Nevada Real Estate & Development Report: May 2014

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

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Project, Industrial
ADDRESS 400 S. Seventh St., 89101
DETAILS The Korte Company completed the Robert T. Eglet Advocacy Center in Downtown Las Vegas. The $17.5 million three-story building covers 96,875 SF with office space occupying a little over 47,600 SF. The architect for the project was Design Cell Architecture.

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Sale, Industrial
ADDRESS 1175 Center Point Dr., 89074
BUYER Reyburn Family Trust
SELLER NRG Nevada LP
DETAILS 23,200 SF; $1.9 million
APN 175-15-511-003
SELLER’S REP Higgins and Toft of Voit Real Estate Services

Lease, Retail
ADDRESS 7360 Eastgate Rd., Ste 135-140, 89011
TENANT LLW Enterprises LLC dba Voit Lighting
LANDLORD Harsch Investment Properties
DETAILS 10,655 SF; $117,273 for 26.5 months
TENANT’S REP Higgins and Toft of Voit Real Estate Services
LANDLORD’S REP MDL Group

Lease, Industrial
ADDRESS 739 W. Sunset Rd., 89011
TENANT Quality A/C Service, LLC
LANDLORD United Rental (North America), Inc.
DETAILS 9,760 SF; $487,387 for five years
TENANT’S REP Sue Rogers of Cresa
LANDLORD’S REP Dan Palmeri and Leo Biedermann of Cushman & Wakefield Commerce

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Sale, Office
ADDRESS 4315 N. Rancho Dr., 89130
BUYER TEG Rancho LLC
SELLER Judy K. Jordan Family Trust
DETAILS 28,456 SF; $350,000
APN 138-02-712-005
BUYER’S REP Brendan Keating of The Equity Group
SELLER’S REP Chris Connell of Colliers International

Sale, Retail
ADDRESS 3820 E. Craig Rd., 89030
BUYER Kenneth and Theresa Houchin
SELLER Angyris Enterprises LLC and Joann Argyris
DETAILS 5,022 SF; $2.7 million
APN 140-06-210-044
BUYER’S REP Eric Salile of General Realty Group Inc.
SELLER’S REP Nelson Tressler and Michael Zobrist of Newmark Grubb Knight Frank

Sale, Industrial
ADDRESS 2642 Lone Mountain Rd., 89081
BUYER Ron Pycior
DETAILS 11,100 SF; $1,235,000
APN 124-36-402-008
REP (BOTH) Dean Willmore, SIOR of Colliers International

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Project, Multi-Family
ADDRESS Five communities around Las Vegas
DETAILS Sunrise Management has expanded to include five more communities to its Las Vegas portfolio. The properties include the 144-unit Cypress Springs property, the 112-unit El Pueblo Las Brisas property, the 228-unit El Pueblo de los Arboles property, the 264-unit Jovanna Villas property and the 100-unit Southern Cove property.

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Project, Other
ADDRESS Tropicana Ave. and Las Vegas Blvd., 89109
DETAILS Recreation Development Company LLC (RDC), contracted by MGM Resorts International, has completed the repainting of the Statue of Liberty replica in front of the New York-New York Hotel & Casino. The project cost $150,000 to complete.

Sale, Industrial
ADDRESS 2053 Pama Ln., 89119
BUYER Auto Drop, LLC
SELLER CML-NV Airport South LLC
DETAILS 7,463 SF; $615,000
APN 177-02-616-005
BUYER’S REP Michael De Lee of De Lee and Associates
SELLER’S REP Colliers International

Sale, Multi-Family
ADDRESS 4995 S. Maryland Pkwy, 89119
BUYER Palmer Hall Properties LLC
SELLER Tropicana Village Apartments Ltd.
DETAILS 172 units; $7,850,000
APN 162-27-502-006
SELLER’S REP NAI Vegas/The Sauter Multi-family Group

Lease, Office
ADDRESS 500 Pilot Rd., Ste A, 89119
TENANT Resort.com Marketing, LLC
LANDLORD Hughes Airport Realty Owner, LLC
DETAILS 6,765 SF; $361,792 for 53 months
LANDLORD’S REP Higgins and Toft of Voit Real Estate Services

Lease, Industrial
ADDRESS 1385 Pama Ln, Ste 100-102, 89119
TENANT Happ Controls, Inc.
LANDLORD KTR LV Loan I, LLC
DETAILS 24,167 SF; $513,487 for 65 months
TENANT’S REP Jeremy Green of CBRE
LANDLORD’S REP Susan Borst and Bob Hawkins of Cushman & Wakefield Commerce

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Sale, Office
ADDRESS 8876 Spanish Ridge Ave., 89148
BUYER Resort Holdings 5 LLC
SELLER CML NV SR LLC
DETAILS 35,663 SF; $600.000
APN 163-29-712-003
BUYER’S REP Robert Hasman of Sperry Van Ness
SELLER’S REP Ryan Martin and Patti Dillon of Colliers International

Sale, Retail
ADDRESS 9620 W. Russell Rd., 89148
BUYER The Bascom Group, LLC
SELLER Chapel Hill
DETAILS 222 units; $22,470,000
APN 163-30-819-000
BUYER’S REP Brian Esidendrath and Troy Tegeler of CBRE Capital Markets
SELLER’S REP Chris Bentley and Melissa Salas of ARA Real Estate Investment Services

Lease, Office
ADDRESS 7220 S. Cimarron Rd., 89113
TENANT Arizona Pain Specialists, LLC
LANDLORD JAMD, LLC
DETAILS 5,040 SF; $559,082 for 68 months
TENANT’S REP Lisa Hauger of Sun Commercial Real Estate, Inc.

Lease, Office
ADDRESS 850 S. Durango Rd., Ste 100-107, 89117
TENANT Nevada State High School
LANDLORD SET Properties
DETAILS 5,800 SF; $130,122 for 26 months
TENANT’S REP Eric Humes of Rooftop Realty
LANDLORD’S REP Pete Janemark of Cushman & Wakefield Commerce

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Sale, Office
ADDRESS 11975 E. Interstate 80, 89434
BUYER Hensler Family Trust
SELLER CFS Investments LLC
DETAILS 5,000 SF; $1,112,000
APN 084-090-10

Sale, Industrial
ADDRESS 415 E. 4th St., 89434
BUYER Bajwa, Nav S & Manpreet
SELLER Hay Trust, Pamela R
DETAILS 8,000 SF; $450,000
APN 007-303-13

Sale, Industrial
ADDRESS 537 Vista Blvd., 89434
BUYER Tin River LLC
SELLER Vista Business Park LLC
DETAILS 8,307 SF; $471,075
APN 037-370-14

Sale, Industrial
ADDRESS 300 Kietzke Ln., 89502
BUYER Chhina Properties LLC
SELLER City National Bank
DETAILS 11,708 SF; $470,000
APN 012-191-43

Sale, Office
ADDRESS 777 S. Center St., 89501
BUYER Johnson Family Revocable Trust
SELLER Maytan Family Trust, Steve & Iris
DETAILS 24,468 SF; $1.4 million
APN 011-232-16

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