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Category – Industrial

Mountain West Commercial Announces Recent Office, Retail & Industrial Transactions

8597 del wennKyle Nasse Agency Farmers Insurance leased 1,400 SF of retail space at Rampart Plaza, 8597 Del Webb Blvd. Las Vegas, Nevada 89134. Jakke Farley and Preston Abell of Mountain West Commercial represented the Lessee.

 

 

 

 

 

 

9691 Trail woodKobe Insurance DBA Farmers Insurance leased 880 SF of retail space at Trailwood Center, 9691 Trailwood Dr. Las Vegas, Nevada 89134. Jakke Farley of Mountain West Commercial represented the Lessee.

 

 

 

 

 

 

 

220 E HorizonAuralcare hearing centers DBA My Hearing Centers leased 1,000 SF of Office Space at Horizon Drive Office Complex, 220 E. Horizon Dr. Henderson, Nevada 89015. Jakke Farley of Mountain West Commercial represented the Lessee.

 

 

 

 

 

w oquendoRobles Cleaning and Handyman Service LLC leased 1,600 SF of Industrial Space at 3977 W. Oquendo Rd. Las Vegas, Nevada 89118. Jakke Farley of Mountain West Commercial represented the Lessee.

 

 

 

 

 

 

pecos mcleodCampbell’s Estate Gallery leased 2,150 SF of Office Space at Pines Professional Park at 3910 Pecos -Mc-Leod Interconnect Las Vegas, Nevada 89121. Jakke Farley of Mountain West Commercial represented the Lessor.

 

 

 

 

 

 

 

victory village123 ABC Grow, LLC leased 2,788 SF of Retail Space at Victory Village , 284 B Lake Mead Pkwy. Henderson, Nevada 89009. Jakke Farley of Mountain West Commercial represented the Lessor.

 

 

 

 

 

 

 

victory village2Fuzen Pho & Thirstea Juice leased 5,550 SF of Retail Space at Victory Village , 272 Lake Mead Pkwy. Henderson, Nevada 89009. Jakke Farley of Mountain West Commercial represented the Lessor.

 

 
 

 

 

9310Archie’s Thai Bistro leased 2,634 SF of Retail Space at Beltway Plaza, 9310 S. Eastern Ave. Suite 101 Henderson, Nevada 89123. Jeff Mitchell and Preston Abell of Mountain West Commercial represented the Lessor.

 

Christian Duffin Of Q10|Bonneville Secures Financing For 6475 & 6485 West Sunset

6485Sunset 215 West is an industrial property consisting of two buildings built in 2017 in the southwest industrial corridor along the I-215 freeway. It has seven dock-high doors that have a roof covering to protect products being loaded or unloaded from inclement weather or high heat. It also has three drive-in doors and the property has 32-foot ceiling clear heights. Approximately 10% of the industrial property is office build-out and it is visible from the I-215 freeway in-between Rainbow Blvd. and Jones Blvd.

Type of Transaction: Life Company Loan

Address: 6475 and 6485 West Sunset Road  Las Vegas, NV 89118

Mortgage Broker: Christian Duffin of Bonneville Real Estate Capital

Loan Amount: $6,000,000

Total Square Feet: 80,000

Details: The borrower requested a fixed rate, non-recourse loan with a fully amortizing 25 year term, which Bonneville Real Estate Capital was able to obtain through its Life Insurance sources.

RCG Economics & The Lied Institute Reveal Q2 2017 Market Survey

Lied Institute UNLVIndustrial: The Las Vegas Valley’s (“the Valley”) Industrial market1 grew total inventory to 117.4 million square feet (“sf”) of rentable space with 2.7 million sf of completions in the second quarter (“Q2”) of 2017. Net absorption (net demand) in Q2 increased sharply from the previous quarter to 2.0 million sf. Still, the Valley’s Industrial vacancy rate increased by 0.5 points to 6% in Q2, 2017. The vacancy rate is up by 0.8 points, when compared to Q2, 2016. At $0.69 per square foot (“psf”) NNN2 , the average monthly asking rent is down a nickel from Q1 ($0.74 psf), and is down $0.11 from Q2, 2016 ($0.80 psf). Even after this quarter’s big completions, forward-supply3 remains substantial with 4.5 million sf under construction and another 6.5 million sf in the planning stages. 98.1% of the space under construction is of the Warehouse/Distribution type, as is a large proportion of the planned space (96.3%). The Industrial market is recovered and stable.

Speculative Office: The Las Vegas Valley’s (“the Valley”) multi-tenant, Speculative Office market1 saw no new space come to market in the second quarter (“Q2”) of 2017. There are currently 26,480 sf under construction, with another 566,000 sf in the planning stages. Demand for space in Q2, 2017 was strong compared to previous quarters with 465,637 sf absorbed. This helped push down the Spec Office market vacancy rate by more than a point, from 20.3% in Q1 to 19.2% in Q2. Average monthly asking rents held at $1.95 per square foot (“psf”) FSG2. Demand in the Valley’s Spec Office market has grown steadily from a year ago when absorption was negative.

Anchored Retail: The Las Vegas Valley’s (“the Valley”) Anchored Retail market1 inventory (we do not track unanchored properties) remained at 44.3 million square feet (“sf”) at the close of the second quarter (“Q2”) of 2017 with only one completion over three months. Though demand was a meager +9,254 sf, it was better than the previous quarter when net absorption totaled -110,806 sf. After Anchored Retail’s vacancy rate climbed 0.3 points in Q1, it paused in the second quarter, remaining unchanged at 10.8%. This is 0.3 points better than the 11.1% recorded in Q2, 2016. Average monthly asking rents increased by $0.01 to $1.00 per square foot (“psf”) NNN2 in Q2. Compared to the previous year, rents are up $0.04. Forward-supply3 remains notably large at the end of Q2 with 374,943 sf under construction and another 821,550 sf of planned space for a total of 1.2 million sf.

For the full report..please click here

 

CommCap Advisors Secures LifeCo Loan For Wynn Road Business Center East

wynn rdWynn Road Business Center East is a light industrial building built in 1998 consisting of 6 grade level overhead doors and 14 dock high doors. Clear heights throughout the warehouse facility range from 20 to 24 feet and there is approximately 16% of office build-out. The building is finished with white-toned paint and red trim accents and includes ample area for signage above the office entrances. The property is in excellent condition.

 

Type of transaction: Loan- Life Company

Address: 5470 Wynn Road, Las Vegas NV 89118

Borrower: Wynn Road East LLC

Mortgage Broker: Kyle Nagy of CommCap Advisors (knagy@commcapnv.com)

Loan Amount: $2,750,000

Total square feet: 39,254

Details: Though a small balance, CommCap was able to secure a non-recourse institutional Life Insurance company loan.

Albright Callister’s Recent Deals Add To Summer Activity

3644Lessor/Seller: Four G’s, LLC

Lessor/Seller Broker/s:Bryan Houser

Lessor/Seller Brokerage Firm: Albright Callister & Associates

Lessee/Buyer: BESCO LV

Lessee/Buyer Broker/s:  NA

Lessee/Buyer Brokerage Firm:

Name of Business Center/Complex: Rancho Gowan Business Park

Street Address: (Specify whether it’s a Street, Avenue, Boulevard, Road, etc. If an address isn’t yet assigned, please list the cross streets and corner. Also, be sure to include the suite number, if applicable, as well as the city.)  3644 N Rancho Dr Las Vegas, NV 89130

Transaction Value: $130,770

Length of Lease: 49 months

Product Type: (Retail, Industrial, Office, Land, Residential) Office/warehouse

Square feet: 4,000

Acreage:

Rental Type: (Specify: Modified Gross, Triple Net, Full Service Gross) NNN

New Lease or Renewal NEW

Note: After a short marketing campaign this property leased to a high quality user and the Landlord provided custom TI work for the tenant to function properly from the space.

 

4512 andrewsLessor/Seller: Southern Nevada Industrial The Brookhollow Group

Lessor/Seller Broker/s:Bryan Houser

Lessor/Seller Brokerage Firm: Albright Callister & Associates

Lessee/Buyer: Tangerine Tile

Lessee/Buyer Broker/s:  NA

Lessee/Buyer Brokerage Firm:  NA

Name of Business Center/Complex: Andrews Industrial Park

Street Address: (Specify whether it’s a Street, Avenue, Boulevard, Road, etc. If an address isn’t yet assigned, please list the cross streets and corner. Also, be sure to include the suite number, if applicable, as well as the city.)  4512 Andrews St Suite H North Las Vegas, NV 89081

Transaction Value: $56,081

Length of Lease: 36 months

Product Type: (Retail, Industrial, Office, Land, Residential) Office/warehouse distribution

Square feet: 3,600

Acreage:

Rental Type: (Specify: Modified Gross, Triple Net, Full Service Gross) NNN

 

 

Lessor/Seller: Grandtrine Enterprises

Lessor/Seller Broker/s: Cindy Inman

Lessor/Seller Brokerage Firm: Priority One Commercial

Lessee/Buyer: Espri Laser Med Spa

Lessee/Buyer Broker/s:  Bryan Houser

Lessee/Buyer Brokerage Firm:  Albright Callister & Associates

Name of Business Center/Complex: Lakes Business Park

Street Address: (Specify whether it’s a Street, Avenue, Boulevard, Road, etc. If an address isn’t yet assigned, please list the cross streets and corner. Also, be sure to include the suite number, if applicable, as well as the city.)  8961 W Sahara Ave Suite 106 Las Vegas, NV 89117

Transaction Value: $56,161

Length of Lease: 24 months

Product Type: (Retail, Industrial, Office, Land, Residential) Office

Square feet: 1,590

Acreage:

Rental Type: (Specify: Modified Gross, Triple Net, Full Service Gross) MG

 

 

3470 w cheyeneLessor/Seller: Fink Trust

Lessor/Seller Broker/s: Bryan Houser

Lessor/Seller Brokerage Firm: Albright Callister & Associates

Lessee/Buyer: Allstate

Lessee/Buyer Broker/s:  NA

Lessee/Buyer Brokerage Firm:  NA

Name of Business Center/Complex: Cheyenne Business Park

Street Address: (Specify whether it’s a Street, Avenue, Boulevard, Road, etc. If an address isn’t yet assigned, please list the cross streets and corner. Also, be sure to include the suite number, if applicable, as well as the city.)  3470 W Cheyenne Ave Suite 101 North Las Vegas, NV 89032

Transaction Value: $14,940.00

Length of Lease: 18 months

Product Type: (Retail, Industrial, Office, Land, Residential) Office

Square feet: 1,174

Acreage:

Rental Type: (Specify: Modified Gross, Triple Net, Full Service Gross) NNN

 

 

8000 rainbowLessor/Seller: Southwest Market Place Station

Lessor/Seller Broker/s:

Lessor/Seller Brokerage Firm:

Lessee/Buyer: # 1 Hawaiian BBQ

Lessee/Buyer Broker/s:  Bryan Houser

Lessee/Buyer Brokerage Firm:  Albright Callister & Associates, LLC

Name of Business Center/Complex: Southwest Marketplace

Street Address: (Specify whether it’s a Street, Avenue, Boulevard, Road, etc. If an address isn’t yet assigned, please list the cross streets and corner. Also, be sure to include the suite number, if applicable, as well as the city.)  8000 S Rainbow Blvd Suite G La Vegas, NV 89139

Transaction Value: $491,106.00

Length of Lease: 120 months

Product Type: (Retail, Industrial, Office, Land, Residential) Retail

Square feet: 1,400

Acreage:

Rental Type: (Specify: Modified Gross, Triple Net, Full Service Gross) NNN

 

4620 mitchellLessor/Seller: SubLessor American Expressways

Lessor/Seller Broker/s: Bryan Houser

Lessor/Seller Brokerage Firm: Albright Callister & Associates

Lessee/Buyer: Castle Cabinets

Lessee/Buyer Broker/s:  Marty Martell

Lessee/Buyer Brokerage Firm:  MDL Group

Name of Business Center/Complex: GBS Industrial

Street Address: (Specify whether it’s a Street, Avenue, Boulevard, Road, etc. If an address isn’t yet assigned, please list the cross streets and corner. Also, be sure to include the suite number, if applicable, as well as the city.)  4620 Mitchell St Suite H North Las Vegas, NV 89081

Transaction Value: $26,040

Length of Lease: 12 months

Product Type: (Retail, Industrial, Office, Land, Residential) Warehouse Storage

Square feet: 3,300

Acreage:

Rental Type: (Specify: Modified Gross, Triple Net, Full Service Gross) NNN

 

4700 mitchellLessor/Seller: GSC Industries, LLC

Lessor/Seller Broker/s: Bryan Houser

Lessor/Seller Brokerage Firm: Albright Callister & Associates

Lessee/Buyer: GIST Specialties

Lessee/Buyer Broker/s:  Eric Larkin

Lessee/Buyer Brokerage Firm:  NAI Vegas

Name of Business Center/Complex: NA

Street Address: (Specify whether it’s a Street, Avenue, Boulevard, Road, etc. If an address isn’t yet assigned, please list the cross streets and corner. Also, be sure to include the suite number, if applicable, as well as the city.)  4700 Mitchell St North Las Vegas, NV 89081

Transaction Value: $115,200

Length of Lease: 12 months with 4 – 1 year renewal options

Product Type: (Retail, Industrial, Office, Land, Residential) Warehouse Storage

Square feet: 30,000

Acreage:

Rental Type: (Specify: Modified Gross, Triple Net, Full Service Gross) NNN

New Lease or Renewal: New

 

 

2939 MarcoLessor/Seller: 2930 Marco St, LLC

Lessor/Seller Broker/s: Dean Willmore

Lessor/Seller Brokerage Firm: Colliers

Lessee/Buyer: Red Rock Recycling

Lessee/Buyer Broker/s:  Bryan Houser

Lessee/Buyer Brokerage Firm:  Albright Callister

Name of Business Center/Complex: NA

Street Address: (Specify whether it’s a Street, Avenue, Boulevard, Road, etc. If an address isn’t yet assigned, please list the cross streets and corner. Also, be sure to include the suite number, if applicable, as well as the city.)  2930 Marco St Las Vegas, NV 89115

Transaction Value: $1,398,632.00

Length of Lease: 60 Months

Product Type: (Retail, Industrial, Office, Land, Residential) Industrial Warehouse and yard Storage

Square feet: 31,500

Acreage:

Rental Type: (Specify: Modified Gross, Triple Net, Full Service Gross) NNN

New Lease or Renewal: New

 

1285 rockpebbleLessor/Seller: ROCK NLV, LLC

Lessor/Seller Broker/s: Bryan Houser and Douglas Albright

Lessor/Seller Brokerage Firm: Albright Callister & Associates

Lessee/Buyer: Cutting Edge Supplies

Lessee/Buyer Broker/s:  NA

Lessee/Buyer Brokerage Firm:  NA

Name of Business Center/Complex:

Street Address: (Specify whether it’s a Street, Avenue, Boulevard, Road, etc. If an address isn’t yet assigned, please list the cross streets and corner. Also, be sure to include the suite number, if applicable, as well as the city.)  1285 Rockpebble Ave North Las Vegas, NV 89030

Transaction Value: $630,000

Length of Lease:

Product Type: (Retail, Industrial, Office, Land, Residential) Office Warehouse yard Storage

Square feet: 5641 SF with yard

Acreage:

Rental Type: (Specify: Modified Gross, Triple Net, Full Service Gross)

New Lease or Renewal: New

 

3450 w cheyenneLessor/Seller: Cheyenne Business Park, LLC

Lessor/Seller Broker/s: Bryan Houser and Douglas Albright

Lessor/Seller Brokerage Firm: Albright Callister & Associates

Lessee/Buyer: Tishbi, Inc

Lessee/Buyer Broker/s:  David Afromsky

Lessee/Buyer Brokerage Firm:  HI Tower Realty

Name of Business Center/Complex: Cheyenne Business Park

Street Address: (Specify whether it’s a Street, Avenue, Boulevard, Road, etc. If an address isn’t yet assigned, please list the cross streets and corner. Also, be sure to include the suite number, if applicable, as well as the city.)  3450, 3550, 3560, 3562 W Cheyenne North Las Vegas, NV 89032

Transaction Value: $2,475,000.00

Length of Lease:

Product Type: (Retail, Industrial, Office, Land, Residential) Office Park

Square feet: 20,000 Sf total

Acreage:

Rental Type: (Specify: Modified Gross, Triple Net, Full Service Gross)

New Lease or Renewal: New

 

 

 

Marcus & Millichap Represents North Las Vegas Industrial Building Sale

2645Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of a 8,690-square foot industrial property located at 2645 West Cheyenne Avenue in North Las Vegas, Nevada. The asset sold for $725,000, according to Todd R. Manning, regional manager of the firm’s Las Vegas office.

Tina D. Taylor, First Vice President Investments, and Ryan McCullough, Associate, in Marcus & Millichap’s Las Vegas office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, Mekad, LLC, was secured and represented by Taylor and McCullough as well.

Virtus Commercial Recent Transactions Across The Region

Valley View BusinessLocate Holdings, Inc has leased approximately 1,920 SF of industrial space at Valley View Business Center, located at 6280 S. Valley View Blvd. Ste. 614, in Las Vegas.  Theresa Vinuya with Heller Companies represented the Lessor, York Nevada Management, LLC II and Matt Feustel of Virtus Commercial represented the Lessee.

 

 

 

 

 

Copper PointeIglesias Bautista La Senda has leased approximately 1,475 SF of office space at Copper Pointe, located at 4510 S. Eastern Ave. Ste. 1, in Las Vegas.  Jakke Farley of Virtus Commercial represented the Lessor, Murphy Family Trust.

 

 

 

 

 

arville industrialEC Supplies, LLC and Premium Granite, LLC has leased approximately 2,280 SF of industrial space at Arville Industrial Park, located at 4560 S. Arville St., in Las Vegas.  David Burns of Commercial Specialists represented the Lessor, 4520 Orville and McKinley Manor and Erick Ramirez of Virtus Commercial represented the Lessee.

 

 

 

 

 

Buffalo AltaSameer Z. Israel has leased approximately 1,498 SF of retail space at Buffalo Alta Center, located at 450 S. Buffalo Dr. Ste. 112, in Las Vegas.  Jackie Zlatanovski of Virtus Commercial represented the Lessee and Brett Beck of Virtus Commercial represented the Lessor, Buffalo Alta Center, LLC.

 

 

 

 

 

 

 

Century ParkRobinson Law Group, CHTD has leased approximately 1,025 SF of office space at Century Park, located at 1771 E. Flamingo Rd. Ste. B120, in Las Vegas.  Brian Antflick of Era Brokers Consolidated – Gladstein Group, represented the Lessee and Brett Beck of Virtus Commercial represented the Lessor, Flamingo Spencer Garden LLC.

Ryan McCullough Of Marcus & Millichap Represents Sale Of 1820 Western Avenue

1820Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of a 5,880-square foot industrial property located at 1820 Western Avenue in Las Vegas, Nevada. The asset sold for $685,000, according to Todd R. Manning, regional manager of the firm’s Las Vegas office.

Ryan McCullough, an investment specialist in Marcus & Millichap’s Las Vegas office, had the exclusive listing to market the property on behalf of the seller, Isleworth Ventures, LLC. The Equity Group’s Joseph Anderson and Steve Nosrat represented the Buyer.


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