Dollar Tree Stores, Inc leased 14,180 square feet of retail space for 84 months at 265 W. Centennial Pkwy, from Centennial Commerce, LLC. Total consideration was $1,047,193.00. Michael Zobrist and Nelson Tressler of Newmark Grubb Knight Frank represented the lessor in the transaction.
Category – Retail – North Las Vegas
Lauren Tabeek, CCIM, of Cushman & Wakefield/Commerce, represented the seller, RREF II-KI Promenade, LLC in the selling of Craig Promenade, a retail building located at 785 W. Craig Rd., North Las Vegas, NV 89032. The type of property is a Sinclair gas station and convenience store. The transaction was valued at $2,300,000. Les Eisinga of Northcap Commercial represented the buyer, Virat, LLC.
John Blommer of Virtus Commercial represented Moses Revocable Trust (Seller) in the sale of a 3,198 SF single-tenant Carl’s Jr. located at 607 W. Craig Road, North Las Vegas. POWER A Z L L C purchased the property for $2.8 million. The CAP rate at close was 5.8% on current income. The 25 day total escrow, all-cash transaction closed 5/2/2016.
Richmond Properties LLC purchased a brand new single tenant Dairy Queen property located at 2535 W. Deer Springs Road, North Las Vegas. The purchase price was $1,485,714. The Berg Team who represented the buyer, thanks J Dapper, Andrea Catalano, and Scott Silver for a successful closing. The Seller was Ten 15 Aliante, LLC.
NV Network Insurance signed a 38-month $50,400 lease for 900 square feet of retail space at The Grove located at 445 W. Craig Road, Suite 104, in North Las Vegas. Alma Catalan with Desert Vision Realty represented the lessee and Jakke Farley with Virtus Commercial represented the lessor, High Valley VI, LLC. The reported average rent equals $1.47 per square foot.
S & S Enterprises (Smoke Shop) signed a 40-month $80,104.12 lease for 1,324 square feet of retail space at Cheyenne Pointe located at 2235 E. Cheyenne Avenue, Suite D-140, in North Las Vegas. Maha Madanat with Century 21 represented the lessee and Andrew Fehrman and Jeff Mitchell with Virtus Commercial represented the lessor, Medford Capital, LLC c/o RA Centers. The reported average rent equals $1.51 per square foot.
The Berg Team with Sperry Van Ness represented the buyer, Dumitru Anita, in purchasing 2535 W Craig Road in North Las Vegas for $990,000, or $130 PSF. The property is 7,640 SF and was 80% occupied at close of escrow.
Vent Blotique signed a 60 month $262,885 lease for 1,421 square feet of retail space at the Shops at Summerlin North and a lease at 655 S. Green Valley Parkway, suite A-2 in Henderson for 1,200 square feet of retail space for $204,000 spanning 60 months. Chris Richardson and Jason Otter with Logic Commercial represented the lessee. The rates were reported at $3.08/SF and $2.83/SF respectively.
Jakke Farley of Virtus Commercial represented Tiabi, LLC in the lease of 1,100 square feet of retail space at the Centennial Plaza, 6320 Simmons Street, North Las Vegas, NV 89041. The tenant will occupy Suite 135. Jim Hill of ROI Commercial Real Estate represented the landlord Bridge 33 Properties V, LLC. The total transaction value of this 60 month lease is $95,893.
The approximate aggregate value of the transaction is $1.45 per square foot.
Jakke Farley and Jeffrey Mitchell of Virtus Commercial represented Simmons Centre, LLC in the new lease of 1,225 square feet of retail space at Simmons Centre, 3000 W. Ann Road, North Las Vegas, NV 89031. The tenant, 2 The Deals (Cota, LLC), will occupy Suite 102 for a period of 62 Months. The total transaction value of this lease is $88,332.
The approximate aggregate value of the transaction is $1.16 per square foot.