ReD Report - June 2010

ReD Report

Deal Tracker

PROJECTS

Las Vegas, 89128

Office

Kitrell Jensen Contractors completed the renovation of a six-story Mountainview Medical Office building.  The project incorporated green elements and is located at Cheyenne and Tenaya.

Las Vegas, 89141

Office

Yack Construction, Inc. has completed tenant improvement work for Cardiovascular Surgery of Southern Nevada.  The project included a 5,067 SF interior build-out.  The project is located at 5380 S. Rainbow Blvd, Building 2.

Las Vegas, 89169

Office

Yack Construction, Inc. has completed tenant improvement work for Gordon Rees.  The project consisted of a 6,411 SF build-out.  The office is located in the Hughes Center at 3770 Howard Hughes Pkwy., Suite 100.

Henderson, 89052

Retail

Alan Jeskey Builders, Inc.  has been awarded two projects at St. Rose and Maryland Pkwy.  The first is a tenant improvement project for Dotty’s #42, a 4,000 SF tavern/gaming establishment.  Additionally, the company has been contracted to complete all the wet and dry utilities, grading and paving, curbs, gutters and sidewalks.  

Las Vegas, 89118

Retail

Kitrell Jensen Contractors completed a 2,000 SF retail clothing store tenant improvement project.  The project was designed by Commercial Design Group.  The property is located at 7620 S. Las Vegas Blvd.

Las Vegas, 89115

Government

Burke & Associates, Inc. has completed the Las Vegas Metropolitan Police Department’s Northeast Area Command Substation.  The 22,768 SF property was built on 4.61 acres on behalf of Clark County Real Property Management.  KGA Architect was the project architect for the $7 million building.  The property is located at 3750 Cecile Ave, between Pecos and Walnut.

SALES

Las Vegas, 89104

Multi-Family

Clifford Place, LLC purchased a 44-unit, two-building apartment complex from City National Bank for $585,000 or $13,295 per unit.  The buyer was represented by Marcus & Millichap.  The property is located at 2433 and 2437 Clifford Ave.  

APN # 162.01.111.034

North Las Vegas, 89030

Industrial

Richard B. Laatz purchased 5,690 SF in the Brookspark Industrial Park from Wells Fargo Bank, N.A. for $380,000 or $67 PSF.  The buyer was represented by Jason Griffis of Griffis Realty and the seller was represented by Michael De Lew, SIOR and Greg Pancirov, SIOR of Colliers International. The property is located at 34 W. Mayflower Ave.  

APN # 139-15-612-020

Las Vegas, 89183

Multi-Family

Re Capital Partners, LLC purchased 72,500 SF from Zions First National Bank for $2 million or $28 PSF.  The buyer was represented by Gary Banner, CCIM and Garry Cuff, CCIM of Commerce/Cushman & Wakefield.  The property is located at 717 Lily Lane.

Henderson, 89052

Vacant Land

Kennedy Capital Uno, LLC purchased 3.93 acres of land from City National Bank for $650,000 or $4 PSF.  The seller was represented by Charles Moore, Christina Roush and Marlene Fujita of CB Richard Ellis.  The property is located west of the northwest corner of Eastern Ave. and Pecos Ridge Pkwy.

APN # 177-36-812-002

LEASES

North Las Vegas, 89030

Office

Preferred Contracting, Inc. leased 8,000 SF from B & S Holdings, LLC for $39,948 on a one-year lease.   The landlord was represented by Soozi Jones Walker, CCIM, SIOR and Bobbi Miracle, CCIM of Commercial Executives.  The property is located at 19 W. Brooks Ave.  Reported monthly rent is $0.42 PSF.

Las Vegas, 89117

Office

Realty One Group leased 8,177 SF in the Buffalo Professional Center from Buffalo Professional Center for $98,124 on a one-year lease.  The landlord was represented by Tedd Rosenstein, CCIM of Nevada Development & Realty Co.  The property is located at 1333 N Buffalo, Suites 170 and 190.  Reported monthly rent is $1.00 PSF.

Las Vegas, 89119

Office

Farmers Insurance Exchange leased 9,518 SF in the Greystone Office Park from Truck Underwriters Association for $806,809 on a five-year lease.  The tenant was represented by Chuck Witters, SIOR and Kris Watier of Lee & Associates.  The landlord was represented by Michael Koontz and Dean Kaufman of Colliers International.  The property is located at 2030 E. Flamingo Rd.  Reported monthly rent is $1.41 PSF.

Las Vegas, 89113

Retail

Water Wings Swim School leased 4,500 SF of space in the Crossroads Plaza Shopping Center from the Birkeland Family Delaware, LLC 1 and Birkeland Family Delaware, LLC IV 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 was represented by Michael Kammerling of Grubb & Ellis | Las Vegas in both transactions.  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.

Henderson, 89011

Industrial

Bassett Furniture leased 6,516 SF from Harsch Investment Properties for $81,388 on a three-year lease.  The landlord was represented by Brian Riffel of Colliers International.  The property is located at 480 Mirror Court, Suite 108.  Reported monthly rent is $0.35 PSF.

North Las Vegas, 89081

Industrial

Central Transport, LLC leased 17,700 SF from Accordance Donovan, LLC for $352,362 on a three-year lease.  The tenant was represented by Michael Lyons and Benjamin Millis of Grubb & Ellis | Las Vegas and the landlord as represented by Perry Muscelli and Esther Peres of Kennedy Wilson.  The property is located at 4610 Donovan Way.  Reported monthly rent is $0.55 PSF.

Las Vegas, 89103

Industrial

AHS Group leased 8,872 SF in the Arville Business Park from TNP Notes Arville, LLC for $100,356 on a four-year lease.  The landlord was represented by Susan Borst, CCIM and Bill Walsh of Commerce/Cushman & Wakefield.  The property is located at 4350 S. Arville, Building 1, Suites 9 and 10.  Reported monthly rent is $0.25 PSF.

Las Vegas, 89103

Industrial

Fresh Produce, Inc. leased 19,473 SF from Unruh Commercial, LLC for $324,000 on a three-year lease.  The tenant was represented by Spencer Pinter of Colliers International and the landlord was represented by Jeff Barton, Richard Luciani and Elizabeth Moore of Grubb & Ellis | Las Vegas.  The property is located at 4670 Arville St.  Reported monthly rent is $0.46 PSF.

Las Vegas, 89115

Industrial

Agile Trade Show Furnishing leased 13,520 SF from Roberts Ranch Venture, LP for $137,879 on a 38-month lease.  The tenant and landlord were both represented by Dan Doherty, SIOR and Patti Dillon of Collier s International.  The property is located at 4320 N. Lamb Blvd.  Reported monthly rent is $0.27 PSF.

Las Vegas, 89117

Industrial

Regal-Piedmont Plastics, LLC leased 8,535 SF from EJM Arroyo North II Property, LLC for $161,448 on a three-year lease.  The tenant was represented by Brian Seibold of Lee & Associates and the landlord was represented by Spencer Pinter of Colliers International.  The property is located at 6560 S. Tioga Way, Suite 130.  Reported monthly rent is $0.53 PSF.

Las Vegas, 89130

Industrial

Tekna Office Systems, LLC leased 10,560 SF in the VenturePoint Speedway from Orange County Business Bank for $67,573 on a two-year lease. The tenant was represented by Joe Leavitt of Lee & Associates and the landlord was represented by Xavier Wasiak, SIOR and Kara Walker, CCIM of Grubb & Ellis | Las Vegas.  The property is located at 6226 E. Tropical Pkwy.  Reported monthly rent is $0.27 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.

LOANS

Las Vegas, 89106

Office

Tony Castrignano of Sky Mesa Capital arranged for the re-finance of a six building, 73,444 SF property for 801 Rancho, LLC.  The loan was for 61% loan-to-value at an interest rate of 6.9% with a 10 year loan term.

Las Vegas, 89119

Office

Tony Castrignano of Sky Mesa Capital arranged for the re-finance of a multi-tenant office building for 4530-4570 Eastern, LLC.  The loan was for 65% loan-to-value at an interest rate of 6.25% for a five-year loan term.  The property consists of three buildings totaling 34,685 SF.