ReD Report - May 2010

ReD Report

Deal Tracker

PROJECTS

Las Vegas, 89119
Office
The Korte Company is nearing completion on a 6,640 SF tenant improvement project for The Las Vegas Specialty Surgery Center.  The improvement includes operating rooms as well as pre-op and post-op stations.  TKC Design P.C. was the design-build architect for the project.  The center is located at 1569 E. Flamingo Rd.

Las Vegas, 89121
Office
Martin-Harris Construction has completed work on the Church of Scientology and Celebrity Centre renovation as well as the addition of a small building.  JMA Architect Studios was the executive architect for the 35,200 SF project.  The building is located at 2761 Emerson Rd., near Eastern and Desert Inn.

Fallon, 89406
Office
Shaheen Beauchamp Builders has begun work on a dental office tenant improvement for Wild About Smiles, Dr. Perry Francis.  The 2,000 SF project is expected to open on June 1st.  The dental office is located at 2152 Williams St.

North Las Vegas, 89084
Retail
Regency Center’s Deer Springs Town Center, a 517,370 SF shopping center, has achieved LEED certification for Core and Shell by the U.S. Green Building Council.  The project has been developed by Regency Center and is anchored by Target, Ross, The Home Depot and Staples.  The project is located at N. 5th St. and the I-215 Beltway.

North Las Vegas, 89030
Industrial
The Korte Company is nearing completion of a tenant improvement project for Cox Communications.  The warehouse will include a 10,000 SF office and conference room reconfiguration.  Additionally, the construction company is nearing completion of a 1,012 SF expansion of Cox Communications’ service yard which provides service to the company’s 45,234 SF customer service center.  The warehouse project marks Korte’s third tenant improvement project for Cox Communications and is expected to cost over $850,000.  The project is located at 985 Trade Dr.

SALES

North Las Vegas, 89030
Mixed-Use
Harris Real Estate Nevada, LLC purchased a 10,000 SF industrial building and a 7,800 SF office building on 2.6 acres of land from Denbeste Nevada Properties, LLC for $1.5 million or $84 PSF.  The buyer was represented by Dean Willmore, SIOR of Prudential | IPG Commercial Real Estate and the seller was represented by Hayim Mizrachi, Jarrad Katz and Gina Gamble of Prudential | IPG Commercial Real Estate.  The property is located at 2439 Losee Rd.
APN # 139-15-801-007

Henderson, 89014
Office
ProMotion purchased a 5,740 SF office building from Galleria Corporate Centre Building 17 for $350,000 or $61 PSF.  The seller was represented by Charles Moore, Christina Roush and Marlene Fujita of CB Richard Ellis.  The property is located at 375 N. Stephanie St., Building 17.
APN # 178-09-520-041

Las Vegas, 89147
Office
JC Landholding, LLC purchased 1,700 SF from McNicholas Properties, LLC for $275,000 or $162 PSF.  The seller was represented by Dana Berggren, LEED AP of Prudential | IPG Commercial Real Estate.  The property is located at 9179 W. Flamingo Rd., Suite 110.
APN # 163-20-117-015

Las Vegas, 89183
Office
Vegas Group, LLC purchased the 43,226 SF Silver Creek office complex from Silver Creek Office 1, LLC for $2,750,000 or $64 PSF.  The buyer was represented by Ned Zivkovic, Tina Taylor, Andy Glinski and Jacob Steele of Marcus & Millichap.  The property is located at 9708-9848 Gilespie St.
APN # 177-28-516-002 et al

Las Vegas, 89118
Retail
Challenger School purchased 17,221 square feet from BB & T Bank for $2.6 million or $151 PSF.  The seller was represented by Charles Moore and Marlene Fujita of CB Richard Ellis.  The property is located at 5150 N. Jones Blvd.
APN # 163-25-210-000

Henderson, 89014
Industrial
Bailes Family Trust purchased 33,724 SF from AML Development II for $5.9 million or $175 PSF.  The buyer was represented by Jeff Berg, Mica Berg, Ron Berg and Eric Tumbleson of NAI Las Vegas.  The property is located at 1710 Whitney Mesa.
APN # 161-32-710-026

Las Vegas, 89146
Multi-Family
DLSRP, LLC purchased the 50-unity Casa Salvatori Apartments from Quality Property Asset Management, LLC for $1,450,000 or $29,000 per unit.  The bank REO property was purchased in an all cash transaction.  The buyer was represented by Patrick Sauter of The Sauter Companies.  The property is located at 5001 El Parque Ave.
APN # 163-01-707-002

Las Vegas, 89118
Vacant Land
George Chamin purchased 2.06 acres from a private trustee for $350,000 or $4 PSF.  The buyer was represented by Gina Perry of Heritage Realty Co. and the seller was represented by Blake Payne of NAI Las Vegas.  The property is located at Post and El Camino.
APN # 163-35-701-009

LEASES

Las Vegas, 89118
Office
Republic Mortgage Ventures sub-leased 7,536 SF in the Beltway Business Park from Wyndam Vacation Ownership for $455,024 on a 54-month lease.  The tenant was represented by Joe Desimone of First Federal Realty and the landlord was represented by Michael Dunn, CCIM, SIOR and Alex Hayden of Commerce Real Estate Solutions, Cushman & Wakefield.  The property is located at 6795 Edmond St., Building 2, Suite 220.  Reported monthly rent is $1.10 PSF.

Las Vegas, 89147
Office
T-Mobile West Corporation leased 10,930 SF from MMC Properties, LLC for $997,505 on a 63-month lease.  The tenant was represented by Darren Lemmon of CB Richard Ellis.  The property is located at 4175 S. Riley St.  Reported monthly rent is $1.45 PSF.

Las Vegas, 89102
Retail
Buybacks Entertainment leased 4,000 SF from PK Sale, LLC for $432,000 on a five-year lease.  The landlord was represented by Scot Marker of Colliers International.  The property is located on the southeast corner of Decatur Blvd. and Sahara Ave.  Reported monthly rent is $1.80 PSF.

Las Vegas, 89113
Retail
Water Wings Swim School leased 4,500 SF at Crossroads Plaza Shopping Center from Birkeland Family Delaware, LLC for $581,830 on an 88-month lease.  The tenant was represented by Susan Shafshak of Re/Max Excellence.  Additionally, RPV Enterprises leased 4,700 SF in the Crossroads Plaza Shopping Center for $299,033 on a 63-month lease.  The landlord in both transactions was represented by Michael Kammerling of Grubb & Ellis | Las Vegas.  The properties are located at 4955 S. Fort Apache Rd., Suites 102-104 and 4985 S. Fort Apache Rd., Suite 105.  Reported monthly rents are $1.47 PSF and $1.01 PSF, respectively.

North Las Vegas, 89081
Industrial
Xtreme Green Products leased 33,750 SF from EJM Development for $682,764 on a five-year lease.  The tenant was represented by Amy Ogden of Prudential | IPG Commercial Real Estate and the landlord was represented by Spencer Pinter of Colliers International.  The property is located at 2191 Mendenhall Dr., Suite 101.  Reported monthly rent is $0.34 PSF.

North Las Vegas, 89081
Industrial
Big Time Vending, LLC leased 6,400 SF from Western Commercial Holdings for $27,456 on a one-year lease.  The tenant was represented by Brent Thompson of Realty Executives of Nevada and the landlord was represented by Linda Gonzales of Prudential | IPG Commercial Real Estate.  The property is located at 4040 Lone Mountain, Suites F & G.  Reported monthly rent is $ 0.36 PSF.

Las Vegas, 89115
Industrial
Tekna Office Systems, LLC leased 10,560 SF from Orange County Business Bank for $67,000 on a two-year lease.  The tenant was represented by Mel Koich, Joe Leavitt and Chris Lexis of Lee & Associates and the landlord was represented by Xavier Wasiak of Grubb & Ellis | Las Vegas.  The property is located at 6226 E. Tropical Pkwy.  Reported monthly rent is $0.26 PSF.

Las Vegas, 89118
Industrial
Las Vegas Premier, LLC leased 11,149 SF in the US Industrial Park from Gelobter Family Trust for $219,645 on a five-year lease.  The tenant was represented by Susan Borst, CCIM and Bill Walsh of Commerce Real Estate Solutions, Cushman & Wakefield and the landlord was represented by Bryan Houser of Albright Callister & Associates.  The property is located at 5225 S. Valley View Blvd., Stuies 3-6.  Reported monthly rent is $0.33 PSF.

Las Vegas, 89139
Industrial
UBC Enterprises, Inc. leased 5,756 SF from La Costa Canyon, LLC for $115,014 on a 38-month lease.  The landlord was represented by Michael Lyons and Benjamin Millis of Grubb & Ellis | Las Vegas.  The property is located at 5900 La Costa Canyon Court.  Reported monthly rent is $0.53 PSF.