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CBRE Sales Heating Up

CBRECBRE announced the following transactions:

The sale of a single-tenant office building located 2534 Anthem Village Dr., Henderson, NV 89052. Charles Moore, CSM, and Marlene Fujita-Winkel of CBRE’s Las Vegas office represented the buyer, Conejo Valley Properties, a California LLC, in the $1,261,000 transaction encompassing 5,040 square feet. The seller, Robison Seidler Inc, was represented by Eric Larkin of NAI.

The sale of Sahara Rainbow Center, a retail center located at 2350 S. Rainbow Blvd., Las Vegas, NV 89146. Charles Moore, CSM, and Marlene Fujita-Winkel of CBRE’s Las Vegas office represented the seller, Ominet Sahara, LLC, in the $7,850,000 transaction encompassing 54,924 square feet. The buyer, The Canzoneri Family Trust, was represented by Robert Ybarra, also of CBRE’s Las Vegas office. The property is situated near the corner of Rainbow Boulevard and Sahara Avenue, and according to Fujita-Winkel, is 87 percent leased.

The sale of a vacant building located 4495 S. Pecos Rd., Las Vegas, NV 89121. Charles Moore, CSM, and Marlene Fujita-Winkel of CBRE’s Las Vegas office represented the seller, Wayward Properties, Inc., in the $1,335,000 transaction encompassing 9,454 square feet. The buyer, SSWD Revocable Trust, was represented by Michelle Manley of Award Realty. The property is located near the corner of Pecos Road and Harmon Avenue.

CBRE Brokers $4.75 Million Sale of Office Building

CBRECBRE announced  the sale of an office building located 6650 Via Austi Parkway, Las Vegas, NV 89119. Charles Moore, CSM, Marlene Fujita-Winkel and Bart DeBuono of CBRE’s Las Vegas office represented the seller, DIG MCC, LLC, in the $4,750,000 transaction encompassing 14,831 square feet. The buyer, Oil Valley Petroleum LLC, did not have broker representation.

“This is a fully leased building in the Marnell Corporate Center that transacted at one of the highest price-per-square-foot levels since the recession,” said Fujita-Winkel.

2017: Year of the Lamb (Technology Center)

Lamb Technology CenterLamb Technology Center starts the 2017 year off strong with 4 Industrial building sales:

  • HEM Holdings Inc. purchased 2773 & 2777 N. Lamb Blvd. for $908,000 or $71.52 psf.
  • Seneca River Trading purchased 2757 N. Lamb Blvd. for $465,000 or $73.26 psf.
  • Osmar Rodriquez purchased 2725 N. Lamb Blvd. for $530,000 or $83.50 psf.

The Higgins/Toft Industrial Logistics represented the MCA Realty (Seller) in these transactions.

333 Orville Wright Ct Changes Hands

333orvilleThe Robert L. Hartsfield & Margery K. Hartsfield Trust sold 15,034 square feet of industrial space at 333 Orville Wright Ct., to The David S. Colvin Revocable Family Trust. Total consideration was $1,950,000.00. Ben Millis, Chris Beets, and Dave Wrzesinski of Newmark Grubb Knight Frank represented the seller in the transaction. Greg Tassi of CBRE represented the buyer in the transaction.

CBRE Hotels To Auction The Rita Suites Las Vegas

Rita-Suites-Las-VegasCBRE Hotels has been exclusively engaged to market the 221-room Rita Suites located one block off the Las Vegas ‘Strip’ at 344 E Desert Inn Road in Las Vegas, Nevada.

“With excellent, current net operating income and strong profit margins, this all-suite, fee simple property offers a tremendous upside opportunity to affiliate with a national hotel brand or as a multi-family or mixed-use redevelopment play,” said Chris Komanowski, senior vice president, of CBRE Hotels in Las Vegas. Mr. Komanowski added, “We are offering the Rita Suites in an auction format with bids due on March 1, 2017.”

Located behind Wynn’s Encore Casino Resort and proximate to the Las Vegas Convention Center expansion which is currently under construction, the unencumbered Rita Suites benefits from year-round demand from one of the most popular leisure and convention cities in the world.

CBRE Hotels is a specialized advisory group within CBRE providing capital markets, consulting, investment sales, research and valuation services to companies in the hotel sector. CBRE Hotels is comprised of more than 385 dedicated hospitality professionals located in 60 offices across the globe.

 

 

Get a Haircut now open at The Promenade at Juhl in Downtown Las Vegas

California-based Get a Haircut, a classic men’s barber shop that combines classic hair cuts with classic rock n’ roll, is now open at The Promenade at Juhl, the 20,000-square-foot ground-level retail component at Juhl, a 344-residence, multi-building community that spans an entire city block in downtown Las Vegas. The Promenade at Juhl officially opened in November and is bringing critically needed retail and services to an underserved area of downtown.

“We are delighted to welcome Get a Haircut to Las Vegas and The Promenade at Juhl,” said Uri Vaknin, a partner at KRE Capital LLC, whose company, in partnership with Dune Real Estate Partners, purchased Juhl in 2013 as DK Las Vegas. “This is a fun, hip place that has done very well in California, and we expect it to be equally popular here. While downtown Las Vegas has great beauty lounges like Bombshell, Get a Haircut fills a void by bringing a quality and reputable men’s hair salon to the area. Now all the attorneys and other professionals who work in the area have a great place to get their hair cut.”

promenadeGet a Haircut joins other retailers already open at The Promenade at Juhl, including:

  • Greens & Proteins –A modern, family friendly café serving breakfast, lunch and dinner, featuring a menu full of healthy comfort foods, vegan, raw and vegetarian options and a smoothie and fresh juice bar.
  • Le Pho – The recently opened Vietnamese kitchen at Promenade at Juhl specializes in fast, fresh and simple dishes by owner Chef Khai Vu.
  • Classic Jewel - The cocktail lounge Classic Jewel serves up drink options that pay homage to Vegas of yesteryear. The bar is owned by a team of friends, three who live at Juhl.
  • A/V Boutique & Downtown Décor – A/V Boutique specializes in home theater retail and design, catering to young professionals.  Downtown Decor is a place to purchase eclectic and esoteric home furnishings and décor. Owners Tammy Gerlach and John Marshall, are Juhl residents.
  • JAECI – A jewelry store owned and operated by Jenna Consiglio, a lifelong Las Vegan who moved to Juhl three years ago.
  • Galerie Miscre8 – Tanya Michelle, street artist and owner of Galerie Miscre8 and Lil Art Bodega, the urban gallery and supply store that combines street art with fine art, has made her personal and professional home at Juhl for three years.

 

Coming soon: 

  • The Corner Market, a community convenience store is planned to open in 2017.

CBRE Hotels to Auction the Rita Suites Las Vegas

CBRECBRE Hotels has been exclusively engaged to market the 221-room Rita Suites located one block off the Las Vegas ‘Strip’ at 344 E Desert Inn Road in Las Vegas, Nevada.

“With excellent, current net operating income and strong profit margins, this all-suite, fee simple property offers a tremendous upside opportunity to affiliate with a national hotel brand or as a multi-family or mixed-use redevelopment play,” said Chris Komanowski, senior vice president, of CBRE Hotels in Las Vegas. Mr. Komanowski added, “We are offering the Rita Suites in an auction format with bids due on March 1, 2017.”

Located behind Wynn’s Encore Casino Resort and proximate to the Las Vegas Convention Center expansion which is currently under construction, the unencumbered Rita Suites benefits from year-round demand from one of the most popular leisure and convention cities in the world.

ViaWest Group Enters Las Vegas Market

lamb-industrial-revised-drawings-002-1Phoenix-based real estate investment and development firm ViaWest Group has closed on the purchase of 7.29 acres on Lamb Boulevard, just south of E. Craig Road in the North Las Vegas submarket. CBRE’s Kevin Higgins and Zac Zaher assisted with the development analysis and land acquisition.

Via West plans to develop a 121,890-square foot “mid-bay” multi-tenant industrial development, catering to small and mid-sized tenants, an under-served segment of the market. The building will have 28-foot clear height, up to 9 suites (or bays), catering to tenants in the 10,000 to 30,000 square foot range.  The front-loaded building will also be cross-docked, enabling larger tenants additional loading and distribution functionality.  The tentative address is 4305 N. Lamb Boulevard, Las Vegas, Nevada.  The project has not yet been named.

Over the past several years, industrial property vacancy has in Las Vegas has declined from a peak of approximately 15% to a current vacancy of just over 5%.  Most new development has been large warehouse distribution buildings catering to large e-commerce companies.  However, as the entire market has been recovering, small to mid-sized tenants now have very few options if they are looking to either enter the market or move locations, or if they have outgrown their existing space.  ViaWest Group’s goal is to fill this market need.  “We are very excited to enter the Las Vegas industrial market with this project,” noted Gary Linhart, Founding Partner at ViaWest Group.  “We have been looking to either buy or develop mid-bay buildings, but with 5% vacancy and very little competitive product on the horizon, we think it is time to build,” he added. Kevin Higgins stated “We believe there is an excellent opportunity for an entrepreneurial developer like Via West to take advantage of the under-serviced mid-bay market in the North Las Vegas submarket.”

ViaWest is looking to add to its investment in Las Vegas, with a focus on acquiring and building industrial properties.  Kevin Higgins and Zac Zaher of CBRE’s Las Vegas office are leasing this project for ViaWest Group.  Anticipated completion date is early 2018.


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