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Category – Industrial

Avison Young Secures Retail Lease And Industrial Sale Transactions

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Bruges WafflesJacqueline Young and Liz Clare, CCIM of Avison Young represented the landlord, Monterey Vista Village in the 60 month, 1,200 SF retail lease at 3525 Fort Apache, Suite 2, 89147.  John Weisler of JW Michaels Realty Services represented the tenant, Bruges Waffles and Fries.  The total value of the lease was $182,130.

 

 

 

 

 

 

Village Square - 1-1-12 129Jacqueline Young and Liz Clare, CCIM of Avison Young represented both parties in the 64 month, 1,200 SF retail lease at 9400 Sahara, Suite 140, 89117.  The landlord was G&I VIII Village Square LLC and the tenant was Hair Queens.  The total value of the lease was $154,464.00.

 

 

 

 

 

 

 

 

4343 RanchoJacqueline Young and Liz Clare, CCIM of Avsion Young represented both parties in the 12 month, 2,906 SF retail lease at 4343 Rancho Drive, 89130. The landlord was 4343 N. Rancho DriveLLC and the tenant was Bath and Body Works. The total value of the lease was $43,600.

 

 

 

 

 

 

 

Chris Lexis and Joe Leavitt of Avison Young represented the buyer, CCC LLC in the purchase of a 12,000 SF industrial building at 2111 Western Avenue, 89102 from the sellers, Jerry and James Karr.  The total value of the sale was $900,000.

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.

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.


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