ReD Report - March 2010

ReD Report

Deal Tracker

PROJECTS

Carson City, 89703

Office

Shaheen Beauchamp Builders, LLC has completed construction on an ambulatory surgery center and medical office clinic for GI Consultants, Inc.  The 15,000 SF building is located adjacent to the Carson Tahoe Medical Center campus at 1385 Vista Ln.

Las Vegas, 89108

Retail

Alan Jeskey Builders, Inc. has begun tenant improvement work for Total Image Salon.  The 3,600 SF project is located on W. Craig Rd., between N. Jones and N. Decatur.

Las Vegas, 89109

Retail

Kittrell Jensen Contractors has completed work on the Cabo Wabo Cantina.  The project was a re-model of 4,500 SF and included a restaurant, kitchen, stage and exterior patio.  The restaurant is located in Planet Hollywood at 3663 Las Vegas Blvd. South.

North Las Vegas, 89030

Industrial

Alan Jeskey Builders, Inc. has been awarded a design/build project for Stepsaver, Inc.  The 6,000 SF project will be located on John Peter Lee St.

Las Vegas, 89119

Industrial

R & O Construction has begun work on two, tilt-up concrete buildings on approximately 19 acres.  Building 1 is 78,963 SF and building 2 is 121,992 SF.  The architect for the project is Marnell Architecture.  The buildings are expected to be complete by the end of July.  The project is located at 6055 and 5935 Surrey St.

Henderson, 89015

Government

Rafael Construction has completed work on the City of Henderson’s Senior Center.  The 29,350 SF center cost $11.9 million and was designed by Carpenter Sellers Associates.  The center was designed to achieve LEED Gold certification and is located in Henderson’s Heritage Park at 300 S. Racetrack Rd.

Indian Springs, 89018

Government

Cobblestone Construction and Helix Electric have begun work on the Wing HQ Facility and the UAS Dining Facility at Creech Air Force Base.  The Wing HQ Facility is a 20,000 SF mission support facility for the Predator program and the dining facility will be 17,500 SF.  Both building are expected to achieve a LEED rating with the Wing HQ Facility expected to achieve a LEED Silver Certification.  The facilities are expected to be complete by July of this year.

Las Vegas, 89101

Government

CORE Construction has completed work on the Campos Office Building and parking structure.  The general contractor was contracted by the Nevada State Public Works board to complete the five-story 187,467 SF structure.  The project was designed to meet or exceed a LEED Silver rating and include the demolition of the original structure on the 1.6 acre site.  The building cost $26.8 million and SH Architecture was the architect of record.  The project is located at 215 E. Bonanza Rd.

Las Vegas, 89101

Other

CORE Construction has completed work on the UNLV McDermott indoor aquatic center.  The $4.4 million design/build project replaced the old pool on the UNLV campus.  Carpenter Sellers Architects was the architect for the project and Counsilman-Hunsaker served as an engineer consultant.

SALES

Las Vegas, 89148

Office

Andorra 9, LLC purchased 4,020 SF in the Medical Pavillion at Southern Palms from Ritaveh, LLC for $500,200 or $142 PSF.  The buyer was represented by Dana Berggren, LEED AP of Prudetial | IPG Commercial Real Estate.  The property is located at 6096 S. Fort Apache Rd.

APN # 163.32.212.023

Las Vegas, 89109

Multi-Family

Robert Jules Nevada Holding, LLC purchased the Van Patten Apartments, a 35-unit apartment complex, from Bank of America, N.A. for $405,000 or $11,571 per unit.  The seller was represented by Geoffrey West of CB Richard Ellis.  The property is located at 2636 – 2656 Van Patten St.

APN # 162.10.112.013 et al

Las Vegas, 89109

Multi-Family

First Western Realty purchased the Sherwood Apartments, a 30-unit complex, from Bank of America, N.A. for $300,000 or $10,000 per unit.  The seller was represented by Geoffrey West of CB Richard Ellis.  The property is located at 2640-2660 Sherwood St.

APN # 162.10.113.014

North Las Vegas, 89081

Industrial

Marco Washburn Realty, LLC purchased a 4,075 SF office/warehouse building from Kirkwood Bank & Trust Co. for $250,000 or $61 PSF.  The tenant was represented by Dean Willmore, SIOR of Prudential | IPG Commercial Real Estate and the landlord was represented by Colliers International.  The property is located at 2559 E. Washburn Rd.

APN # 124.36.312.012

North Las Vegas, 89030

Vacant Land

Las Vegas Paving Corp. purchased 16.27 acres of industrial land from KKB Holdings, LLC for $4.95 million or $7 PSF.  The seller was represented by David Scherer, Barton Hyde, Michael Hsu and Matt Kreft of Grubb & Ellis | Las Vegas.  The property is located at 3752 N. Bruce St.

APN # 139.11.601.001

Las Vegas, 89101

Vacant Land

Picard Corporation purchased 0.72 acres from Al Tramonto, LLC for $269,032 or $9 PSF.  The buyer was represented by Bob Hawkins of Commerce Real Estate Solutions.  The property is located on Englestad near Gowan.

APN # 139-10-310-016

LEASES

Henderson, 89014

Office

ConAm Management Corporation leased 5,562 SF in the Green Valley Professional Center from Green Valley Associates, LLC for $662,661 on a 64-month lease.  The landlord was represented by Jayne Cayton and Bret Davis of CB Richard Ellis.  The property is located at 2501 N. Green Valley Pkwy.  Reported monthly rent is $1.86 PSF.

Henderson, 89074

Office

Ardyss International, Inc. leased 13,949 SF of Class A office from American Nevada Company for $1,036,550 on a three-year lease.  The tenant was represented by Laura Hart of Prudential | IPG Commercial Real Estate.  The property is located at 2275 Corporate Circle.  Reported monthly rent is $2.06 PSF.

Las Vegas, 89101

Office

LG Battery, Inc. leased 9,600 SF from Afriat Investment, Inc. for $187,200 on a three-year lease.  The tenant and landlord were both represented by Shawn Barashy of Lee & Associates.  The property is located at 914 and 918 B S. Main St.  Reported monthly rent is $0.54 PSF.

Las Vegas, 89107

Office

Total Renal Care, Inc. leased 11,995 SF from Meadows-Zim, LLC for $3,382,590 on a 15-year lease.  The tenant was represented by Bruce Follmer and Carla Cole of CB Richard Ellis.  The property is located at 150 S. Valley View Blvd.  Reported monthly rent is $1.57 PSF.

Las Vegas, 89119

Office

RMI Management, LLC sub-leased 12,077 SF from Spencer Consulting, Inc. for $195,648 on a one-year lease.  The landlord was represented by Liz Clare, CCIM of Commerce Real Estate Solutions.  The property is located at 630 Trade Center.  Reported monthly rent is $1.35 PSF.

Las Vegas, 89123

Office

daData, Inc. leased 11,100 SF from Barclay Las Vegas, LLC for $526,140 on a 39-month lease.  The landlord was represented by Jayne Cayton and Bret Davis of CB Richard Ellis.  The property is located at 325 E. Warm Springs Rd.  Reported monthly rent is $1.22 PSF.

Las Vegas, 89128

Office

Trial Vantage, LLC leased 6,996 SF in City Center West from Westlake City Center, LLC for $900,067 on a five-year lease.  The tenant was represented by Peter Hellman of Trial Vantage, LLC and the landlord was represented by David Scherer, Barton Hyde, Michael Hsu and Matt Kreft of Grubb & Ellis | Las Vegas.  The property is located at 7251 W. Lake Mead Blvd., Suite 100.  Reported monthly rent is $2.14 PSF.

Las Vegas, 89145

Office

David J. Winterton & Associates, LLC leased 5,838 SF from Westcliff Invesments, LLC for $195,951 on a 39-month lease.  The tenant was represented by CB Richard Ellis’ Darren Lemmon and the landlord was represented by CB Richard Ellis’ Amy Lance.  The property is located at 211 N. Buffalo Dr.  Reported monthly rent is $0.86 PSF.

North Las Vegas, 89032

Retail

Las Vegas Surf Company leased 5,885 SF from the Red Rock Shopping Center for $1,198,493 on a seven-year lease.  The landlord was represented by David Afromsky of Commerce Real Estate Solutions.  The property is located at 1435 W. Craig Rd., Suite D.  Reported monthly rent is $2.42 PSF.

Las Vegas, 89101

Retail

Azul Tequila leased 8,000 SF from Seventh Street Properties for $737,614 on a five-year lease.  The tenant was represented by Frank Elam of Vegas Valley Commercial and the landlord was represented by Ron McMenemy and Mary Towns of McMenemy Investment Services.  The property is located at 111, 115 and 117 N. 7th St.  Reported monthly rent is $1.54 PSF.

Las Vegas, 89102

Retail

Original Pancake House leased 5,700 SF from Southwestern Holdings, LLC for $531,960 on a five-year lease.  The tenant was represented by Stephan Freudenberger of OPH and the landlord was represented by Nelson Tressler of Grubb & Ellis | Las Vegas.  The property is located at 4833 W. Charleston Blvd.  Reported monthly rent is $1.56 PSF.

Las Vegas, 89103

Retail

Vegas Valley Food & Beverage, LLC leased 10,000 SF on 1.44 acres from 3MO, LLC for $1,920,000 on a four-year lease.  The landlord was represented by Grant Traub and Keith Cubba of Colliers International.  The property is located at 4710 and 4740 Arville St.  Reported monthly rent is $4.00 PSF.

Las Vegas, 89118

Retail

Hanin Enterprises, Inc. leased 7,430 SF from WW & JJ Choi, LLC for $301,800 on a three-year lease.  The tenant was represented by Twainy & Associates and the landlord was represented by Robin Civish of Prudential | IPG Commercial Real Estate.  The property is located at 5035 S. Decatur Blvd., Suite 100.  Reported monthly rent is $1.13 PSF.

Las Vegas, 89128

Retail

Bikrim Yoga Centennial Hills leased 4,229 SF from Durango Structures, LLC for $1,198,595 on a ten-year lease.  The landlord was represented by Dan Hubbard and Bob Hawkins of Commerce Real Estate Solutions.  The property is located at 6440 N. Durango Dr., Building B.  Reported monthly rent is $2.36 PSF.

Las Vegas, 89156

Retail

Ready! Set! Learn! leased 6,200 SF from George Vontobel Living Trust for $761,532 on a ten-year lease.  The landlord was represented by David Patten of Commerce Real Estate Solutions.  The property is located at 5320 E. Lake Mead.  Reported monthly rent is $1.02 PSF.

Henderson, 89014

Industrial

Ocean Spray Cranberries, Inc. leased 100,693 SF from Blevans Industrial Associates, Inc. for $226,560 on a five-month lease.  The tenant was represented by Michael De Lew, SIOR and Greg Pancirov, SIOR of Colliers International and the landlord was represented by Dan Doherty, SIOR, David Frear, SIOR and Patti Dillon of Colliers International.  The property is located at 880 Wigwam Pkwy., Suites 100, 130 and 140.  Reported monthly rent is $0.45 PSF.

North Las Vegas, 89030

Industrial

Moen, Inc. leased 219,068 SF from G & O Leasing Company, LLC for $5,884,166 on a seven-year lease.  The tenant was represented by CB Richard Ellis’ Greg Tassi.  The property is located at 4335 Arcata Way.  Reported monthly rent is $0.32 PSF.

North Las Vegas, 89030

Industrial

Silverstate Automotive, LLC leased 6,162 SF from Synergy Properties for $82,000 on a three-year lease.  The tenant was represented by Joe Griffis of Griffis Realty and the landlord was represented by Chris Jensvold of Colliers International.  The property is located at 15 W. Brooks Ave.  Reported monthly rent is $0.37 PSF.

Henderson, 89074

Industrial

The Goodyear Tire & Rubber Company renewed its lease of 16,850 SF from Gubler & Gubler, LLC for $465,060 on a five-year lease.  The tenant was represented by Pat Marsh, SIOR and Eric Molfetta of Colliers International and 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. Suite I.  Reported monthly rent is $0.46 PSF.

Las Vegas, 89103

Industrial

Bad Ass Golf Carts, Inc. leased 7,200 SF from RJP LV II, LLC for $133,971 on a three-year lease.  The tenant was represented by Dave Evenhouse of Lee & Associates and the landlord was represented by Maria Schifano of Schifano & Associates.  The property is located at 3620 S. Highland.  Reported monthly rent is $0.52 PSF.

Las Vegas, 89109

Industrial

Silverlands leased 6,000 SF from Highland Industrial Park Partners for $59,040 on a two-year lease.  The landlord was represented by Tedd Rosenstein, CCIM of Nevada Development & Realty Co.  The property is located 2901 S. Highland Dr.  Reported monthly rent is $0.41 PSF.

Las Vegas, 89113

Industrial

The Steel Network, Inc. leased 31,410 SF in the Arroyo North Business Center, Phase II from EJM Arroyo North II Property, LLC for $556,832 on a three-year lease.  The tenant was represented by Bonnie Densmore of Win Win Real Estate and the landlord was represented by Spencer Pinter of Colliers International.  The property is located at 6625 Arroyo Springs St., Suite 140.  Reported monthly rent is $0.49 PSF.

Las Vegas, 89115

Industrial

Sears, Roebuck and Co. renewed its lease of 27,750 SF from Roberts Ranch Venture, LP for $631,272 on a five-year lease.  The landlord was represented by Dan Doherty, SIOR and Patti Dillon of Colliers International.  The property is located at 4320 N. Lamb Blvd.  Reported monthly rent is $0.38 PSF.

Las Vegas, 89118

Industrial

Remote Access Technologies leased 7,656 SF from Reiss Marital Deduction Trust for $108,500 on a three-year lease.  The tenant was represented by Ron McMenemy of McMenemy Investment Services and the landlord was represented by Michael Reiss of Reiss Company.  The property is located at 3525 W. Post Rd.  Reported monthly rent is $0.39 PSF.

Las Vegas, 89118

Industrial

Financial Consulting and Trading International, Inc. leased 7,982 SF from SLH Procyon, LLC for $152,297 on a three-year lease.  The tenant was represented by David Afromsky of Commerce Real Estate Solutions and the landlord was represented by Michael Sumiyoshi of Southwestern Management & Realty Team.  The property is located at 5975 Procyon St.  Reported monthly rent is $0.53 PSF.

Las Vegas, 89118

Industrial

Off the Wall Framing & Supply, LLC leased 6,980 SF from Roberts Ranch Venture, LP for $136,638 on a three-year lease.  The tenant was represented by Jeff Satterlee of Rezults Realty and the landlord was represented by Dan Doherty, SIOR and Patti Dillon of Colliers International.  The property is located at 5530 Valley View Blvd., Suites 101 and 102.  Reported monthly rent is $0.54 PSF.

Las Vegas, 89119

Industrial

Science Application International Corporation leased 13,440 SF from EJM Spencer Helm Property, LLC for $471,431 on a 58-month lease.  The tenant was represented by Jillian Coons and Anita Turner of Jones Lang LaSalle and the landlord was represented by Spencer Pinter of Colliers International.  The property is located at 1660 Helm Dr., Suites 700 and 800.  Reported monthly rent is $0.60 PSF.

Las Vegas, 89139

Industrial

Assured Document Destruction, Inc. sub-leased 6,250 SF from Akzo Nobel paints, LLC for $85,976 on a 37-mont lease.  The tenant was represented by CB Richard Ellis’ Karolina Janik.  The property is located at 8050 Arville St.  Reported monthly rent is $0.37 PSF.

LOANS

Las Vegas

Retail

Bill Wilson, CCIM of Nevada State Development Corporation helped secure financing for a $2.7 million SBA 504 loan for Colleen’s Classic Consignment at a 4.99% interest rate.  The loan was used to purchase a 21,000 SF building for the retail store.

Las Vegas, 89103

Retail

Kyle Nagy of CommCap Advisors secured financing for FAP, LLC for a $1.7 million loan.  The 12-year, fully amortizing, fixed-rate loan is secured by Flamingo Arville Plaza, a 32,954 SF, two-building retail center.  The center is located on the southwest corner of Flamingo Rd. and Arville St.

Las Vegas, 89123

Multi-Family

Devin Lee, CCIM of Access Commercial Mortgage secured financing for the Paradise Trails Mobile Home Park.  The 136-pad park was constructed in 1992.  The $3 million non-recourse loan has a 10-year term and a 25-year amortization schedule.  Financing was secured at a 6.12% interest rate.  The park is located at 2485 W. Wigwam Ave.