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Category – November 2017

Team Palmeri – Wainright Of Cushman & Wakefield Secures 20 Million In Lease Value For Q3

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Team Palmeri – Wainwright of Cushman & Wakefield secured nearly $20 million in lease values in Q3 2017. The third quarter of 2017 in Las Vegas was a strong one for leasing activity, according to the Palmeri – Wainwright tenant representative team at Cushman & Wakefield. 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 10 tenant lease transactions totaling 146,000 square feet.

 

A 131-month new lease to Ballard Spahr LLP, was signed.  The +/- 14,955 square-foot space is located at 1980 Festival Plaza Dr, Ste 900, Las Vegas, NV 89135.  Dan Palmeri, SIOR, and Natalie Wainwright of Cushman & Wakefield represented the Tenant.  Randy Broadhead of CBRE represented the Landlord.

 

A 120-month new lease to DaVita Medical Management Services Nevada, LLC, was signed.  The +/- 35,528 square-foot space is located at 2650 N Tenaya Way, Ste 209 – 310, Las Vegas, NV 89128.  Dan Palmeri, SIOR, and Natalie Wainwright of Cushman & Wakefield represented the Tenant.  Barton Hyde of Avison Young represented the Landlord.

 

A 60-month new lease to Alorica Customer Care, Inc, was signed.  The +/- 30,498 square-foot space is located at 5070 Badura Ave, Las Vegas, NV 89118.  Dan Palmeri, SIOR, and Natalie Wainwright of Cushman & Wakefield represented the Tenant.  Nicola Fryatt of Thomas & Mack represented the Landlord.

 

A 36-month new lease to Banjo, Inc, was signed.  The +/- 12,881 square-foot space is located at 5655 Badura Ave, Ste 180, Las Vegas, NV 89118.  Dan Palmeri, SIOR, and Natalie Wainwright of Cushman & Wakefield represented the Tenant.  Nicola Fryatt of Thomas & Mack represented the Landlord.

 

A 120-month new lease to Total Renal Care, Inc, was signed.  The +/- 10,947 square-foot space is located at 2300 Corporate Cir, Ste 100, Henderson, NV 89014.  Dan Palmeri, SIOR, and Natalie Wainwright of Cushman & Wakefield represented the Tenant.  Charles Van Geel of American Nevada Realty represented the Landlord.

 

A 16-month lease renewal to DaVita Medical Management Services Nevada, LLC, was signed.  The +/- 18,470 square-foot space is located at 3131 La Canada, Ste 140, Las Vegas, NV 89169.  Dan Palmeri, SIOR, and Natalie Wainwright of Cushman & Wakefield represented the Tenant.  Paul Beechen of Corrigan Companies represented the Landlord.

 

A 60-month new lease to DaVita Medical Management Services Nevada, LLC, was signed.  The +/- 6,913 square-foot space is located at 3131 La Canada, Ste 200, Las Vegas, NV 89169.  Dan Palmeri, SIOR, and Natalie Wainwright of Cushman & Wakefield represented the Tenant.  Paul Beechen of Corrigan Companies represented the Landlord.

 

A 39-month new lease to Penn Interactive Ventures, LLC, was signed.  The +/- 5,740 square-foot space is located at 375 N Stephanie St, Henderson, NV 89014.  Dan Palmeri, SIOR, and Natalie Wainwright of Cushman & Wakefield represented the Tenant.  Glenn R Wilcox of Ohana Realty Group represented the Landlord.

 

A 122-month lease renewal to Intelligent Office, was signed.  The +/- 5,520 square-foot space is located at 9550 S Eastern Ave, Las Vegas, NV 89123.  Dan Palmeri, SIOR, and Natalie Wainwright of Cushman & Wakefield represented the Tenant.  Alil Kaveh of Platinum Realty Professionals represented the Landlord.

 

A 65-month new lease to Center for Comprehensive Services, Inc, was signed.  The +/- 4,558 square-foot space is located at 2785 S Rainbow Blvd, Las Vegas, NV 89146.  Dan Palmeri, SIOR, and Natalie Wainwright of Cushman & Wakefield represented the Tenant.  Paula Lea of Cushman & Wakefield represented the Landlord.

 

Colliers Las Vegas Secures More Than 135,000SF In Lease Activity This Past Week

7900 West Sunset Road, Suite 200A lease to Eye-Fi. The approximately 79,234 square foot industrial property is located in Southwest Corporate Campus at 7900 W. Sunset Rd., Suite 200 in Las Vegas. Susan Borst, CCIM, SIOR, Dan Doherty, SIOR, Paul Sweetland, SIOR, Chris Lane and Jerry Doty of Colliers International represented the lessor, Southwest Corporate Campus, LLC (Panattoni). Mike DeLew, SIOR and Greg Pancirov, SIOR of Colliers International represented the lessee.

 

 

 
4420 Mitchell StreetA lease renewal to Paper Recycling of Nevada Inc. The approximately 31,000 square foot industrial property is located in Nellis Industrial Park #4 at 4420 Mitchell 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.

 

 

 

 

 

 

 

 

 

5075 South Decatur BoulevardA lease to Elite Auto Credit LLC. The approximately 3,800 square foot retail property is located in Decatur Auto Plaza at 5075 S. Decatur Blvd. in Las Vegas. Al Twainy, CCIM and Amelia Hyden of Colliers International represented the lessor, WW & JJ Choi LLC.

 

 

 

 

 

 

 

 
???????????????????????????????A lease to Invictus International Holdings LLC. The approximately 3,710 square foot industrial property is located in Decatur Bell Commerce Center at 5030 S. Decatur Blvd., Suite H in Las Vegas. Mike DeLew, SIOR, Greg Pancirov, SIOR and Dean Willmore, SIOR of Colliers International represented the lessor, FJM Vegas Holdings LLC.

 

 

 

 

 

 

 

 

 

6255 Mojave Road, Suite FA lease to Crossfit Toolbox LLC. The approximately 3,500 square foot industrial property is located in Mojave Airport Center at 6255 Mojave Rd., Suite F in Las Vegas. Mike DeLew, SIOR, Greg Pancirov, SIOR, Dean Willmore, SIOR and Alex Stanisic of Colliers International represented the lessor, Stockbridge Patrick and Mojave LLC.

 

 

 

 

 

 
6012 Topaz Street, Suite 8A lease to Quick Dry LLC. The approximately 3,200 square foot industrial property is located in Patrick Airport Center at 6012 Topaz St., Suite 8 in Las Vegas. Mike DeLew, SIOR, Greg Pancirov, SIOR, Dean Willmore, SIOR and Alex Stanisic of Colliers International represented the lessor, Stockbridge Patrick and Mojave LLC.

 

 

 
675 Mall Ring Circle, Unit AA lease to Tacqueria El Buen Pastor. The approximately 2,905 square foot retail property is located at 675 Mall Ring Circle, Unit A in Henderson. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the lessor, PCM Mall Ring.

 

 

 
 

 

 

 

 

6038 Topaz Street, Suite 7A lease to CSC Serviceworks Inc. The approximately 2,580 square foot industrial property is located in Patrick Airport Center at 6038 Topaz St., Suite 7 in Las Vegas. Mike DeLew, SIOR, Greg Pancirov, SIOR, Dean Willmore, SIOR and Alex Stanisic of Colliers International represented the lessor, Stockbridge Patrick and Mojave LLC.

 

 

 

 

 
5055 South Decatur Boulevard, Suite 110-130A lease to Good Life Tint LLC. The approximately 1,950 square foot retail property is located in Decatur Auto Plaza at 5055 S. Decatur Blvd., Suite 110-130 in Las Vegas. Al Twainy, CCIM and Amelia Hyden of Colliers International represented the lessor, WW & JJ Choi LLC.

 

 

 

 

 

 

 

 

 

2925 East Patrick Lane, Suite JA lease to Shaolin Tactical Inc. The approximately 1,728 square foot industrial property is located in Patrick Commerce Center at 2925 E. Patrick Ln., Suite J in Las Vegas. Dan Doherty, SIOR, Paul Sweetland, SIOR, Chris Lane and Jerry Doty of Colliers International represented the lessor, Harsch Investment Properties LLC.

 

 

 

 

 

 

 
6005 South Fort Apache Road, Suite 110A lease to Toast Society LLC. The approximately 1,560 square foot retail property is located in Pine Plaza at 6005 S. Fort Apache Rd., Suite 110 in Las Vegas. Al Twainy, CCIM and Amelia Hyden of Colliers International represented the lessor, Pine Plaza Retail LP.

 

 

 

 

 

 

 

 

 

55 East Horizon Ridge Parkway, #120A lease to BC Pool Supply & Service LLC. The approximately 1,200 square foot retail property is located in Horizon Village Square at 55 E. Horizon Ridge Pkwy., #120 in Henderson. David A. Grant of Colliers International represented the lessor, Horizon Dorado LLC.

 

 

 

 

 

 

Bay Bridge Apartments Sells For $19 Million

bay ridgenorthcap-logoDevin Lee, CCIMRobin Willett,  Jerad Roberts and Jason Dittenber, of Northcap Multifamily, are pleased to announce the recent sale of the Bay Bridge Apartments for $19,000,000. This sale consisted of 208 multifamily units, located at 5400 S Maryland Parkway in Las Vegas, NV.  The sale closed on October 17, 2017 and Northcap Multifamily represented the Seller (29SC Country Hills LP) in this transaction.

“A 1981 property selling for $91,000 per unit at a 5.7% cap definitely signifies the forward outlook and current strength in the Las Vegas multifamily market”, said Devin Lee.

Exhibit Services Inks Long Term Lease

Exhibit ServicesExhibit Services LLC  signed a lease for 23,675 SF of office/warehouse space located at 6875 Speedway Boulevard, in Las Vegas.  The deal was valued at $693,344.   The Larkin Group with NAI Vegas represented the lessee and Rob Lujan and Jason Simon with Jones Lang LaSalle represented the lessor, Speedway Commerce Center, LLC c/o Harsch Investment Properties.

Entire Senior Apartment Community to Be Relocated

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The 42-year-old Rose Gardens Senior Apartments and its 120 units are feeling their age and are in need of interior and exterior nips and tucks. Instead of continuous repairs or renovation, an entirely new Rose Gardens Senior Apartments – with more amenities and services – will be built with all 120 households to be relocated together in a new affordable apartment community across the street from their current North Las Vegas location.

This is the first project of its kind in Clark County with permanent resident relocation to new facilities compared with a few previous temporary relocations during renovation. Rose Gardens is a Senior Public Housing Development of the Southern Nevada Regional Housing Authority (SNRHA). The estimated $21 million cost to develop the new Rose Gardens affordable senior community is through the federal government’s Rental Assistance Demonstration (RAD) public-private partnership program.

SNRHA has chosen to partner with Nevada HAND (Housing And Neighborhood Development) and its affiliate company HAND Construction to manage and build the new Rose Gardens Senior Apartments. The nonprofit real estate development and management organization was formed in 1993 to improve the lives of low-income individuals, families and seniors in Southern Nevada through affordable housing solutions and supportive services.

Residents are expected to move into their new apartment homes in December 2018. There will be no cost to them for the move; and their rent, which includes utilities, is not expected to increase from the 30 percent of adjusted household income they pay.

“We’re excited to be involved in Rose Gardens with so many great partners and revitalization in North Las Vegas to give residents a brand new home and features and services they currently don’t have,” Mullin said. “This type of public-private partnership is the perfect complement for our mission at Nevada HAND for residents at our properties to reach their full potential by creating opportunities for them to live well through support of economic stability, wellness, education and community engagement.”

Residents are excited too. “We’ve all known about this and have been looking forward to it for some time. Everybody knows everybody here,” said St. Clair Haywood, Jr., president of the Rose Gardens Resident Council.

In addition to new apartments, residents will get more amenities and access to services that are standard at Nevada HAND’s 31 other local affordable family, senior and assisted living communities.

These include a computer lab with free high-speed internet, fitness center, theater room, music room dog run, community gardens, BBQ/picnic facilities, gated parking, more secure building access, full-time property manager and on-site resident services with access to financial, supplemental         nutrition, and public resources; volunteer and education opportunities; and social programs.

During construction, residents will remain in their existing apartments. Upon completion, SNRHA and Nevada HAND will work together to make the relocation process seamless. Coordination and support will cover relocation assistance and counseling, transportation and moving services, utility and service transfers, social and support services, and elderly and disability assistance.

The new Rose Gardens will have 102 one-bedroom apartments of about 723 square feet and 18 two-bedroom units with approximately 928 square feet. These are larger than the current units and have more storage space, a private exterior balcony and energy efficient upgrades such as Energy Star-certified appliances. Currently there are 60 studio apartments and 60 one-bedroom apartments.

The design of the new apartments follows Leadership in Energy and Environmental Design (LEED) concepts and will result in lower energy costs at the complex. There also will be a recycling program. Upon project completion, the existing 1632 Yale Street facilities will be demolished with future plans for the site to be determined.

Marcus & Millichap Arranges The Sale Of 10,000SF Net Leased Property

FysicalMarcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Fyzical Sports Therapy, a 10,000-square foot net-leased property located in Las Vegas, Nevada. The asset sold for $2,750,000, according to Todd R. Manning, regional manager of the firm’s Las Vegas office.

Ryan McCullough, associate, and Tina D. Taylor, vice president investments, in Marcus & Millichap’s Las Vegas office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.

Fyzical Sports Therapy is located at 9070 W Cheyenne Ave in Las Vegas, NV.

Green Valley Town Center In Henderson Sold For $21.5 Million – Part Of American Nevada Portfolio

Green Valley 1Cushman & Wakefield has announced the sale of the Green Valley Town Center in Henderson, Nevada, a suburb of Las Vegas. Henderson Town Center LLC acquired the 194,757-square-foot (sf) multi-building mixed-use center for $21.5 million in September. The property is part of a massive high class regional real estate portfolio being sold by American Nevada Company, represented by Rick Reeder and Brad Tecca of Cushman & Wakefield’s Capital Markets. Cushman & Wakefield’s Geoffrey West, Jayne Cayton, and Michael Dunn are also performing local expert advisory in the disposition(s).

The sale consisted of Green Valley Town Center II & III (4300 & 4500 E. Sunset Rd.) and Athenian Green ValleyShops (4350 E. Sunset Rd.). Built in multiple phases from 1988 to 2001, the properties are situated on a combined 20.3 acres in the northern portion of the 8,400-acre Green Valley master-planned community. Green Valley Town Center II is a vibrant 117,902-sf retail center anchored by Galaxy Luxury Theater and Barley’s Casino and Brewing Company—which provides a unique unrestricted gaming use—plus several other smaller retailers. Athenian Shops is a 22,087-sf two-story multi-tenant retail center that features four tenants including two restaurants. Green Valley Town Center III is a dynamic 54,768-sf two-story, mixed-use property offering retail on the first floor and office space on the second floor. The property is anchored by Las Vegas Buffet plus several other retail and office tenants. Collectively, the three properties were approximately two-thirds leased at the time of sale.

Mr. Reeder, Executive Managing Director said, “This unique collection of properties is well positioned to restore its standing as a major retail node for the Green Valley/Southeast Las Vegas area, which is experiencing renewed interest and redevelopment.Further, the strong, diverse tenancy of the property forms a desirable financial profile with well-balanced rollover.”

He added, “Considered a strong investment market in the U.S., significant population growth and job gains, particularly in the hospitality and retail sectors, have led to expansion of the Las Vegas region’s diverse economy.”

Mr. Tecca, Executive Director, noted, “This locationoffers superior accessibility, visibility, and abundant parking, and is proximate to many nearby retailers that draw additional consumers to the area.In addition, the property serves a trade area for several thousands of residents, as well as employees at numerous nearby business centers.”


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