SIOR_Header

Category – All Las Vegas Real Estate

David Afromsky Of HiTower Realty Closes The Following Transactions

David Afromsky recently represented the Seller (PAR Homes 1,  LLC) in the sale of 2480 E Tompkins Ave. (office building) for $2.1MM.  The building was multi-tenant and 100% occupied.  The Buyer (Alson Lee and Linda NG) were represented by Nicholas Faskaris of ASF Realty).

 

David Afromsky represented IMMI(Integrated Medical Management Inc.) in the lease of 12,528rsf at Desert Canyon Plaza, 9127 West Russell Road, suite 100, LV NV 89148.  The Transaction was valued at $1,662.166.00.  The Landlord (Beltway One Development Group) was represented by Bobbi Miracle of Commercial Executives.

 

David Afromsky represented the Landlord (BGM Red Rock Inc.) in the lease of 23,681rsf of retail space to ROSS Stores, Inc. dba “dd’s” at 1435A West Craig Road, North Las Vegas Nevada, 89032.  The transaction is valued at $1,906,321.00.  The Tenant was represented by Lisa Callahan of SAGE Commercial Advisors.  The dd’s store is slated to open the end of August 2017.

Risks And Opportunities Facing The Commercial Real Estate Industry

SooziThe election of Donald Trump has made for uncertain times. Ecommerce and millennials are changing the commercial real estate industry. And retail’s loss has been industrial’s gain. Those are just a few of the takeaways from an in-depth report published by the National Association of REALTORS® (NAR) on the risks and opportunities facing the commercial real estate industry. Leaders of the Commercial Alliance Las Vegas (CALV) have been reviewing this report and its more than 120 pages. And at least one CALV leader had a hand in creating it.

Soozi Jones Walker, CCIM, SIOR and a former CALV president, was one of the independent commercial real estate brokers interviewed for the project she calls “The Danger Report.” One of her main takeaways is the fact that the average age of a commercial real estate professional keeps increasing and is now up to 60 years old. “I’m excited NAR has chosen to review the commercial industry and agree fully with the results of this danger report,” she said. “With an average age of the commercial agent now at 60, there is a huge opportunity for new agents to mentor under successful brokers and transition into their book of business.” The NAR report is titled “Commercial Real Estate ALERT: Analysis of the Latest Emerging Risks and Trends.”

The Strategic Thinking Advisory Committee of the NAR produced the report along with T3 Sixty, Inc., a leading research and information company. For four months, between November 2016 and February 2017, researchers interviewed senior executives from the five largest commercial real estate companies − CBRE, JLL, Newmark Grubb Knight Frank, Cushman & Wakefield and Colliers International − as well as numerous medium-size and regional companies. Besides these interviews, the NAR report relied on information and studies from the Urban Land Institute, American Bankers Association, International Facility Management Association, CCIM Institute, NAIOP Research Foundation, the Federal Reserve, The Appraisal Journal, PWC, Wells Fargo and others. “This study was made significantly more complicated due to the fact that the presidential elections fell during this window, and that the unexpected win by President Donald Trump and the subsequent realization that his leadership style would be unpredictable and impactful made many issues difficult to address,” the report states. The report concluded that “uncertainty is at an all-time high.”

Some of the highlights include:

• According to NAIOP, by 2025, the industry will face a shortage of 15,000 to 25,000 qualified leaders, without enough younger leaders to replace them. • Technology will continue to enhance every aspect of commercial real estate, from smart buildings to driverless vehicles. By 2025, it will have altered the economics of entire subsectors of the industry and changed the way real estate developers and the investment community operate

. • E-commerce has been invading every part of the economy, and now it is expected to have a significant impact on commercial real estate. • In 2016, the National Retail Federation reported that for the first time, shoppers made more purchases online during the Black Friday weekend than were made in the stores.

• As millennials enter the heart of their careers, their preference to be “totally connected” with immediate access to the Internet has followed them into the business world. For the industry, the biggest impact has been the transformation of the retail industry into a “click and knock” strategy that is altering what retail centers look like and “driving massive changes in the industrial sector.”

Please click the link here to view the full report.

 

Hayim Mizrachi, CCIM Reviews Las Vegas’s Commercial Real Estate Resilience

MDL Group Names Hayim Mizrachi Managing Partner

In January I heard two economists forecast the next recession will hit the nation around 2019. You can read more about it more here in my previous “Takeaways”. During the month of April I attended two events – both organized by NAIOP of Southern Nevada– that discussed major projects in Southern Nevada and the realities of passing Question 2 (a.k.a. recreational marijuana)

What I learned from these events makes me feel like even if the US Economy will recede in 2019; Las Vegas could skip that recession. Here are 2 reasons why.

1. The amount of capital that is in the works creating jobs (specifically in construction), coupled with the timing of these several large projects.

2. Las Vegas has fundamentally changed post the great recession increasing capacity and sophistication with this development cycle.

What did I learn at the two NAIOP events? Why do I believe Las Vegas has fundamentally changed? Which projects are so significant?

Please click here for link to full article.

Nevada Real Estate Industry Well Protected In 2017 Legislative Session

Greg Martin 2mbSo says the statewide Nevada Association of REALTORS® (NVAR), which cited several new laws that should help homeowners, along with some issues that could have hindered them and the real estate industry had they passed.

“The legislative process is never pretty,” 2017 NVAR President Greg Martin said. “But thanks in part to the NVAR and our work with state lawmakers, I think Nevada consumers and homeowners had a pretty good session. The same could also be said for our members.”

Martin, a longtime REALTOR® based in Elko, said examples include new laws protecting members of the military from foreclosure while on active duty, extending the state’s foreclosure mediation program and combatting squatters who occupy homes illegally.

There were also some surprises during the session, Martin added. For instance, he said NVAR leaders expected lawmakers to pass legislation related to reforming property taxes. But when lawmakers ended the 2017 session late during the evening of June 5, he said they left Carson City without doing much to address the issue beyond passing Senate Joint Resolution 14. It would amend the Nevada Constitution to reset depreciation and tax caps when a property transfers to a new owner. SJR14 must also be approved by the 2019 Legislature.

“We would have liked to see the Legislature approve a property tax study, but that didn’t happen,” Martin said. “I guess the good news is that property taxes weren’t increased.”

Other bills benefiting homeowners that were passed by the 2017 Legislature include:

·       Senate Bill 33 – This bill became law May 29. It protects members of the military from losing their homes to foreclosure, including by a homeowner association, while on active duty. NVAR supported it.

·       Senate Bill 255 – NVAR supported this bill to allow homeowners to cancel a contract to buy a property within an HOA via email after they have reviewed a package of documents provided by the HOA. This law takes effect July 1.

·       Senate Bill 490 – This bill, pending approval by Nevada Gov. Brian Sandoval, would extend the state’s Foreclosure Mediation Program, which is currently scheduled to sunset on June 30, 2017. The bill also requires Home Means Nevada, Inc. to administer the program, instead of the Nevada Supreme Court.

·       Assembly Bill 161 – This bill is intended to combat squatters, who often produce falsified rental documents when confronted by police officers trying to remove them from a home they are occupying illegally. The new law, which takes effect July 1, protects legitimate tenants with a lease signed by a permitted property manager while requiring a disclosure on rental agreements that creates a “rebuttable presumption” that the tenant does not have the right to live in a property if they can’t produce a rental agreement that has been notarized

·       Assembly Bill 169 – This bill makes closing a real estate transaction easier by having a more predictable title recording fee. This law takes effect on Oct. 1.

Newmark Knight Frank Represents The Sale Of 93,000sf Industrial Property

Newmark LogoNewmark Knight Frank represented Boli Family Trust, et al. and Peter & Jill Boli CO-TRS in the sale of 249-257 Elliott Rd., a 93,600 square foot industrial property, to 15100 Family Limited Partnership. Total consideration was $6,100,000.00. NKF’s Director Chris Beets represented the seller in the transaction. Bradford Dessy of First Western Properties, Inc. represented the buyer in the transaction.

Angius & Terry LLP Sign Three Year Deal

9127russellSoozi Jones Walker, CCIM, SIOR and Bobbi Miracle, CCIM, SIOR of Commercial Executives Real Estate Services recently represented Beltway One Development Group, LLC in the leasing of 3,339 +/- RSF of office space located at 9127 W. Russell Road, Suite 220, Las Vegas, NV to Angius & Terry, LLP. The lease is for 36 months and is valued at $260,076 ($2.16/SF).

Colliers Las Vegas Deals Of Note

 

COMPLETED SALES TRANSACTIONS:

 

4181 Oquendo_photoA 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.
 

 

 

222 w clevelanA 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:

 

 

6180 Pearl-BldgA 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.
 

 

 

 

6230 South Decatur BoulevardA 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.
 

 

 

 

 

3655-E-Patrick-LaneA 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.
 

 

 

 

3896-3900 Civic Center DriveA 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.
 

 

 

 

3595 Patrick-BldgA 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.
 

 

 

6255 South Mojave RoadA 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.
 

 

 

10595 Discovery LaneA 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.
 

 

 

 

8480 West Desert Inn RoadA 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.

 

 

 

 

 

55 Horizon Ridge ParkwayA 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.

Cushman & Wakefield Keeps Up Deal Flow For All Property Types

9041 s pecosRooftop 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.

 

 

 

 

8876 s easternStudio 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.

 

 

 

 

150 centennail parkwayJoshua 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.

 

 

 

 

320 e warm springsAir 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.

 

 

 

 

 

4175 s cameronSmartCareOS, 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.

 

 

 

 

 

8349 w sunsetGreen 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.

 

 

 

 

8359 wOlivier 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.

 

 

 

 

2303 n rainbowBest 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.

 

 

 

 

118 Corpo parkRoger 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.

 

 

 

 

 

55 e horizonUnited 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.

 

 

 

 

6425 s jonesRent-A-PC leased 39,000 SF of industrial space at Jones Corporate Park, Bldg B, 6425 S Jones Blvd, Las Vegas 89118. Jayne Cayton and Matt Kreft of Cushman & Wakefield Commerce represented the lessee.

 

 

 

 

8725 w saharaSutherland 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.

 

 

 

 

 

2571 e washburnFaciliteq 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.

Sun Commercial’s Latest Sales Transactions

1.16 Acres Cover PhotoThe 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.

 

 

 

 

 

3405 W Lake Mead #100The 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.

 

 

 

 

 

 

DCIM100MEDIADJI_0045.JPGThe 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.


Hit Counter provided by laptop reviews