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Category – Cushman & Wakefield Commerce

Cushman & Wakefield To Acquire Partner Firms In Minneapolis, Seattle, Salt Lake City, & Las Vegas

Pantone_Cushman_Wakefield_CommerceBig news out of Cushman & Wakefield Commerce. The company’s operations in Salt Lake City, Las Vegas and Seattle as well as its sister company, Cushman & Wakefield NorthMarq, based in Minnesota, have been acquired. The buyer is the global corporation, Cushman & Wakefield.

Through this acquisition, 750 employees, including 200 brokers from Utah, Nevada, Washington and Minnesota will now be formally part of one of the largest commercial real estate companies in the world. Far more than an acquisition, this agreement represents the formal merging of these regional offices with a major global powerhouse and will impact the local market in a major way by adding formal, global resources to ground floor brokers.

CHICAGO, August 15, 2017 – Cushman & Wakefield today announced it has entered into an agreement with NorthMarq Companies, a private holding company of the Pohlad family of Minneapolis, to acquire Cushman & Wakefield NorthMarq (CWN) in Minnesota and Cushman & Wakefield Commerce (CWC) operations in Nevada, Utah and Washington.

Collectively, Cushman & Wakefield NorthMarq and Cushman & Wakefield Commerce employ 750 employees and manage almost 50 million square feet of real estate across 10 offices.

“This is far more than an acquisition – this is the formal merging of a trusted partner into our company,” said Tod Lickerman, Chief Executive Americas. “This also affirms our commitment to our clients to offer them the best strategic advice and our full platform of services wherever they do business.”

Eduardo Padilla, CEO, NorthMarq Companies, added, “We believe there is a logical and compelling reason to sell our operations to Cushman & Wakefield at this time. Specifically, the industry is consolidating, with sophisticated clients needing a seamless platform irrespective of geography or service. We’re incredibly proud of this team’s achievements and excited to see them merge into Cushman & Wakefield’s operations.” NorthMarq Companies and NorthMarq Capital are not included in this acquisition.

Cushman & Wakefield also announced that the leadership teams in the four markets will remain in place.

 

Cushman & Wakefield Commerce Confirms Strong Deal Activity This Summer

marbeyaDigital PCS Nevada, Inc renewed 1,721 SF of office space at Marbeya Business Park, 6655 W Sahara Ave, Ste C110, Las Vegas 89146. Nick Barber and Jeremy Foley of Cushman & Wakefield Commerce represented the lessor, Pacific Peninsula, LLC.

 

 

Russell CrossingsShawn Lievense leased 550 SF of retail space at Russell Crossings, 5651 S Grand Canyon Dr, Ste 105, Las Vegas 89148. Lauren Tabeek, CCIM and Katelyn Panella of Cushman & Wakefield Commerce represented the lessor, Berryessa Plaza, LLC.

 

 

35656 E PostOnTime Deliver, Inc leased 1,508 SF of office space at 3565 E Post Rd, Ste 105, Las Vegas 89120. Pete Janemark, CCIM of Cushman & Wakefield Commerce represented the lessor, AMJ 3565 Post, LLC.

 

 

 

35656 E PostA&R Diversified Human Services, LLC leased 2,763 SF of office space at 3565 E Post Rd, Ste 105, Las Vegas 89120. Pete Janemark, CCIM represented the lessor, AMJ Craig, LLC.

 

 

 

 

222 S RainbowInfinite Possibilities Adult Day Center, LLC leased 222 S Rainbow Blvd, Ste 201-212, Las Vegas 89145. Pete Janemark, CCIM of Cushman & Wakefield Commerce represented the lessor, 222 Rainbow, LLC.

 

 

 

 

4845 JudsonCivil Werx, LLC leased 1,850 SF of office space at 4845 Judson Ave, 2nd Fl, Las Vegas 89115. Pete Janemark, CCIM of Cushman & Wakefield Commerce represented the lessor, Alexander & Belmont, LLC.

 

 

 

6205 s PearlBRC, Inc leased 4,800 of industrial space at Prologis Arrowhead Commerce Center 7, 6205 S Pearl St, Ste 1200, Las Vegas 89120. Elizabeth Moore and Jennifer Levine, CCIM of Cushman & Wakefield Commerce represented the lessee.

 

 

 

2537 e washburnNinehorn, LLC leased 4,075 SF of industrial space at 2537 E Washburn Rd, North Las Vegas 89081. Elizabeth Moore and Jennifer Levine, CCIM represented the lessor, Haresh & Gopal Idnani.

 

 

 

 

222 S RainbowLexie and Alley, LLC dba Rescue Test Strips. leased 610 SF of Office space at Rainbow Office Park, 222 S. Rainbow Blvd., Suite 219, Las Vegas 89145. Pete Janemark of Cushman & Wakefield Commerce represented the lessor, 222 Rainbow, LLC.

 

 

 

810-durangoBrec Lighting, LLC leased 800 SF of Office space at Angel Park, 810 S. Durango Road, Suite 102, Las Vegas 89145. Pete Janemark of Cushman & Wakefield Commerce represented the lessor, SET Properties c/o Priority One Commercial.

 

 

 

Red Feather PlazaUnder-Weight Fitness & Martial Arts, LLC leased 3,783 SF of industrial space at Red Feather Plaza, 3281 N. Decatur Blvd., Suite 185, Las Vegas 89130.  Pete Janemark of Cushman & Wakefield Commerce represented the lessor, Red Feather Property LLC.

 

 

Charleston ValleyAnchor Injury Law Group renewed 1,122 SF of office space at Charleston Valley View Business Park, 3841 W Charleston Blvd, Ste 201, Las Vegas 89102. Neil Sorkin and Bob Hawkins of Cushman & Wakefield Commerce represented the lessor, WBCMT 2007-C33 Charleston Boulevard, LLC.

 

 

 

The canyonsHall, Prangle, & Schoonveld, LLC expanded their office space by 1,385 SF at The Canyons, 1160 Town Center Dr, Stes 200 and 160, Las Vegas 89144. Jayne Cayton and Matt Kreft of Cushman & Wakefield Commerce represented the lessee.

 

 

 

Pines Office CenterBlood Systems, Inc dba United Blood Services of Nevada renewed 1,025 SF of office space at Pines Office Center, Ste 104, Las Vegas 89117. Nick Barber and Jeremy Foley of Cushman & Wakefield Commerce represented the lessor, Pines Office Center, LLC.

 

 

 

7303 s DecaturABS Decatur Enterprises bought 1.68 acres of land for $1,400,000 at 7303 S Decatur Blvd. Nick Barber and Jeremy Foley of Cushman & Wakefield Commerce represented the buyer.

 

 

 

 

Cheyenne PointWorldwide Cellphone, LLC leased 1.016 SF of retail space at Cheyenne Pointe, 2315 E Cheyenne Ave, Ste 120, Las Vegas 89030. Dan Hubbard, Jason Park, and Eric Rogosch of Cushman & Wakefield Commerce represented the lessor, Medford Capital, LLC.

 

 

Centennial PlazaDavid Biesinger dba Centennial Foot and Ankle leased 1,285 square feet of retail space at Centennial Plaza, 150 E. Centennial Parkway, Suite 106, N. Las Vegas 89084. Lauren Tabeek and Katelyn Panella of Cushman & Wakefield Commerce represented the seller/landlord, Centennial 5 Development LLC.

 

 

marbeyaAmber Care Hospice Inc. renewed their lease of 992 square feet office space at Marbeya Business Park 6655 W. Sahara Avenue, Suite B108, Las Vegas 89146. Nick Barber and Jeremy Foley of Cushman & Wakefield Commerce represented the seller/landlord, Pacific Penninsula LLC.

 

 

 

Palms Business CenterClark County renewed 9,424 SF of industrial space at Palms Business Center North, 2980 Meade Ave, Las Vegas 89102. Leo Biedermann of Cushman & Wakefield Commerce represented the lessor, Fisher Brothers Las Vegas, LLC.

 

 

Valley View CommerceMaster Craft Carpet Service, Inc leased 11,688 SF of industrial space at Valley View Commerce Center, 5230 S Valley View Blvd, Ste A & B, Las Vegas 89118. Elizabeth Moore and Jennifer Levine, CCIM of Cushman & Wakefield Commerce represented the lessor, Valley View Commerce Ctr LLC.

 

 

 

Gibson PalmsPerma Treat, Inc leased 1,508 SF of industrial space at Gibson Palms Corporate Park, 118 Corporate Park Dr, Ste 117, Henderson 89074. Leo Biedermann of Cushman & Wakefield Commerce represented the lessor, Olymbec USA, LLC.

 

 

 

Spectrum Office PlazaKaplan Neurology Chartered, P.C. leased 2,773 square feet of office space at Spectrum Office Plaza, 2445 Fire Mesa, Suite 190, Las Vegas 89128. Bob Hawkins of Cushman & Wakefield Commerce represented the seller, Anderson & Puryear Pistashio, LLP.

 

 

 

7340 SmokeTransamerica Audio Group, Inc. renewed their lease of 5,011 square feet of office space at 7340 Smoke Ranch Road, Suite A, Las Vegas 89128. Bob Hawkins of Cushman & Wakefield Commerce represented the seller, Brookhollow Business Park, LLC.

 

 

7340 SmokeUNLV renewed their lease of 1,614 square feet of office space at 7310 Smoke Ranch Road, Suite Q, Las Vegas 89128. Bob Hawkins of Cushman & Wakefield Commerce represented the seller, Brookhollow Business Park, LLC.

 

 

Imperial PlazaSin City Ventures Corp. dba Home Cleaning Centers of America leased 1,325 SF of Retail space at Imperial Plaza, 4343 N. Rancho Drive, Suites 219-220, Las Vegas 89130. Bob Hawkins and Neil Sorkin of Cushman & Wakefield Commerce represented the lessor, Royal Investors Group, LLC.

 

 

 

7340 SmokePicture This Clothing LLC   leased 2,074 SF of Office space at Brookhollow Business Park, 7310 Smoke Ranch Road, Suite M, Las Vegas 89128.  Bob Hawkins and Neil Sorkin of Cushman & Wakefield Commerce represented the lessor, Brookhollow Business Park, LLC.

Brittany Kemer taking the role of Director of Marketing and Media for CREW Las Vegas

Kemer_Brittany_prCushman & Wakefield Commerce’s Brittany Kemer has recently been named 2017 Director of Marketing and Media for CREW Las Vegas. In this Board of Directors’ role, Brittany will be working to increase and enhance the visibility of CREW, maintain the website, write and publish the newsletter and any press releases, social media content planning, and creates and schedules email blasts. Additionally, she will ensures all advertising, collateral, and promotional pieces carry correct branding and follow standards for CREW Las Vegas, and produces any advertisements, collateral, and information for the monthly luncheons. Brittany also works with the Special Events Committee to design, produce art, advertising, and collateral for annual special event

“Brittany brings a massive amount of value to the table, through her upbeat personality and creative marketing skills she is just what we need to bring CREW Las Vegas to the next level,” says Natalie Wainwright, President of CREW Las Vegas, Associate- Tenant Representative with Cushman & Wakefield Commerce.

Brittany joined the Las Vegas team in 2015, and her current responsibilities as Senior Brokerage Assistant are to provide support to multiple brokers who specialize in investment, office, industrial, and retail leasing. Prior to joining Cushman & Wakefield Commerce, Brittany worked at Voit Real Estate Services and CBRE for four years, as the Executive Marketing Specialist to the Higgins & Toft Industrial Team. In the role as Executive Marketing Specialist, Brittany responsibilities was to see transactions through, from listing to closing, including all administrative services, managing transactions in escrow, creating all marketing materials and services, and maintaining current property databases.

Team Palmeri – Wainwright of Cushman & Wakefield Commerce secure $12 Million in lease values in Q2 2017

cushman1The second quarter of 2017 in Las Vegas was another strong one for leasing activity, according to the Palmeri – Wainwright tenant representative team of Cushman & Wakefield Commerce. 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 12 tenant lease transactions totaling 155,000 square feet.

  •  A 48-month new lease to KR Young Group, Inc, was signed.  The +/- 1,867 square-foot space is located at 500 N Rainbow Blvd, Ste 105, Las Vegas, NV 89107.  Dan Palmeri, SIOR, and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Chris Johnson of Real Capital Corporation represented the Landlord.
  • A 24-month new lease to eCommerce Consultants, LLC, was signed.  The +/- 2,775 square-foot space is located at 2121 E Tropicana Ave, Studio 4, Las Vegas, NV 89119.  Dan Palmeri, SIOR, and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Ryan Misaresh of Simply Vegas represented the Landlord.
  • A lease renewal to DaVita Medical Management Services Nevada, LLC, was signed.  The +/- 13,291 square-foot space is located at 8285 W Arby Ave, Ste 100, Las Vegas, NV 89113.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.
  • A 12-month lease renewal to SolarCity Corporation, was signed.  The +/- 46,057 square-foot space is located at 7180 Pollock Dr, Las Vegas, NV 89119.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Nicola Fryatt of Thomas & Mack represented the Landlord.
  • A 65-month new lease to Centene Management Company, LLC, was signed.  The +/- 27,095 square-foot space is located at 2500 N Buffalo Dr, Ste 2400, Las Vegas, NV 89128.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Darren Lemmon, Randy Broadhead & Amy Lance of CBRE represented the Landlord.
  • A 63-month new lease to Marksman Security Corporation, was signed.  The +/- 3,079 square-foot space is located at 5820 S Eastern Ave, Ste 240, Las Vegas, NV 89119.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Mike Tabeek of Newmark Grubb Knight Frank represented the Landlord.
  • A 36-month new lease to Best Buddies International, Inc dba Best Buddies Nevada, was signed.  The +/- 2,334 square-foot space is located at 6655 W Sahara Ave, Ste A110, Las Vegas, NV 89146.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Nick Barber & Jeremy Foley of Cushman & Wakefield Commerce represented the Landlord.
  • A 63-month lease renewal to Advantage Waypoint, LLC, was signed.  The +/- 9,526 square-foot space is located at 5525 S Decatur Blvd, Ste 107, Las Vegas, NV 89118.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Lisa Chasteen of LaPour Management represented the Landlord.
  • A 60-month new lease to Caltrol, Inc, was signed.  The +/- 11,864 square-foot space is located at 300 Commerce, Ste 100, Irvine, CA 92602.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Irvine Realty Company represented the Landlord.
  • A lease renewal to DaVita Medical Management Services Nevada, LLC, was signed.  The +/- 7,604 square-foot space is located at 2851 N Tenaya Way, Ste 101, Las Vegas, NV 89128.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Bruce Follmer of CBRE represented the Landlord.
  • An 84-month lease renewal & expansion to Carroll, Kelly, Trotter, Franzen, McKenna & Peabody, was signed.  The +/- 8,352 square-foot space is located at 8329 W Sunset Rd, Ste 250 & 260, Las Vegas, NV 89113.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  Nicholas Barber, Paula Lea & Jeremy Foley of Cushman & Wakefield Commerce represented the Landlord.
  • A 34-month lease expansion to Take-Two Interactive Software, Inc, was signed.  The +/- 21,156 square-foot space is located at 302 E Carson Ave, Ste 200, Las Vegas, NV 89101.  Dan Palmeri, SIOR and Natalie Wainwright of Cushman & Wakefield Commerce represented the Tenant.  David Scherer of Newmark Grubb Knight Frank represented the Landlord.

Cushman & Wakefield Commerce Shows Just How Active Las Vegas CRE Is Today

cushman1Penna Powers leased 140 SF of office space at 4880 University Dr, Ste B6, Las Vegas 89103. Nick Barber, Jeremy Foley, and Paula Lea, CCIM of Cushman & Wakefield Commerce represented the lessor, Doug DonBoer.

State Farm Insurance renewed 1,103 SF of office space Durango Courtyard, 4735 S Durango Dr, Ste 110, Las Vegas 89147. Neil Sorkin and Bob Hawkins of Cushman & Wakefield Commerce represented the lessor, Durango Management, LLC.

2T Concrete leased 4,986 SF of industrial space at 6504 Boulder Ranch Ave, Ste 100, Henderson 89011. Leo Biedermann and Art Farmali of Cushman & Wakefield Commerce represented the lessor, Boulder Ranch, LLC.

Sukar & Sons of Nevada, Inc dba Cricket Wireless Authorized Retailer 884 SF of retail space at Horizon Marketplace, 10608 S Eastern Ave, Ste C 89052. Lauren Tabeek, CCIM and Katelyn Panella of Cushman & Wakefield Commerce represented the lessee.

MIN-COO Inc dba Green Turtle Salon renewed 1,940 SF of retail space at Amador Plaza, 1590 W Horizon Ridge Pkwy, Ste 100, Henderson 89012. Lauren Tabeek, CCIM and Katelyn Panella of Cushman & Wakefield Commerce represented the lessee.

Attal, Inc dba Pots leased 1,700 SF of retail space at Rainbow Oakey Plaza, 1745 S Rainbow Blvd, Ste A-B, Las Vegas 89146. Lauren Tabeek, CCIM and Katelyn Panella of Cushman & Wakefield Commerce represented the lessor, Bridge Group Investments, LLC.

RAI 10 Eastern, LLC dba Meineke leased 5,500 SF of retail space at 10 N Eastern Ave, Las Vegas 89101. Dan Hubbard of Cushman & Wakefield Commerce represented the lessee.

Morgan Specialties, Inc renewed 3,209 SF of office space Brookhollow Business Park, 7310 Smoke Ranch Rd, Ste C, Las Vegas 89128. Bob Hawkins of Cushman & Wakefield Commerce represented the lessor, Brookhollow Business Park, LLC.

Astound Group leased 344,528 SF of industrial space at I-15 Speedway Logistics Center #2, North Las Vegas 89115. Alma Cuevas of Cushman & Wakefield Commerce represented the lessee.

Glide Installations, LLC leased 8,008 SF of industrial space at Craig Commerce Center, 2629 E Craig Rd, Ste H, North Las Vegas 89030. Alma Cuevas of Cushman & Wakefield Commerce represented the lessee.

Vegas Valley SVC, LLC renewed 3,600 SF of industrial space at Desert Inn Commerce Center, 3230 W Desert Inn Rd, Ste 160, Las Vegas 89102. Leo Beidermann of Cushman & Wakefield Commerce represented the lessor, Paradise Las Vegs, LLC.

Polynesian Entertainment, LLC renewed 4,292 SF of industrial space at Palms Business Center North, 3030 Rigel Ave, C3030, Las Vegas 89102. Leo Biedermann of Cushman & Wakefield Commerce represented the lessor, Fisher Brothers Las Vegas, LLC.

Goliath Outdoor Furniture, LLC renewed 3,781 SF of industrial space at Palms Business Center North, 3004 S Rancho Rd, Las Vegas 89102. Leo Biedermann of Cushman & Wakefield Commerce represented the lessor, Fisher Bothers Las Vegas, LLC.

B Signs, Inc renewed 1,417 SF of industrial space at Palms Business Center North, 3004 Rigel Ave, Las Vegas 89102. Leo Biedermann of Cushman & Wakefield Commerce represented the lessor, Fisher Brothers Las Vegas, LLC.

Parnell Electric renewed 5,712 total SF 2911 Meade Ave, 3026 Rigel Ave, and 3028 Rigel Ave, Las Vegas 89102. Leo Biedermann of Cushman & Wakefield Commerce represented the lessor, Fisher Brothers Las Vegas, LLC.

Crossroads Courier, Inc renewed 3,500 SF of industrial space at Patrick Airport Center, 2700 E Patrick Ln, Ste 15, Las Vegas 89120. Jennifer Levine, CCIM and Elizabeth Moore of Cushman & Wakefield Commerce represented the lessee.

TMSCOA, LLC leased 901 SF of office space at 9053 S Pecos Rd, Ste 2910, Henderson 89074. Nick Barber and Jeremy Foley of Cushman & Wakefield Commerce represented the lessor, 9005-9089 South Pecos Road, LLC.

Mobilelink Nevada, LLC leased 2,000 SF of retail space at Los Posados Plaza, 802 Buchanan Rd, Boulder City 89005. Nick Barber and Jeremy Foley of Cushman & Wakefield Commerce represented the lessor, Los Posados Plaza, LP.

LexTech, LLC leased 3,000 SF of industrial space at 1000 Stephanie Pl, Ste 6, Henderson 89014. Jennifer Levine, CCIM and Elizabeth Moore of Cushman & Wakefield Commerce represented the lessor, The Koll Company.

Thailicious Corp leased 1,972 SF of retail space at Stephanie Beltway, 19 S Stephanie St, Ste 160, Henderson 89012. Eric Rogosch, Dan Hubbard, and Jason Park of Cushman & Wakefield Commerce represented the lessor, Vegas Stephanie, LLC.

Philip T Varricchio and PTV, ESQ, LLC leased 1,000 SF of office space at 3273 E Warm Springs Blvd, #4, 5, 6, 7, Las Vegas 89120. Bob Hawkins of Cushman & Wakefield Commerce represented the lessor, Westward Consultants, Inc.

Best Buddies International leased 2,334 SF of office space at Marbeya Business Park, 6655 W Sahara Ave, Ste A110, Las Vegas 89146. Nick Barber, Jeremy Foley, and Paula Lea Cushman & Wakefield Commerce represented the lessor, Pacific Peninsula, LLC.

Best Buddies International leased 11,406 SF of office space at Cameron East Business Park, 4310 S Cameron St, Ste 14, Las Vegas 89103. Jennifer Levine, CCIM and Elizabeth Moore of Cushman & Wakefield Commerce represented the lessor, Cameron Industrial Park, LLC.

Payment Connect, Inc leased 982 SF of office space at Pines Office Center, 7351 W Charleston Blvd, Ste 140, Las Vegas 89117. Nick Barber and Jeremy Foley of Cushman & Wakefield Commerce represented the lessor, Pines Office Center, LLC.

One Platinum, Inc leased 1,037 SF of office space at Durango Courtyard, 4735 S Durango Dr, Ste 115, Las Vegas 89147. Neil Sorkin and Bob Hawkins of Cushman & Wakefield Commerce represented the lessor, Durango Management, LLC.

Delta Group International, LLC subleased 1,300 SF of office space at Durango Courtyard, 4735 S Durango Dr, Ste 101, Las Vegas 89147. Neil Sorkin and Bob Hawkins of Cushman & Wakefield Commerce represented the lessor, Peter A Mansky, MD Consultants Ltd.

Carrier Corporation leased 2,700 SF of industrial space at 5565 S Decatur Blvd, Ste 105, Las Vegas 89118. Leo Biedermann and Art Farmanali of Cushman & Wakefield Commerce represented the lessee.

Atomic Television, Inc leased 1,200 SF of industrial space at 3855 E Patrick Ln, Ste 155, Las Vegas 89120. Lauren Tabeek, CCIM and Katelyn Panella of Cushman & Wakefield Commerce represented the lessor, Leonardi Properties, Inc.

Mobilelink Nevada, LLC leased 1,085 SF of retail space at 6512 N Decatur Blvd, Ste 130, Las Vegas 89131. Lauren Tabeek, CCIM of Cushman & Wakefield Commerce represented the lessee.

A & D Design, Inc leased 11,406 SF of office space at Cameron East Business Park, 4310 S Cameron St, Ste 14, Las Vegas 89103. Jennifer Levine, CCIM and Elizabeth Moore of Cushman & Wakefield Commerce represented the lessor, Cameron Industrial Park, LLC.

Cardno, Inc leased 3,528 SF of industrial space at The Palms at Green Valley Business Park, 6 Sunset Way, Ste B102, Henderson 89014. Jennifer Levine, CCIM and Elizabeth Moore of Cushman & Wakefield Commerce represented the Lessor, Washington Street Dev, LLC.

High Manor, LLC purchased 4,430 1SF of office space at 1000 Wigwam Way, Las Vegas 89077 for $757,000. Eric Rogosch of Cushman & Wakefield Commerce represented buyer.

Papa North Star, LLC dba Teriyaki Boy leased 1,500 SF of retail space at 2135 E Cheyenne Ave, Ste 120, North Las Vegas 89303. Dan Hubbard, Jason Park, and Eric Rogosch of Cushman & Wakefield Commerce represented lessor, Medford Capital, LLC.

2233 Paradise Road, LLC leased 10,738 SF of office space at 101 Convention Center Dr, Ste 700, Las Vegas 89109. Bob Hawkins, Jayne Cayton, and Matt Kreft of Cushman & Wakefield Commerce represented the lessor, Vegasstarr LLC and Concord Prime LLC.

JHK Law, a California Incorporated Company leased 1,071 SF of office space at Canyon Plaza, 7995 W Sahara Ave, Ste 104, Las Vegas 89117. Bob Hawkins of Cushman & Wakefield Commerce represented the lessor, Winner Properties LLC, a Colorado Limited Liability Company.

Cushman & Wakefield Commerce Grows Las Vegas Team With The Addition Of Kimberly Noack-Summers

unnamedThe Las Vegas office of Cushman & Wakefield Commerce has added industry veteran Kimberly Noack-Summers as a Director to its roster of seasoned industrial brokers. Summers specializes in industrial sales, leasing, development and investment sales.

“Throughout her career, Kimberly has successfully executed numerous transactions that were extremely complex and multifaceted,” said Michael Dunn, Market Leader for the Las Vegas office of Cushman & Wakefield Commerce. “She Joins the family team of Warren and Travis Noack, where she will leverage market knowledge and industry experience on behalf of our clients.”

Prior to joining Cushman & Wakefield Commerce, Summers was Vice President, Brokerage Services at Gatski Commercial in Las Vegas and prior to that she was Vice President for 18 years at NAI Capital – South Bay in Torrance, California.

Summers earned a MBA in Finance from Loyola Marymount University, Los Angeles, Calif.; a BA in Finance, California State University Fullerton, Fullerton, Calif.; and Financial Paraplanner Designation from the College for Financial Planning, Denver, Colo.

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.

Cushman & Wakefield Reviews Implications From The New Body Politic

cushman1

Measuring the success of a new Administration by its first 100 days is a tradition, and President Trump reaches his first key milestone with campaign promises to overhaul Washington and jump-start the economy. This special report provides a perspective on:

 

 

  • How key economic indicators (inflation, job growth) and commercial real estate are performing so far
  • The status of key policy proposals, including trade and defense
  • What to watch for beyond the first 100 days

Please click here for the full report.

U.S. Industrial Market Maintains Record-Breaking Pace

cushman1U.S. industrial markets absorbed 53.8 million square feet (MSF) of space in the first quarter of 2017, well above the quarterly absorption average of 49.3 MSF witnessed during the current economic expansion and significantly higher than the average quarterly absorption of 40.6 MSF registered during the last two economic growth cycles, according to Cushman & Wakefield’s first quarter industrial market report.

The national industrial vacancy rate continued to decline in the first quarter, falling 20 basis points (bps) from Q4 2016 and 80 bps from a year ago to 5.3%. Industrial vacancy is now a full 300 bps below the 10-year historical average of 8.3%. Vacancy rates declined or held firm during the quarter in 51 of the 79 markets tracked by Cushman & Wakefield. Strong leasing fundamentals have driven vacancies for each industrial product lower than at any point in the last economic cycle.

John Morris, Executive Managing Director of Logistics & Industrial Services for the Americas, says the outlook for the industrial sector remains promising, and he expects 2017 to be another year of solid growth.

“Going forward, the demand drivers for industrial remain firmly intact,” Morris said. “Much of what drives demand for industrial space links to the U.S. consumer. With consumer confidence at its highest level in 16 years, growing optimism suggests consumer spending will accelerate.

“It isn’t just that consumers are spending, either,” Morris continued. “It is how they are purchasing, which is increasingly online. Online sales continue to drive significant requirements for new industrial space across the country. An uptick in eCommerce-related leasing by 3PLs and healthy demand from other logistics and distribution occupiers are fueling rent growth.”

U.S. industrial rents increased 4.2% in the first quarter compared to a year-ago. Industrial rents increased in 71 of 79 markets tracked by Cushman & Wakefield from the first quarter of 2016 to the first quarter of 2017, with over one-third of the country reporting double-digit gains. In many markets, industrial rents are now either at their historic high or quickly approaching it, and on a national level, we are witnessing rental rate appreciation for every industrial product type.

On the development front, 54.9 MSF of industrial product was delivered in the first quarter with the majority of deliveries coming online in major industrial markets and primary inland distribution hubs. Developers continued to break ground on more speculative projects in many markets. In the first-quarter, speculative projects under construction totaled 145.5 MSF, comprising 66.3% of the total 219.3 MSF currently under construction.

“Construction continues to ramp up nationally, with U.S. ground breakings up 24% since the fourth quarter of 2016, but the majority of speculative development remains concentrated in primary industrial markets, as does the most significant notable leasing volume,” said Jason Tolliver, Head of Industrial Research, Americas. “The Inland Empire, Dallas and Atlanta are where one-third of the nation’s speculative projects are underway, but these markets also turned in the strongest first-quarter leasing performance, comprising nearly 30% of all U.S. net absorption. The script has been the larger the market, the stronger the leasing, and the greater the development.

“Both eCommerce and international trade are driving logistics-related development, and the growth of both is accelerating,” Tolliver continued. “Given improved fundamentals, the current speculative pipeline and our expectation that 2017 will be another year where net absorption surpasses 225 MSF, there is some room left before supply catches demand. That gap will close first in the primary markets where a number of speculative projects are poised to come online in the next two quarters, but even then the market shift should be subtle.  There is no market where vacancy is poised to skyrocket due to pending deliveries.”

In the first quarter of 2017, the top 10 strongest markets in terms of demand for industrial space were Atlanta, with 6.4 MSF of absorption; Dallas/Ft. Worth, with 5.4 MSF; the Inland Empire, with 4.2 MSF; Cincinnati, with 4.0 MSF; Chicago, with 2.7 MSF; the Pennsylvania I-81/I-78 Distribution Corridor, with 2.6 MSF; Kansas City, with 2.6 MSF; Memphis, with 2.2 MSF; Phoenix, with 2.1 MSF; and Stockton, CA, with 2.0 MSF.

The tightest markets in terms of overall vacancy included Los Angeles, at 1.3%; Orange County, at 2.0%; Oakland/East Bay, at 2.3%; Cincinnati and Savannah, GA, at 3.0%; San Jose, at 3.1%; Nashville, at 3.2%; Charlotte and Seattle, at 3.4%; and Detroit, at 3.5%.

Las Vegas Commercial Real Estate Continues to See Growth in Industrial, Office Markets in 2017’s First Quarter

The first quarter Marketbeat report by Cushman & Wakefield Commerce for Las Vegas is now available, and it shows that the Las Vegas market continued its post-recession recovery in the first three months of 2017. The reports detail the industrial, office and retail markets, as well as the general state of the economy and commercial real estate in Southern Nevada.

“The first quarter continued the positive upswing that Las Vegas and Southern Nevada has been experiencing recently, with strong indications that the overall commercial real estate market will continue to strengthen in 2017,” said Michael Dunn, market leader for the Las Vegas office of Cushman & Wakefield Commerce. “The industrial market is the strongest sector at the moment, and the momentum of the industrial market is expected to continue for the balance of the year. The industrial market is tight right now, particularly for smaller to medium sized companies. Construction is brisk; however, most of the buildings coming online are for companies seeking large spaces such as those in the e-commerce and distribution market.”

New construction continued to improve, especially in the industrial sector with more than 4.7 million square feet of buildings are expected to be delivered in the upcoming quarters. North Las Vegas and Henderson submarkets led the way with more than 4 million square feet of new industrial construction.

The office market’s occupancy improvement continued in the first quarter with a decreased vacancy rate. The retail market, however, will continue to remain landlord friendly in regards to neighborhood and power centers in the foreseeable future. E-commerce continues to disrupt major retailers as store closures and bankruptcies continue to make headlines both nationally and locally.

Las Vegas Industrial Snapshot

The overall industrial vacancy rate continues to remain relatively low at 5.7 percent. If demand in the large e-commerce and distribution demand wanes, then there may be greater availability later this year with supply outweighing demand. The question is if demand will keep pace with supply in the big box sector.

Las Vegas Office Snapshot

The Las Vegas office vacancy rate was 15.1 percent at the close the end of March 2017, which is down 2 percent from the first quarter of 2016. New office construction during the first quarter totaled more than 100,000 square feet and is expected to continue to rise in the upcoming quarters.

Las Vegas Retail Snapshot

The retail real estate market slowed down in the first quarter, but continues to see a positive absorption rate, which is expected to remain positive through 2017. It is also expected that lease rental rates will continue to rise and vacancy rates will continue to decrease in neighborhood and power centers, until more construction begins in the Las Vegas retail market. One recent event that could make a huge impact on the Las Vegas retail real estate market in the next few years is arrival professional football. The relocation of the Oakland Raiders to Las Vegas and the new 65,000-seat stadium is expected to result in 6,000 new jobs for the market.

To access the full Marketbeat reports, please visit: http://www.comre.com/research


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