Business Bank of Nevada held a grand opening in February of its 5,000-square-foot, full-service financial center in the Shaheen Business Park on College Parkway in Carson City. The bank had been conducting business at a 1,500-square-foot leased branch since entering the Carson City market in December 1999. The exterior of the bank-owned facility, which sits on 0.6 acres of land, has a split-face block and stucco design, with an ATM vestibule area, a drive-up teller window and a 24-hour night depository. General contractor for the project was Shaheen/Beauchamp Builders and architectural services were provided by Hannafin/Darney Architects. Both are local Carson City firms.
CB Richard Ellis Reports Record Year
CB Richard Ellis, a commercial real estate services firm in Southern Nevada, reported a record $795 million in transactions for 2000, nearly double the record $440 million reported in 1999. The office recorded sales valued at more than $524 million and lease transactions valued at more than $270 million. Several significant exchanges contributed to the office’s record-breaking year, including the sale in December of Sierra Health Services’ Las Vegas portfolio for $115 million, the largest non-gaming real estate transaction in Southern Nevada history. Under the sale/leaseback agreement, Sierra sold the majority of its Las Vegas real estate holdings to CB Richard Ellis Corporate Partners, LLC and used $50 million of the proceeds to reduce outstanding debt. It then signed a long-term lease arrangement with the buyers.
Kitchell Awarded Surgery Center Project
Kitchell Contractors will serve as construction manager/general contractor for the Desert Orthopaedic Surgery Center project, located at Desert Inn Road and Pecos in Las Vegas. The first level of the 54,000-square-foot, two-story facility will house four surgery suites along with prep and recovery areas, clinic space and admitting. The second level will consist of physicians’ offices and approximately 18,000 square feet for physical therapy and durable medical equipment providers. Construction began in February and is expected to be completed by December. KGA Architecture is the project architect.
Power Plant Approved for Storey County
The state Public Utilities Commission has approved a permit for a new power plant in Storey County to generate electricity for Northern Nevada. The new plant is a joint venture between Morgan Stanley Dean Witter and Japan’s second-largest utility, Kansai. The plant, which will cost between $40 million and $60 million, will be located in the Tahoe-Reno Industrial Center in Tracy, about 20 miles east of Reno. It will be the first new plant in Northern Nevada since the Pinon Pine Power Project came on line in Tracy in 1996. Officials at the joint venture firm, Naniwa Energy LLC, estimate the plant will be ready for power production by June 1, and will generate up to 360 megawatts through six natural gas-fired turbines.
McCarthy Constructing Four Office Buildings
McCarthy is constructing two office buildings for American Nevada Corporation at the Green Valley Corporate Center in Henderson. Utilizing tilt-up construction, the $4.3 million project is scheduled for completion in April. Both steel-framed, 45,000-square-foot buildings will feature finished lobbies, high-performance reflective glass and aluminum-clad exterior balconies. McCarthy is also constructing surface parking on the eight-acre site. In Reno, McCarthy is building two, four-story Class A structures and a two-level parking garage at Corporate Point. McCarthy will complete the core and shell of both buildings and will perform all concrete work on the $25 million project. Upon completion in January 2002, Building II will contain 98,500 square feet and Building III, 92,500 square feet.
Retirement Community Planned for Summerlin
Construction will begin later this year on the Las Ventanas at Summerlin retirement community, which will offer independent living, assisted living and skilled nursing care on a 17-acre campus at West Charleston and Town Center Drive in Las Vegas. The Las Ventanas life care community is being developed by Westport Senior Living of Palm Beach, Fla., and Dallas-based Greystone Communities. It will feature 198 condominium-styled luxury apartment homes with seven floor plans ranging from 600 square feet to 1,375 square feet, as well as 48 private assisted-living suites and 60 private rooms for skilled nursing care. Community areas will include a swimming pool, an outdoor theater, four dining rooms, library, coffee shop, business center and barber shop/beauty salon. Architect for the project is Three Architecture of Dallas, which has expertise in luxury hotel design, including L’Ermitage and The Peninsula Hotel in Beverly Hills.
Business Park Planned for Elko
Reno developer Robert L. Nelson has announced plans to build a mixed-use business park on approximately 160 acres north of the Elko Regional Airport and south of Interstate 80. Gateway Commerce Center will consist of business estates and commercial centers that include retail, commercial and light industrial facilities. Some buildings will be accessible directly from the airport runway, allowing light planes to taxi to their doors. The architect for Gateway Commerce Center is Sweeney-Rose Architects of Reno, and engineering services will be supplied by Mackay & Somps, a California/Nevada civil engineering firm. Nelson has begun a series of workshops involving key representatives from city, county, state and federal entities as well as utility suppliers. Feedback from these workshops will help shape a conceptual land use plan for the project.
Colliers Sells Sparks Shopping Center
Colliers International has announced the sale of Ironhorse Shopping Center in Sparks to a Santa Monica, Calif company for around $16 million. Ironhorse, one of the largest retail shopping centers in Sparks, consists of 185,890 square feet of retail space on 20 acres at Prater Way and McCarran Boulevard. Anchor stores include Albertson’s Food & Drug, Target, Applebee’s, Arby’s, Payless Shoes, The Wherehouse and Clothestime. Colliers handled the management and leasing of the shopping center for its former owners, The Ohio Teachers Retirement Trust, and will continue in the same capacity for the new buyers, 505 McCarran Partners, LLC.