Nevada Real Estate & Development Report: June 2014

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

E

Project, Industrial
ADDRESS 124 S. 6th St., 89101
DETAILS The John E. Carson hotel is being renovated into a mixed-use development that will feature feature both retail and office spaces. Construction of the 19,000 SF space began in April of last year and is expected to be complete by July of this year. Tenants to the renovated space are expected to include Black Spade Tattoo, O Face Doughnuts, Kerry Simon’s Carson Kitchen and Grass Roots juice bar, among others.

Lease, Industrial
ADDRESS 2925 Lincoln Rd., 89115
TENANT Nevada System of Higher Education on behalf of CSN
LANDLORD CW & AC Enterprises LTD
DETAILS 26,165 SF; $276,825.70 for three years
TENANT’S REP Edward Bassford of Sun Commercial Real Estate, Inc.

H

Project, Industrial
ADDRESS 3021 Horizon Ridge Pkwy., 89052
ARCHITECT OF RECORD Stengel Hill Architecture
DETAILS Expansion of the Seven Hills Behavioral Institute was recently completed under the management of Burke Construction Group. The $4 million project converted an adjacent office building into an institutional occupancy building that includes 36 new inpatient psychiatric beds with two distinct nursing units of 18 beds each. Additionally, a new 2,415 SF building was added connecting the original 26,400 facility with the 15,000 SF converted office space.

Sale, Multi-Family
ADDRESS 409 & 417 E. Merlayne Dr., 89011
BUYER Vegas Venture Holdings, LLC
SELLER Hoffman Family Living Trust
DETAILS 32 units; $1.4 milion
APN 178-01-604-010
REP (BOTH) Patrick Sauter and Arthur Carll of The Sauter Multifamily Group

Sale, Retail
ADDRESS SW Corner of Larson and Rancho Destino, 89044
BUYER 9927 West Flamingo Road, LLC
SELLER West Flamingo Road, LLC
DETAILS 80,000 SF; $4.2 million
APN 191-16-101-003
BUYER’S REP Ryan Howse of Preston Matthews Real Estate Services
SELLER’S REP Grant Traub and Chris Connell of Colliers International

Lease, Industrial
ADDRESS 7300 Eastgate Rd., Ste. 150, 89011
TENANT Jimenez Arms LLC
LANDLORD Harsch Investment Properties Nevada LLC
DETAILS 27,412 SF; $745,013 for 64 months
TENANT’S REP Kevin Higgins, SIOR and Garrett Toft of Voit Real Estate Services
LANDLORD’S REP Galit Kimerling of MDL Group

N

Lease, Office
ADDRESS 4285 N. Rancho Dr., Ste 110, 89130
TENANT Life Alert
LANDLORD SLP Northbrooke 5, LLC
DETAILS 5,155 SF; $65,296.67 for one year
LANDLORD’S REP Timothy Behrendt and Lisa Hauger of Sun Commercial Real Estate, Inc.

Lease, Retail
ADDRESS 1829 W. Craig Rd., 89032
TENANT Mattress Firm, Inc.
LANDLORD Retail Center Partners, Ltd.
DETAILS 3,187 SF; $382,440 for five years
TENANT’S REP Chris Clifford of The Equity Group
LANDLORD’S REP Dan Hubbard and Todd Manning of Cushman & Wakefield Commerce

Lease, Industrial
ADDRESS 4436 Lawrence, Unit E, 89081
TENANT Rand Group, Inc.
LANDLORD MCA Lawrence LLC
DETAILS 6,750 SF; $55,147 for two years
TENANT’S REP Mark Kincaid of Forever 99 Realty
LANDLORD’S REP Danielle and Amy Ogden of Cushman & Wakefield Commerce

S

Sale, Office
ADDRESS 3915 E. Patrick Ave., 89120
BUYER MCA Realty, Inc.
SELLER Western Funding, Inc.
DETAILS 20,000 SF; $1.3 million
APN 161-31-710-005
REP (BOTH) Danielle Steffen and Amy Ogden of Cushman & Wakefield Commerce

SW

Sale, Office
ADDRESS 5300 and 5350 W. Charleston Blvd. 89146
BUYER Daniel Touizer
SELLER City National Bank
DETAILS 9,068 SF; $675,000
APN 138-36-803-015
BUYER’S REP Nissim Nick Azouz of Realty One
SELLER’S REP Cathy Jones, CCIM and Paul Miachika of Sun Commercial Real Estate, Inc.

Sale, Industrial
ADDRESS 3905 W. Diablo, 89118
BUYER FWID, LLC
SELLER Tanner Family, L.P.
DETAILS 2.27 acres; $5 million
APN 162-30-801-006
BUYER’S REP Leo Biedermann of Cushman & Wakefield Commerce
SELLER’S REP Art Farmanali, SIOR of Cushman & Wakefield Commerce

Lease, Office
ADDRESS 5580 W. Flamingo Rd., 89103
TENANT United HeatlhCare Services, Inc.
LANDLORD Flamingo Ranch, LLC
DETAILS 10,538 SF; $546,922 for five years
TENANT’S REP Brett Davis of Jones Lang LaSalle
LANDLORD’S REP Bob Hawkins and Dan Palmeri of Cushman & Wakefield Commerce

Lease, Office
ADDRESS 6600 W. Charleston Blvd., 89146
TENANT H.O.P.E. Counseling Services, LLC
LANDLORD 6600 W Charleston, LLC
DETAILS 6,727 SF; $182,087 for three years
TENANT’S REP Bill Tomiyasu of Berkshire Hathaway
LANDLORD’S REP Pete Janemark of Cushman & Wakefield Commerce

Lease, Retail
ADDRESS 3655 S. Fort Apache Rd., 89147
TENANT Shamus P. Gilliland
LANDLORD Twin 168 LLC
DETAILS 4,187 SF; $502,000 for five years
TENANT’S REP Tony Amato of Avison Young
LANDLORD’S REP Troy Tobler of Virtus Commercial

WC

Project, Industrial
ADDRESS 1664 N. Virginia St., 89557
DETAILS The opening ceremony for University of Nevada, Reno’s new Earthquake Engineering Lab is set for early this summer. The expansion, which began in November of 2010, makes the facility the largest and most versatile large-scale earthquake/seismic simulation laboratory in the United States. Clark and Sullivan served as the contractor for the project and the architect was BJG Architecture + Engineering. Additionally, the first phase of construction for the new William N. Pennington Student Achievement Center was completed in February 2014 with the remainder of the construction scheduled to begin mid-summer this year. H + K Architects is the architect of record and the contractor is CORE Construction.

Sale, Office
ADDRESS 305 W. Moana Ln., 89509
BUYER Clark Family Trust, Donald P et al
SELLER Clark Family Trust, Donald P
DETAILS 10,440 SF; $700,000
APN 019-352-05

Sale, Retail
ADDRESS 1401 S. Virginia St., 89502
BUYER GBS 1401 S Virginia LLC
SELLER Heritage Bank of Nevada
DETAILS 6,350 SF; $1.1 million
APN 014-133-02

Sale, Industrial
ADDRESS 521 and 527 Dunn Cir., 89431
BUYER DLJ Dunn Circle LLC
SELLER TOF Sparks LLC
DETAILS 6,120 SF; $795,600
APN 034-510-13 and 034-510-16

Sale, Industrial
ADDRESS 75 E. Freeport Blvd., 89431
BUYER Truax, Kevin & Nichole
SELLER Patton Music Co.
DETAILS 4,000 SF; $200,000
APN 034-450-03

Sale, Retail
ADDRESS 695 Willow St., 89502
BUYER Reno Aikido Coop
SELLER Nerino Investments LLC
DETAILS 3,280 SF; $150,000
APN 012-138-11

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