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Category – March 2017

Sun Commercial Recent Transactions

9640 W. Tropicana AveThe Lease with Juan’s Flaming Fajitas was renewed on March 15, 2017. The 4,800 square-foot retail space is located at 9640 W. Tropicana Avenue, Ste#100, Las Vegas, NV. The total value of the transaction was $561,600.00. Rob Moore and Matt Patros of Sun Commercial Real Estate, Inc. represented the Landlord, Teepee Development, LLC.

 

 

 

6280 McLeod DriveThe Sale of an Office Building was completed on March 7, 2017. The 2,450 square-foot building is located at 6280 McLeod Drive, Suite 100, Las Vegas, NV. The total value of the transaction was $285,000.00.Tim Behrendt, Lisa Hauger, and Tim Erickson of Sun Commercial Real Estate, Inc. represented the Buyer, Capstone Assets LLC and CBRE represented the Seller, The John T. Wasserburger Family Trust.

 

 

 

10040 W. Cheyenne AveThe Lease with Lyght.com LLC was completed on March 1, 2017. The 1,322 square-foot retail space is located at 10040 W. Cheyenne Avenue, Ste #160, Las Vegas, NV. The total value of the transaction was $122,722.06. Rob Moore, Matt Patros and Josh Smith of Sun Commercial Real Estate, Inc. represented the Landlord, Sunstone Lone Mountain LLC and the Tenant was not represented.

REALTORS® Increasingly Confident in Health of Local Housing Market

glvarMore than nine out of 10 local REALTORS® expect local home prices to keep going up in the next year.

That’s one of the highlights from the latest Quarterly Sentiment Indexreleased this week by UNLV’s Lied Institute for Real Estate Studies in partnership with the Greater Las Vegas Association of REALTORS®(GLVAR).

Each quarter, Lied Institute researchers survey a select group of GLVAR members about their expectations for home prices, sales and construction over the next quarter and next year.

“Like past versions of these quarterly surveys, this is another indication that our local REALTORS® are getting more optimistic and see our housing market continuing to get better,” said GLVAR President David J. Tina, a longtime local REALTOR®. “That makes sense, especially since we’re heading into the time of year when home prices and sales usually increase the most.”

Tina said his experience supports these sentiments, as he’s seeing increased activity in his own real estate business.

When asked where they thought local home prices were going in the next year, more than 90 percent of those who responded said they expected prices to go up. Less than 10 percent expected prices to stay about the same. None of the local REALTORS® who responded to the survey expected prices to go down over the course of the next year.

When asked where they thought local home prices were going over the next 90 days, nearly 84 percent expected prices to rise, while nearly 13 percent thought they’d stay about the same. Only one person (about 3 percent of those surveyed) expected prices to go down during the coming quarter.

REALTORS® were less bullish on short-term sales volume, with nearly 55 percent expecting sales to go up over the next 90 days and about 45 percent expecting sales to stay about the same. They were more optimistic when projecting sales over the next year, with nearly 81 percent saying sales should go up, while just over 19 percent think they’ll stay about the same. None of the respondents predicted that sales will decline over the next 90 days or during the next year.

Peter Counts, a data analyst at the Lied Institute who oversaw the survey, said these latest results show that the 31 GLVAR members who responded to the survey were even more optimistic than they were during previous quarters. In fact, Counts said this represents the fifth consecutive quarterly increase in the short-run, 90-day forecast. He added that this current survey shows the highest level of overall confidence in the local housing market since the survey started in early 2016.

When asked for their overall assessment of the real estate market in the Las Vegas area over the next year, nearly 81 percent of local REALTORS®surveyed said it’s getting better, with just more than 19 percent saying it’s likely to stay about the same. REALTORS® were only slightly less optimistic about the coming quarter, with just over 74 percent predicting it will get better and nearly 26 percent expecting it to stay about the same. None predicted that the local housing market will get worse.

As for local home building, more than 77 percent of those surveyed expected new home building activity in the Las Vegas area to go up over the next 90 days, with nearly 23 percent expecting it to stay about the same. Over the next year, nearly 81 percent expect increased home building, while more than 19 percent expect more of the same.

As for challenges facing the local housing market, some REALTORS® who answered the survey cited an increasingly tight local housing supply. Others expressed concerns about home building not keeping up with demand and about rising mortgage interest rates, which could make it more difficult for first-time and entry-level buyers to find and afford a home.

These survey results are largely consistent with GLVAR’s most recent report on the local housing market. GLVAR reported that the median price of existing single-family homes sold in Southern Nevada during February was $240,000. That was up 0.8 percent from January and up 8.9 percent from February 2016. Meanwhile, the median price of local condos and townhomes sold in February was $118,000, up 4.0 percent from January, but down 2.9 percent from February 2016.

Tina noted that the median home price in Southern Nevada one year ago at this time was $220,350. Two years ago, it was $205,000. Five years ago, in February of 2012, it was $121,000.

Despite dealing with less than a three-month supply of available homes when a six-month supply is considered ideal, GLVAR said more existing local homes were sold in 2016 than during 2015.

 

Palmeri – Wainwright Secure $13.3 Million In Lease Values In Q1 2017 Alone

cushman1A new 65-month lease to Progressive Casualty Insurance Company, was signed.  The +/- 7,753 square-foot space is located at 150 N Stephanie St, Ste 150, Henderson, NV 89074.  Dan Palmeri, SIOR, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Patti Dillon, Ryan Martin & Taber Thill , Ryan Martin & Taber Thill of Colliers International represented the Landlord.

A new 31-month lease renewal to JSA Healthcare Nevada, Inc, was signed.  The +/- 4,383 square-foot space is located at 5320 W Rainbow Blvd, Ste 150, Las Vegas, NV 89118.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Deborah Spencer of Ensemble Real Estate Solutions represented the Landlord.

A new 36-month lease to Guaranteed Rate, Inc, was signed.  The +/- 6,767 square-foot space is located at 9121 W Russell Rd, Ste 210, Las Vegas, NV 89148.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Soozi Jones Walker of Commercial Executives Real Estate represented the Landlord.

A new 39-month lease renewal to Randstad Professionals US, LLC, was signed.  The +/- 4,887 square-foot space is located at 6720 Via Austi Pkwy, Ste 370, Las Vegas, NV 89119.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Patti Dillion of Colliers International represented the Landlord.

A new 65-month lease to Heck Wealth Management, was signed.  The +/- 1,720 square-foot space is located at 1180 Town Center Dr, Ste 150, Las Vegas, NV 89144.  Bob Hawkins, Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Amy Lance of CBRE represented the Landlord

A new 43-month sublease to WonderBotz LLP, was signed.  The +/- 4,778 square-foot space is located at 5820 S Eastern Ave, Ste 250, Las Vegas, NV 89119.  Bob Hawkins, Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Sublessor.  Kim Henry of KW Commercial represented the Sublessee.

A new 39-month lease to Iovation, LLC, was signed.  The +/- 3,080 square-foot space is located at 3770 Howard Hughes Pkwy, Ste 250, Las Vegas, NV 89169.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Patti Dillion of Colliers International represented the Landlord.

A new 49-month lease to Aetna Health Management, LLC, was signed.  The +/- 13,378 square-foot space is located at 475 Capovilla Ave, #100, Las Vegas, NV 89119.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Nicola Fryatt of Thomas & Mack Development Group represented the Landlord.

A new 72-month lease renewal to DaVita Medical Management Services Nevada, LLC, was signed.  The +/- 6,077 square-foot space is located at 1505 Wigwam Pkwy, Ste 230, Las Vegas, NV 89012.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Barton Hyde of Avison Young represented the Landlord.

A new 58-month expansion lease to Zenith American Solutions, Inc, was signed.  The +/- 3,324 square-foot space is located at 9121 W Russell Rd, Ste 208, Las Vegas, NV 89148.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Bobbi Miracle & Soozi Jones Walker of Commercial Executives Real Estate represented the Landlord.

A new 130-month lease to Akerman LLP, was signed.  The +/- 15,055 square-foot space is located at 1635 Village Center Circle, Ste 200, Las Vegas, NV 89134.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Darren Lemmon of CBRE represented the Landlord.

A new 12-month lease renewal to DaVita Medical Management Services Nevada LLC, was signed.  The +/- 3,996 square-foot space is located at 5575 S Durango Dr, Ste 103-104, Las Vegas, NV 89113.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Bobbi Miracle & Soozi Jones Walker of Commercial Executives Real Estate represented the Landlord.

A new 12-month lease renewal to DaVita Medical Nevada LLC, was signed.  The +/- 2,800 square-foot space is located at 129 W Lake Mead Dr, Ste A-10, Henderson, NV 89015.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Jerry Hagfeldt of MDL Group represented the Landlord.

A new 65-month lease to Tessellate LLC, was signed.  The +/- 11,482 square-foot space is located at 770 Pilot Rd, Ste F, Las Vegas, NV 89119.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Garrett Toft of CBRE represented the Landlord.

Colliers Transactions of Note


  • DCIM100MEDIA

    A lease Glenn Birk dba Motors and More Inc. The approximately 15,937 square foot industrial property is located in Highland Industrial Center at 2950 S. Highland Dr., Suite A/B in Las Vegas. Chris Connell and Grant Traub of Colliers International represented the lessor, FKC Highland LLC.

 

 

  • 6175 S. Sandhill Road, Suite 500A lease to Agility Recovery Solutions LLC. The approximately 9,940 square foot industrial property is located in Arrowhead Commerce Center (Bldg.12) at 6175 S. Sandhill Rd., Suite 500 in Las Vegas. Spencer Pinter, Dan Doherty, SIOR, Chris Lane and Jerry Doty of Colliers International represented the lessor, KTR LV IV LLC.

 

 

 

  • 1445 W. Sunset Rd. Ste 101A lease to BBQ Galore. The approximately 7,500 square foot retail property is located in Crossroads at Sunset Shopping Center at 1445 W. Sunset Rd., Suite 105 in Henderson. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the lessor, SS Capital LLC.

 

 

 

 

  • 6295 S. Pearl Street, Suite 300A lease to Source Refrigeration & HVAC Inc. The approximately 4,800 square foot industrial property is located in Arrowhead Commerce Center (Bldg.7) at 6295 S. Pearl St., Suite 300 in Las Vegas. Spencer Pinter, Dan Doherty, SIOR, Chris Lane and Jerry Doty of Colliers International represented the lessor, KTR LV IV LLC.

 

 

 

  • 10180 W. Tropicana Ave. Ste 134A lease to My Peak Wireless LLC. The approximately 1,200 square foot retail property is located in Siena Town Center at 10180 W. Tropicana Ave., Suite 134 in Las Vegas. Al Twainy, CCIM and Amelia Hyden of Colliers International represented the lessor, Siena Town Plaza LP.

 

 

 

 

  • A lease to Pure Distribution LLC. The approximately 1,101 square foot industrial property is located in Cameron Hacienda at 5330 Camer5330 Cameron Ston St. in Las Vegas. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the lessor, VTT-Cameron Properties LLC.

 

 

 

 

  • 1001 Dumont BlvdA sale to Amusement Industry Inc. The 105-unit Cabana on Dumont Apartments multifamily property is located at 1001 Dumont Blvd. in Las Vegas. The transaction value was $7,987,500. Thomas Olivetti of Colliers International represented the seller, HV & Canal LLC.

 

 

 

  • 7570-7580 Normall Rockwell LnA sale to Centennial Holdings LLC and RH Centennial LLC. The approximately 45,288 square foot retail property is located in The Village of Centennial Springs at 7570-7585 Norman Rockwell Ln. in Las Vegas. The transaction value was $6,700,000. Phillip Dunning, CCIM and Tom Naseef, CCIM, SIOR of Colliers International represented the seller CML-NV CSPRINGS LLC. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the buyer.

 

 

  • 2000 Burns RdA sale to SSGW LLC. The approximately 3.90 acre land parcel is located on the Northeast corner of E. Sunset Rd. and Burns Rd. at 2000 Burns Rd. in Henderson. The transaction value was $875,000. Steven Haynes and Sam Newman of Colliers International represented the lessor, Munson Pumper Services.

 

 

 

  • 7432 W Sahara AveA sale to Boyack Structures LLC. The approximately 4,260 square foot office property is located at 7432 W. Sahara Ave. in Las Vegas. The transaction value was $735,000. Chris Connell and Grant Traub of Colliers International represented the lessor, Glencoe Properties Inc.

 

 

 

  • 3414 E Sahara AveA sale to Orchard Creek Properties LLC. The approximately 2,160 square foot retail property is located in Loan Max at 3414 E. Sahara Ave. in Las Vegas. The transaction value was $625,000. Dan Gluhaich of Colliers International represented the buyer.

 

 

 

  • 0.97 Acres on Dale and ChapparalA sale to Shearing Family Trust. The approximately 0.97 acre land parcel is located on E. Dale Ave. and Chaparral Rd. (APN: 191-10-301-004) in Henderson. The transaction value was $265,000. Vince Schettler of Colliers International represented the lessor, VFR-JV Properties LLC.

 

 

 

  • 3650 E Post Rd Ste F &GA lease Marquez Brothers Nevada, Inc. The approximately 22,322 square foot industrial property is located in Arrowhead Commerce Center (Bldg. 10) at 3650 E. Post Rd., Suite F & G in Las Vegas. Spencer Pinter, Dan Doherty, SIOR, Chris Lane and Jerry Doty of Colliers International represented the lessor, KTR LV IV LLC. Brian Riffel of Colliers International represented the lessee.

 

 

 

  • 3853 E. Craig Rd, Ste 2A lease to Pedro Mario Ocaranza Parra. The approximately 2,499 square foot industrial property is located in Craig Business Center at 3853 E. Craig Rd., Suite 2 in North Las Vegas. Mike DeLew, SIOR and Greg Pancirov, SIOR of Colliers International represented the lessor, T Properties LLC.

 

 

 

  • A lease to Laboratory Medicine Consultants Ltd. The approximately 2,347 square foot office property is located in The Parkway at 7455 W. Washington Ave. in Las Vegas. Andrew Kilduff and Stacy Scheer, CCIM, LEED GA of Colliers International represented the lessee.
  • A lease to Michael J. Gunter Ltd. The approximately 2,066 square foot office property is located in The Parkway at 7455 W. Washington Ave. in Las Vegas. Andrew Kilduff of Colliers International represented the lessee, Parkway Properties LLC.
  • 2850 Bicentennial PkwyA lease to Mele Learning LLC. The approximately 1,300 square foot retail property is located in Anthem Highlands at 2850 Bicentennial Pkwy in Henderson. David Grant of Colliers International represented the lessee.

 

 

 

  • 665 S. Green Valley Pkwy Ste 100A lease to Frozen Vegas LLC. The approximately 1,210 square foot retail property is located in Green Valley Crossing at 665 S. Green Valley Pkwy, #100 in Henderson. David Grant of Colliers International represented the lessee.

 

 

 

  • 4950 South Rainbow BoulevardA lease to Vegas Shack 1 LLC. The approximately 1,200 square foot retail property is located in Centre at Spanish Trail at 4950 S. Rainbow Blvd., Suite 140 in Las Vegas. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the lessee.

 

 

 

  • 8766 S. Maryland Pkwy. Ste 107A lease to KC West LCSW Clinical Counseling. The approximately 840 square foot office property is located in Scottsdale Plaza at 8766 S. Maryland Pkwy., Suite 107 in Las Vegas. Chris Connell and Grant Traub of Colliers International represented the lessor, SREF Scottsdale Plaza LLLP.

 

 

 

 

  • 8766 S. Maryland Pkwy. Ste 105A lease to Mobi Munch Inc. The approximately 662 square foot office property is located in Scottsdale Plaza at 8766 S. Maryland Pkwy, Suite 105 in Las Vegas. Chris Connell and Grant Traub of Colliers International represented the lessor, SREF Scottsdale Plaza LLLP.

 

Cushman & Wakefield Commerce Keeps The Activity Rolling Along

3855 e patrickFabrication Syndicate, LLC leased 1,300 SF of retail space at 3855 E Patrick Ln, Ste 105, Las Vegas, 89120. Lauren Tabeek, CCIM and Katelyn Panella of Cushman & Wakefield Commerce represented the lessor, Leonardi Properties, LLC.

 

 

2567 cheyenneBrass 2 Copper Mechanical, Inc leased17,330 SF of industrial space for 36 months at Cheyenne West Corporate Center, 2567 W Cheyenne Ave, North Las Vegas 89032. Danielle Steffen, SIOR and Amy Ogden, SIOR of Cushman & Wakefield Commerce represented the lessee.

 

 

4601 e cheyenneLatium USA Trading, LLC renewed 42,240 SF of industrial space for 37 months at Sunrise Industrial Park, 4601 E Cheyenne Ave, Ste 115, Las Vegas 89115. Danielle Steffen, SIOR and Amy Ogden, SIOR of Cushman & Wakefield Commerce represented the lessee.

 

 

7935Ice Cube Air, Inc, a Nevada corporation renewed 1,561 SF of office space at Canyon Plaza, 7935 W Sahara Ave, Ste 106, Las Vegas, 89117. Bob Hawkins of Cushman & Wakefield Commerce represented the lessor, Winner Properties, LLC, a Colorado Limited Liability Company.

 

807 s decaturRestoration and Recovery LLC, a Nevada limited liability company purchased 3,851 SF of office space for $303,500 at 807 & 811 S Decatur Blvd, Unit 110, Las Vegas, 89107. Pete Janemark, CCIM, Jayne Cayton, and Matt Kreft of Cushman & Wakefield Commerce represented the seller, The 1995 Alfred H Hyman and Lillie Hyman Family Trust, dated November 8, 1995.

 

 

7425 s durangoRDJD, Inc dba Cricket Wireless leased 1,163 SF of retail space at Rhode Ranch Town Center, 7425 S Durango Rd, Ste 102, Las Vegas, 89113. Lauren Tabeek, CCIM and Katelyn Panella of Cushman & Wakefield Commerce represented the lessee.

 

 

2600 w saharaCafé Rio leased 1,850 SF of retail space at Paseo Plaza, 2600-2650 W Sahara Ave, Ste 121-122, Las Vegas, 89102. Dan Hubbard of Cushman & Wakefield Commerce represented the lessor, Bershon LV Two, LLC, a Nevada LLC.

GLVAR To Honor Young Guns At The Hard Rock: Party On Garth – April 27th

GLVAR Billy 1GLVARLee, Joseph Y.GLVARLopez, OmarglvarMarquardt, HollyGLVRPurpura, GeorgiaglvSherry, Krystal A.glYoungblood, Julie

 

 

 

 

 

The Greater Las Vegas Association of REALTORS® (GLVAR) and its Young Professionals Network of Las Vegas (YPN) have announced the winners of their annual “40 Under 40” awards. The awards program was created to acknowledge the top 40 local REALTORS® under the age of 40 who demonstrate excellence in their careers and service to their community, the real estate industry and their state, local and national associations. Honorees were chosen by a selection committee of GLVAR members, who also considered their professional designations, contributions to charities and to GLVAR’s Political Survival Fund, as well as their annual real estate sales transactions and number of properties they manage. They will be honored at an April 27 event at the Hard Rock Hotel & Casino in Las Vegas. They will also be recognized in various ways by GLVAR, including being featured in GLVAR’s monthly Southern Nevada REALTOR® publication. For information or tickets to the awards event, email vleanos@glvar.org. GLVAR and its YPN group also inducted eight members into its “40 Under 40” Hall of Fame for members who have been named to the top 40 for three years.

This year’s Hall of Fame inductees include:• William J. Alt, NextHome Integrity • Joseph Y. Lee, eProNet Realty • Omar A. Lopez, BHHS Nevada Properties • Holly Marquardt, All Vegas Valley Realty • Charmaine Prospero, Northcap Residential • Georgia Purpura, Keller Williams Realty Southwest • Krystal A. Sherry, Hudson Real Estate • Julie C. Youngblood, Keller Williams Realty Southwest

YPN’s “40 Under 40” honorees for 2017 include: • Nora E. Aguirre, Source Realty • Jordan D. Betten, Coldwell Banker Premier • Amanda Bolton, Platinum Real Estate Professionals • Christina Cova-Simmons, BHHS Nevada Properties • Shawn Cunningham, RE/MAX Advantage • Amber M. DeLillo, Signature Real Estate Group • Bobby R. Deveraux, Shorewood Real Estate • Andrew Dionne, Barrett and Co., Inc. • Jeff T. Ehlert, Blue Diamond Realty LLC • Wasim Faranesh, Black & Cherry Real Estate • Jim C. Fong, Keller Williams Realty Southwest • Stephanie Fontaine, Urban Nest Realty • Robert Gluskin, Signature Real Estate Group • Sevak Grigor, Platinum Real Estate Professionals • Randy K. Hatada, Xpand Realty & Property Management • Sara H. Jessa, Urban Nest Realty • Ronald J. Johnson, Keller Williams Realty Southwest • Lola Karacsonyi, Monopoly Realty & Management, Inc. • Troy J. Kearns, Platinum Real Estate Professionals • Ryan King, King Realty Group • Eric A. Kruger, Windermere Prestige Properties • Alexandra Malenkina, Nevada Realty Experts • Jason Mattson, Orange Realty Group LLC • James J. McGuire, Signature Real Estate Group • Paulina McKinney, Urban Nest Realty • Michael McNamara, Coldwell Banker Premier • Cassandra A. Mor, the Mor Group • Mark D. Perry, Local Realty • Nicholas J. Puglia, Coldwell Banker Premier • Yared Rivera, Realty One Group, Inc. • Stephen E. Roberts Jr., SER Realty LLC • Maureen Robison, BHHS Nevada Properties • Robert Andy Stahl, Raintree Real Estate • Duc T. Su, Pordes Residential Sales & Marketing LLC • Sasha Terry, Platinum Real Estate Professionals • Angela K. Tina, Urban Nest Realty • Rexalynn M. Walberg, Goliath Properties • Geoffrey S. Zahler, Zahler Properties LLC • Kamyar Zargari, Triumph Property Management Company • Melissa L. Zimbelman, Luxe International Realty

Patti Dillon Of Colliers Las Vegas Earns SIOR Designation

Patti Dillon_EP_01Patti Dillon, SIOR of Colliers International | Las Vegas has achieved the SIOR 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. Dillon becomes the tenth SIOR designee for Colliers International’s Las Vegas office.

“We congratulate Patti on earning the distinguished SIOR designation,” said Mike Mixer, executive managing director for Colliers International. “She is an incredible leader and a credit to the commercial real estate profession in the Las Vegas market. We are honored to have her on our team.”

Dillon is a senior vice president in the office division and a key contributor of the Martin|Thill|Dillon office team in Colliers’ Las Vegas office.  In 2016 alone, this team completed more than 75 transactions totaling nearly 1.8 million square feet and $300 million in transaction volume.

The Martin|Thill|Dillon team has been named NAIOP Southern Nevada’s Office Broker of the Year for the past two years and were awarded Colliers International | Las Vegas’ deal of the year award in 2016 for their work on the IGT campus sale (achieved the highest price per square foot and lowest cap rate for true professional office in 2016).

To achieve the SIOR designation, Dillon 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 requires designees to complete its ethics course within their first three years of membership.

Dermody Properties’ LogistiCenter Reaches Construction Milestone

DCIM100MEDIADJI_0011.JPGDermody Properties, a national industrial real estate owner-operator headquartered in Reno, Nevada, announced today that it reached a construction milestone with the tilt-up and placement of the first wall panels for its 546,480 SF industrial facility on Las Vegas Boulevard near North Walnut Road. The building will be completed on time by the end of the second quarter of this year.

“We’re very happy with the progress United Construction has made and we appreciate the support and cooperation from Clark County and our neighbors,” said George Condon, Partner, Dermody Properties West Region Office. “Las Vegas is located at the heart of the 11-state western region. That, coupled with its transportation network which offers two-day delivery time to a market containing more than 50 million people makes it an ideal choice for a variety of internet fulfillment centers or manufacturing operations.”

LogistiCenterSM at Las Vegas Boulevard wDCIM100MEDIADJI_0011.JPGill feature 36 feet of clear height and above-standard auto and trailer parking. The facility will be e-commerce-ready and is ideal for distribution, manufacturing and warehouse operations. LogistiCenterSM at Las Vegas Boulevard is suitable for up to four tenants. The site, which offers captivating views of the Las Vegas skyline, also offers an additional eight to nine acres of excess land for retail or office building development. The Doherty Industrial Group at Colliers International has been retained by Dermody Properties to market the location for lease.  Adam Malan, Director, and Deana Marcello, Senior Brokerage Associate, of Logic Commercial Real Estate are representing the site’s excess acres of land.

“Dermody Properties has a long history of designing quality, state-of-the-art facilities that exceed the needs and expectations of industrial users,” said Susan Borst, Senior Vice President, Doherty Industrial Group at Colliers International. “Many of the existing buildings in North Las Vegas that were designed by Dermody over the years continue to be occupied today by top brand companies such as Bed, Bath and Beyond, Amazon, and Monster Cable to name a few.”

The Las Vegas market is experiencing its largest quarterly expansion of industrial inventory since the first half of 2008. This is in direct response to an overall market vacancy of only 5.6 percent.  Several factors are contributing to the area’s broad-based recovery including the establishment of many businesses in the past year, the region’s record-breaking tourism levels, and billions of dollars in planned construction activity.

United Construction Company is the design-build contractor on the project.

Newmark Grubb Knight Frank Announces The Following Retail Transactions

Newmark2X H Enterprises, Inc. dba Kung Fu Tea leased 1,310 square feet of retail space at 467 E. Silverado Ranch Blvd., Ste. 140, from Empress Group, LLC. Total consideration was $111,434.40. Director Michael Zobrist and Executive Managing Director Nelson Tressler of Newmark Grubb Knight Frank represented the lessor in the transaction.

RDJD, Inc. dba Cricket Wireless leased 1,163 square feet of retail space at 7425 S. Durango Dr., Ste. 102, from DM Rhodes Ranch, LLC. Total consideration was $158,861.91. Director Michael Zobrist and Executive Managing Director Nelson Tressler of Newmark Grubb Knight Frank represented the lessor in the transaction.

Luna Vega Enterprises, Inc. dba Fausto’s leased 1,400 square feet of retail space at 229 N. Stephanie St., Ste. A, from Roxbury Advisors,LLC. Total consideration was $188,736.20. Director Michael Zobrist and Executive Managing Director Nelson Tressler of Newmark Grubb Knight Frank represented the lessor in the transaction.


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