Nevada Real Estate & Development Report: March 2014

Read the Nevada Real Estate and Development Report: March 2014 - Commercial real estate and development - projects, sales, and leases.


Lease, Industrial
ADDRESS 4935 Steptoe St. Ste 500, 89122
TENANT Charming Exhibition Inc.
LANDLORD Lomas Regency LLC
DETAILS 5,850 SF; $22,464 for one year
REP (BOTH) Jarrad Katz, CCIM and Galit Kimerling of MDL Group


Project, Office
ADDRESS 875 Warm Springs Rd., 89011
DETAILS Cadence, the 2,200-acre planned community in Henderson has begun construction on a 10,000 SF two-story office building. Designed by Encompass Studio, the office will serve as the Cadence marketing center and have 5,000 SF of office space on the second level available for lease.

Project, Hospital
ADDRESS NEC of US 93/95 and Galleria Drive, 89015
DETAILS Union Village, LLC has completed the purchase of 159 acres of land from the City of Henderson to build a healthcare village. The village will include Union Centre, a hospital and healthcare complex, Union Plaza, a retail center with medical offices, residential apartments, entertainment and a hotel, Union Place, a Senior Village and Union Park, the village’s cultural center. The project is expected to generate 17,000 jobs and billions of dollars in tax revenues for the local and state economies.

Sale, Office
ADDRESS 3039 W. Horizon Ridge Pkwy., 89052
BUYER Denco, LLc
SELLER Vantage at Horizon Ridge, LLC
DETAILS 6,754 SF; $1,725,000
APN 177-35-510-029
BUYER’S REP William Skupa and Gino Vincent of MINT Property Group, Ltd.
SELLER’S REP Joseph DeSimone of First Federal Realty DeSimone

Lease, Industrial
ADDRESS 1051 Olsen St. #3311, 89011
TENANT Whiting Turner Contractors
LANDLORD Ten Buildings LLC
DETAILS 5,426 SF; $31,920 for one year
REP (BOTH) Sam Scaletta of MDL Group


Sale, Vacant Land
ADDRESS NWC of Aliante Pkwy and Elkhorn Rd., 89084
SELLER Aliante Med, LLC
DETAILS 1 acre; $413,850
APN 124-17-415-002
BUYER’S REP Ron McMenemy of McMenemy Investment Services
SELLER’S REP Charles Van Geel of American Nevada Realty

Sale, Multi-Family
ADDRESS 1001 E. Carey Ave., 89030
BUYER Desert Palms, LP
SELLER Desert Palms North, LLC
DETAILS 248 units; $7,800,000
APN 139-23-101-001
REP (BOTH) NAI Vegas’ Sauter Multi-family Group


ADDRESS NEC of Cactus Ave. and Bermuda Rd., 89183
CONTRACTOR Martin-Harris Construction
DEVELOPERS WGH Partners and Florida East Coast Realty
DETAILS Construction has resumed on The Lennox Las Vegas, a 200,000 SF, four-story apartment building. The 100 units will feature one-, two- and three-bedroom options ranging from 900 to 1,900 SF.

Lease, Office
ADDRESS 3061 S. Maryland Pkwy., Ste 101, 89109
TENANT Sunrise Pediatrics
DETAILS 5,344 SF; $360,400 for four years
TENANT’S REP Jake Narksavee of Prudential Americana Group
LANDLORD’S REP Barton Hyde of Avison Young

Sale, Industrial
ADDRESS 6329 Pine St., 89120
SELLER Roggero Enterprises LLC
DETAILS 10,416 SF; $850,000
APN 162-36-801-016
BUYER’S REP Dillon England of Las Vegas Realty LLC
SELLER’S REP Michael De Lew, SIOR and Greg Pancirov, SIOR of Colliers International


Project, Retail
ADDRESS East of the 215 Beltway between Sahara Ave. and Charleston Ave., 89135
DETAILS The Shops at Summerlin is a 106-acre development within the planned center to be known as Downtown Summerlin, a 22,500-acre master planned community that will include retail, entertainment, office, hotel and multi-family residential. Construction on The Shops began in the middle of 2013 and is expected to open in late 2014 featuring more than 125 stores and restaurants.

Sale, Vacant Land
ADDRESS SEC of W. Hacienda and S. Fort Apache Rd., 89148
SELLER Hacienda 50 LLC
DETAILS 40 acres; $17,509,800
APN 163-29-301-001
BUYER’S REP Michael Stuart of Colliers International
SELLER’S REP Robert Torres and Scott Gragson of Colliers International

Sale, Vacant Land
ADDRESS Sunset Rd. & Gagnier Blvd, 89113
BUYER Panattoni Development Company, Inc.
SELLER Beltway 4.77 LLC
DETAILS 4 acres; $1,500,000
APN 176-04-101-012
BUYER’S REP Susan Borst of Cushman & Wakefield Commerce
SELLER’S REP Scot Gragson of Colliers International

Sale, Industrial
ADDRESS 4325 W. Patrick Ln., 89118
BUYER Vegas Closeouts LLC
DETAILS 7,104 SF; $625,000
APN 162-31-712-000
BUYER’S REP James Griffis of MDL Group
SELLER’S REP Eric Larkin of Musser Capital Real Estate Advisors

Sale, Multi-Family
ADDRESS 9550 W. Sahara Ave., 89117
BUYER Griffis Residential
SELLER The Picerne Group
DETAILS 332 units; $43,160,000
APN 163-06-814-003
SELLER’S REP Christopher Bentley and Melissa Salas of Apartment Realty Advisors

Lease, Office
ADDRESS 9420 W. Sahara Ave. Stes 100, 200, 201 & 204, 89117
TENANT Large Vision I, LLC
LANDLORD 9440 West Sahara Holdings, LLC
DETAILS 15,298 SF; $1,313,945 for 63 months
TENANT’S REP Craig Sutton of Keller Williams
LANDLORD’S REP Bob Hawkins of Cushman & Wakefield Commerce

Loan, Office
ADDRESS 6330 S. Jones Blvd., 89118
BORROWER Infinity Hospice Care of Las Vegas, LLC
LENDER TMC Financing
DETAILS $4,980,000 loan for a construction project adding a 9,616 SF hospice unit and a 9,015 SF office support building.
LENDER’S REP Cindy Santilena, CCIM of TMC Financing

Lease, Church
ADDRESS 6344 W. Sahara Ave., 89146
TENANT International Church of The Four Square Gospel
LANDLORD West Sahara Associates
DETAILS 16,400 SF; $488,392 for five years
LANDLORD’S REP Joseph Anderson and Neil Dela Cruz of MDL Group


Sale, Office
ADDRESS 300 Kresge Ln., 89431
BUYER JKN LLC, 300 Kresge Series
SELLER Big Julie Inc
DETAILS 18,318 SF; $600,000
APN 034-258-01

Sale, Industrial
ADDRESS 3450 Airway Dr., 89511
SELLER Mept Southwest Comm Ctr III & IV
DETAILS 395,488 SF; $53,846,000
APN 025-480-42

Sale, Office
ADDRESS 5605 Riggins Ct, 89502
BUYER Riggins Court LLC
SELLER Wee Bee Partners LLC
DETAILS 14,040 SF; $800,000
APN 025-552-10

Read the Nevada Real Estate and Development Report: March 2014 - Commercial real estate and development - projects, sales, and leases.