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Category – Marcus & Millichap

Marcus & Millichap Represents Investor In Sale Of “The Enclaves”

the enclavesMarcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of The Enclaves, a 53-unit multi-family property located in Las Vegas, Nevada.  The asset sold for $6,160,000.

The buyer, a limited liability company, was secured and represented by First Vice President Investments Michael LaBar and First Vice President Investments Michael Shaffner, of Marcus & Millichap’s Las Vegas office.

The Enclaves is located at 8455 West Sahara Avenue, in the highly-desirable West Las Vegas submarket, and features a mix of one- and two-bedroom units.

Marcus & Millichap Lists, Markets And Sells 3 Investment Properties

La QuintaMarcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of La Quinta Inn & Suites Las Vegas Airport South, a 140-room hospitality property located in Las Vegas, Nevada. The asset sold for $17,500,000. Marcus Threats CCIM, in Marcus & Millichap’s Las Vegas office, had the exclusive listing to market the property on behalf of the seller, a private investor.  Marcus also represented the buyer, who was a single tenant investor that saw the opportunity to be in Las Vegas, the #1 hotel market in the world.

 

 

 

6465 West SaharaMarcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of 6465 West Sahara, a 9,312-square foot office property located in Las Vegas, Nevada. The asset sold for $1,275,000.Ryan McCullough and Tina D. Taylor, in Marcus & Millichap’s Las Vegas office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The subject property is located at 6465 W Sahara Ave in Las Vegas, NV.

 

 

 

 

Rainbow Vista1Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Rainbow Vista Office Building, a 10,400-square foot office property located in Las Vegas, Nevada. The asset sold for $1,050,000. Tina D. Taylor and Ryan McCullough, in Marcus & Millichap’s Las Vegas office, had the exclusive listing to market the property on behalf of the seller, a partnership. Rainbow Vista Office Building is located at 1050 South Rainbow Blvd., just North of Charleston Blvd., in Las Vegas, Nevada.   The asset was vacant at the time of sale.  The Buyer is a local group who intends to occupy.

 

Bromley Apartments Sells For $2,480,000 – Marcus & Millichap

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Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Bromley Apartments, a 32-unit apartment property located in Las Vegas, NV. The asset sold for $2,480,000.

The buyer, an individual/personal trust, was secured and represented by Cesar A. Talavera, senior associate in Marcus & Millichap’s Las Vegas office.

Bromley Apartments is located at 5816 Bromley Ave in Las Vegas, NV.

Marcus & Millichap Confirms Investment Sales Transactions Across The Market

smoke ranchMarcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Smoke Ranch Plaza, a 10,000-square foot retail property located in Las Vegas, Nevada. The asset sold for $1,256,000.Dustin R. Alvino, first vice president investments, in Marcus & Millichap’s Las Vegas office, had the exclusive listing to market the property on behalf of the seller, a private investor. Smoke Ranch Plaza is located at 6595 Smoke Ranch Road in Las Vegas, NV

 

 

 

 

martin professionalMarcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Martin Professional  Building, a 8,708-square foot office property located in Las Vegas, Nevada. The asset sold for $1,415,000. 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, an individual/personal trust. Martin Professional Building is located at 9330 W Martin Ave in Las Vegas, NV.

 

 

 

 

holiday houseMarcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of the Holiday House and Holiday Motels, which together equate to 101 motel rooms on approximately 92,782-square feet of land located on Las Vegas Boulevard. The asset sold for $4,700,000. Dustin R. Alvino, first vice president investments, and Ray Germain, first vice president investments, in Marcus & Millichap’s Las Vegas office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The Holiday House and Holiday Motels are located at 2205-2211 Las Vegas Blvd S in Las Vegas, NV just north of Sahara Avenue.  “The properties are contiguous and provide the owner with significant frontage on one of world’s most well-known boulevards.    These properties received a great deal of interest resulting in multiple competing offers from both local and national buyers, indicating a substantial increase in investor confidence in this submarket,” says Germain.  Alvino adds, “We were thrilled to sell this property to a local developer who has exciting plans to redevelop this property and continue the beautification of this area of Las Vegas Boulevard.”

Marcus & Millichap Releases 4Q 2017 Las Vegas Apartment Report

Marcus MillichapHealthy job growth in office-using, hospitality sectors drives rental demand. Amid rising payrolls in the professional and business services and hospitality sectors, household growth is prompting demand for rentals. Elevated demand has prompted multiyear declines in vacancy to below 5 percent through the first half of 2017. Builders have responded to the sharp drops in vacancy, with completions set to rise to a multiyear high this year as 3,500 rentals are delivered. As a result, the three-year delivery total will top 9,100 units, which has begun to weigh on overall vacancy in the metro. While longer-term demand trends remain positive, a backup in vacancy is likely until supply moves more in line with the local need for housing.

Construction rises to multiyear high; projects proliferate in Southwest Las Vegas and Green Valley. Tight conditions are spurring a focus on multifamily and mixed-use projects, particularly in the southwestern submarkets and neighborhoods. Performance in these locations has begun to bifurcate, with many submarkets remaining tight while others struggle with new supply. The influx of properties at the high end is boosting overall rents as tenants lease at rates above the metro average.

View full report

Robust Tourism Sparks Occupancy and Revenue Growth in Southwest Hotels

Marcus MillichapMarcus and Millichap released its 2nd half 2017 Hospitality Research Regional Report. The Southwest region, which comprises Arizona, Colorado, Nevada, New Mexico and Utah, posted robust occupancy growth since last June. Each state contributed to rising occupancy and in turn fostered an increase in the average daily rate and RevPAR. Arizona and Utah posted occupancy gains of more than 100 basis points during the last four quarters as record-breaking visits to national parks in each state benefited occupancy improvement. Tourism in New Mexico underpinned the largest occupancy and RevPAR growth regionally.

Click Here to read the full report

 

Marcus & Millichap Arranges The Sale Of 10,000SF Net Leased Property

FysicalMarcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Fyzical Sports Therapy, a 10,000-square foot net-leased property located in Las Vegas, Nevada. The asset sold for $2,750,000, according to Todd R. Manning, regional manager of the firm’s Las Vegas office.

Ryan McCullough, associate, and Tina D. Taylor, vice president investments, in Marcus & Millichap’s Las Vegas office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.

Fyzical Sports Therapy is located at 9070 W Cheyenne Ave in Las Vegas, NV.

Marcus & Millichap Lists And Sells DaVita Facility

DavitaMarcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announces the sale of DaVita Dialysis, a 8,000-square- foot net-leased property. The asset sold for $2,525,000.

Dustin Alvino, first vice president investments, had the exclusive listing to market the property on behalf of the seller, a private investor. This DaVita Dialysis is located at 1103 New River Parkway in Fallon, Nevada.


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