Nevada Real Estate & Development Report: August 2013

Mountain View Hospital

Mountain View Hospital

Projects

Las Vegas, 89128
Hospital
Mountain View Hospital has completed construction on the second phase of an emergency room expansion project. The expanded emergency room doubled the size of the previous space and will now house 42 private beds for patients. The expansion provided a “Fast Track” Care and Triage area to quickly assess patients by triage nurses. Construction on the project cost $70 million to complete. Layton Construction served as builder for the project. Following the ER expansion, the hospital also plans to renovate the lobby and admitting/registration areas. The hospital is located at 3100 N. Tenaya Way.

Reno, 89512
Non-Profit
United Construction Company has begun construction on the William N. Pennington facility for the Boys & Girls Club of Truckee Meadows. Upon completion, membership at the two-story, 55,000 SF facility is expected to increase by 27 percent which will benefit over 3,000 youths in southwest Reno. The project calls for a full gymnasium, commercial kitchen, multi-use classrooms, non-profit collaboration space and youth centers. Construction for the Pennington Facility has been primarily funded by local foundations and businesses. The sub-contractors serving on the project have donated their time and materials. Architectural Design Group of Sparks serves as architect of record. The project is expected to be completed early in Q2 of 2014 in preparation for a grand opening in May. The center is located at 2680 E. 9th Street.

Henderson, 89052
Office
Stable Development has broken ground on a 47,000 SF office headquarters for Prudential Americana Group and its parent company Americana Holdings. Upon completion, the building will feature energy efficient elements. The facility will be home to 500 real estate sales executives, employees and parent company staff members. The project is slated for completion in November. The office building will be located at the intersection of Seven Hills Drive and Horizon Ridge Parkway.

Eldorado Hotel Casino

Eldorado Hotel Casino

Reno, 89501
Hotel
Eldorado Hotel Casino has allocated $1.3 million to complete phase one of room renovations on the property. The 217 remodeled rooms will receive several upgrades including new lighting and furniture. MBA Architecture & Interior Design will serve as contractor of the renovations. Construction is expected to be complete in mid-October and the second phase of renovations will begin in early 2014. The hotel and casino is located at 345 N. Virginia Street.

Sales

Las Vegas, 89129
Office
CSN Holdings, LLC purchased 10,720 SF from FFPW Medical Dev, LLC for $782,560 or $73 PSF. The buyer was represented by Jared Bergquist of New Growth Commercial Real Estate and the seller was represented by Laramie Bracken of Gatski Commercial. The property is located at 9050 W. Cheyenne Avenue.
APN # 138-08-417-013

Reno, 89502
Office
Commercial Owner LLC purchased 8,960 SF from NRES-NV1 LLC for $1,046,092 or $117 PSF. The property is located at 6770 S. McCarran Boulevard.
APN # 040-880-20

North Las Vegas, 89032
Retail
Fantasy Cakes & Pies Unlimited purchased 7,500 SF from California Coast Credit Union for $600,000 or $80 PSF. The buyer was represented by Jarrad Katz, CCIM and Galit Kimerling of MDL Group and the seller was represented by Nelson Tresslor and Michael Zobrist of Newmark, Grubb, Knight, Frank. The property is located at 2465 W. Craig Road.
APN # 139-05-716-006

Henderson, 89074
Retail
Roxbury Advisors LLC purchased 105,132 SF from Geddes Diversified LLC for $8,575,000 or $82 PSF. The buyer was represented by Pooya Dayanim of Pooya Dayanim & Associates and the seller was represented by David Grant and Phillip Dunning, CCIM of Colliers International. The property is located at 205-245 N. Stephanie Street.
APN # 178-09-811-003

Las Vegas, 89103
Retail
The Present Family Legacy Trust purchased 5,700 SF from Allan L. Dahle Trust for $1,450,000 or $254 PSF. The buyer was represented by Lisa Anderson of MDL Group and the seller was represented by Chris Hatch and Rob Sweeney of Virtus Commercial. The property is located at 4615 W. Flamingo Road.
APN # 162-19-101-025

Las Vegas, 89104
Retail
Zelzah Shrine Temple purchased 16,500 SF from City National Bank for $675,000 or $41 PSF. The buyer was represented by Daniel Kelly of Access Realty LLC and the seller was represented by Cathy Jones, CCIM and Paul Miachika of Sun Commercial Real Estate. The property is located at 2301-2327 S. Eastern Avenue.
APN # 162-01-401-003

Henderson, 89074
Industrial
Miller Living Trust purchased 8,764 SF from Boreal LLC for $620,000 or $71 PSF. The buyer was represented by Todd Boyer of ROI Commercial Real Estate and the seller was represented by Dan Doherty, SIOR and Chris Lane of Colliers International. The property is located at 96 Corporate Park Drive.
APN # 178-15-611-038

Las Vegas, 89103
Industrial
Shu Yen, LLC purchased 43,632 SF from MCA Arville LLC for $2,027,212 or $46 PSF. The buyer was represented by Garrett Toft of Voit Commercial and the seller was represented by Tim Behrendt of MDL Group. The property is located at 4440 Arville Street.
APN # 162-19-601-011

Leases

Henderson, 89074
Office
Pueblo Medical Imaging leased 6,484 SF from Parkway Medical LLC for $1,877,118 on a 10-year lease. The landlord was represented by Barton Hyde and Brandon McCool of Avison Young. The property is located at 100 N. Green Valley Parkway. Reported monthly rent is $2.41 PSF.

Las Vegas, 89101
Office
Westar Architectural Group/Nevada, Inc. leased 6,375 SF from B&R Receivership, LLC for $906,130 on a 35-month lease. The tenant was represented by Richard Truesdell of Cornerstone Company and the landlord was represented by Rob Lujan and Jason Simon of Gatski Commercial. The property is located at 400 S. 4th street. Reported monthly rent is $4.06 PSF.

Las Vegas, 89120
Office
Summit Partners LLC leased 6,270 SF from JCRCLLC Post for $139,194 on a three-year lease. The landlord was represented by Lisa Hauger and Tim Behrendt of MDL Group. The property is located at 3070 E. Post Road #100. Reported monthly rent is $0.62 PSF.

Henderson, 89014
Retail
Nevada Tire Holdings, LLC leased 5,700 SF from Sunset CV, LLC for $561,599 on a 63-month lease. The tenant was represented by Scot Marker of Colliers International and the landlord was represented by Rob Lujan and Jason Simon of Gatski Commercial. The property is located at 4501 E. Sunset Road. Reported monthly rent is $1.56 PSF.

Las Vegas, 89147
Retail
The Original Pancake House leased 4,990 SF from CML-NV Fort AR, LLC for $331,157 on a ten-year lease. The landlord was represented by Nick Barber and Jeremy Foley of Gatski Commercial. The property is located at 4170 S. Fort Apache Road. Reported monthly rent is $0.55 PSF.

Henderson, 89014
Industrial
Global Nutrition Group leased 32,563 SF from Harsch Investment Properties for $401,234 on a 39-month lease. The tenant was represented by James Dionne of Dionne Partners and the landlord was represented by Greg Pancirov, SIOR and Mike DeLew, SIOR of Colliers International. The property is located at 880 Wigwam Parkway, Suite 130. Reported monthly rent is $0.32 PSF.

North Las Vegas, 89030
Industrial
WestDeck Concrete Coating leased 6,162 SF from Synergy Properties Inc. for $90,035 on a 39-month lease. The landlord was represented by Chris Connell of Colliers International. The property is located at 15 W. Brooks Avenue. Reported monthly rent is $037 PSF.

Las Vegas, 89109
Industrial
Barajas & Associates, Inc leased 12,821 SF from Highland Office LLC for $369,244 on a five-year lease. The tenant was represented by Jarrad Katz, CCIM and Galit Kimerling of MDL Group and the landlord was represented by Chuck Orne of Mendicino Commercial Realty. The property is located at 3073 S. Highland. Reported monthly rent is $0.48 PSF.

Las Vegas, 89113
Industrial
Red Bull Distribution Company Inc leased 33,465 SF from EJM Arroyo South I Property LLC for $1,157,120 on a 62-month lease. The tenant was represented by Susan Borst and Mike Hillis of Cushman & Wakefield Commerce and the landlord was represented by Spencer Pinter of Colliers International. The property is located at 7061 W. Arby Avenue, Suites 130-170. Reported monthly rent is $0.56 PSF.

Las Vegas, 89113
Industrial
Autonomy Technology Inc. leased 15,614 SF from EJM Arroyo South 1 Property LLC for $621,660 on a 62-month lease. The tenant was represented by Mike Tabeek, CCIM of Newmark, Grubb, Knight, Frank and the landlord was represented by Spencer Pinter of Colliers International. The property is located at 6980 W. Warm Springs Road, Suites 160 and 170. Reported monthly rent is $0.64 PSF.

Las Vegas, 89120
Industrial
EBC Brakes USA, Inc leased 65,270 SF from KTR LV I LLC for $4,454,788 on a 125-month lease. The tenant was represented by Jarrad Katz, CCIM and Galit Kimerling of MDL Group and the landlord was represented by Spencer Pinter and Dan Doherty, SIOR of Colliers International. The property is located at 6180 S. Pearl Street, Suite A-C. Reported monthly rent is $0.55 PSF.

Las Vegas,
Industrial
Shelby American leased 135,000 SF from GKT II and GKT II Acquisitions for $4,151,481 on a five-year lease. The tenant was represented by Greg Tassi of CB Richard Ellis and the landlord was represented by Dan Doherty, SIOR and Chris Lane of Colliers International. The property is located at 6405 Ensworth Street. Reported monthly rent is $0.51 PSF.