Foley of Cushman & Wakefield Commerce represented the lessor, Los Posados Plaza, LP.

 

 

 

 

 

330 N sandhillChrome Nail Bar Corporation leased 1,280 of retail space at Bowler Plaza, 330 N Sandhill Blvd, Ste 330B, Mesquite 89027. Dan Hubbard of Cushman & Wakefield Commerce represented the lessor, Las Virgenes, LLC.

 

 

 

 

 

2045 e cheyenneCPA Matters, LLC leased 1,200 SF of retail space at Cheyenne Pointe, 2045 E Cheyenne Ave, Ste 140, North Las Vegas 89030. Dan Hubbard of Cushman & Wakefield Commerce represented the lessor, Medford Capital, LLC.

 

 

 

 

 

Convention Center Tower1Kotobuki Marketing, Inc leased 10,882 SF of office space at Convention Center Tower, 101 Convention Center Dr, Ste 360, Las Vegas 89109. Nick Barber, Bob Hawkins, Jayne Cayton, and Matt Kreft of Cushman & Wakefield Commerce represented the lessor, Vegasstarr LLC and Concord Prime LLC.

 

 

 

 

 

 

222 s rainbowKady Cline, an individual leased 1,062 SF of office space at Red Feather Plaza, 222 S Rainbow Blvd, Ste 205, Las Vegas 89145. Pete Janemark, CCIM of Cushman & Wakefield Commerce represented the lessor, 222 Rainbow, LLC.

 

 

 

 

 

 

806 BuchananToto’s, Inc renewed 3,085 SF of retail space at Los Posados Plaza, 806 Buchanan Blvd, Ste 110 & 111, Boulder City 89005. Nick Barber and Jeremy Foley of Cushman & Wakefield Commerce represented the lessor, Los Posados Plaza, LP.

 

 

 

 

 

 

777 N RainbowElliss, Bandt, Birkin Wong, PC expanded their office space by 1,493 SF at Rainbow Business Center, 777 N Rainbow Blvd, Ste 383, Las Vegas 89107. Nick Barber and Jeremy Foley of Cushman & Wakefield Commerce represented the lessor, Rainbow Business Center, LLC.

 

 

 

 

 

6655 w saharaVogue Recovery, LLC leased 6,655 SF of office space at Marbeya Business Park, 6655 W Sahara Ave, Ste B202, Las Vegas 89146. Nick Barber and Jeremy Foley of Cushman & Wakefield Commerce represented the lessor, Pacific Peninsula, LLC.

 

 

 

 

 

118 corporate parkDel Mar Landscaping Maintenance & Design, Inc leased 1,183 SF of industrial space at Gibson Palms Corporate Park, 118 Corporate Park Dr, Ste 101, Las Vegas 89074. Leo Biedermann of Cushman & Wakefield Commerce represented the lessor, Olymbec USA, LLC.

 

 

 

 

 

5546 caminoL&G Enterprises, LLC dba All in Wireless leased 1,200 SF of retail space at El Dorado Village, 5546 Camino Al Norte, Ste 1-3, North Las Vegas 89031. Jason Park, Dan Hubbard, and Eric Rogosch of Cushman & Wakefield Commerce represented the lessor, Parlay Properties, LLC.

 

 

 

 

 

7995 w saharaNevada Real Estate Management, LLC renewed 2,364 SF of office space at Canyon Plaza, 7995 W Sahara Ave, ste 101, Las Vegas 89117. Bob Hawkins of Cushman & Wakefield Commerce represented the lessor, Winner Properties, LLC.

Marcus & Millichap Arranges the Sale of 2,334-SF Taco Bell

3221ranchoMarcus & Millichap announced the sale of Taco Bell, a 2,334-square foot net-leased property located 3221 N Rancho Dr. in Las Vegas, NV. The asset sold for $1,925,000, according to Todd R. Manning, regional manager of the firm’s Las Vegas office.

Tina D. Taylor, an investment specialist in Marcus & Millichap’s Las Vegas office, had the exclusive listing to market the property on behalf of the seller, a private investor.  There were immediate multiple offers and sold over list price to an exchange Buyer from California.

Cushman & Wakefield COMRE Starts Off Strong In 2017

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Canyon PlazaMuelbauer Law Office LTD renewed 1,395 SF of office space at Canyon Plaza, 7915 W Sahara Ave, Ste 104, Las Vegas 89117. Bob Hawkins of Cushman & Wakefield Commerce represented the lessor, Winner Properties, LLC.

 

 

 

 

 

Convention Center TowerDocu Zoom, Inc leased 2,811 SF of office space at Convention Center Tower, 101 Convention Center Dr, Ste 360, Las Vegas 89109. Katelyn Panella, Bob Hawkins, Jayne Cayton, and Matt Kreft of Cushman & Wakefield Commerce represented the lessor, Vegasstarr LLC and Concord Prime LLC.

 

 

 

 

 

CreeksideBoyou Buda, LLC leased 4,278 SF of industrial space at Creekside Business Center, 2553 E Washburn Rd, North Las Vegas 89081. Jennifer Levine, CCIM and Elizabeth Moore of Cushman & Wakefield Commerce represented lessor, Dean R & Penny S Brunner 1985 Trust.

 

 

 

 

 

3700 W DesertNancor Holdings, LLC sold 5,422 SF of industrial space 3700 W Desert Inn Rd & 3224 Procyon St, Las Vegas, 89102 for $650,000 to Heriha Universal LTD. Jennifer Levine, CCIM and Elizabeth Moore of Cushman & Wakefield Commerce represented the seller.

MDL Group Announces Several Completed Deals

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MDL Group has announced the following transactions:

  • A sale transaction was completed for a single tenant NN leased medical property of approximately ±11,995 sq ft. This property is located at 150 S Valley View Las Vegas, NV 89107. Jarrad Katz SIOR, CCIM and Galit Kimerling of MDL Group represented the seller. The property sold for $5,685,591.
  • A sale transaction was completed for a single tenant NN leased  medical property of approximately ±10,199 sq ft. This property is located at 2065 N Las Vegas Blvd Las Vegas, NV 89030. Jarrad Katz SIOR, CCIM and Galit Kimerling of MDL Group represented the seller. The property sold for $3,245,000.
  • A lease transaction completed at 930 Wigwam Pkwy for Z Batting Cages, of approximately ±12,312 square feet. The industrial building is located at 930 Wigwam Pkwy Henderson, NV 89014. Sam Scaletta and Tony Scaletta of MDL Group represented the landlord.
  • A lease transaction completed at 5645 S Eastern to Scales N Tails, of approximately ±800 square feet. The retail space is located at 5645 S Eastern Ave Las Vegas, NV 89119. Hillary Steinberg of MDL Group represented the landlord.
  • A lease transaction completed at 3160 Desert Inn to LV Cell Fix, of approximately ±1,000 square feet. The retail space is located at 3160 Desert Inn Rd #3 Las Vegas, NV 89121. Hillary Steinberg of MDL Group represented the landlord.
  • A lease transaction completed at The Shoppes at the Palazzo to REVIV, of approximately ±1,000 square feet. The retail space is located at 3327 S Las Vegas Blvd Las Vegas, NV 89109. Hillary Steinberg of MDL Group represented the tenant.
  • A lease transaction completed at Flamingo Verde to Goh Insurance & Tax, of approximately ±1,200 square feet. The retail space is located at 6020 W Flamingo Rd #13 Las Vegas, NV 89103. Lisa Anderson of MDL Group represented the landlord.
  • A lease transaction completed at Sunset Ridge Professional Plaza to Zip Hub Inc, of approximately ±4,365 square feet. The office space is located at 2920 N Green Valley #712 & #713 Henderson, NV 89014. Jerry Hagfeldt of MDL Group represented the landlord.
  • A lease transaction completed at McLeod Business Center to Climate Control Experts, of approximately ±6,270 square feet. The industrial space is located at 3070 E Post Rd #A Las Vegas, NV 89120. Jarrad Katz SIOR, CCIM and Galit Kimerling of MDL Group represented the tenant.
  • A lease transaction completed at 4011 E Sunset Rd to Abuzz LLC, of approximately ±2,354 square feet. The retail space is located at 4011 E Sunset Rd Henderson, NV 89014. Jarrad Katz SIOR, CCIM and Galit Kimerling of MDL Group represented the landlord.
  • A lease transaction completed at Pageantry West to Brighton Home Health and Hospice, of approximately ±2,076 square feet. The office space is located at 8945 W Russell Rd #310 Las Vegas, NV 89148. Jarrad Katz SIOR, CCIM, Brendan Leake and Galit Kimerling of MDL Group represented the landlord.
  • A lease transaction completed at Cameron Hacienda for SLS Production Inc, of approximately ±1,601 square feet. The industrial building is located at 5320 Cameron St Las Vegas, NV 89118. Marty Martell of MDL Group represented the tenant.
  • A lease transaction completed at Craig Road Business Center for Unity Homes LLC, of approximately ±3,281 square feet. The industrial building is located at 4550 Donovan Way North Las Vegas, NV 89081. Marty Martell of MDL Group represented the landlord.
  • A lease transaction completed at Whitney Ranch for Daniel Woods Photography, of approximately ±1,800 square feet. The industrial building is located at 1010 N Stephanie St Henderson, NV 89014. Marty Martell of MDL Group represented the landlord.

Recent Sun Commercial Transactions

Sun Commercial is pleased to announce the following recent transactions:

1700 w horizon ridge pkwyThe Sale of an Office Building was completed on December 21, 2016. The 28,691 square-foot building is located at 1700 W. Horizon Ridge Parkway, Henderson, NV. The total value of the transaction was $4,950,000.00. Cathy Jones, Paul Miachika, Roy Fritz, Jessica Cegavske, and David Livingston of Sun Commercial Real Estate, Inc. represented the Buyer, First Savings Bank and Soozi Jones Walker and Bobbi Miracle of Commercial Executives represented the Seller, Corley LLC.

 

 

 

4120 prescott road, modesto CAThe Sale of an Office Building was completed on December 22, 2016. The 16,734 square-foot building is located at 4120 Prescott Road, Modesto, CA. The total value of the transaction was $4,550,000.00. Cathy Jones, Paul Miachika, Roy Fritz, Jessica Cegavske, and David Livingston of Sun Commercial Real Estate, Inc. represented the Buyer, Burroughs Vista Livestock LP and Jake Maiorino of CoSol Commercial Real Estate represented the Seller, Catherine Cardoza Conner, LLC, Bowen Cardona LLC, and Carrie Cardoza Bordona LLC.

 

 

 

2920 N Green Valley PkwyThe Sale of an Office Building was completed on January 6th. The 27,584 square-foot building is located at 2920 N. Green Valley Parkway, Building 5, Henderson, NV. The total value of the transaction was $2,365,000.00. Paul Chaffee, Wil Chaffee, Jodi Gilbert and Dylan Weber of Sun Commercial Real Estate, Inc. represented the Seller, SAL Holdings, LLC and Joshua Michaely of International Realty represented the Buyer, LASR, LLC.

 

 

 

8076 W SaharaThe Lease with Holy Land Health LLC was completed on January 15th. The 4,309 square-foot office space is located at 8076 W. Sahara Avenue, Suite B, Las Vegas, NV. The total value of the transaction was $192,870.84. Paul Chaffee, Wil Chaffee, Jodi Gilbert and Dylan Weber of Sun Commercial Real Estate, Inc. represented both the Landlord, Sahara Plaza, LLC and the Tenant, Holy Land Health LLC.


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