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Category – Multifamily

Flamingo Chateau Sells For $16 Million – Northcap Multifamily

FlamingoCoverPic (1)Robin Willett, Devin Lee, CCIM, Jerad Roberts, and Jason Dittenber, of  Northcap Multifamily are pleased to announce the recent sale of Flamingo Chateau for $16,600,000.  The sale consisted of 136 multifamily units, located at 6570 W. Flamingo Road, Las Vegas, NV.

Flamingo Chateau was built in 1992. There are one and two-bedroom floor plans that consist of fully-equipped kitchens, spacious walk-in closets, fireplaces, private balconies/patios along with in-unit washers and dryers.

The transaction closed on May 22nd, 2017.  Northcap Multifamily  was pleased to have worked with the Seller, Flamingo Garden Villas, LLC, in this successful transaction.

36 Multifamily Units Sell for $2,115,000

SONY DSCSONY DSCDevin Lee, CCIM, Jerad Roberts, Robin Willett, and Jason Dittenber of Northcap Multifamily, announced the sale of Shields Apartments for $930,000, and Sunset Circle Apartments for $1,185,000. These sales consisted of 16 multifamily units, located at 609 & 611 S. 11th St. in Las Vegas, NV and 20 multifamily units, located at 1937 Sunset Circle in Henderson, NV.  Northcap Multifamily represented the Seller, Theobald Investments, LLC in these transactions. The buyer was Santiago & Kevin Espinosa.

Cottages At Tungsten Sold For $560,000.00

Marcus MillichapProperty Name:  Cottages at Tungsten

Buyer (LLC):  N/A

Seller (LLC):  Henderson Apartments LLC and Famid Henderson LLC

Property Description (Tenant, SF, etc.):  The Cottages at Tungsten is an 8-unit, multifamily community located in Henderson, Nevada. The community is located in the heart of downtown Henderson, providing residents easy access to shopping, dining, entertainment, and the city’s core business district

Property Location:   282 Tungsten St, Henderson, NV 89015 -7161

Transaction Value:  $560,000

Agent(s) who represented Buyer:  Marco Walton

Agent(s) who represented Seller:   Marco Walton

Las Haciendas Apartments Sells for $925,000

Marcus MillichapMelvin Morris purchased Las Haciendas Apartments, a 25-unit apartment building built in 1954. Las Haciendas is a single-story, garden-style apartment community located at 2504 N Las Vegas Blvd., in North Las Vegas, Nevada. The community consists of twenty-one studios and four, one-bedroom units. The property sold for $925,000.  Michael LaBar, Michael Shaffner with Marcus & Millichap represented the buyer and Michael LaBar, Michael Shaffner, Marco Walton with Marcus & Millichap represented the seller, Las Haciendas Vegas LLC.

Marcus & Millichap Arranges Sale Of Haren Apartments For Private Investor

M1Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Haren Apartments, a 28-unit apartment property located at 1901 Haren Dr in Henderson, NV. The asset sold for $2,050,000 according to Todd R. Manning, regional manager of the firm’s Las Vegas office.

Michael L. Shaffner and Michael R. LaBar, First Vice Presidents Investments, in Marcus & Millichap’s Las Vegas office, had the exclusive listing to market the property on behalf of the seller, a private investor.

Colliers Las Vegas Keeps The Spring Heat In Full Swing

COMPLETED SALES TRANSACTIONS:

 

501 East Lake Mead ParkwayA sale to Gleiberman Investment Inc. The 320 Garden Style Apartments multifamily property is located in Victory Village Apartments at 501 E. Lake Mead Pkwy. in Henderson. The transaction value was $33,500,000. Tom Naseef, CCIM, SIOR, Garry Cuff, CCIM and Jeff Naseef of Colliers International represented the seller, Victory Village 2004 LLC.

 

 

 

1330 South Valley View BoulevardA sale to Chrystie Street Corp. The approximately 18,147 square foot medical office property is located at 1330 S. Valley View Blvd in Las Vegas. The transaction value was $5,500,000. Andrew Kilduff and Stacy Scheer, CCIM, LEED GA of Colliers International represented the seller, Healthcare Realty Trust Incorporated. Tom Naseef, CCIM, SIOR and Jeff Naseef of Colliers International represented the buyer.

 

 

 

330 East Silverado Ranch BoulevardA sale to Thomas Obata. The approximately 269,636 square foot retail property is located in Speedee Mart, Inc at 330 E. Silverado Ranch Blvd. in Las Vegas. The transaction value was $3,990,000. Dan Gluhaich of Colliers International represented the buyer.

 

 

 

 

6565 East Lake Mead BoulevardA sale to E.J. Polati Trust. The approximately 8,175 square foot retail property is located in Meineke Auto Care at 6565 E. Lake Mead Blvd. in North Las Vegas. The transaction value was $900,000. Brian Fike of Colliers International represented the buyer.

 

 

 

 

Osa Blanca Road and North Tee Pee Lane APN 125 07 716 003A sale to Cox Communications Las Vegas Inc. The approximately 0.94 acre land parcel is located at the corner of Osa Blanca Rd. and N. Tee Pee Ln. (APN: 125-07-716-003) in Las Vegas. The transaction value was $600,000. Robert Torres and Scott Gragson of Colliers International represented the seller, Gragson Buffalo Five.

 

 

 

COMPLETED LEASE TRANSACTIONS:

 

6860 Bermuda RoadA lease Siemens Corporation. The approximately 15,360 square foot office property is located at 6860 Bermuda Rd. in Las Vegas. Ryan Martin, SIOR, Taber Thill, SIOR and Patti Dillon, SIOR of Colliers International represented the lessee.

 

 

 

2711 East Craig RoadA lease to National Auto Tools Inc. The approximately 12,012 square foot industrial property is located in Harsch Craig Commerce Center at 2711 E. Craig Rd., Suite E in North Las Vegas. Mike DeLew, SIOR and Greg Pancirov, SIOR of Colliers International represented the lessee.

 

 

 

 

4280 South Hualapai WayA lease to Icon Salon & Spa. The approximately 7,504 square foot retail property is located in Hualapai Plaza at 4280 S. Hualapai Way, Suite 200 in Las Vegas. Alexia Crowley of Colliers International represented the lessee.

 

 

 

 

585 West Sunset RoadA lease to CPC of Nevada LLC. The approximately 6,475 square foot industrial property is located in Sunset Pointe Industrial Center at 585 W. Sunset Rd. in Henderson. Mike DeLew, SIOR and Greg Pancirov, SIOR of Colliers International represented the lessor, Sunset Pointe Group LLC.

 

 

 

 

365 Pilot Road, Suite BA lease to ECigarette Empire LLC. The approximately 4,693 square foot office property is located in McCarran Commerce Center at 365 Pilot Rd., Suite B in Las Vegas. Mike DeLew, SIOR and Greg Pancirov, SIOR of Colliers International represented the lessor, McCarran Commerce Center LLC.

 

 

 

 

10000 West Charleston BoulevardA lease to Jeffrey Burr. The approximately 3,694 square foot office property is located in Howard Hughes Plaza at 10000 W. Charleston Blvd. in Las Vegas. Ryan Martin, SIOR, Taber Thill, SIOR and Patti Dillon, SIOR of Colliers International represented the lessor, McCarran Center LC.

 

 

 

 

5075 Cameron Street, Suite DA lease to NPL Construction Co. The approximately 3,490 square foot industrial property is located in Cameron Reno Business Park at 5075 Cameron St., Suite H in Las Vegas. Mike DeLew, SIOR and Greg Pancirov, SIOR of Colliers International represented the lessor, Rock Creek Properties LLC.

 

 

 

 

4210 North Lamb Boulevard, Suite 135A lease to Southwestern Construction Inc. The approximately 2,827 square foot industrial property is located in Northpointe Business Center at 4210 N. Lamb Blvd., Suite 135 in Las Vegas. Dean Willmore, SIOR, Chelsy Cardin and Alex Stanisic of Colliers International represented the lessor, FJM Northpointe Associates LLC.

 

 

 

 

3873 E Craig Rd Suite 3-4A lease to Rush Hour Motors Ltd. The approximately 2,385 square foot industrial property is located in Craig Business Center at 3873 E. Craig Rd., Suite 2 in North Las Vegas. Mike DeLew, SIOR and Greg Pancirov, SIOR of Colliers International represented the lessor, T Properties LLC.

 

 

 

 

4590 West Sahara AvenueA lease to BBB Aesthetics LLC. The approximately 1,930 square foot retail property is located in Sahara and Decatur Shops at 4590 W. Sahara Ave. in Las Vegas. David Grant of Colliers International represented the lessor, McLaren Las Vegas LP.

 

 

 

 

2654 West Horizon Ridge Parkway, B-15A lease to Good Call LLC. The approximately 1,200 square foot retail property is located in Horizon Pointe Shopping Center at 2654 W. Horizon Ridge Pkwy., B-15 in Henderson. David Grant of Colliers International represented the lessor, Villa La Paloma.

 

 

 

 

565 College Drive, Suite AA lease to Happy Trails Dog Wash & Grooming. The approximately 1,200 square foot retail property is located in College Square Shopping Center at 565 College Dr., Suite A in Henderson. David Grant of Colliers International represented the lessor, ES & RE Berger Family Trust.

 

 

 

 

5670 Wynn Rd Ste GA lease to American Expediting Company. The approximately 1,075 square foot industrial property is located in Kalb Business Center at 5670 Wynn Rd., Suite F in Las Vegas. Spencer Pinter of Colliers International represented the lessor, Spring Mountain Developers LLC. Mike DeLew, SIOR and Greg Pancirov, SIOR of Colliers International represented the lessee.

 

 

 

 

309 West Lake Mead Parkway, Suite 280A lease to Lawrence Porter. The approximately 650 square foot office property is located at 309 W. Lake Mead Pkwy., Suite 280 in Las Vegas. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the lessor, JEEG Trust.

Northcap Multifamily Announces Sale Of Conejo Villas For $28,500,000

Conejos VillasRobin Willett, Antone Brazill, CCIM, Devin Lee, CCIM, and Jerad Roberts, of Northcap Multifamily, are pleased to announce the recent sale of Conejo Villas Apartment Homes for $28,500,000. This sale consisted of 252 multifamily units, located at 5060 W. Hacienda Avenue in Las Vegas, NV.

This transaction closed on February 28, 2017. Northcap Multifamily represented the Buyer, ACVII-Hacienda, LLC.

Conejo Villas was built in 1999. This unique apartment community offers spacious one & two-bedroom floor plans, including dual master suites for roommate style living, full size washers & dryers, ceiling fans, covered parking, pool with sundeck & spa, as well as a fitness center.

Mission Rock Residential Awarded Property Management of Alicante Apartment Homes

missionMission Rock Residential has been awarded property management of Alicante Apartment Homes in Las Vegas, Nevada on behalf of Hamilton Zanze Real Estate Investments. Las Vegas still continues its late-cycle recovery, with its local economy and housing markets continuing to stabilize.

According to Pat Hutchison, President “Mission Rock Residential continues to build our presence in key markets across the United States. Las Vegas continues to show strength in tourism, has a growing population of young adults, as well as large-scale investment activity on The Strip and downtown. This makes Las Vegas a relatively robust market. We look forward to delivering results at Alicante Apartment Homes.”

The property consists of 232 units and offers one-, two-, and three-bedroom spacious floor plans. Each apartment features a washer and dryer, additional storage, wood-style flooring, and upgraded features such as garden tubs, walk-in closets, and tile and glass backsplash. The community includes well-appointed amenities like the year-round swimming pool and hot tub with cabanas, fitness center with on-demand fitness classes, fire pit, and dog park with washing station.

In addition to the spacious floor plans and elevated amenity package, Mission Rock Residential communities offer a satisfaction guarantee, branded as the “Rock Solid Guarantee”. This includes a 24-hour response to maintenance requests, a 30-day move-in satisfaction guarantee, complimentary lock-out assistance during business hours, and an opportunity to purchase a low-cost renter’s insurance plan with guaranteed pre-approval.

Cushman & Wakefield Commerce Brokers Sale of Portofino Villas in Northwest Las Vegas

Portofino2-3Cushman & Wakefield Commerce announced it has negotiated the sale of Portofino Villas, a 280 unit apartment community at 6300 West Lake Mead Boulevard, Las Vegas. Per Clark County Assessor, Millburn & Company purchased the property from the AXS Opportunity Fund for $26,000,000.

Built in 1997, the Tuscan style villa has an abundance of modern amenities including a resort-like pool and spa, sand volleyball court, fitness center. Each of the 1, 2, and 3 bedroom options include a large private patio or balcony, and renovations are planned to add improvements.

“Portofino Villas has excellent potential for Millburn & Company,” said Carl Sims, Cushman & Wakefield Commerce Executive Director, and lead broker for the buyer. “Nevada boasted one of the fastest growing economies in the nation in 2016, and the multifamily housing market was no exception. Millburn & Company has renovations in mind for the Villas that will be on par with the improving market.”

Carl Sims and Taylor Sims represented the seller.


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