ReD Report - July 2010

ReD Report

PROJECTS

Carson City, 89701

Retail

Shaheen Beauchamp Builders, LLC has completed the renovation of the Jackpot Crossing Casino, formerly the Silver Dollar Casino.  The 20,000 SF building had extensive exterior work done and upgrades to the mechanical and electrical systems and interior finishes.  The project was designed by Frank Woodliff, architect of Fallon.  The property is located at 1897 Edmonds Dr.

Henderson, 89183

Other

Alan Jeskey Builder, Inc. has completed work on the St. Rose Offsite project.  The project consists of curbs, gutters and sidewalks, light poles and the addition of a storm drain.  The project is located at St. Rose and Maryland Pkwy.

SALES

Reno, 89509

Mixed-Use

Moana Nursery purchased a 5,000 SF retail store and a 7,084 SF office building from Sprenger & Sprenger and Moana Investments, LLC for $2,486,204 or $206 PSF.  The properties are located at 1100 W. Moana Ln and 3520 Clover Way, respectively.

APN # 023-131-33 and 023-131-19

Reno, 89502

Office

WIC Holdings, LLC purchased a 4,820 SF building from Janice Carr Picioni d.b.a. House of Black and White for $400,000 or $83 PSF.  The seller was represented by Fred Jayet of Stark & Associates Commercial Real Estate, TCN Worldwide.  The property is located at 22 Martin St.

APN # 014-063-04

Reno, 89509

Retail

Cassinari Enterprises, LLC purchased a 3,280 SF restaurant built in 1980 from Nevada Pizza Village Association, LLC for $740,000 or $226 PSF.  The property is located at 3600 Lakeside Dr.

APN # 024-121-15

Las Vegas, Multiple

Multi-Family

Strategic Realty Capital purchased a three multi-family property portfolio totaling 475-units from Leeward Strategic Properties, Inc. for $10,575,000 or $22,263 per unit.  The seller was represented by Spencer Ballif and Jeff Swinger of CB Richard Ellis.  The portfolio consists of Paradise Square, located at 4801 Harrison Dr., Bella Estates, located at 5101 E. Twain Ave. and Regency Heights, located at 3650 E. Lake Mead Blvd.  

APN # 162-24-402-001, 161-16-301-002 and 140-19-202-003, respectively

Las Vegas, 89108

Multi-Family

R.E.I.S. (Invest 11), LLC purchased Canyon Creek Apartments, a 215-unit apartment complex, from Bank of America, N.A. for $7,250,000 or $33,721 per unit.  The seller was represented by Spencer Ballif and Jeff Swinger of CB Richard Ellis.  The property is located at 2700 N. Rainbow Blvd.  

APN # 138-14-316-000 et al

Las Vegas, 89118

Industrial

FCERJLT1, LLC purchased a 12,044 SF two-story industrial property from Three Buildings, LLC for $1,083,960 or $90 PSF.  The buyer was represented by Amy Ogden of Prudential | IPG Commercial and the seller was represented by Insight Realty Associates.  The property is located at 6435 Karms Park Court.

APN # 163-35-811-002

Reno, 89501

Industrial

Afrayed End Production, Ltd. purchased a commercial property consisting of a 9,500 SF building on 16,858 SF of land and 15.88 acre feet of water rights from Pureline, Inc. for $775,000.  The buyer was represented by Keller Realty and the seller was represented by Ken Stark and Fred Jayet of Stark & Associates Commercial Real Estate, TCN Worldwide.  The property is located at 901 S. Center St.

APN # 011-334-15

Reno, 89502

Industrial

Lillaney 2004 Irrevocable Trust purchased a 5,000 SF industrial flex building from Eric and Karen Petersen for $516,000 or $103 PSF.  The property is located on Joule St.

APN # 012-431-19

Reno, 89502

Industrial

Hidden Valley Tech Center, LLC purchased 72,329 SF of industrial flex space from Reno Investor, LLC for $12.4 million or $171 PSF.  The property is located at 1140, 4170 and 1150 Financial Blvd.

APN # 012-403-05, 02 and 06, respectively

LEASES

Las Vegas, 89118

Office

Silver State Title purchased 4,675 SF of two-story office space from LeHigh Nevada Corporation for $175,122 on a three-year lease.  The tenant was represented by Laura Hart of Prudential | IPG Commercial and the landlord was represented by Art Farmanali, SIOR of Prudential | IPG Commercial.  The property is located at 5230 W Patrick Lane, Suites 200 – 220.  Reported monthly rent is $1.04 PSF.

Las Vegas, 89119

Office

Plus 6 Technologies, LLC leased 3,570 SF from McCarran, LLC for $112,452 on a three-year lease.  The tenant was represented by Dana Berggren, LEED AP, CCIM of Prudential | IPG Commercial and the landlord was represented by Colliers International.  The property is located at 385 Pilot Rd., Suite B.  Reported monthly rent is $0.87 PSF.

Las Vegas, 89128

Office

Arizona Kidney Disease and Hypertension Center, LLC leased 4,000 SF from Zority-Quan, LLC for $384,000 on a five-year lease.  The tenant was represented by David Scherer, Barton Hyde, Michael Hsu and Matthew Kreft of Grubb & Ellis | Las Vegas and the landlord was represented by S. Bruce Parker and Melanie Braud of Parker Realty.  The property is located at 2420 Professional Court.  Reported monthly rent is $1.60 PSF.

Las Vegas, 89123

Office

Clear Wireless, LLC leased 27,754 SF from NW Spectrum Co. for $1,979,954 on a five-year lease.  The landlord was represented by Marlene Fujita and Randy Broadhead, SIOR of CB Richard Ellis.  The property is located at 8645 S. Eastern Ave.  Reported monthly rent is $1.19 PSF.

Las Vegas, 89148

Office

DCO Energy, LLC leased 3,972 SF from Beltway One Development Group, LLC for $250,236 on a three-year lease.  The tenant was represented by Lisa Bodine of ReMax Associates and the landlord was represented by Soozi Jones Walker, CCIM, SIOR and Bobbi Miracle, CCIM of Commercial Executives.  The property is located at 9127 W. Russell Rd., Suite 117.  Repoted monthly rent is $1.75 PSF.

Las Vegas, 89117

Retail

Sin City Furniture leased 3,400 SF from O’Bannon Plaza, Inc. for $74,256 on a three-year lease.  The landlord was represented by Christina Strickland and Penny Mendlovic of CB Richard Ellis.  The property is located at 2223 S. Rainbow Blvd.  Reported monthly rent is $0.61 PSF.

Las Vegas, 89121

Retail

El Guanaco leased 2,160 SF in the Pecos-McLeod Plaza from Desert Inn Retail Plaza, LLC for $135,453 on a five-year lease.  The landlord was represented by Chris Godino of Grubb & Ellis | Las Vegas.  The property is located at 3050 E. Desert Inn Rd.  Reported monthly rent is $1.05 PSF.

Las Vegas, 89129

Retail

Harold’s Chicken Shack leased 2,400 SF in Cheyenne Fountains from Transwestern Investment Holdings Cheyenne Fountains, et al.  The tenant was represented by Sammi Caparelli of Realty Executives of Nevada and the landlord was represented by Chris Godino of Grubb & Ellis | Las Vegas.  The property is located at 7450 W. Cheyenne Ave.  Reported monthly rent is $1.20 PSF.

Las Vegas, 89030

Industrial

Republic Electric, Inc. leased 30,442 SF of tilt-up industrial space from LV Pecos, LLC for $663,550 on a seven-year lease.  The tenant was represented by Amy Ogden of Prudential | IPG Commercial and the landlord was represented by Colliers International.  The property is located at 3985 N. Pecos Rd.  Reported monthly rent is $0.26 PSF.

Las Vegas, 89118

Industrial

Windy City A/C & Heating, LLC leased 6,844 SF of tilt-up industrial space from BB2, LLC for $150,386 on a 61-month lease.  The landlord was represented by Adam Ballner and Danielle Steffen of Prudential | IPG Commercial.  The property is located at 6675 Schuster St.  Reported monthly rent is $0.36 PSF.

Las Vegas, 89118

Industrial

Fresenius USA Manufacturing, Inc. leased 3,970 SF in the Diamond Southwest Industrial Park from Diamond Post, LLC for $99,209 on a three-year lease.  The tenant was represented by Jerry Valdez of Grubb & Ellis | Las Vegas and the landlord was represented by Greg Pancirov and Michael De Lew of Colliers International.  The property is located at 3515 W. Post Rd., Suite 100.  Reported monthly rent is $0.69 PSF.

Las Vegas, 89118

Industrial

Superior Traffic Services Corporation leased 10,500 SF from JWC Enterprises, LLC for $151,585 on a three-year lease.  The tenant was represented by R. Keith Easton of Easton Business Opportunities and the landlord was represented by Soozi Jones Walker, CCIM, SIOR and Bobbi Miracle, CCIM of Commercial Executives.  The property is located at 4337 W. Sunset Rd., Building D.  Reported monthly rent is $0.40 PSF.

Las Vegas, 89147

Industrial

PCE Nevada, Inc. leased 5,200 SF from EJM Arroyo North 1 Property, LLC for $100,296 on a three-year lease.  The tenant was represented by Jeremy Green, Gabe Telles and Tyler Ecklund of CB Richard Ellis.  The property is located at 6555 S. Tenaya Way.  Reported monthly rent is $0.54 PSF.