ReD Report - January 2010

ReD Report

Deal Tracker

PROJECTS

Pahrump, 89048

Office

Dakem and Associates has broken ground on a 12,000 SF medical office building.  The project is expected to be completed by summer of this year and is located at 330 S. Lolo.

Las Vegas, 89183

Office

Alan Jeskey Builders, Inc. has been awarded the St. Rose Onsite and Building Construction project.  The 4,200 SF project will consist of site work and construction of a gray-shell building.  The architect for the building is George M. Rogers, Architect.  The project is located on the corner of St. Rose Pkwy. and Maryland Pkwy.

Las Vegas, 89106

Retail

Danoski Clutts Building Group has completed Ethan Allen’s Retail Home Furnishings Design Studio.  The 6,914 SF tenant improvement project and remodel is located inside the World Market Center.  The project was designed by EV & A Architects and is located at 495 S. Grand Central Pkwy.

Las Vegas, 89146

Government

McCarthy Building Companies, Inc. has broken ground on the College of Southern Nevada Fire Station and Instructional Center.  The project is a joint venture between the City of Las Vegas Fire & Rescue and the College of Southern Nevada (CSN) and will both provide a working fire station and classroom space for CSN Fire Science Program students.  The 15,400 SF project will have 4,600 SF of classroom space and was designed by JMA Architecture Studios.  The building is expected to be complete by the fall of this year and is projected to cost $5.5 million.  The project is located on the southwest corner of CSN’s Charleston campus at 6375 W. Charleston Blvd.

SALES

Las Vegas, 89146

Mixed-Use

Silvertown, Inc. d.b.a. New Life Adult Day Care purchased a retail-office building on 1.06 acres from Hall Property, LLC for $2,450,000.  The buyer was represented by Ron McMenemy and Mary Towns of McMenemy Investment Services and the seller was represented by Jack Woodcock of Prudential-Americana Group Realtors.  The sale was financed by Nevada National Bank in cooperation with the SBA.  The property is located at 5540 W. Spring Mountain Rd.

APN # 161-13-106-025

Las Vegas, 89102

Office

Wumosy, LLC purchased 21,600 SF from Amcor Properties, LLC for $3 million or $139 PSF.  The property was represented by Mark Gaughan of Nevada Real Estate Corporation.  The property is located at 3233 W. Charleston.

APN # 162-05-112-001

Las Vegas, 89120

Office

Canamex Freeport, LLC purchased a 13,961 SF building from Piedmonte Family Trust, Whittaker John & K. A. Revocable Trust for $1.8 million or $129 PSF.  The buyer and seller were both represented by Perry White of Marcus & Millichap.  The property is located at 6216 S. Sandhill Rd.

APN # 161-31-710-049

Sparks, 89431

Office

Zane Investigations, Inc. purchased a 2,400 SF property from Shaver Construction, Inc. for $675,000 or $281 PSF.  The buyer was represented by Chris Fairchild of Grubb & Ellis | NCG and the seller was represented by Carole Brill of Miller Industrial Properties.  The property is located at 9 Greg St.

APN # 034-363-10

Las Vegas, 89103 & 89123

Retail

Ramona Terrace Estates purchased three separate PT’s taverns from PT Corp and PT Landtech.  The seller was represented by John Mendoza of New Growth Commercial Real Estate Co. in all three sales.  The properties sold for $2,876,000, $2,391,000 and $2,316,000, respectively.  The properties are located at 4424 Spring Mountain Rd., 582 Silverado Ranch Blvd. and 1383 E. Silverado Ranch Blvd., respectively.

Las Vegas, 89108

Retail

7-Eleven, Inc. purchased a convenience store on 0.52 acres from Sally Miller for $650,000.  The property was represented by John Mendoza of New Growth Commercial Real Estate Co.   The property is located at 1600 N. Decatur Blvd.

APN # 139-19-401-006

Las Vegas, 89113

Retail

Ricardo and Celia Sanchez d.b.a Riccel Carpets purchased a 4,071 SF building from Glenbart Properties, LLC for $750,000 or $184 PSF.  The buyer and seller were both represented by Ron McMenemy of McMenemy Investment Services.  The property is located at 5101 S. Rainbow Blvd.

APN # 162-32-750-001

Henderson, 89011

Industrial

Barbour Underground purchased a 4,560 SF property from James and Cathy Daniels for $825,000 or $181 PSF.  The seller was represented by Michael Marrone of Fortis Commercial Advisors.  The property is located at 260 Sunpac.

APN # 178-01-511-006

Henderson, 89014

Industrial

Lucky Flower, LLC purchased 7,177 SF from Hedley Henderson I, LLC for $645,930 or $90 PSF.  The buyer was represented by Toyoda-Roberts Realty and the seller was represented by Bridget Richards, CCIM of New Growth Commercial Real Estate Co.  The property is located at 1867 Whitney Mesa Dr.

APN # 161-32-713-007

Henderson, 89074

Industrial

MD Fabrication, Inc. purchased an industrial building on 0.48 acres from Tyler Investments, LLC for $887,000.  The buyer was represented by Tom Tedder of Clifford Commercial and the seller was represented by Karen Kelly of Mountain West Group Real Estate & Investments.  The property is located at 1222 Wigwam.

APN # 178-15-710-017

Las Vegas, 89118

Industrial

Shawn Boday purchased 6,600 SF from HD Supply for $825,000 or $125 PSF.  The buyer was represented by Tony Castrignano of Sky Mesa Realty and the seller was represented by David Flynn, Chuck Witters, SIOR and Kris Watier of Lee & Associates.  The property is located at 4015 Bell Dr.

APN # 162-30-511-001

Las Vegas, 89118

Industrial

Marcelino Duarte purchased a 5,568 SF building from Fullerton Commercial Bank for $520,000 or $93 PSF.  The buyer was represented by Colliers International’s Chris Jensvold.  The property is located at 6645 Badura Ave., Building 1.

APN # 176-02-311-000

Las Vegas, 89109

Multi-Family

Vegas Water Damage, LLC purchased a multi-family investment property on 0.87 acres from Desert Aire Apartments for $1,400,744.  The seller was represented by Gary Banner of Commerce CRG.  The property is located at 1076 – 1112 Sierra Vista Dr.

APN # 162-15-510-057 et al

Las Vegas, 89156

Vacant Land

David Alvarez purchased 1.86 acres from MPY Enterprises, Inc. for $570,000 or $7 PSF.  The seller was represented by CB Richard Ellis’ Greg Tassi and Donna Alderson, SIOR.  The property is located at 3080 Ringe Ln.

APN # 140-16-102-006

LEASES

Las Vegas, 89101

Office

Wilson Eiser Moskowitz Edelman & Dicker, LLP leased 16,381 SF in the Bank of America Plaza from B of A Plaza, LP for $6,115,374 on a 10-year lease.  The tenant was represented by Charles Witters, SIOR and Kris Watier of Lee & Associates.  The landlord was represented by Keith Bassett of Commerce CRG.  The property is located at 300 S. 4th St.  Reported monthly rent is $3.11 PSF.

Las Vegas, 89118

Office

Direct Equity Mortgage, LLC leased 6,300 SF from Sanmar Investments, LLC for $236,250 on a 26-month lease.  The tenant and landlord were both represented by Soozi Jones Walker, CCIM, SIOR and Bobbi Miracle, CCIM of Commercial Executives.  The property is located at 6830 Oquendo Rd., Suite 202.  Reported monthly rent is $1.44 PSF.

Las Vegas, 89118

Office

Nevada Litho, LLC leased 6,475 SF from Leonardi Properties, Inc. for $36,000 on a one-year lease.  The tenant and landlord were both represented by Dean Willmore, SIOR, Amy Ogden and Laura Hart of Prudential | IPG Commercial.  The property is located at 6250 Banning Creek.  Reported monthly rent is $0.46 PSF.

Las Vegas, 89144

Office

Zurich American Insurance Company leased 9,181 SF from 1120/1140 Town Center Drive, LLC for $1,609,154 on a 65-month lease.  The tenant was represented by Charles Witters, SIOR and Kris Watier of Lee & Associates.  The property is located at 1140 Town Center Dr.  Reported monthly rent is $2.70 PSF.

Las Vegas, 89103

Retail

Doggie District leased 5,857 SF from Spring Valley Shopping Center Las Vegas, NV, LP for $480,427 on a six-year lease.  The tenant was represented by Nelson Tressler of Grubb & Ellis | Las Vegas.  The property is located at 4250 S. Rainbow Blvd.  Reported monthly rent is $1.14 PSF.

Las Vegas, 89117

Retail

Cox Communications leased 3,693 SF from Sumrln, LLC for $620,424 on a five-year lease.  The landlord was represented by Scot Marker of Colliers International.  The property is located at 3915 W. Hacienda Ave.  Reported monthly rent is $0.52 PSF.

Las Vegas, 89118

Retail

Prudential Overall Supply leased 8,880 SF from Rousso Investments, LLC for $164,683 on a three-year lease.  The tenant was represented by David Scherer and Matthew Kreft of Grubb & Ellis | Las Vegas.  The property is located at 3915 W. Hacienda Ave.  Reported monthly rent is $0.52 PSF.

Henderson, 89014

Industrial

1122 Media, LLC leased 20,000 SF from Wagamoo Holdings, LLC for $446,400 on a 37-month lease.  The landlord was represented by Jeremy Green, Gabe Telles and Tyler Ecklund of CB Richard Ellis.  The property is located at 130 Cassia Way.  Reported monthly rent is $0.60 PSF.

Henderson, 89014

Industrial

A.V.E., Inc. leased 6,400 SF from Kerzetski Park, LLC for $27,600 on a one-year lease.  The tenant was represented by Mike Pusateri of Shapiro Sher Commercial.  The landlord was represented by Michael De Lew, SIOR, Greg Pancirov, SIOR and Kevin Collura of Colliers International.  The property is located at 124 Cassia Way.  Reported monthly rent is $0.36 PSF.

North Las Vegas, 89030

Industrial

Las Vegas/L.A. Express, Inc. sub-leased 22,000 SF from CPI Card Group-Nevada, Inc. for $226,211 on a 26-month lease.  The tenant was represented by Daniel Doherty, SIOR, Patti Dillon and Ben Campbell of Colliers International.  The property is located at 1220 Trade Dr.  Reported monthly rent is $0.40 PSF.

North Las Vegas, 89030

Industrial

Pat Clark Sports, Inc. leased 41,309 SF from Reywest Commercial Development, LLC for $886,611 on a five-year lease.  The tenant was represented by Lisa Gilstrap and Brian Seibold of Lee & Associates and the landlord was represented by Mel Koich, Chris Lesix and Joe Leavitt of Lee & Associates.  The property is located at 3865 N. Pecos Rd.  Reported monthly rent is $0.36 PSF.

Henderson, 89074

Industrial

Clearwire US, LLC leased 52,850 SF from Gubler and Gubler, LLC for $67,598 on a 15-month lease.  The landlord was represented by Michael De Lew, SIOR and Greg Pancirov, SIOR of Colliers International.  The property is located at 1051 Mary Crest Dr., Suites G, H, J and K.  Reported monthly rent is $0.10 PSF.

Las Vegas, 89118

Industrial

Signs West, Inc. leased 11,530 SF from EJM Development Co. for $265,188 on a three-year lease.  The tenant was represented by Mike Combs of Casey Realty, Inc. and the landlord was represented by Spencer Pinter of Colliers International.  The property is located at 5235 S. Polaris Ave., Suites 500 and 600.  Reported monthly rent is $0.64 PSF.

Las Vegas, 89118

Industrial

Martin Door Manufacturing, Inc. leased 11,099 SF from Dean and Penny Brunner 1985 Trust for $267,696 on a three-year lease.  The tenant was represented by Laura Hart of Prudential | IPG Commercial.  The property is located at 6667 Schuster St.  Reported monthly rent is $0.67 PSF.

Las Vegas, 89119

Industrial

Transact Technologies, Inc. leased 13,662 SF in the Hughes Airport Center from CIP Hughes Center, LLC for $911,423 on a seven-year lease.  The tenant was represented by Shalonda Hughes of CB Richard Ellis.  The property is located at 6700 S. Paradise Rd.  Reported monthly rent is $0.80 PSF.

Las Vegas, 89119

Industrial

Vitacost.com leased 90,000 SF from Pilot Company for $3,119,541 on a 62-month lease.  The landlord was represented by Greg Tassi and Donna Alderson, SIOR of CB Richard Ellis.  The property is located at 840 Pilot Rd.  Reported monthly rent is $0.56 PSF.

Reno, 89511

Industrial

Sleep Fit Corp d.b.a MattressLand leased 10,880 SF from Brittany, LLC for $397,560 on a five-year lease.  The landlord was represented by Tom de Jong of Colliers International – Reno.  The property is located at 9744 S. Virginia St., Suites A-B.  Reported monthly rent is $0.60 PSF.

LOANS

Las Vegas,

Office

Andy Hantges, CCIM of Access Commercial Mortgage has secured financing for the Paradise Professional Office complex for AZZ & ZHZ Properties, LLC.  The $2.75 million loan has a five-year fixed rate with no pre-payment penalty and a 20 year amortization.  The loan-to-value was 61 percent.  The complex is located on Eastern Ave.