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Category – Retail

G2 Capital Development Acquires Campus Village

campusvillageLas Vegas-based G2 Capital Development, a privatelyowned commercial real estate development company, is pleased to announce its newest acquisition along the Maryland Parkway corridor. Campus Village, consisting of approximately 3 acres of land with two buildings totaling +/-39,185 SF of space at the northeast corner of Maryland Parkway and Harmon Ave., is now a part of G2 Capital Development’s real estate portfolio.

“We are excited to have purchased Campus Village, and look forward to continuing to operate the property, as well as evaluating potential redevelopment opportunities,” said Frank Marretti, Founder and Owner of G2 Capital Development. “Our commitment to the Maryland Parkway corridor is stronger than ever.”

Campus Village is a commercial center consisting of a mix of retail and office tenants. Built in the late 1970s, the property consists of one two-story building with frontage along Maryland Parkway and adjacent to UNLV, and one single-story building set back to the east along Harmon Avenue. Tenants at Campus Village offer a host of different services to UNLV students, as well as to local residents, including food services, salon services, and other retail shops.

Campus Village is the third major investment in property along Maryland Parkway for G2 Capital Development. Just south of Campus Village , the University Gateway project is about to begin its final phase of construction with an 8-story mixed-use building consisting of retail, office and luxury apartment units, containing approximately +/-180,000sf. Construction on this $60+ million dollar project is expected to begin within the next few weeks. Earlier this year, G2 Capital Development entered into agreements to re-develop a 4+ acre site just north of Campus Village as well as completing Phase I of the University Gateway project by constructing and delivering a seven-story parking garage with approximately 820 parking spaces and 10,000 square feet of office space to be used for a UNLV police substation.

Virtus Commercial Deals Of Note – Office And Retail Leasing Activity

green Valley townLas Vegas Made, LLC has leased approximately 7,641 SF of retail space at Green Valley Town Center III, located at 4300 E. Sunset Rd. Ste. A-1, in Henderson.  Brett S. Beck of Virtus Commercial represented the Lessor, Henderson Town Center LLC., and Brad S. Winston of Award Realty Corp. represented the Lessee.

 

 

 

 

 

 

 

639 e brooksPride Communications, Inc. has leased approximately 6,000 SF of industrial space located at 639 E. Brooks Ave. Ste. 206-207, in N. Las Vegas. Matt Feustel of Virtus Commercial represented the Lessee and Jason Simon of JLL represented the Lessor, HIC Trident, LLC.

 

 

 

 

 

1785 e sahara1Precise Business Management, LLC has leased approximately 749 SF of office space at The 1785 Office Center, located at 1785 E. Sahara Ave. Ste. 350, in Las Vegas.  Chris Emanuel of Virtus Commercial represented the Lessor, The 1785 Office Center, LLC.

 

 

 

 

 

 

955 w craigPlatinum Hair Salon has renewed their lease for the 1,750 SF of retail space at Revere Marketplace, located at 955 W. Craig Rd. Ste. 101B, in N. Las Vegas.  Chris Emanuel of Virtus Commercial represented the Lessor, Las Vegas Adventure, LLC.

 

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.”

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.

Recent Virtus Commercial Transactions

img_Southforke Pointe_9975 S EasternGameStop, Inc has renewed their lease for the 1,023 SF retail space at Southforke Pointe, located at 9975 S. Eastern Ave. Ste. 125, in Henderson.  Chris Emanuel of Virtus Commercial represented the Lessor, SAAC, LLC.
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img_Desert Inn Plaza_3242 E Desert Inn RdMaria Luz Garcia & Danilo Francisco Diaz Cortina has leased approximately 800 SF of retail space at Desert Inn Plaza, located at 3242 E. Desert Inn Rd. Ste. 6, in Las Vegas.  Brett S. Beck of Virtus Commercial represented the Lessor, Desert Inn Square, and Gary S. Beck of Virtus Commercial represented the Lessee.   Paula Rainey has leased approximately 800 SF of retail space at Desert Inn Plaza, located at 3242 E. Desert Inn Rd. Ste. 12, in Las Vegas.  Brett S. Beck of Virtus Commercial represented the Lessor, Desert Inn Square, and Gary S. Beck of Virtus Commercial represented the Lessee.

 

 

 
img_Green Valley Town Center II_4500 E Sunset RdDivine Wellness, LLC has leased approximately 1,510 SF of retail space at Green Valley Town Center II, located at 4500 E. Sunset Rd. Ste. 4, in Henderson.  Brett S. Beck of Virtus Commercial represented the Lessor, Henderson Town Center LLC, and Gary S. Beck represented the Lessee.

 

 

 

 

 

img_Stewart Square_235 N EasternJuan Kuraica & Juan Antonio Gauthereau has leased approximately 1,200 SF of retail space at Stewart Square, located at 235 N. Eastern Ave. Ste. 110, in Las Vegas.  Matt Feustel of Virtus Commercial represented the Lessor, The Miller Trust Dated 11/30/1999; Care Holdings, LLC; LMGP 1, LLC.

 

 

 

 

 

img_Stewart Square_235 N EasternMelissa Gamboa has leased approximately 1,200 SF of retail space at Stewart Square, located at 235 N. Eastern Ave. Ste. 106, in Las Vegas.  Matt Feustel of Virtus Commercial represented the Lessor, The Miller Trust Dated 11/30/1999; Care Holdings, LLC; LMGP 1, LLC and Christian Terry of Virtus Commercial represented the Lessee.

 

 

 

 

img_Sunridge Village Plaza_10960 S EasternGrowingone Inc. has leased approximately 1,200 SF of retail space at Sunridge Village Plaza, located at 10960 S. Eastern Ave. Ste. 110, in Henderson.  Brett S. Beck of Virtus Commercial represented the Lessor, Kwang Ha LLC, and Kumiko Toyoda of TR Realty represents the Lessee

 

 

 

 

 

img_5770 S Valley ViewClearlake Holdings has leased approximately 5,966 SF of office space located at 5770 S Valley View Blvd. Building B, in Las Vegas.  Matt Feustel of Virtus Commercial represented the Lessor, DDZ, LLC and Brad Winston of Award Realty represented the Lessee

Monte Village Shopping Center, LLC Signs Long Term Retail Lease – Avison Young

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AVLiz Clare, CCIM and Jacqueline Young of Avison Young represented the landlord, Monterey Vista Village Shopping Center, LLC in the 126 month retail lease located at 3555 South Fort Apache in Las Vegas, Nevada.  Cory Argubright of Dunbar Commercial represented the tenant, 9 Rounds.  The total value of the transaction was $253,008.00.


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