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Category – Retail – Henderson

Henderson Restaurant Property Sells For $1,050,000 – Marcus & Millichap

SerranosMarcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Serrano’s Mexican Grill, a 2,574-square foot net-leased property located at 4425 East Sunset Road in Henderson, NV.  The asset sold for $1,050,000, according to Todd R. Manning, regional manager of the firm’s Las Vegas office.

Dustin R. Alvino, 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 family trust. The buyer was Madoc LLC, a Nevada limited liability company..

CBRE Completes $16.2 Million Sale of Eastern Marketplace Portfolio in Henderson

thumbnailCBRE has completed the sale of a six-property retail portfolio in Henderson, Nevada. Dubbed the Eastern Marketplace Portfolio the asset commanded a sale price of $16.2 million. A team of CBRE brokers including Alex Kozakov, Patrick Wade and Matt Bear negotiated the transaction. The buyer was 3D Investments, LLC of Beverly Hills, Calif. The seller was Las Vegas, Nev.-based Eastern Marketplace Pads, LLC.

“The sale represents continued demand for credit tenant, net-leased assets,” said Mr. Kozakov. “Southern California trade buyers continue to aggressively pursue out-of-state assets paying a premium for “best-in-class” product, which was illustrated with this sale.”

The Eastern Marketplace Portfolio was comprised of six pads within the Eastern Marketplace shopping center located at the southeast corner of Eastern Avenue and St. Rose Parkway in Henderson, Nevada. The pads included five freestanding properties including, Tide Dry Cleaners, Chili’s, Wells Fargo, McDonald’s, Carrabba’s and Rebel Oil.

The property benefits from strong area demographics, including an average household income of more than $78,000 within one mile of the property, and high traffic counts on Eastern Avenue and St. Rose Parkway, which see 48,000 and 34,000 vehicles per day each, respectively. Additionally, Dignity Health’s St. Rose Dominican Hospital, which employees 4,000 people, is located directly across the street.

Crossroads Center Renews Two Tenants


img_DSCF6134Academy of America Kenpo Karate Inc. leased approximately 1,872 square feet of retail space at Crossroads Center located at 650 E. Horizon Drive, Suite 11 in Henderson.  Chris Emanuel and Vanesa Werme of Virtus Commercial represented the lessor, Crossroads Center Management Company, and the lessee.

Jamal Sarioul Smoke Shop leased approximately 1,040 square feet of retail space at Crossroads Center located at 650 E. Horizon Drive, Suite 3 in Henderson.  Chris Emanuel and Vanesa Werme of Virtus Commercial represented the lessor, Crossroads Center Management Company, and the lessee.

 

 

 

 

 

New Concept Retail Grocer Opens In Lake Las Vegas

The new Seasons Market has opened in MonteLago Village at Lake Las Vegas.  The official opening of the 5,000-square-foot, neighborhood grocery store was marked by a ribbon-cutting event today and responsiveness from Lake Las Vegas developer Raintree Investment Corporation in bringing back a food and coffee shop to the residential, golf and resort master planned community.

“Our residents requested that we add a grocery store at Lake Las Vegas, and we are excited to open Seasons Market for them and other guests to Lake Las Vegas,” said Patrick Parker, Raintree Investment Corporation President, noting the nearest supermarket is about four miles away. “In addition to shopping, Seasons will be ‘experiential’ where you’ll enjoy wine and product tastings and sit to have a cup of coffee or sandwich – all with a tableside view of our beautiful lake.”

Participating in the ribbon-cutting ceremony in front of the market were: Henderson Mayor Andy Hafen and Councilwomen Geri Schroder and Debra March; Steve Muelrath, Henderson Chamber of Commerce executive director; Karl Hanson, MonteLago Village Association; and Patrick Parker, Cody Winterton and Doug McPhail, Lake Las Vegas.

Seasons Market features fresh produce, meat and fish; artesian bread and pastries from Water Street District’s Flemming’s Bakery; gourmet cheese; barista station with Peet’s Coffee and Italy’s Danesi Espresso; fine wine selection; Red Button Ice Cream; gourmet chocolates from JinJu Chocolates; JoJo’s Jerky and steaks; sandwich counter; newspapers and magazines; gift items; and more.

“The market is designed to be reminiscent of a ‘bodega’ or big city neighborhood market where you can find what you’re looking for, try new products that ordinarily wouldn’t be available in a traditional grocery store, and be greeted by friendly staff and regular shoppers on a first-name basis,” said Parker, adding there is seating inside Seasons Market and on the floating park on the lake.

Recent Virtus Commercial Transactions

72horizonRoberto’s Taco Shop, LLC  leased 2,397 SF of retail space at Black Mountain Marketplace located 72 W. Horizon Ridge Parkway, Suite 150/155, in Henderson. Chris Emanuel with Virtus Commercial represented the landlord, Blk Mtn 1 & Blk Mtn 2.

 

 

 

 

4825apache_sBoca Do Brasil, LLC renewed 1,400 SF of retail space at Desert Palms Plaza located at 4825 S. Fort Apache Road, Suite H, in Las Vegas. Chris Emanuel with Virtus Commercial represented the landlord, The Hamid and Christine Ravan Revocable Living Trust.

 

 

 

72horizonTechnoscribe, LLC & Rodolfo Janeo, L renewed 2,000 SF of retail space at Black Mountain Marketplace located at 72 W. Horizon Ridge Parkway, Suite 100, in Henderson. Chris Emanuel with Virtus Commercial represented the landlord, Blk Mtn 1 & Blk Mtn 2.

 

 

Las Pupusas Restaurant Leases At 1540 W. Sunset In Henderson

Newmark1 logoNelson Tressler and Michael Zobrist of Newmark Grubb Knight Frank represented Las Pupusas Restaurants, LLC in the lease of 2,164 square feet of retail space at 1540 W. Sunset Rd., Henderson, NV 89014. The tenant will occupy Suite 130. The total transaction value of this 96 month lease is $531,107.28. Christina Strickland-Bonifatto of CBRE represented the lessor, Sunstone Bonita, LLC in the transaction.

The approximate aggregate value of the transaction is $2.56 per square foot.

City Sunstone Properties revitalizing area with Galleria Marketplace

City Sunstone Properties, a Las Vegas-based commercial real estate investment company, has completed phase one of the $8 million Galleria Marketplace, a retail center at 1540 Sunset Drive, transforming 30-year-old garden offices into a vibrant retail center.

A 4,571-square-foot P.T’s Gold is expected to open by April along with a 2,164-square-foot Las Pupusas restaurant, which is moving its Henderson location at Stephanie and Sunset to be in Galleria Marketplace’s first phase.

Galleria MarketCity Sunstone principal Rodney Atamian said the project will transform previously idle offices into an attractive new shopping hub. The space will suit restaurants, service retail and other businesses, and it’s where the action is — by Sunset Station, the Galleria at Sunset mall and a vibrant retail corridor.

CBRE’s Matt Bear and Christina Strickland-Bonifatto, who are handling the leasing, said they are talking to a variety of retailers, service businesses, medical facilities, community service businesses and restaurants with interest in the space.

“City Sunstone’s Galleria Marketplace project is a vote of confidence for the economy,” said Matt Bear, vice president of CBRE. “This area has been the center of Henderson for 20 years. It’s an opportunity to uncover the potential of this real estate.”

Bentar Construction has completed the first of three phases.  The Galleria Marketplace project will create approximately 150 construction jobs and roughly 28 permanent jobs.

Work on the second phase of construction is now underway with the   demolition of another vacant office building on the east side of the property.  Anthony Young with Avaruus Studios is the project architect.

Bear and Strickland-Bonifatto said the new development also fits into the Galleria trade’s area retail hub. It features pad spaces  to suit a variety of shops or a stand-alone restaurant, excellent street-front visibility, ample parking and easy movement in or out from Sunset Road or Whitney Ranch Drive.

There is also a pad for a drive-through, which would be ideal for a coffee user or similar retailer,  Bear said. Nearness to the Galleria at Sunset mall and other shops puts the project in an ideal location for retail customers, Strickland-Bonifatto added.

Sunset Plaza In Henderson Sells For $277 PSF

CBRE New Logo 2016CBRE announces today the sale of the Sunset Plaza located at 1000-1152 W. Sunset Road, Henderson, NV 89014. Charles Moore, CSM, Marlene Fujita Winkel, CCIM and M. Laura Hart of CBRE’s Las Vegas office represented the seller, SunLife Assurance Co., in the $9,500,00 transaction encompassing 34,244 square feet. The buyer, J3 Generations ,LLC, was represented by Brendan Keating and Sean Margulis of Logic. The approximate aggregate value of the transaction is $277.42 per square foot.

The shopping center is located near other prominent retail outlets including the Galleria Mall and Union Village and is adjacent to U.S. 95.  According to Fujita-Winkel, there has been significant activity in the Henderson submarket that is driving investor interest in the area, especially for properties like Sunset Plaza in established retail corridors with adjacent freeway access.

 


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