New Retail Center Opens in North Las Vegas
The first large-scale, commercial retail project within the redevelopment area of downtown North Las Vegas, Cheyenne Point, recently had its grand opening. The retail center is a result of a public-private partnership between Montecito Companies and the city of North Las Vegas Redevelopment Agency. The $30 million, 95,000-square-foot retail center is near I-15 and the Cheyenne Avenue interchange. Anchored by Mariana’s Supermarket along with two additional anchor tenants totaling more than 20,000 square feet, Cheyenne Point saw the opening of Starbucks and T-Mobile along with several other tenants.
Educational Technology Campus Breaks Ground
Vegas PBS and the Clark County School District broke ground on their latest partnership, the Educational Technology Campus. The $37.5 million building nearly completes a $61 million capital “Campaign for the Digital Future” launched in 2000 by Vegas PBS. The campus will house Vegas PBS studios and offices, the CCSD Virtual High School and the emergency response data casting operations to backup Nevada’s Homeland Security capacities. The three-story campus totals 112,000 square feet and will be applying for LEED Gold Certification. Martin-Harris Construction is the contractor for this project which is scheduled completion in October 2008.
Longford Properties Offers Incentive
In an effort to help new tenants offset relocation costs, Longford Plaza, a development of Longford Properties, is offering new tenants monthly rental rates of $1 for the first six months with a five year lease. The office and retail property is located on Warm Springs, between Eastern and Pecos in Las Vegas. Completed a year ago, the one-story complex includes 235,000 square feet with suites ranging from 100 square feet to 8,000 square feet. Current tenants include dentists, doctors, chiropractors, mortgage companies and construction companies.
Commercial Real Estate Firm Goes Green
By 2010, CB Richard Ellis Group, Inc., a commercial real estate services company, wants to become the first major commercial real estate service to go carbon-neutral. The firm plans to assist its clients by introducing energy efficiency programs at the properties under its management, which encompass 1.7 billion square feet of space. Furthermore, to reduce carbon emissions, the firm will employ investments in carbon offsets whenever necessary. Locally, CB Richard Ellis’ Las Vegas office is working with clients to reduce energy costs and create greener space in a measurable way that increases value, yet takes a responsible approach to resources.
RCS Development Starts Two New Projects
RCS Development broke ground on Serene Neighborhood Plaza, an 11,750-square-foot, $5 million retail community center. Closely following, the company broke ground on the 22,000-square-foot, $9 million Patrick Neighborhood Plaza. Patrick Neighborhood Plaza is located across the street from Del Sol High School, not far from the 215 Beltway and the I-15 freeway. Serene Neighborhood Plaza is located on Eastern, near the 215 Beltway and Silverado High School. The general contractor for both developments is Massengale Construction and leasing agent of record is Gatski Commercial Real Estate Services. Both projects are scheduled for completion in the first quarter of 2008.
Inspirada Town Center Plan Approved
The city of Henderson recently approved a plan to develop a 300-acre parcel of land as the town center of Inspirada, a 2,000-acre master-planned community in southwest Las Vegas. The town center will serve as a venue for civic and community events. This urban town center will be developed with shops, services, entertainment and office space, as well as various home styles from single-family homes to condominium and town homes populating the town center area. Building for civic and municipal uses and a casino, also are included in the plan.
