4550 Karen Ave.
Las Vegas, NV 89121
Buyer: All Pro Real Estate, LLC
Seller: View Equity, LP
Seller Broker: Patrick Sauter & Art Carll-Tangora, NAI Vegas
Scannell Properties a privately owned real estate development and investment company focused on build-to-suit and speculative development projects throughout the U.S. and Canada announced today that it reached a construction milestone with the pouring of the concrete slab and preparation of wall panels for its 338,520 SF industrial facility at 3910 Alto Ave. near Cheyenne Ave. and Walnut Road. The building will be completed in August of this year.
“We’re excited seeing the progress Arco Construction has made and appreciate our new relationship with Clark County,” said Daniel Madrigal, Development Manager, Scannell Properties Minneapolis Office. “North Las Vegas is an ideal location for growing companies looking for efficient western operations. Its two-day delivery time to major markets, access to labor, and Nevada’s competitive tax abatement programs makes it prime real estate for distribution or manufacturing facilities.”
Lincoln Business Center will feature 32-foot clear height, 70 trailer parking spaces, 62 dock doors and 4 drive in doors. The facility is ideal for manufacturing, distribution, and warehouse operations. Lincoln Business Center is suitable for one or multiple tenants. The Larkin Industrial Group at NAI Vegas has been retained by Scannell Properties to market the property for lease.
“Scannell Properties has a reputation for delivering state-of-the-art facilities for many well-known users nationally. This building will be built with the same expectations demanded by similar corporate users with regard to both functionality and aesthetics. ,” said Eric J. Larkin, CCIM Partner at NAI Vegas and lead broker with the Larkin Industrial Group.
Pulmonary Solutions purchased Cumorah Center Building, a 6,283 SF office property located at 7660 W. Sahara Ave., in Las Vegas for $1,187,000 or $188.92/SF. The Larkin Group, NAI Vegas represented the buyer and Bryan Houser with Albright Callister & Associates represented the seller, Golden View Development.
Creative Light Source leased 5,099 SF of industrial space located at 4150 N. Lamb Blvd., in Las Vegas. The total consideration was $66,162.12. The Larkin Team, NAI Vegas represented the lessee and Colliers International represented the lessor, FJM Northpointe Associates, LLC.
Luzon Entertainment, LLC leased 11,615 SF of industrial space located at 711 Pilot Rd., in Las Vegas. The total consideration was $647,991.24. The Larkin Team, NAI Vegas represented the lessee and CBRE represented the lessor, Hughes Airport Realty Owner, LLC.
VM Innovations, Inc leased industrial units 13-16 at 2875 N. Lamb Blvd., in Las Vegas. The total consideration was $329,041. The Larkin Team, NAI Vegas represented the lessee. The lessor was Prologis, LP.
Seattle DIV Holdings LLC purchased Sun West Plaza II, a 16,183 SF multi-tenant property located at 2626 S. Rainbow Boulevard in Las Vegas for $1,600,000 or $99.86/SF. Mike McLeod with Albright Callister represented the buyer and The Larkin Team with NAI Vegas represented the seller, America First Credit Union.
Exhibit Options purchased the 20,028 SF Northern Beltway Industrial Center, Buildings 7/8 C, located at 5470 El Campo Road in Las Vegas for $1,962,744 or $98/SF. The Larkin Team with NAI Vegas represented the buyer and the Jake & Kevin Higgins with CBRE represented the seller, Thomas & Mack Development.
Alexander Properties LTD purchased a 2,332 SF office condo (units 105 & 110) of the Alexander Commons located at 5715 W. Alexander Drive in Las Vegas for $209,880 ($90.00/SF). The Larkin Team of NAI Vegas represented the buyer and the seller, Wells Fargo Bank.
The Bascom Group purchased the 90 unit Pebble Cove Apartments, located at 5101 O’Bannon Drive in Las Vegas. The 100% occupied property sold for $9,100,000 ($101,111 per unit) and at a 6% CAP. Patrick Sauter and Art Carll with NAI Vegas’ Sauter Multifamily Group represented the seller, Pebble Cove LLC.
The Bascom Group purchased the 252 Unit Spectrum Apartments located at 9242 W. Russell Road in Las Vegas. Built in 2010, the property sold for $38,350,000 ($152,183/unit) and sold at a 5.2% CAP. Patrick Sauter and Art Carll of NAI Vegas’ Sauter Multifamily Group represented the seller, Tilden-Spetrum LLC.
NAI Vegas’ Sauter Multifamily Group announced the sale of Sonoma Shadows (376 units) and Pine Hills Lodge (376 units) apartment portfolio located at 1750 & 1500 Karen Avenue in Las Vegas for $45,496,000 ($60,500 per unit).
NAI Vegas’ Sauter Multifamily Group announced the sale of the 240 unit Majestic Heights Apartments located at 5325 E. Tropicana Avenue in Las Vegas to Aspen Square Management, Inc. Built in 1990, the 94% occupied property closed for $18,600,000 ($77,500/unit) on a 5.51% CAP. Art Carll and Patrick Sauter represented the seller, Majestic Heights Owner, LLC.