Southwest Pavilion Shopping Center Sold
Southwest Pavilion shopping center, an 86,000-square-foot, grocery-anchored shopping center located on South Virginia Street in Reno, has been sold to a private investor in a transaction valued at $11.45 million. Current tenants include Scolari’s Food and Drug, Talbot’s and Scandia Down. Michael Federle of Grubb & Ellis’ San Francisco office and Roxanne Stevenson, vice president and co-owner for Grubb & Ellis|NCG (Nevada Commercial Group), represented the seller, the California Public Employees Retirement Systems. Grubb & Ellis|NCG will provide property management for the new owners.
Carson Taylor Harvey Performing Airport Work
McCarran International Airport has awarded Carson Taylor Harvey, Inc. a $7.5 million contract to upgrade the airport’s central HVAC plant. Work started in early February and is expected to be complete in April 2005. The project includes the upgrade and expansion of McCarran’s central plant, creating an additional 2,000 tons of heating and air conditioning capacity, giving the system a total of 8,000 tons of capacity when complete.
Part of the upgrade will include removing all the original equipment and replacing it with a more modern system, adding a new cooling tower and replacing the existing noise barrier and filtration system. Carson Taylor Harvey’s David Miller will serve as project manager and Art Willms has been named project superintendent.
University Campuses Expand
The University of Nevada, Reno has awarded TNT Construction, Inc. a contract to build the West Stadium Parking Complex, a six-level parking garage with over 1,850 spaces. A pedestrian bridge over West Stadium Drive will tie the fifth level of the garage to Mackay Stadium. Completion is scheduled for fall 2004. In Southern Nevada, the University of Nevada, Las Vegas has retained Tate Snyder Kimsey Architects and Ellerbe Becket to design a $40 million renovation of the Moyer Student Union Building, which will more than double its size. The current 50,000-square-foot building, which was constructed in 1968, will be renovated and an 82,000-square-foot addition will be built. The addition is slated to open in fall 2006 and the renovation should be completed the following fall. Objectives for the project are to add more food service, entertainment options, meeting and conference rooms, social and study lounges and outside seating.
Rinker Plans $18.5 Million Expansion
Rinker Materials Corporation has announced it is investing $18.5 million to develop a new ready-mix plant and expand both its block- and pipe-manufacturing facilities, in an effort to meet increasing demand in the Las Vegas Valley. Located on a 5-acre parcel in Kyle Canyon, the $3.5 million low-profile ready-mix plant is expected to be fully operational by June 2004 and will improve overall capacity by 10 percent. A $2 million expansion is underway at the Hydro Conduit’s Las Vegas Pipe and Box Plant, a division of Rinker Materials located in Henderson. The expansion, scheduled for completion in September 2004, will enable Rinker to increase precast box production capacity by 30 percent. Rinker’s Las Vegas Block Plant is preparing to develop a second block-production line adjacent to the existing operations. Scheduled to be fully operational by August 2004, the $8.3 million development will have a capacity of 5.5 million units. Rinker will further invest around $4.7 million in new trucks to support its expanded operations.
Vacation Village Site Slated for Development
Joint-venture partners CENTRA Properties LLC and Turnberry Associates have purchased a 24.9-acre site at the south end of the Las Vegas Strip now occupied by the closed Vacation Village resort. CENTRA, a Las Vegas-based developer, had planned to use an adjacent 57-acre site for an industrial project, but the addition of this parcel, with frontage on Las Vegas Boulevard, caused it to cancel those plans. The site is zoned to allow gaming, but plans submitted to Clark County currently call for a cinema complex, entertainment venues, restaurants and a farmers market. Development on the site will be subject to height restrictions because of its proximity to McCarran International Airport. Florida-based Turnberry Associates, developer of the Turnberry Towers high-rise condominium project in Las Vegas, has developed 20 million square feet of retail in other areas of the country.