The office space component of Nevada’s commercial real estate market faces a long recovery following the recession. Vacancy and unemployment rates were high, inventory was excessive and landlords struggled to effect leases. In addition, after the recession new construction activity and investor property acquisitions had ceased. Typically, the sector tends to be the last to … [Read more...]
I am a CCIM
Mission Statement To position the Chapter as the premier commercial real estate organization for Southern Nevada by enhancing the value of the CCIM designation and increasing the number of designees and candidates through professionalism and educational excellence. Here’s what “I Am a CCIM” means to these designees: Brian Sorrentino: “It means that I should know … [Read more...]
If You Build It, Will They Come?
Construction Returns to Nevada’s Industrial Market Nevada’s industrial market, which was devastated by the recession, has now recovered to the point where developers have returned to the market with “spec” projects (those built in advance of a contract or buyer). Now that 2014 year-end numbers have been tallied and evaluated, commercial real estate experts agree that the … [Read more...]
Red Report: April 2015
E Project, Other ADDRESS SW Corner of Sahara Ave. & Las Vegas Blvd., 89104 CONTRACTOR OF RECORD Martin-Harris Construction DETAILS Construction is underway on MGM Resorts International’s open-air music venue. The entertainment complex will have a 2,700 SF administration and storage building, 23.3 acres for the main festival area, 7.7 acres for transportation pick-up and … [Read more...]
NAIOP Southern Nevada Chapter Announced Winners of the 18th Annual Spotlight Awards
Las Vegas, NV – NAIOP Southern Nevada announced its 2015 Spotlight Award Winners, which run the gamut from concert venue to educational institution and everything in between. At a gala held Saturday at the Hard Rock Hotel & Casino, NAIOP Southern Nevada named its 18th Annual Spotlight Award winners, honoring distinguished commercial real estate entities in our local … [Read more...]
Red Report: March 2015
E Sale, Industrial ADDRESS 4240 N. Lamb Blvd., 89115 BUYER FJM Northpointe Associates LLC SELLER 4240 Lamb Holdings LLC DETAILS 46,624 SF; $2,951,300 APN 140-05-420-000 BUYER’S REP Dean Willmore, SIOR of Colliers International SELLER’S REP Dan Doherty, SIOR of Colliers International Lease, Industrial ADDRESS 5406 El Campo Grande, Ste 180, 89115 TENANT Golden Star … [Read more...]
Top Brokers 2015
As Nevada’s commercial real estate market rebounds, the state’s brokers are beginning to see a resurgence of business. The following pages highlight those brokers that performed at the top of their field in 2014. Brokers are listed alphabetically and separated by Northern and Southern Nevada. Broker’s were asked to submit a variety of information concerning their 2014 deals … [Read more...]
Southern Nevada CCIM Chapter Announces New President Robin Civish, CCIM with the 2015 Board of Directors
The Southern Nevada CCIM Chapter has announced the new Executive Officers and Board of Directors for 2015 with Robin Civish, CCIM serving as president of the chapter beginning January 1. Civish of Voit Real Estate Services in Las Vegas received her CCIM designation in 2009 and has served as a chapter director since 2010. She is a specialist in the retail industry and has … [Read more...]
NAIOP Southern Nevada Chapter Announces New Officers, Board of Directors and Committee Chairs for 2015
Las Vegas –NAIOP Southern Nevada chapter -- a trade organization representing commercial real estate developers, owners and related professionals in office, industrial, retail and mixed-use real estate in Southern Nevada -- has announced its 2015 officers, board of directors, committee chairs, and liaisons. The 2015 NAIOP Southern Nevada officers are as follows: … [Read more...]
Red Report: January 2015
E Sale, Industrial ADDRESS 6070 Boulder Hwy, 89122 BUYER Frederic and Barbara Rosenberg Family Trust SELLER Burton-Bowels LLC DETAILS 6,400 SF; $885,000 APN 161-27-311-011 BUYER’S REP Bob Diamond of Platinum Real Estate Professionals SELLER’S REP Neil Sorkin of Cushman & Wakefield Commerce N Sale, Industrial ADDRESS 3355-3675 W. Cheyenne, Ave., 89032 BUYER BKM … [Read more...]
Nevada Real Estate & Development Report: August 2014
E Project, Other ADDRESS 501 S. Las Vegas Blvd., 89101 CONTRACTOR OF RECORD Recreation Development Company LLC (RDC) DETAILS A $1.3 million ‘shell and core’ contract has been awarded to RDC for gypsum board assemblies at the Federal Justice Tower in downtown Las Vegas. The 129,000 SF project is a joint effort between the City of Las Vegas Redevelopment Agency and developer … [Read more...]
CCIM: Join the Club
After Nevada’s economic downturn and resulting real estate crash had begun, Cindy Santilena, a Las Vegas commercial real estate lender for small businesses and entrepreneurs, was looking for a way to highlight herself and her company when working with other industry professionals during a struggling, competitive market. She decided to pursue a CCIM, a prestigious certified … [Read more...]
Nevada Real Estate & Development Report: July 2014
E Sale, Multi-Family ADDRESS 1401 N. Lamb Blvd., 89110 BUYER Masuda Family Trust SELLER Brooksone Apartments, LLC DETAILS 193 units; $10,550,000 APN 140-29-101-019 SELLER’S REP Patrick J. Sauter and Art Carll of NAI Vegas The Sauter Multifamily Group H Sale, Multi-Family ADDRESS 1651 American Pacific Dr., 89074 BUYER Hamilton Zanze & Company SELLER The Calida … [Read more...]
Nevada Real Estate & Development Report: June 2014
E Project, Industrial ADDRESS 124 S. 6th St., 89101 DETAILS The John E. Carson hotel is being renovated into a mixed-use development that will feature feature both retail and office spaces. Construction of the 19,000 SF space began in April of last year and is expected to be complete by July of this year. Tenants to the renovated space are expected to include Black Spade … [Read more...]
Organ Donation on the Rise in Nevada
Nevada Donor Network (NDN) saw its second consecutive record-breaking year in "all apsects" of organ donation, according to a recent statement. NDN received donations from 104 organ donors, 373 tissue donors and 632 cornea donors - totaling a 96% increase compared to 2011. “These significant increases are a testament to the heroism of our courageous donors and their … [Read more...]
Cepage, LLC finalizes lease at Windriver Industrial Complex
LAS VEGAS – Colliers International – Las Vegas announced the finalization of a lease to Cepage LLC. The approximately 4,433-square-foot industrial property is located at 4301 W. Valley View Blvd., Suite 12 in the Windriver Industrial Complex in Las Vegas. Gabe Telles of Colliers International represented the lessee. Zac Zaher of Voit Real Estate Services represented the lessor, … [Read more...]
Nevada Real Estate & Development Report: May 2014
E Project, Industrial ADDRESS 400 S. Seventh St., 89101 DETAILS The Korte Company completed the Robert T. Eglet Advocacy Center in Downtown Las Vegas. The $17.5 million three-story building covers 96,875 SF with office space occupying a little over 47,600 SF. The architect for the project was Design Cell Architecture. H Sale, Industrial ADDRESS 1175 Center Point Dr., … [Read more...]
Nevada Real Estate & Development Report: April 2014
E Sale, Retail ADDRESS 5050 E. Russell Rd., 89122 BUYER Wyandotte, Inc SELLER Kathleen & Adrian Varni Trust DETAILS 24,034 SF; $2,200,000 APN 161-28-401-011 BUYER’S REP Neil Dela Cruz of MDL Group SELLER’S REP Katherine Bergh of Marcus & Millichap Loan, Office ADDRESS 2575 E. Sahara Ave., 89104 BORROWER Reliable Auto Sales LENDER TMC Financing and Zions … [Read more...]
Mike Montandon: Voit Real Estate Services
Managing Director Las Vegas Number of Employees: 15 Years in Nevada: 20 Years with Company: 2 How did you first get into your profession? I grew up in the commercial real estate industry. All my life, my father worked as a commercial real estate appraiser in Phoenix, where I was born and raised. From a young age, I was always drawn to the industry, and my first job … [Read more...]
What Nevada industry has the greatest potential to contribute to a turnaround?
“No single industry has the greatest potential as each industry -- directly or indirectly-- is reliant on others. Unemployment is extremely high in this state. Once we are able to put people back to work, regardless of industry, our economy will start to grow and all industries will benefit. “ David Stone • President, Nevada Association Services, Inc. “Gaming! The opening … [Read more...]
