NORTH LAS VEGAS, NV. – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of CVS Ground Lease, a 12,900 square-foot net-leased property located in North Las Vegas, NV, according to Richard A. Bird, regional manager of the firm’s Las Vegas office. The asset sold for $3,800,000.
Ray Germain and Tina D. Taylor, investment specialists 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 buyer, an individual/personal trust, was secured and represented by Don Emas, an investment specialist in Marcus & Millichap’s Ontario office. Richard Bird, Broker of Record, assisted in this transaction.
This CVS Ground Lease is located at 6432 Losee Road in North Las Vegas, NV. According to Taylor and Germain, “The dynamic growth of adding nearly 2,000 jobs in the immediate area is already increasing housing and retail development and pushing population density and retail purchasing power. Furthermore, the property rests on only a portion of the yet to be completed Centennial Village with Phase III slated for completion in 2013. Phase III will add additional retail and office space pushing the already successful businesses of Centennial Village further and further.”
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With more than 1,000 investment professionals in offices nationwide, Marcus & Millichap Real Estate Investment Services is the largest firm specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 6,149 transactions in 2012, the highest of any commercial real estate brokerage firm. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology and relationships with the largest pool of qualified investors nationally.
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