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Category – Retail – North Las Vegas

North Las Vegas Sees $350.00 Per Square Foot Consideration

Crossroads CenterJeff Mitchell & Chris Emanuel of Virtus Commercial and Michael Hackett, Vic Russell & Ryan Gillard of DTZ represented Eagle Crossroads Center 2, LLC in the sale of Crossroads Towne Center, 6436-6592 N. Decatur Boulevard, North Las Vegas, NV 89131, a 148,791 square foot Regional Shopping Center to Cornerstone Capital The total transaction value of the sale was $52,000,000.00.The approximate aggregate value of the transaction is $350.00 per square foot.

Mama Mia Pediatrics renews lease at Cheyenne Pointe

CheyennePointMama Mia Pediatrics renewed their lease for 3,269 square feet of retail space for 120 months at Cheyenne Pointe located at 2315 E. Cheyenne Ave in North Las Vegas. Total consideration was $838,518.36. David Lipp, CCIM of Newmark Grubb Knight Frank represented the lessee in the transaction. Trisha Trcka of Sarofim Realty Advisors represented the lessor, Cheyenne Pointe Holding, LLC, in the transaction. The reported average rent equals $2.14 per square foot.

Ann Decatur Marketplace Trades For $295/SF

ann decatur marketplaceJAS Properties LLC purchased the +/- 24,169 square foot multi-tenant Smith’s shadow anchored shopping center at Ann Decatur Marketplace located at 4780 W. Ann Rd in North Las Vegas for $7,130,000.  The Investment Services Group of Sun Commercial (Roy Fritz, Cathy Jones, Paul Miachika, Jessica Cegavske, Riley Foley) represented the seller, Decatur Crossing LLC.  The property traded for $295/SF.

Viva La Vapor signs 5 year deal at Desert Oaks Plaza

Desert Oaks PlazaViva Las Vapor signed a 60-month $251,880 lease for 2,720 square feet of retail space at Desert Oaks Plaza located at 3930 W Craig Rd, suite #101 in North Las Vegas. Bill Bowles with Century 21 Martinez & Associates represented the lessee and Jim Hill with ROI Commercial Real Estate represented the lessor.  The reported average rent equals $1.54 per square foot.

Alexander Square LLC Buys 3940 N Martin Luther King for $2,470,000

3940-N-Martin-Luther-KingAlexander Square LLC purchased the approximately 34,282 square-foot retail property and approximately 10,500 square-foot self-storage facility located at 3940 N. Martin Luther King Blvd. in North Las Vegas. The transaction value was $2,470,000. David Grant, Grant Traub, and Chris Connell of Colliers International represented the seller, Clark County Credit Union.

PDQ restaurant chain opening its first Nevada location this Sunday in North Las Vegas

NORTH LAS VEGAS, Nevada – If you’re craving critically acclaimed chicken, served fast, fresh and with health-conscious choices, prepare to be satisfied at PDQ. PDQ, a rapidly growing restaurant chain known for its fresh but affordable chicken tenders, salads and sandwiches, makes its first foray into Nevada when it opens its restaurant at 3737 W. Craig Road on Sunday, March 15.

PDQ, which stands for People Dedicated to Quality, features a “fast casual” concept and specializes in fresh food served quickly in a family-friendly atmosphere. Its new restaurant in North Las Vegas will be PDQ’s first location west of Texas and its 39th nationwide.  At PDQ, food is made to order from ingredients so fresh that the restaurant has no need for freezers or microwave ovens.

“We want our guests to have a wonderful experience, from the first tender bite of fresh chicken dipped in house-made sauces, down to the last sip of our hand-spun milkshakes,” said Tony Grappo, a longtime Las Vegan and Nevada market director for PDQ. “We’re so committed to serving delicious and healthy meals that we enjoy cooking in open kitchens that allow our guests to see how we prepare the food from start to finish.”

PDQ has numerous locations in seven states, from North Carolina and South Carolina to Alabama, Florida, Georgia and Texas and has now brought its brand to Nevada. A second location is slated to open this summer on West Sahara Avenue, just west of Interstate 15. PDQ co-founders include Bob Basham, a principal owner who was also a co-founder of Outback Steakhouse, and Nick Reader, a former CFO of the Tampa Bay Buccaneers. “Southern Nevada is a great market for what we do at PDQ. We think there’s a tremendous appetite here for a fresh and healthy alternative,” Basham said.

While many are drawn to PDQ’s famous crispy tenders, the menu features a variety of options that cater to just about everyone’s palate. The high-quality fresh chicken, which comes in tender meals, sandwiches and salads, can also be grilled, and fresh turkey can be substituted for chicken. The hand-tossed salads are made with fresh produce and can be paired with seven homemade salad dressings. Fresh-cut fries are made in-house every day from fresh potatoes.

PDQ’s restaurant in North Las Vegas will have more than 4,000 square feet, more than 120 seats and a drive-through window. Its hours are 10:30 a.m. to 10 p.m. seven days a week.  PDQ is founded on high-quality food, attentive customer service and genuine hospitality in a friendly atmosphere. For more information, visit www.eatPDQ.com or call (702) 410-6747.

 

About PDQ:

Outback Steakhouse co-founder Bob Basham and MVP Holdings CEO Nick Reader are the two principal owners of PDQ. The partners spent more than two years developing the concept behind the brand and quality of the food and establishments. On Oct. 30, 2011, the original PDQ restaurant opened its doors, and the concept now has 39 locations throughout Alabama, Florida, Georgia, Nevada, North Carolina, South Carolina and Texas. PDQ prides itself on delicious sandwiches and salads made with the finest ingredients and their signature sauces and dressings are homemade every day. Restaurant Business Magazine recently named PDQ as the #1 fastest growing small chain in America, Nation’s Restaurant News chose PDQ as a 2014 Hot Concepts recipient and QSR Magazine named PDQ its July 2014 One to Watch. All menu items are under $10 and combo meals start as low as $7.69. PDQ will be open for lunch and dinner seven days a week with dine-in seating and a drive-through. Catering is also available for events and carryout. For more information, visit www.eatPDQ.com.

 

Celebrations Signs 3 Year Lease at Simmons Centre

 

Simmons CentreCelebrations A Party Store, LLC signed a 3-year (36 Month) lease for 1,200 square feet of retail space with a transaction value of $49,680.00 at the Simmons Centre, 3030 W Ann Road, Suite 108, North LasVegas, NV 89301. Virtus Commercial’s Jakke Farley and Jeff Mitchell represented the lessor, Simmons Centre, LLC…while DRSS Real Estate Services represented the tenant.  The reported average rent equals $1.13 per square foot.

 

Report: Retail Absorption Increases in 2014

LV Retail Market Sees Strong Third QuarterSouthern Nevada’s retail market saw 192,581 square feet of net absorption for 2014, an improvement over the prior year despite some shakiness, reports Matt Stater, research manager for Colliers International Las Vegas. Meanwhile, vacancy increased to 9.5%, which is 0.3% higher than in 2013 partly due to more retail construction. There was 343,313 square feet of new projects completed in 2014, compared to a meager 8,000 square feet of new retail construction the year prior. “If 2014 was the test for speculative retail development in Southern Nevada, it remains hard to say whether we passed or failed – maybe a solid ‘C,’” said Stater. “Nevertheless, more construction is on the way in 2015.” For more information, CLICK HERE.


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