Chris Lexis and Joe Leavitt of Avison Young represented the landlord, Core-Mark in the 23 month industrial lease of 100,000 square feet to Just for Show, Inc at 3950 W. Harmon Ave in Las Vegas. The total value of the transaction was $946,000.
Category – May 2017
Liz Clare, CCIM and Jacqueline Young of Avison Young represented both parties in the 64 month lease of 1,208 square feet at 3525 South Fort Apache Road, Suite 130 to Farmers Insurance. The landlord was Monteray Vista, LLC. This retail transaction was valued at $116,693.00.
Liz Clare, CCIM and Jacqueline Young of Avison Young represented the landlord, Monterey Vista Village Shopping Center in the 1,120 SF 27 month lease to Vap O Rise at 3525 Fort Apache, Suite 105. The total value of the retail transaction was $42,650.
Mike Mixer, Executive Managing Director of Colliers International – Las Vegas announced today the company’s 23rd Annual Links for Life Charity Golf Tournament raised more than $115,000 for various children’s charities in Southern Nevada.
This year’s event was held on May 17th at the Las Vegas Country Club. Benefactors from across Southern Nevada had an enjoyable day on the course while raising critical funds for some of the community’s most vulnerable children.
“We always look forward to this tournament,” Mixer said. “There are so many important charities in Las Vegas that are doing incredible work to benefit children in our community. We’re proud to support their efforts and missions with Links for Life.”
Sponsors for the 23rd Annual Links for Life Charity Golf Tournament included: Majestic Realty, Panattoni, Remington Nevada, Swenson, First American Title Company, Fidelity National Title Group, Integrated Landscape Management, Nevada Title Company, Gaudin Porsche of Las Vegas, Findlay Automotive Group, MCA Realty, The Industrial Team of De Lew & Pancirov, Meadows Bank, Vegas Inc, Burke Construction Group, Nevada General Construction, Ethos Three Architecture, Denali Builders, Prologis, the Liquor Outlet, Burnett Haase Construction, Centra, Saber Security, Brandise Construction Co., The OGDEN Foundation, SIGNCO Digital Color Imaging, Worthe Hanson & Worthe, and Tradewinds Construction.
The Links for Life Foundation is corporately sponsored by Colliers International. Since inception in 1995, Links for Life has contributed more than $2.7 million to local children’s charities including Candlelighters Childhood Cancer Foundation of Nevada, St. Baldrick’s Foundation, St. Jude’s Ranch for Children, Three Square Food Bank, and Create a Change Now.
While the Links for Life Foundation hosts other fundraising events throughout the year that include dinners and poker tournaments, the annual Links for Life Charity Golf Tournament remains the foundation’s largest source of funding.
For more information about Links for Life, please visit www.linksforslifefoundation.org/Nevada.
COMPLETED SALES TRANSACTIONS:
A sale to JD Stairs Inc. The approximately 37,130 square foot industrial property is located at 4181 W. Oquendo Rd. in Las Vegas. The transaction amount was $3,425,000. Dean Willmore, SIOR and Chelsy Cardin of Colliers International represented the seller. Brian Riffel and Tyler Jones of Colliers International represented the buyer.
A sale to Branmark Group LLC. The approximately 0.16 acre land parcel is located 222 W. Cleveland Ave. in Las Vegas. The transaction amount was $155,000. Vince Schettler of Colliers International represented the seller.
COMPLETED LEASE TRANSACTIONS:
A lease to Dimensions Design Inc. The approximately 21,600 square foot industrial property is located in Arrowhead Commerce Center, Building 9 at 6180 S. Pearl St., Suite E in Las Vegas. Spencer Pinter, Dan Doherty, SIOR, Chris Lane and Jerry Doty of Colliers International represented the lessor, KTR LV I LLC. Pat Marsh, SIOR and Sam Newman of Colliers International represented the lessee.
A lease to Game Changer Sports Inc. The approximately 20,000 square foot retail property is located in the Halloween Mart retail building at 6230 S. Decatur Blvd. in Las Vegas. Eric Molfetta, CCIM and Chris Zunis of Colliers International represented the lessor, Sobb LLC.
A lease to Boyett Enterprises LLC. The approximately 10,208 square foot industrial property is located in Arrowhead Commerce Center, Building 8 at 3655 E. Patrick Ln., Suite 400 & 500 in Las Vegas. Spencer Pinter, Dan Doherty, SIOR, Chris Lane and Jerry Doty of Colliers International represented the lessor, KTR LV I LLC.
A lease to Suncor Stainless Inc. The approximately 8,016 square foot industrial property is located in Civic Center Corporate Park at 3896-3900 Civic Center Dr. in North Las Vegas. Dan Doherty, SIOR, Chris Lane and Jerry Doty of Colliers International represented the lessor, MCA Civic Center II LLC.
A lease to ER Laser Productions Inc. The approximately 5,761 square foot industrial property is located in Arrowhead Commerce Center, Building 5 at 3595 E. Patrick Ln., Suite 300 in Las Vegas. Spencer Pinter, Dan Doherty, SIOR, Chris Lane and Jerry Doty of Colliers International represented the lessor, KTR LV I LLC. Greg Pancirov, SIOR and Mike DeLew, SIOR of Colliers International represented the lessee.
A lease to Sunrise Children’s Foundation. The approximately 4,500 square foot industrial property is located in Mojave Airport Center at 6255 S. Mojave Rd., Suite D in Las Vegas. Mike Delew, SIOR, Dean Willmore, SIOR and Chelsy Cardin of Colliers International represented the lessor, Stockbridge Patrick and Mojave LLC. Greg Pancirov, SIOR of Colliers International represented the lessee.
A lease to Block 9 Thai Street Eats. The approximately 2,012 square foot retail property is located in Retail Trails at 10595 Discovery Ln., Suite 5 in Las Vegas. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the lessee.
A lease to Art of Cooking LLC. The approximately 1,954 square foot retail property is located at 8480 W. Desert Inn Rd. in Las Vegas. Scot Marker of Colliers International represented the lessor, 8480 Desert Inn LLC.
A lease to United Enterprises Holdings LLC. The approximately 1,200 square foot retail property is located in Horizon Village Square at 55 E. Horizon Ridge Pkwy., Suite 130 in Henderson. David Grant, Al Twainy, CCIM and Amelia Hyden of Colliers International represented the lessor, Horizon Dorado LLC.
Rooftop Realty, LLC leased 3,732 SF of office space at Sansone Pecos Center, 9041 S Pecos Rd, Henderson 89074. Nick Barber and Jeremy Foley of Cushman & Wakefield Commerce represented the lessor, 9005-9089 South Pecos Road, LLC.
Studio Khroma, LLC leased 3,346 SF of retail space at Regal Plaza, 8876 S Eastern Ave, Ste 103 & 104, Las Vegas 89123 Lauren Tabeek, CCIM and Katelyn Panella of Cushman & Wakefield Commerce represented the lessee.
Joshua James Moore dba AMS Picture leased 1,953 SF of retail space at Centennial Plaza, 150 E Centennial Pkwy, Ste 114, North Las Vegas 89032. Lauren Tabeek, CCIM and Katelyn Panella of Cushman & Wakefield Commerce represented the lessor, Centennial 5 Development, LLC.
Air Line Pilots Association, International leased 1,264 SF of office space at Bermuda Springs Office Park, 320 E Warm Springs Blvd, Ste 1-A, Las Vegas 89119. Jayne Cayton and Matt Kreft of Cushman & Wakefield Commerce represented the lessee.
SmartCareOS, LLC leased 1,175 SF of office space at Cameron West Business Park, 4175 S Cameron St, Ste B, Las Vegas 89103. Jennifer Levine, CCIM and Elizabeth Moore of Cushman & Wakefield Commerce represented the lessor, Cameron Industrial Park, LLC.
Green Room, LLC renewed 4,500 SF of retail space at Centra Point Retail Center, 8349 W Sunset Rd, Ste 150 B, Las Vegas 89113. Dan Hubbard of Cushman & Wakefield Commerce represented the lessor, Reef Centra Point Retail, LLC, a Washington LLC.
Olivier Brouillet dba Baguette Café renewed 1,396 SF of retail space at Centra Point Retail Center, 8359 W Sunset Rd, Bldg A, Ste 100, Las Vegas 89113. Dan Hubbard of Cushman & Wakefield Commerce represented the lessor, Reef Centra Point Retail, LLC, a Washington LLC.
Best Mattress, Inc renewed 4,500 SF of retail space at Rainbow Promenade, 2303 N Rainbow Blvd, Las Vegas 89108 Dan Hubbard of Cushman & Wakefield Commerce represented the lessor, Reef Centra Point Retail, 2199 North Rainbow Boulevard Holdings, LLC.
Roger Fontes renewed 1,220 SF of industrial space at Gibson Palms Corporate Center, 118 Corporate Park Dr, Ste 107, Henderson 89074. Leo Biedermann of Cushman & Wakefield Commerce represented the lessor, Olymbec USA, LLC.
United Enterprise Holdings, LLC leased 1,200 SF of retail space at Horizon Village Square, 55 E Horizon Village Pkwy, Ste 130, Henderson 89002. Lauren Tabeek, CCIM and Katelyn Panella of Cushman & Wakefield Commerce represented the lessee.
Sutherland Global Services, Inc subleased 21,500 SF of office space at The Lakes Campus, 8725 W Sahara Ave, Las Vegas 89163. Bob Hawkins of Cushman & Wakefield Commerce represented the lessor, Citibank, NA.
Faciliteq Business Interiors, Inc, leased 5,328 SF of industrial space at Panattoni Creekside, 2571 E Washburn Rd, North Las Vegas 89081. Alma Cuevas of Cushman & Wakefield Commerce represented the lessee.
The Sale of APN 177-35-110-007 was completed on May 5, 2017. The 1.16 acre parcel is located on the SEC of Cactus Avenue and Maryland Parkway, Henderson, NV. The total value of the transaction was $695,000.00. Cathy Jones, Paul Miachika, Roy Fritz, and Jessica Cegavske of Sun Commercial Real Estate, Inc. represented the Seller, CECO Enterprises, LLC and JMS Properties, Inc. represented the Buyer, Josef Hammoudeh.
The Sale of an Industrial Building was completed on April 21, 2017. The 3,920 square-foot building is located at 3405 W. Lake Mead Boulevard, Suite 100, North Las Vegas, NV. The total value of the transaction was $517,000.00. Renae Russo of Sun Commercial Real Estate, Inc. represented the Seller, 5 Star Development 2, LLC and Griffis Realty represented the Buyer, Jesus Juarez and Reyna Isabel Villa Pacheco.
The Sale of an Industrial Building was completed on May 4, 2017. The 3,200 square-foot building is located at 3415 W. Lake Mead Boulevard, Suite 110, North Las Vegas, NV. The total value of the transaction was $425,000.00. Renae Russo of Sun Commercial Real Estate, Inc. represented the Seller, 5 Star Development 2, LLC and Griffis Realty represented the Buyer, Min Yu and Yang Ge.
New furnishings, paint, cabinets, kitchens, flooring and many other home improvements greeted Nevada Partnership for Homeless Youth clients when they returned home from school and work recently. The renovation and upgrades to eight NPHY Independent Living Program residences and two NPHY Emergency Shelters were made through the generosity of associates and business partners of Keller Williams Realty Las Vegas to the nonprofit’s aging properties.
The KWLV team ‒ 210 local Keller Williams Realty Las Vegas agents ‒ chose to volunteer their time helping homeless youth through NPHY for the real estate firm’s national RED Day service project for the fifth year in a row. Introduced in 2009, RED Day – Renew, Energize and Donate – is the second Thursday of May, and company associates around the world spend the day away from work assisting worthy community organizations and causes. KWLV closed its Village Square office (Fort Apache Rd. and Sahara Ave.) on May 11 for the project, the culmination of months of work and planning.
The Las Vegas RED Day project continued improvements KWLV did previously to the more than 40-year-old NPHY transitional housing units. The effort also kicked off major remodeling programs on two units which recently shifted to increase NPHY’s Emergency Shelter facilities due to the growing numbers of homeless youth within the community.
“We’ve loved partnering with such a worthwhile organization as Nevada Partnership for Homeless Youth with more than 14,000 homeless teens in our valley,” said Traci Human, chairperson of the KWLV Culture Committee. “Five years ago we started with cleaning and stocking NPHY’s storage facility. Our efforts have continued to grow, and we have been blessed with generous donations from our affiliates, vendors and clients. We love reaching out to them and asking if they would like to spend the day with us ‘to give back where we live,’ and if they would consider donating a complete house painting, kitchen or new flooring. We are always amazed with their generosity.”
Specific work at the housing sites and emergency shelters involved advanced landscaping, substantial roof repairs and kitchen remodels, shower and bathroom facilities repair, new furniture and bedding where needed, and new tile flooring, appliances, windows, faucets and fixtures. The KWLV team also made improvements to maximize space usage by providing lockable storage cabinetry at both emergency shelters.
In addition to KWLV associates, some of the participating partners included European Bath Kitchen Tile and Stone, Bridge Home Inspections, New Gen Painting, Mr. Tile, Cabinet Medics, Castle and Cooke Mortgage, Richmond American Homes, Cross Country Mortgage, Raysco, Best Mattress, Movement Mortgage, Atlas Marble & Granite, National Home Warranty, MC Plumbing, Accent Cabinetry & Flooring, Home Service Inc, Chicago Title, Access Services Group, Women’s Council of Realtors, ACH Heating & Cooling, and AREAA (Asian Real Estate Association of America). Human also acknowledged participants’ appreciation for Giuseppe’s Bar & Grill for feeding hundreds of RED Day volunteers.
“Each year we look forward to partnering with NPHY, and we love how this effort has developed and grown. Though only one day, we spend months planning so we can truly make a meaningful impact for the kids,” said Human of the five-year NPHY relationship.
Human and her committee toured the NPHY residences in early March, taking notes and measurements of what items needed replacement or repair, and then began fundraising. “The response from our associates and business partners was tremendous with more than $35,000 in cash and products donated and everyone’s invaluable time and expertise on RED Day,” she said.
“We continue to be overwhelmed and so appreciative of the generous support and commitment of the Keller Williams Realty Las Vegas associates and their business partners making a difference for our youth clients,” said Arash Ghafoori, NPHY executive director. “It means so much for these youth, not only to come home and find everything new and improved but also that so many people want to help them given their various life situations. We couldn’t make these upgrades for our youth without the Keller Williams team.”
Full Address: 821 Grier, Las Vegas, NV 89119
Property type and size: Single Tenant Flex Industrial
Loan Type (Perm, Construction, Refinance, Bridge or Mezzanine): Permanent
Loan Amount: $5,975,000
Interest Rate: 4.375%
Term and Amortization: 25 year term and 25 year amortization
Name and Lender Type: (Bank, Life Company, CMBS, Private): Life Insurance Company
Anything else pertinent: As a long term holder of real estate, the borrower wanted to lock in long term fixed rate financing before the market moved. Although single tenant, highly specialized buildings are difficult to finance, CommCap was able to secure a fully amortizing loan from a life insurance company at a very competitive rate.
Longtime Las Vegas REALTOR® Jack Woodcock was named the 91st recipient of the prestigious National Association of REALTORS® Distinguished Service Award (DSA) at the REALTORS® Legislative & Trade Expo in Washington, D.C. NAR established the DSA in 1979 to honor REALTORS® who have made outstanding contributions to the real estate industry and who serve as leaders in their local communities.
The award is considered the highest honor an NAR member can receive. Recipients must be active at the local, state and national association levels. That certainly describes Woodcock, said Greg Martin, 2017 president of the Nevada Association of REALTORS® (NVAR), who was at the event last week when the honor was announced. “From serving his country to serving his state and his profession, service is probably the word that best describes Jack and why he’s so deserving of this award,” Martin said. “Since entering the profession in 1974, Jack has been the REALTOR® embodiment of honor, leadership, service and commitment. He has emerged as a proven leader in our industry.” Martin added that Woodcock “has dedicated most of his adult life to his profession.”
Woodcock will be officially presented with the DSA award during the NAR Board of Directors Meeting at the REALTORS® Conference & Expo scheduled for Nov. 6 in Chicago. Woodcock has been a strong supporter of NAR’s government affairs efforts and what he calls “the REALTOR® Party.” He has chaired the political action committees of the NVAR and the Greater Las Vegas Association of REALTORS® for eight years and held the position of Region XI RPAC Trustee from 2007 through 2012. He was inducted into the NAR RPAC Hall of Fame in 2003, and has been a Golden “R” investor in these political action committees since 2002. He has said that one of his greatest industry accomplishments is the key role he played in founding, funding and developing the Lied Institute for Real Estate Studies at UNLV in the 1980s. In 2011, the Lied Institute and UNLV honored Woodcock with its Lieder Award.
Woodcock is also a proud veteran who served for 11 years in the U.S. Air Force and received two Air Force commendation medals and a Bronze Star for meritorious combat service while serving two 18-month tours in Southeast Asia. He also served in Germany, in Holland and in the Pentagon in the Command and Control Center for Air Force One.
On behalf of current and future home and property owners throughout the country, more than 9,600 Realtors® traveled to Washington, D.C., this week to advance key real estate issues during the 2017 REALTOR® Legislative Meetings & Trade Expo.
More than 85 REALTOR® representatives from across the Silver State joined fellow Realtors® from across the nation to attend meetings and informational sessions, as well as meet with regulatory agency staff and lawmakers on Capitol Hill to discuss and advocate real estate issues affecting their businesses, communities and clients.
Attending Realtors®, including members of the statewide Nevada Association of Realtors® (NVAR), focused on several significant issues affecting the industry during the legislative-focused meetings, including flood insurance, tax reform and sustainable homeownership.
“Realtors® are critical advocates for the real estate industry and for their clients, and this meeting is the perfect opportunity to educate ourselves on the issues facing real estate markets, as well as the legislative and regulatory issues on the horizon that could affect Realtors®, home buyers and sellers, and property owners,” said NVAR CEO Teresa McKee.
While in Washington, NVAR leaders met with Senator Dean Heller and Representatives Mark Amodei, Dina Titus, Ruben Kihuen and Jacky Rosen on Capitol Hill to discuss and influence public policy decisions that directly affect consumers’ ability to own, buy, rent and sell residential and commercial real estate.
“As the leading advocates for real estate, it is important for Realtors® to meet face to face with our nation’s representatives to make sure homeownership and commercial real estate remains top of mind, since these help to shape our communities and play crucial roles in the economic health of America,” said 2017 NVAR President Greg Martin.
One of the main issues discussed was the urgent need to pass a multiyear reauthorization of the National Flood Insurance Program before it expires onSept. 30. Additionally, Realtors® urged the protection of sustainable homeownership by advocating for responsible reform of the secondary mortgage market, prohibiting the use of guarantee fees for any purposes other than credit-risk management, improving consumer protections for energy-efficiency improvement loans and tax reform.
“With tax reform currently being discussed by the administration and legislators, it is important for regulators to hear from Realtors® that while tax reform is necessary, it cannot come at the expense of real estate tax provisions, such as the mortgage interest deduction, which are essential to the housing market and a key driver of the economy,” said Martin.
During the meetings, attendees also heard from industry experts and leaders, including Secretary of Housing and Urban Development Dr. Ben Carson, who spoke about the challenges facing potential homebuyers, including low home inventories and tight mortgage credit. During the meeting, Carson confirmed that HUD is in “lock-step” with Realtors® about an NAR-backed rule that would make it easier for consumers to buy a condominium with Federal Housing Administration backed financing, which has been pending since September 2016. Carson agreed that this rule would “make a big difference to a lot of Americans.”
In addition, attendees heard from Fox News’ Chris Wallace and CNBC’s Ron Insana, who shared their insights on the administration’s agenda and other legislative and regulatory happenings in Washington; Mark Calabria, chief economist to Vice President Mike Pence, who said reversing weak productivity and the low labor force participation rate are necessary to boosting the economy; John Worth, senior vice president for Research and Investor Outreach, National Association of Real Estate Investment Trusts, who shared his perspectives on commercial market activity; Roy Wright, deputy associate administrator for Insurance and Mitigation at the Federal Emergency Management Administration, who said that challenges remain in ensuring access to affordable flood insurance and a multi-year reauthorization of the NFIP is critical; and NAR Chief Economist Lawrence Yun, who shared residential and commercial real estate market updates and forecasts for the remainder of 2017.
During the week, Realtors® also participated in a series of on-site visits with regulatory agency staff at the Federal Aviation Administration, Federal Emergency Management Agency, U.S. Department of Treasury and the U.S. Department of Veterans Affairs.
In addition to the informational legislative sessions and meetings with legislators, NVAR members and conference goers had the opportunity to explore the latest industry innovations and receive up-to-date information on the newest products and services from more than 100 industry-leading companies that participated during the trade expo.