ReD Report - August 2010

ReD Report

Deal Tracker

PROJECTS

Reno, 89512

Mixed-Use

Pinecrest Construction and Development is building the Stanley James Walker animal shelter.  The 17,000 SF facility is expected to be complete in the second quarter of 2011.  CWX Architects, Inc. is the architect for the project and Gabbart and Woods Structural Engineers is the engineer.  The project is located at 4950 Spectrum Blvd.  

Battle Mountain, 89820

Mixed-Use

Shaheen Beauchamp Builders, LLC has completed the expansion and renovation of the emergency room and long-term care facilities at Battle Mountain General Hospital.  The project is located at 535 S. Humboldt St.

Henderson, 89015

Government

R & O Construction has completed work on the Gibson Library for Henderson.  The 9,919 SF library has a 25-station computer lab.  RSJ Architecture assisted on the project located at 100 W. Lake Mead Pkwy.

Las Vegas, 89101

Government

Hardy Construction has been awarded the contract to build the 41,000 SF Mob Museum for the City of Las Vegas.  The contract is for $7.1 million, the entire project is expected to cost $42 million.  The museum will be located at 300 Stewart Ave.

SALES

Las Vegas, 89101

Office

Robert Brandy purchased 5,050 of fully-occupied office space from Bank of America for $700,000 or $139 PSF.  The seller was represented by Charles Moore, Christina Roush and Marlene Fujita of CB Richard Ellis.  The property is located at 611 S. 6th St.

APN # 139-34-410-221

Las Vegas, 89119

Office

Strategic Investment & Consulting, LLC purchased a 2,093 SF office property from US Bank National Association for $209,000 or $100 PSF.  The buyer was represented by Mario Sanchez of ACRES Commercial and the seller was represented by Miriam Campos-Root of NAI Las Vegas.  The property is located at 6785 S. Eastern Ave., Suite 6.

APN # 177-02-613-000

Las Vegas, 89108

Retail

KT Lomboy, LLC purchased 30,901 SF from LEASCO, LLC for $1,736,000 or $56 PSF.  The buyer was represented by Charles Taylor of MarTec Commercial Real Estate and the seller was represented by Michael Kammerling of Grubb & Ellis | Las Vegas.  The property is located at 3130 N. Rainbow Blvd.

APN # 138-14-101-006

Henderson, 89015

Industrial

Pioneer Post, LLC purchased 19,786 SF with one acre of land from PF 1 Buffalo, LLC for $1,850,000.  The buyer was represented by Kara Walker, CCIM of Grubb & Ellis | Las Vegas and the seller was represented by Pat Marsh, SIOR of Colliers International.  The property is located at 6275 S. Pioneer Way.

APN # 163-34-313-002

Las Vegas, 89118

Industrial

Jerry Dean purchased 13,362 SF from Zions Bank for $950,000 or $71 PSF.  The seller was represented by Brian Riffel of Colliers International.  The property is located at 4705 and 4717 W. Post Rd., Suite 100.

APN # 162-31-412-005 et al

Henderson, 89015

Multi-Family

Level II Capital, LLC purchased a 68-unit multi-family complex from Michael and Julia Blum for $1,410,000 or $20,735 per unit.  The seller was represented by Gary Banner of Commerce/Cushman & Wakefield.  The property is located at 730 Center St.

APN # 179-17-511-049

Las Vegas, 89104

Multi-Family

The Siegel Group Las Vegas, LLC purchased the 64-unit Charleston Plaza Apartments from Gateway Las Vegas, LLC for $1,750,000 or $27,344 per unit.  Patrick Sauter of The Sauter Companies was the broker for the transaction.  The property is located at 401 E. Charleston Blvd.

APN # 139-34-410-138

Las Vegas, 89109

Multi-Family

Robert Jules Nevada Holdings, LLC purchased an eight unit multi-family property from Zion’s First National Bank for $150,000 or $18,750 per unit.  The buyer was represented by Art Carll of NAI Las Vegas.  The property is located at 2626 Van Patten.

APN # 162-10-112-014

Las Vegas, 89119

Multi-Family

Gundlach, Guy David purchased the 36-unit Twain Palms apartment complex from CRP Properties, Inc. for $600,000 or $16,667 per unit.  The seller was represented by Michael LaBar and Evan Griffith of Marcus & Millichap.  The property is located at 651 E. Twain Ave.  

APN # 162-15-31-047

Las Vegas, 89146

Multi-Family

DLSVWA, LLC purchased the 50-unit Virginia West Apartments from Five Aces Rental Housing, LLC for $1,725,000 or $34,500 per unit.  Patrick Sauter of The Sauter Companies was the broker for the transaction.  The property is located at 5000 El Parque.

APN # 163-01-703-001

Henderson, 89015

Land

Venture 3822 Henderson, LLC purchased 6.29 acres from BFJJ Horizon, LLC for $5,231,000 or $19 PSF.  The seller was represented by Keith Spencer and Derek Rafie of CB Richard Ellis.  The property is located on Boulder Highway near Racetrack Rd.

APN # 179.21.301.001 et al

Las Vegas, 89101

Land

Peter D Luster Trust purchased 0.18 acres from US Bank National Assoc. as trustee for $240,000 or $31 PSF.  The buyer and seller were both represented by Art Carll of NAI Las Vegas.  The property is located at 1054 S. Main St.

APN # 139-33-811-012

Las Vegas, 89113

Land

In-N-Out Burger purchased 3.54 acres of industrial land from CPI Three, LLC for $2,058,256 or $13 PSF.  The site will be used as a distribution center.  The seller was represented by Dan Doherty, SIOR and E.J. Paul Sweetland, IV, SIOR of Colliers International and the buyer was represented by Dan Doherty, SIOR and Patti Dillon of Colliers International.  The property is located at 6450 Montessouri St.

APN # 163-34-810-041

LEASES

Las Vegas, 89113

Office

Farmer’s Insurance Exchange leased 7,744 SF from EJM Arroyo Corporate Center 1 & 2 Properties, LLC for $970,726 on a five-year lease.  The tenant was represented by Brad Peterson, SIOR of CB Richard Ellis and the landlord was represented by Chuck Witters, SIOR and Kris Watier of Lee & Associates.  The property is located at 7455 Arroyo Crossing Pkwy.  Reported monthly rent is $2.09 PSF.

Las Vegas, 89119

Office

Critical Care Systems, Inc. leased 6,314 SF from McCarran Center, LLC for $594,283 on a 62-month lease.  The tenant was represented by CB Richard Ellis’ Darren Lemmon. The property is located at 505 Capovilla Ave.  Reported monthly rent is $1.52 PSF.

Las Vegas, 89144

Office

Travelscape, Inc. leased 10,678 SF from 10190 Covington Cross, LLC for $475,178 on a 28-month lease.  The landlord was represented by CB Richard Ellis’ Randy Broadhead, SIOR.  The property is located at 10190 Covington Cross Dr.  Reported monthly rent is $1.59 PSF.

Las Vegas, 89148

Office

State of Nevada, Public Utilities Commission leased 14,000 SF from LaPour 215, LLC for $3,518,620 on a nine-year lease.  The tenant was represented by Dave Scherer, Barton Hyde, Michael Hsu and Matthew Kreft of Grubb & Ellis | Las Vegas and the landlord was represented by Michael De Lew, SIOR and Greg Pancirov, SIOR of Colliers International.  The property is located at 9075 W. Diablo Dr., Suite 250.  Reported monthly rent is $2.33 PSF.

Las Vegas, 89169

Office

Pisanelli Bice, LLC leased 7,885 SF from Agassi Enterpries, Inc. for $840,935 on a 53-month lease.  The landlord was represented by Brad Peterson, SIOR of CB Richard Ellis.  The property is located at 3883 Howard Hughes Pkwy.  Reported monthly rent is $2.01 PSF.

Las Vegas, 89169

Office

THI of NV at Desert Valley Therapy, LLC leased 8,865 SF from William P. Floyd, LP for $695,459 on a 67-month lease.  The tenant was represented by CB Richard Ellis’ Bruce Follmer and Carla Cole.  The property is located at 1950 E. Desert Inn Rd.  Reported monthly rent is $1.17 PSF.

Las Vegas, 89169

Office

Wells Fargo Advisors leased 7,064 SF of office space from MS Crescent 2752/3768 Hughes for $1,146,345 on a 63-month lease.  The tenant was represented by John Acker and Kent Johns of NAI Las Vegas and the landlord was represented by Tom Stilley of Colliers International.  The property is located at 3763 Howard Hughes Pkwy., Suite 330.  Reported monthly rent is $2.58 PSF.

Henderson, 89014

Retail

Sonoran BBQ, LLC leased 6,650 SF from Mall Ring Magic for $4,408,915 on a 20-year lease.  The tenant was represented by Brian Sorrentino of R.O.I. Commercial Real Estate, Inc. and the landlord was represented by Scot Market of Colliers International.  The property is located at 651 Mall Ring Circle.  Reported monthly rent is $2.76 PSF.

Las Vegas, 89102

Retail

Davinci’s Pasta Factory, Inc. leased 4,200 SF from PK Sale, LLC for $138,600 on a three-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 $0.92 PSF.

Las Vegas, 89104

Retail

Maurel Bridal leased 3,500 SF from DHZ Development, Inc. for $213,750 on a five-year lease.  The tenant and landlord were both represented by David Johnson and Phillip Baca of NAI Las Vegas.  The property is located at 1120 E. Sahara Ave.  Reported monthly rent is $1.02 PSF.

Las Vegas, 89115

Retail

Trijillo Enterprises, LLC leased 5,500 SF from Regal Plaza Pad D, LLC for $1,479,500 on a 124-month lease.  The tenant was represented by Bob Hawkins of Commerce/ Cushman & Wakefield and the landlord was represented by Zack Hussain of CB Richard Ellis.  The property is located at 5801 W. Craig Rd., Suite 103.  Reported monthly rent is $2.00 PSF.

North Las Vegas, 89030

Industrial

Czarnowski Display Service, Inc. leased 214,200 SF from Prologis-A3 NV I LLC for $9,099,216 on a 136-month lease.  Susan Borst of Commerce/ Cushman & Wakefield represented the tenant in the transaction.  The property is located at 4150 Industrial Center, Dr.  Reported monthly rent is $0.31 PSF.

Las Vegas, 89103

Industrial

CabinetsNow, LLC leased 26,040 SF from J & J Monarch Property, LLC for $740,124 on a five-year lease.  The tenant was represented by Xavier Wasiak, SIOR of Grubb & Ellis | Las Vegas.  The property is located at 4375 S. Valley View Blvd., Suite A.  Reported monthly rent is $0.47 PSF.

Las Vegas, 89115

Industrial

Highway Technologies, Inc. leased 10,000 SF from Roxy Real Estate Investment, Inc. for $427,266 on a five-year lease.  The landlord was represented by Brian Riffel of Colliers International.  The property is located at 4535 Copper Sage St.  Reported monthly rent is $0.71 PSF.

Las Vegas, 89118

Industrial

Clark County Water, Inc. leased 8,368 SF from WSL Properties, Inc. for $271,932 on a five-year lease.  The tenant was represented by Curtis Sanders of NAI Las Vegas and the landlord was represented by Spencer Pinter of Colliers International.  The property is located at 7220 Dean Martin Dr., Suite 400.  Reported monthly rent is $0.54 PSF.

Las Vegas, 89118

Industrial

Eye-Fi leased 12,393 SF from Cable Investments-Diablo, L.P. for $114,950 on a two-year lease.  The landlord was represented by Michael De Lew, SIOR and Greg Pancirov, SIOR of Colliers International.  The property is located at 5075 W. Diablo Dr., Suite 208.  Reported monthly rent is $0.39 PSF.

Las Vegas, 89118

Industrial

Universal Hospital Services, Inc. leased 7,317 SF from EJM Arroyo South I Property, LLC for $664,440 on a 10-year lease.  The landlord was represented by Spencer Pinter of Colliers International and the tenant was represented by Frank Quatro of Newmark Knight Frank.  The property is located at 7061 W. Arby Ave., Suite 100.  Reported monthly rent is $0.76 PSF.

Las Vegas, 89118

Industrial

Preferred Laminations, LLC leased 12,000 SF from Eastgroup Properties for $57,600 on a 13-month lease.  The landlord was represented by Donna Alderson, Greg Tassi and JJ Peck of CB Richard Ellis.  The property is located at 5530 S. Arville St. Reported monthly rent is $0.37 PSF.

Las Vegas, 89119

Industrial

Gamesman, Ltd. leased 5,230 SF from EJM Spencer Helm Property, LLC for $107,724 on a three-year lease.  The tenant was represented by Rick Smith of RDS Associates, LLC and the landlord was represented by Spencer Pinter of Colliers International.  The property is located at 6672 Spencer St., Suite 600.  Reported monthly rent is $0.57 PSF.

Las Vegas, 89119

Industrial

Western Millwork, Inc. leased 9,000 SF from Escondido, LLC for $20,790 on a six-month lease.  The landlord was represented by Brian Riffel of Colliers International.  The property is located at 6620 Escondido St., Suite C.  Reported monthly rent is $0.39 PSF.

Las Vegas, 89142

Land

JP Morgan Chase Bank leased 1.15 acres of land from Thorndike Properties, Inc. for $2,155,000 on a 20-year lease.  The tenant was represented by David Johnson and Phillip Baca  of NAI Las Vegas and the landlord was represented by Jacqueline Young and Dan Hubbard of Commerce/ Cushman & Wakefield.  The property is located at 200-280 E. Lake Mead Pkwy.  Reported monthly rent is $0.19 PSF.