ReD Report - September 2010

ReD Report

PROJECTS

Las Vegas, 89121

Mixed-Use

Vegas PBS’ Educational Technology Campus has received LEED Gold Certification from the U.S. Green Building Council.  The project was built through a public-private partnership with Martin-Harris Construction and JMA Architecture and is the first television building in the United States to receive the certification.  The property cost approximately $60 million and is 112,000 SF.  The campus is located at 3050 E. Flamingo Rd.

Minden, 89423

Mixed-Use

Miles Construction has completed work on the 24,000 SF Sierra Lutheran High School.  The school included the construction of a gym, classrooms and common areas.  The project is located at 1617 Water Street, #S.

Las Vegas, 89135

Office

Nevada Cancer Institute’s Ralph and Betty Engelstad Cancer Research Building has received LEED Silver Certification from the U.S. Green Building Council.  The building was constructed by The Korte Company and opened in September of last year.  The 184,000 SF facility has 24 research labs and is located at 1 Breakthrough Dr.

McCarran, 89434

Industrial

Miles Construction has begun work on Saginaw Controls Engineering’s West Coast distribution facility.  The 33,000 SF facility is located in the Tahoe-Reno Industrial Center and will allow Saginaw to ship to West Coast customers faster and less expensively.  The project is located at 795 Denmark Dr.

Sparks, 89436

Industrial

Miles Construction has completed work on a 17,600 SF manufacturing and distribution facility for Belimo America.  The facility was designed and certified as a LEED Gold building.  The project is located at 1049 Fortunato Loop.

SALES

Las Vegas, 89118

Industrial

AMR Racing purchased a 7,156 SF property from Ken and Anne Fujioka for $644,040 or $90 PSF.  The seller was represented by Paul Hoyt, SIOR and E.J. Paul Sweetland IV, SIOR.  The property is located at 6679 Schuster St.

APN # 177-06-516-003

Las Vegas, 89120

Industrial

Quinnland Properties, LLC purchased a 2,594 SF property from IB Property Holdings for $220,000 or $185.  The tenant was represented by Dan Doherty, SIOR and Patti Dillon of Colliers International.  The property is located at 4061 Silvestri Lane, Unit G-1.

APN # 161-31-711-025

Las Vegas, 89169

Multi-Family

325 Flamingo, LLC purchased the 150-unit Clarion Suites Hotel from Highland Capital Management, L.P. for $12 million or $80,000 per unit.  Mike Mixer of Colliers International was the broker for the transaction.  The property has been rebranded as a Ramada and is located at 325 Flamingo Rd.  

APN # 162-21-504-001

Las Vegas, 89149

Vacant Land

SDMI Centennial Hills, LLC purchased a 3.62 acre parcel from Specialty Trust for $1.9 million or $12 PSF.  Frank Nielsen of Montecito Companies represented the buyer and the seller was represented by Colliers International’s Michael Stuart.  The property is located on the northwest corner of Durango Dr. and Deer Springs Way.

APN # 125-20-216-002

Las Vegas, 89156

Vacant Land

Manuel Madrigal purchased 1.42 acres from Mission Oaks National Bank for $250,000 or $4 PSF.  The buyer and seller were both represented by Shawn Barashy of Lee & Associates.  The property is located at 5323 E. Cheyenne Ave.  

APN # 140-16-103-001

Las Vegas, 89178

Vacant Land

Fresh & Easy Property Co., LLC purchased 1.9 acres of vacant land from Durango Rock, LLC for $1,980,000 or $24 PSF.  The buyer was represented by Brian Sorrentino of R.O.I. Commercial Real Estate and the seller was represented by Tyler Mays of Fortis Commercial Advisors.  The property is located at Blue Diamond

LEASES

Las Vegas, 89113

Office

Farmer’s Insurance Exchange leased 7,744 SF from EJM Arroyo Corporate Center 1 & 2 for $1,005,574 on a five-year lease.  The landlord was represented by CB Richard Ellis’ Brad Peterson, SIOR.  The property is located at 7455 Arroyo Crossing Pkwy.  Reported monthly rent is $2.16 PSF.

Las Vegas, 89119

Office

Black & Veatch Corporation leased 10,693 SF from AILP Limited Partnership for $1,471,934 on a six-year lease.  The tenant was represented by Taber Thill, SIOR and Daniel Polmeri of Colliers International and the landlord was represented by Diana Salazar of DSA Development.  The property is located at 4040 S. Eastern Ave.  Reported monthly rent is $1.91 PSF.

Las Vegas, 89119

Office

Positive Search Results leased 6,456 SF from Pardee Homes for $293,714 on a 43-month lease.  The tenant was represented by Dave Flynn of Lee & Associates and the landlord was represented by Chuck WItters, SIOR of Lee & Associates. The property is located at 650 White Dr.  Reported monthly rent is $1.06 PSF.

Las Vegas, 89119

Office

Gaming Network, Inc. leased 5,927 SF from AAMGG, LLC for $253,083 on a three- year lease.  Ric Ruston of Colliers International represented both the tenant and the landlord in the transaction.  The property is located at 6600 Amelia Earhart Court, Suite B-1.  Reported monthly rent is $1.19 PSF.

Las Vegas, 89120

Office

Creative Technology Group, Inc. leased 16,231 SF from PFRS Patrick Commerce Center for $519,358 on a five-year lease.  The tenant and landlord were both represented by Shawn Barashy and David Evenhouse of Lee & Associates.  The property is located at 6171 S. McLeod.  Reported monthly rent is $0.53 PSF.

Henderson, 89014

Retail

Rustic Living leased 12,000 SF in the Warm Springs Promenade from Warm Springs Promenade, LLC for $369,120 on a five-year lease.  The landlord was represented by Scot Marker of Colliers International.  The property is located on the southwest corner of Marks St. and Warm Springs Rd.  Reported monthly rent is $0.51 PSF.

Las Vegas, 89102

Retail

Wanshun Lu leased 11,626 SF from Kimco Realty for $1,380,006 on a 10-year lease.  The tenant was represented by Nancy Li of 1st Priority Realty and the landlord was represented by Scot Marker of Colliers International.  The property is located at 2590 S. Decatur Blvd.  Reported monthly rent is $0.99 PSF.

Henderson, 89011

Industrial

Sunkist Graphics, Inc. renewed their lease of 5,760 SF from S.T.W.M.S., V, LLC for $89,518 on a three-year lease.  The tenant was represented by Tom Tedder of Clifford Commercial Real Estate and the landlord was represented by Michael De Lew, SIOR and Greg Pancirov, SIOR.  The property is located at 7585 Commercial Way, Suite D.  Reported monthly rent is $0.43 PSF.

Henderson, 89074

Industrial

Angelica Textile Services leased 40,817 SF from The Northwestern Mutual Life Insurance Company for $921,529 on a 65-month lease.  The tenant was represented by Michael De Lew, SIOR and Greg Pancirov, SIOR of Colliers International and the landlord was represented by Kevin Higgins, SIOR, Garrett Toft and Eric Larkin of VOIT Real Estate Services.  The property is located at 1080 Mary Crest Rd.  Reported monthly rent is $0.35 PSF.

Henderson, 89074

Industrial

Sunset Transportation LV, Inc. leased 50,000 SF from Pacifica Blue Diamond V, LLC for $1,315,843 on a 63-month lease.  The landlord was represented by CB Richard Ellis’ Shalonda Hughes.  The property is located at 4120 W. Windmill Ln.  Reported monthly rent is $0.42 PSF.

North Las Vegas, 89081

Industrial

Aggreko, LLC leased 7,500 SF from Patrick and Michelle Beckwith Family Trust for $90,000 on a one-year lease.  The tenant was represented by Dan Doherty, SIOR and Patti Dillon of Colliers International and the landlord was represented by Paul Callister of Albright Callister & Associates.  The property is located at 4611 Vandenberg Dr.  Reported monthly rent is $1.00 PSF.

Las Vegas, 89102

Industrial

MBBM Partners, LLC  leased 7,440 SF in a two-story building from The Studios, LLC  for $40,176 on a one-year lease.  Art Farmanali, SIOR and Laura Hart of Prudential | IPG Commercial represented the landlord in the transaction.  The property is located at 2121 Industrial Rd., Suite 101.  Reported monthly rent is $0.45 PSF.

Las Vegas, 89115

Industrial

The Flexaust Company, Inc. leased 22,750 SF from NLV Sagebrush, LLC for $362,373 on a five-year lease.  The tenant was represented by Spencer Pinter of Colliers International and the landlord was represented by Dan Doherty, SIOR and Patti Dillon of Colliers International.  The property is located at 4584 Calimesa St.  Reported monthly rent is $0.27.

Las Vegas, 89118

Industrial

Front Row Sports leased 8,660 SF from Valley View IV, LLC for $289,644 on a five-year lease.  The tenant was represented by Dave Knapper of Reiss Corporation and the landlord was represented by Spencer Pinter of Colliers International.  The property is located at 6185 S. Valley View Blvd., Suites N & O.  Reported monthly rent is $0.56 PSF.

Las Vegas, 89121

Industrial

Amonix, Inc. leased 214,030 SF from Golden Triangle Industrial Park, LLC for $3,937,060 on a 68-month lease.  The landlord was represented by Donna Alderson, SIOR of CB Richard Ellis.  The property is located at 4975 E. Pecos Rd.  Reported monthly rent is $0.27 PSF.

Las Vegas, 89131

Industrial

Viper Tradeshow Transportation, Inc. leased 10,890 SF from EJM Arroyo North II Property, LLC for $207,393 on a three-year lease.  Arno Niesten and Mason Harvey of Prudential Americana Group Realtors represented the tenant.  The landlord was represented by Spencer Pinter of Colliers International.  The property is located at 6560 S. Tioga Way, Suite 110.  Reported monthly rent is $0.53 PSF.