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Category – June 2017

Team Palmeri – Wainwright of Cushman & Wakefield Commerce secure $12 Million in lease values in Q2 2017

cushman1The second quarter of 2017 in Las Vegas was another strong one for leasing activity, according to the Palmeri – Wainwright tenant representative team of Cushman & Wakefield Commerce. The team of Dan Palmeri, SIOR and Natalie Wainwright, which specializes in exclusively representing tenants with their leasing, acquiring, relocating, expansions and build-to-suit projects, secured 12 tenant lease transactions totaling 155,000 square feet.

  •  A 48-month new lease to KR Young Group, Inc, was signed.  The +/- 1,867 square-foot space is located at 500 N Rainbow Blvd, Ste 105, Las Vegas, NV 89107.  Dan Palmeri, SIOR, and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Chris Johnson of Real Capital Corporation represented the Landlord.
  • A 24-month new lease to eCommerce Consultants, LLC, was signed.  The +/- 2,775 square-foot space is located at 2121 E Tropicana Ave, Studio 4, Las Vegas, NV 89119.  Dan Palmeri, SIOR, and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Ryan Misaresh of Simply Vegas represented the Landlord.
  • A lease renewal to DaVita Medical Management Services Nevada, LLC, was signed.  The +/- 13,291 square-foot space is located at 8285 W Arby Ave, Ste 100, Las Vegas, NV 89113.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.
  • A 12-month lease renewal to SolarCity Corporation, was signed.  The +/- 46,057 square-foot space is located at 7180 Pollock Dr, Las Vegas, NV 89119.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Nicola Fryatt of Thomas & Mack represented the Landlord.
  • A 65-month new lease to Centene Management Company, LLC, was signed.  The +/- 27,095 square-foot space is located at 2500 N Buffalo Dr, Ste 2400, Las Vegas, NV 89128.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Darren Lemmon, Randy Broadhead & Amy Lance of CBRE represented the Landlord.
  • A 63-month new lease to Marksman Security Corporation, was signed.  The +/- 3,079 square-foot space is located at 5820 S Eastern Ave, Ste 240, Las Vegas, NV 89119.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Mike Tabeek of Newmark Grubb Knight Frank represented the Landlord.
  • A 36-month new lease to Best Buddies International, Inc dba Best Buddies Nevada, was signed.  The +/- 2,334 square-foot space is located at 6655 W Sahara Ave, Ste A110, Las Vegas, NV 89146.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Nick Barber & Jeremy Foley of Cushman & Wakefield Commerce represented the Landlord.
  • A 63-month lease renewal to Advantage Waypoint, LLC, was signed.  The +/- 9,526 square-foot space is located at 5525 S Decatur Blvd, Ste 107, Las Vegas, NV 89118.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Lisa Chasteen of LaPour Management represented the Landlord.
  • A 60-month new lease to Caltrol, Inc, was signed.  The +/- 11,864 square-foot space is located at 300 Commerce, Ste 100, Irvine, CA 92602.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Irvine Realty Company represented the Landlord.
  • A lease renewal to DaVita Medical Management Services Nevada, LLC, was signed.  The +/- 7,604 square-foot space is located at 2851 N Tenaya Way, Ste 101, Las Vegas, NV 89128.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Bruce Follmer of CBRE represented the Landlord.
  • An 84-month lease renewal & expansion to Carroll, Kelly, Trotter, Franzen, McKenna & Peabody, was signed.  The +/- 8,352 square-foot space is located at 8329 W Sunset Rd, Ste 250 & 260, Las Vegas, NV 89113.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Nicholas Barber, Paula Lea & Jeremy Foley of Cushman & Wakefield Commerce represented the Landlord.
  • A 34-month lease expansion to Take-Two Interactive Software, Inc, was signed.  The +/- 21,156 square-foot space is located at 302 E Carson Ave, Ste 200, Las Vegas, NV 89101.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  David Scherer of Newmark Grubb Knight Frank represented the Landlord.

Most arrows pointing in positive direction for local commercial real estate market

calv_xceligentA report released today by Xceligent in partnership with the Commercial Alliance Las Vegas (CALV) shows the commercial real estate market in Southern Nevada posting mostly positive results through the first half of 2017.

“Most of the arrows continue to point in a positive direction, especially when compared to the past several years,” said CALV President Jennifer Ott, CCIM, and a longtime local commercial real estate broker who specializes in the retail market. “The retail market is a good example. After a relatively slow first quarter, we saw the retail sector pick up during the second quarter. That trend should continue through the rest of 2017.”

According to the report, the total vacancy rate for the local retail market went from 9.8 percent in the first quarter of 2017 to 9.5 percent during the second quarter. The local retail market recorded 177,756 square feet of positive absorption during the second quarter of 2017, up from 17,202 square feet during the first quarter of this year.

Tina Hickman, director of analytics for Xceligent for the Las Vegas market, said more than 200,000 square feet of retail space is under construction in Southern Nevada, with a new Walmart Supercenter in the Southwest part of Las Vegas accounting for most of that.

Meanwhile, Ott said the local office market continues to improve after seeing vacancy rates approach record highs during the recession. One reason for that, Ott and Hickman agreed, is Southern Nevada’s overall economic and job growth.

The total office vacancy rate continued to decline, dropping from 15.1 percent in the first quarter of 2017 to 14.9 percent in the second quarter. At the same time, the local office market recorded 125,089 square feet of positive absorption during the second quarter, compared to 178,805 square feet during the first quarter of 2017.

 Brenden Graves, sales executive for Xceligent in Las Vegas, noted that “although office vacancies are high, this is largely due to obsolete product on the market in the central and northeast markets. The office market actually has felt a compression in space that will likely soon affect rates.”

Hickman said 286,876 square feet of office space is now under construction in Southern Nevada, with most of it being built in the Southwest part of Las Vegas.

“Construction activity is gaining ground even more than last quarter, as we continue to see more plans in the pipeline for office development,” she added. “An additional 430,000 square feet of office space is currently planned and proposed for the Las Vegas metro area. Absorption is expected to remain positive during 2017.”

The story is similar in the Southern Nevada industrial market, where Xceligent is tracking 13 industrial buildings under construction, adding more than 3.3 million square feet of space to the market. Another 2 million square feet of space has been proposed.

Hickman said the local industrial market recorded 1.8 million square feet of positive absorption during the second quarter of 2017, more than triple the amount of activity recorded during the first quarter of 2017. Still, the total industrial vacancy rate increased to 6.0 percent during the second quarter, up from 5.6 percent during the first quarter.

“Industrial vacancy rates have experienced a slight increase due to the new inventory,” she explained. “Much of this space is scheduled to be occupied within 2017, and absorption is expected to continue an upward trend.”

Graves also commented on rising land costs and the increasing number of multifamily developments being built around Southern Nevada.

“In regard to land, we’re seeing that prices on a per-acre basis have outrun most product types’ appetite,” he said. “This has created an influx of land purchased for multifamily, and we’re not sure where the renters are going to come from.”

Xceligent, a growing provider of commercial real estate information locally and nationally, partners with CALV and local commercial real estate professionals through their Quarterly Advisory Boards to produce quarterly reports on trends and conditions in the office, industrial and retail markets in Southern Nevada. The report released this week covers activity through the second quarter of 2017.

Ott, whose professional designations include being a Certified Commercial Investment Member (CCIM), is one of dozens of leading local brokers who volunteer to serve on advisory boards that help verify and produce these reports.

 

NVAR Brings Smiles And School Supplies To Students Across Las Vegas

BackPack-Gaughan23[2]Nevada REALTORS® are teaming up with Boys & Girls Clubs throughout the state to collect school supplies for students served by the clubs. The summer school supply drive is being organized by the Nevada Association of REALTORS® (NVAR) and its LeadershipNVAR Class of 2017 to benefit Boys & Girls Clubs throughout Nevada.

LeadershipNVAR, NVAR’s signature program for personal and professional growth, is promoting the drive as part of its annual class project. REALTORS® are donating a wide array of school supplies, including backpacks, pencils, erasers, folders, three-ring binders, notebooks, markers, dictionaries, crayons and other school supplies to designated locations around the state. Like last year’s class, LeadershipNVAR is working with Boys & Girls Clubs of America, a partner charity for the National Association of REALTORS® (NAR).

The current LeadershipNVAR class of 15 Nevada REALTORS® includes members from Las Vegas to Minden and from Reno to Elko. Las Vegas REALTOR® Stephanie Dibbs-Mangual, a 2017 LeadershipNVAR class member and project leader, said REALTORS® have a rich history of giving back in their communities, and LeadershipNVAR continues to promote that ideal. “This drive is a big challenge to our leadership class and our REALTOR® friends across the state,” she said. “It will be exciting, too. Our class fully intends to get to work and promote the value of these donations. We want to bring many smiles to the children who thrive in these clubs and the staff that works tirelessly to help kids.”

Summerlin Retail Center Renovation Begins In Earnest

Rampart Commons_Progress (1)A popular retail destination in the Summerlin area is getting a face lift. Shawn Danoski, CEO of Las Vegas-based DC Building Group, announced today that the general contractor has started the redevelopment of the site and facade of the Rampart Commons retail center at the northwest corner of Charleston and Rampart boulevards.

The project includes a revamp of the building facades, interior shell work in preparation for future tenants, and an overall redevelopment of the 8.28-acre site. The scope of work includes building and site demolition, AC pavement mill and overlay, underground utilities, pavement markings and signage, specialty site benches and trash receptacles, landscaping and irrigation, site concrete, building concreate, site pavers, building masonry, structural steel, awnings, canopies, insulation, roofing, brick veneer, metal wall panels, doors, storefront, framing, drywall, stucco, painting, fire sprinklers, plumbing, mechanical, electrical, and car charging stations.

The center features popular retail and restaurant tenants, including Honey Salt, Williams Sonoma and Pottery Barn. The project is expected to be completed this Fall. DLR Group is serving as the architect.

 

Boys & Girls Club And Lutheran Social Services Break Ground On Joint Campus

Boys & Girls Clubs of Southern Nevada (BGCSNV) and Lutheran Social Services of Nevada (LSSN) are breaking ground on buildings that, when completed in the first quarter of 2018, will be the first campus-style service partnership of its kind in Nevada. Nevada HAND, a local nonprofit real estate development and management organization and its affiliate company, HAND Construction Company, is building the BGCSNV and LSSN buildings that will be on the site of their newest multi-family affordable housing community on Boulder Highway. This collaborative campus is adjacent to Mater Academy, a Title 1 charter elementary school.

The 10,000-square-foot Boulder Pines BGCSNV Club will be the nonprofit’s 15th location that provides youth, ages 5-18, with fun and engaging activities and programs supervised by trained staff in a safe, positive place when school is not in session. It’s expected to serve 200 youth daily.

The 7,332-square-foot LSSN building will serve as the nonprofit’s new headquarters, providing critical services to the community, including a grocery-style and digital food pantry, and in collaboration with agencies covering mental health, nutrition, employment, housing, and other critical services.

Funding for the BGCSNV and LSSN buildings was made possible largely by a $5.794 million grant through the Department of Housing and Neighborhood Development’s (HUD) Community Development Block Grant program (CDBG). Administered locally by Clark County, this federal grant is the largest single award to a nonprofit partnership through CDBG in Southern Nevada in its 40-year history.

Natalie Wainwright Takes Over Helm At CREW Las Vegas

NatalieNatalie Wainwright, Associate – Tenant Representative, Cushman & Wakefield Commerce in Las Vegas, has been elected president of Commercial Real Estate Women of Las Vegas (CREW LV), a vibrant and growing state chapter of the largest commercial real estate network dedicated to Influencing the success of the commercial real estate industry by advancing the achievements of women. She served the last 12 months as president-elect and begins her year as president on July 1, 2017.
““My journey with CREW Las Vegas has been nothing short of incredible and I am honored to help others in the industry receive a similar experience,” Wainwright said. “The growth and value I have gained from this global organization is one every single person deserves to at least feel and have access to. Through CREW, I was fortunate to have received not only the in-depth training that CREW offers, but it also helped me to build my network, hone my skills and expand my ability to achieve success”

“I now look forward to helping other women find their voice, navigate their paths in a complex industry and hopefully one day pay it forward themselves. CREW Network focuses on bringing people together and lifting everyone up. My mission as president will be to bring every member value, not only financially but also through leadership opportunities and by providing informative and thought-provoking events.  The people that make up the CREW Las Vegas chapter are those who break through that glass ceiling, turn around and extend a ladder for the rest of us to learn from! We invite all women and men involved in commercial real estate in Southern Nevada to become members of CREW and join us in this adventure.”
In her role as president, Wainwright will preside over CREW LV’s monthly programs and meetings of the Board of Directors, represent CREW LV at national CREW Network meetings and events, and help grow the membership and build the value of the network for members in Southern Nevada. She will direct the mission of CREW LV, which is “Working to advance our members in all aspects of commercial real estate through education, leadership, partnership and networking.”

Wainwright’s Cushman & Wakefield Commerce colleague, Alison Beddard is also the 2017 CREW Network President. She said, “I look forward to Natalie’s leadership as CREW Las Vegas President. Natalie embodies all of the attributes of a true leader, developing the people around her to succeed together in the CRE industry. Not only has Natalie positioned herself as an emerging leader in the CRE, but her focus on developing her fellow CREW members through business opportunity is remarkable.”

In her role with Cushman & Wakefield Commerce, Wainwright has five years of commercial real estate experience and is part of the Vegas CRE team, a leading tenant representative team focusing on working with businesses of all sizes create and implement a real estate strategy that supports the business.

CREW LV is a non-profit organization. This group consists of over 90 CREW chapters within the United States and Canada, with over 10,000 members. Now in its 18th year, CREW Las Vegas is committed to encouraging and expanding opportunities in networking, education, leadership development and civic philanthropy for women and men, in all facets of real estate.

 

Colliers Transactions of Note

  • 1740 W Horizon Ridge PkwyA sale to Atlas Properties LLC. The approximately 2.7 acre vacant land parcel is located in Horizon Ridge at 1740 W. Horizon Ridge Pkwy. in Henderson. The transaction amount was $1,050,000. Robert Torres and Scott Gragson of Colliers International represented the seller, MacDonald Properties Ltd.

 

 

 

 

  • 6365 Montessouri StreetA lease to Rocket Gaming Systems LLC. The approximately 46,020 square foot industrial renewal property is located at 6365 Montessouri St. in Las Vegas. Dan Doherty, SIOR, Chris Lane and Jerry Doty of Colliers International represented the lessor, KTR LV IV LLC.

 

 

 

 

  • 6485 West Sunset Road, Suite 100 (Building 3)A lease to STYLGAME USA LLC. The approximately 22,500 square foot industrial property is located in Sunset 215 West at 6485 W. Sunset Rd., Suite 100 (Building 3) in Las Vegas. Greg Pancirov, SIOR and Mike DeLew, SIOR of Colliers International represented thelessor, Prestige Family Group LLC. Dean Willmore, SIOR and Alex Stanisic of Colliers International represented the lessee.

 

 

 

  • 4545 Cameron Street, Suite CA lease to Financial Consulting & Trading Intl Inc. The approximately 21,504 square foot industrial property is located in Cameron Business Center at 4545 Cameron St., Suite C in Las Vegas. Spencer Pinterof Colliers International represented the lessee.

 

 

 

 

  • 3024 Fremont StreetA lease to Varsanyi Feddy Property Holdings LLC. The approximately 19,000 square foot retail property is located at 3024 Fremont St., Suite B in Las Vegas. Chris Connell and Grant Traub of Colliers International represented the lessor, Pete & Mary Jo Limited Partnership.

 

 

 

 

  • 3655 East Patrick Lane, Suite 1200A lease to Audio Visual Advisors Inc. The approximately 8,099 square foot industrial property is located in Arrowhead Commerce Center (Bldg. 8) at 3655 E. Patrick Ln., Suite 1200 in Las Vegas. Spencer Pinter, Dan Doherty, SIOR, Chris Lane and Jerry Doty of Colliers International represented the lessor, KTR LV I LLC.

 

 

 

 

  • 6295 South Pearl Street, Suite 700A lease to McKesson Medical-Surgical Inc. The approximately 5,000 square foot industrial property is located in Arrowhead Commerce Center (Bldg. 7) at 6295 S. Pearl St., Suite 700 in Las Vegas. Spencer Pinter, Dan Doherty, SIOR, Chris Lane and Jerry Doty of Colliers International represented the lessor, KTR LV IV LLC.

 

 

 

 

  • 6295 South Pearl Street, Suite 1200A lease to BRC Inc. The approximately 4,800 square foot industrial property is located in Arrowhead Commerce Center (Bldg. 7) at 6295 S. Pearl St., Suite 1200 in Las Vegas. Spencer Pinter, Dan Doherty, SIOR, Chris Lane and Jerry Doty of Colliers International represented the lessor, KTR LV I LLC.

 

 

 

 

  • 6225 South Valley View Boulevard, Suite JA lease to Design Construction Companies LLC. The approximately 4,800 square foot industrial property is located in Valley View Corporate Center (Phase II) at 6225 S. Valley View Blvd., Suite J in Las Vegas. Spencer Pinter of Colliers International represented the lessor, Valley View I, II & III LLC.

 

 

 

 

  • 6185 South Valley View Boulevard, Suite JA lease to Great Wester Sales Inc. The approximately 4,140 square foot industrial property is located in Valley View Corporate Center (Phase IV) at 6185 S. Valley View Blvd., Suite J in Las Vegas. Spencer Pinter of Colliers International represented the lessor, Valley View IV LLC.

 

 

 

 

  • 2537 East Washburn RoadA lease to Ninehorn LLC. The approximately 4,075 square foot industrial property is located at 2537 E. Washburn Rd. in North Las Vegas. Dean Willmore, SIOR and Alex Stanisic of Colliers International represented the lessee.

 

 

 

 

  • 4385 North Pecos AvenueA lease to My Left Foot Children’s Therapy LLC. The approximately 2,632 square foot retail property is located in Corporate Center Business Park at 4385 N. Pecos Ave. in North Las Vegas. Phillip Dunning, CCIM of Colliers International represented the lessor, The Realty Associates Fund XI LP.

 

 

 

 

  • 6038 Topaz Street, Suite 8A lease to TN Partners LLC. The approximately 2,580 square foot industrial property is located in Patrick Airport Center at 6038 Topaz St., Suite 8 in Las Vegas. Mike DeLew, SIOR, Greg Pancirov, SIOR, Dean Willmore, SIOR, Alex Stanisic and Chelsy Cardin of Colliers International represented the lessor, Stockbridge Patrick and Mojave LLC.

 

 

 

 

  • 2700 East Patrick Lane, Suite 12A lease to Kenneth Lessard and Perry Tucker. The approximately 1,938 square foot industrial property is located in Patrick Airport Center at 2700 E. Patrick Ln., Suite 12 in Las Vegas. Mike DeLew, SIOR, Greg Pancirov, SIOR, Dean Willmore, SIOR, Alex Stanisic and Chelsy Cardin of Colliers International represented the lessor, Stockbridge Patrick and Mojave LLC.

 

 

 

 

  • 7881 West Charleston Boulevard, Suite 175A lease to ZDOGGMD LLC. The approximately 1,692 square foot office property is located in Acuity Financial Center at 7881 W. Charleston Blvd., Suite 175 in Las Vegas. Stacy Scheer, CCIM, LEED GA of Colliers International represented the lessee.

 

 

 

 

  • 1000 North Green Valley ParkwayA lease to Wags N Whiskers. The approximately 1,369 square foot retail property is located in Pebble Marketplace at 1000 N. Green Valley Pkwy. in Henderson. Scot Marker of Colliers International represented the lessor, CH Realty/VII.

 

 

 

 

  • 10001 South Eastern Avenue, Suite 208A lease to Comprehensive Digestive Institute of NV. The approximately 1,361 square foot medical office property is located in Del E. Medical Plaza at 10001 S. Eastern Ave., Suite 208 in Henderson. Stacy Scheer, CCIM, LEED GA of Colliers International represented the lessee.

 

 

 

 

  • 7955 Blue Diamond Road.jpgA lease to BD Edge LLC. The approximately 1,300 square foot retail property is located in Mountains Edge Marketplace at 7955 Blue Diamond Rd., Shops 8A Suite 101 in Las Vegas. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the lessee.

 

 

 

 

  • 320 East Warm Springs Road, Suite 1AA lease to Air Line Pilots Association International. The approximately 1,264 square foot office property is located in Bermuda Springs Office Park at 320 E. Warm Springs Rd., Suite 1A in Las Vegas. Chris Connell and Grant Traub of Colliers International represented the lessor, Warm Springs Limited Partnership.

 

 

 

 

  • 4345 Corporate Center DriveA lease to Bella Casa Furnishings LLC. The approximately 1,209 square foot industrial property is located in Corporate Center Business Park at 4345 Corporate Center Dr., Suite 205 in North Las Vegas. Dan Doherty, SIOR, Chris Lane and Jerry Doty of Colliers International represented the lessor, The Realty Associates Fund XI LP.

 

 

 

 

  • 8880 South Maryland Parkway, Suite 120A lease to Kathy Kline LLC. The approximately 1,197 square foot retail property is located in Scottsdale Plaza at 8880 S. Maryland Pkwy., Suite 120 in Las Vegas. Chris Connell and Grant Traub of Colliers International represented the lessor, SREF Scottsdale Plaza LLLP.

Colliers Las Vegas Deals Of The Week

3035 East Lone Mountain Road, Suite 1000A lease to Murray Feiss Import LLC & Generation. The approximately 207,070 square foot industrial property is located in Golden Triangle Industrial Park at 3035 E. Lone Mountain Rd., Suite 1000 in North Las Vegas. Greg Pancirov, SIOR and Mike DeLew, SIOR of Colliers International represented the lessee.

 

 

 

 

 

3853 East Craig Road, Suite 3-4A lease to Deals on Wheels LLC. The approximately 4,998 square foot industrial property is located in Craig Business Center at 3853 E. Craig Rd., Suite 3-4 in North Las Vegas. Greg Pancirov, SIOR and Mike DeLew, SIOR of Colliers International represented thelessor, T Properties LLC.

 

 

 

 

 

 

3853 East Craig Road, Suite 10A lease to Soft Liquidities. The approximately 2,575 square foot industrial property is located in Craig Business Center at 3853 E. Craig Rd., Suite 10 in North Las Vegas. Greg Pancirov, SIOR and Mike DeLew, SIORof Colliers International represented the lessor, T Properties LLC.

 

 

 

 

 

 

???????????????????????????????A lease to Farrington Productions Inc. The approximately 2,131 square foot industrial property is located in Decatur Bell Commerce Center at 5030 S. Decatur Blvd., Suite E in Las Vegas. Greg Pancirov, SIOR, Mike DeLew, SIOR and Dean Willmore, SIOR of Colliers International represented the lessor, FJM Vegas Holdings LLC.

 

 

 

 

 

 

7460 West Lake Mead Boulevard, Suite E1A lease to Club Pilates. The approximately 2,100 square foot retail property is located in Summerlin Gateway at 7460 W. Lake Mead Blvd., Suite E1 in Las Vegas. Al Twainy, CCIM and Amelia Hyden of Colliers International represented the lessor, Gateway 31 Plaza LLC.


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