October 12, 2016
CBRE announces today the listing of a large parcel of property in Laughlin, Nevada. The parcel is approximately 2,000 acres and is located east of Needles Highway, south of Bruce Woodbury Drive and bordered on the west and south by Casino Drive. The decommissioned Mohave Generating Station is located on the property.
Keith Spencer, First Vice President, CBRE Brokerage Services, is the exclusive real estate broker assisting with the marketing and sale of the property owned by Southern California Edison (SCE), Los Angeles Department of Water and Power (LADWP) and NV Energy.
Centrally located within the southern Nevada community, this unique development opportunity has the potential to transform this historic brownfield to a greenfield for new employment, residential options and services. The existing infrastructure provided by the business-friendly Laughlin community creates an advantage over most alternative development opportunities of this scale. The central location which serves the Tri-State area with convenient access and proximity to popular recreational destinations, are unique benefits. A buyer will be selected by the first quarter of 2017.
For additional information, contact Keith Spencer with CBRE at 702.369.4800.
February 9, 2016
Babystacks Café 5, LLC leased 2,100 square feet of retail space for 96 months at 8090 Blue Diamond Rd, Suite 170, Las Vegas, NV 89113 from Sunstone Diamond, LLC. Total consideration was $363,300.00. Nelson Tressler and Michael Zobrist of Newmark Grubb Knight Frank represented the lessor in the transaction.
The approximate aggregate value of the lease is $1.80 per square foot.
Shapiro Trust Et al and Shapiro David & Ilana Trust sold 3.15 acres of land at 1160 W. Pioneer Blvd, Mesquite, NV 89027 to BHF, LLC. Total consideration was $854,980.00. Eric Berggren of Newmark Grubb Knight Frank represented the seller in the transaction.
The approximate aggregate value of this sale is $6.23 per square foot of land.
January 11, 2015
Southern Nevada’s land market continued its recovery in 2014, with 2,761 acres trading hands up 4.5% from the prior year, reports John Stater, research manager for Colliers International Las Vegas. There was $150 million in sales with an average price of $6.35 per square foot. During the real estate boom in 2007, land sold for $22.93 per square foot on average. After the market collapse, however, land prices reached a low of $4.41 per square foot in 2012. “The key to land sales is confidence in the future, both in terms of land investment and demand for land by developers,” said Stater. “The future is now looking brighter, although there room for more improvement.” For more information, CLICK HERE.
December 18, 2014
Tropicana Express LLC bought 57.42 acres of land at the southeast corner of E. Bruce Woodbury and Thomas Edison Drives in Laughlin for $1.9 million, or $33,089-per-acre, from Maday Geraldine Management Trust. First Real Estate Companies’ Kevin M. Buckley, Colleen McDonald, and Julie Anderson represented the seller.
October 6, 2014
Nuco Investments LLC bought 14.05 acres of land at 1040, 1050, and 1136 W. Pioneer Blvd. in Mesquite for $500,000, or $35,587-per-acre, from Branch Banking and Trust Company. Cushman & Wakefield-Commerce’s Dan Hubbard and Todd Manning represented the seller; Premier Properties of Mesquite Nevada represented the buyer.
August 4, 2014
Southern Nevada total land sales remains well below the levels seen in 2007, but during the first two quarters of 2014, there was 429.1 acres of commercial land that exchanged hands for $123.96 million in total volume, says Colliers International research manager John Stater. The average sales price of commercial land in 2014 was $577,605.50 per acre. “Until population growth increases, the land market in Southern Nevada will probably continue to improve at a slow pace,” Stater said. “Still, slow improvement is better than no improvement at all.” For more information, CLICK HERE.