ReD Report - October 2010

ReD Report

Deal Tracker

PROJECTS

Henderson, 89052

Office

Affordable Concepts, Inc. has completed the Brown Hand Clinic & Surgery Center.  The center is a 15,998 SF tenant improvement project in Siena Pavilion II.  The project was designed by HMC Architects and includes an approximately 10,000 SF surgery center.  The center is located at 2865 Siena Heights Dr.

Las Vegas, 89119

Industrial

Marnell Properties has completed work on the Marnell Air Cargo Center located at McCarran International Airport.  The 200,928 SF freight and distribution facility sits on approximately 19 acres next to the airport’s Terminal 3 projec.  The center will house tenants such as FedEx, UPS and Southwest Airlines among others.

Las Vegas, 89146

Government

McCarthy Building Companies, Inc. has completed construction on the 15,000 SF College of Southern Nevada and City of Las Vegas Fire Station and Instructional Center.  The $5.5 million single story facility will serve as both an acting fire station as well as a 4,600 SF teaching facility for College of Southern Nevada students.  The project was designed by JMA Architecture Studios and is located at the southwest corner of Torrey Pines Dr. and Oakey Blvd.

SALES

Henderson, 89052

Office

Concierge Care purchased a 6,222 SF building from Horizon Ridge Professional Park for $1,508,000 or $242 PSF.  The buyer was represented by Becci Hadfield at 21 Aadvantage Gold.  The property is located on Horizon Ridge Pkwy. between Carnegie St. and S. Green Valley Pkwy.

Las Vegas, 89120

Office

Shalom Tsubely purchased 24,630 SF from Bank of America, N.A. for $1,216,084 or $49 PSF.  The seller was represented by Charles Moore, Marlene Fujita and Michael Newman of CB Richard Ellis.  The property is located at 5836, 5854 and 5858 S. Pecos Rd.

APN # 161-31-114-006 et al

North Las Vegas, 89032

Retail

JSPR, LLLP purchased a 5,500 SF retail building from L.T. Porter, LLC for $800,000 or $145 PSF.  The seller was represented by Soozi Jones Walker, CCIM, SIOR and Bobbi Miracle, CCIM of Commercial Executives.  The property is located at 3011 W. Lake Mead.

APN # 139-20-210-003

Henderson, 89011

Industrial

West Penn Group, LLC purchased a 130,000 SF industrial property from Milgard Manufacturing, Inc. for $7.5 millon or $58 PSF.  The buyer was represented by Michael De Lew, SIOR of Colliers International and the seller was represented by Greg Pancirov, SIOR of Colliers International.  The property is located at 7600 Eastgate Rd.  

APN # 178-11-610-002

Las Vegas, 89118

Industrial

First Wholesale, LLC purchased 5,892 SF from Bank Zions First National for $365,000 or $62 PSF.  The buyer and seller were both represented by Dan Doherty, SIOR and Patti Dillon of Colliers International.  The property is located at 5178 W. Patrick Lane.

APN # 163-36-614-004

Henderson, 89044

Vacant Land

MIJ Investment Company purchased 19.96 acres from Nevada State Bank for $2.6 million or $3 PSF.  The buyer was represented by Mark Bachik of O48 Realty and the seller was represented by Michael Stuart of Colliers International.  The property is located at Bicentennail Pkwy. and Via Inspirada Pkwy.

Las Vegas, 89113

Vacant Land

Storybook Homes purchased 5.12 acres from City National Bank for $499,500 or $2.24 PSF.  The buyer was represented by Brian Riffel of Colliers International and the seller was represented by Michael Stuart of Colliers International.  The property is located at 8045 W. Hacienda Ave.  

APN # 163-28-701-044

LEASES

Las Vegas, 89113

Office

Amazon.com, Inc. leased 6,409 SF from Reef Centra Point B2348, Inc. for $630,690 on a 47-month lease.  The tenant was represented by Taber Thill, SIOR and Dan Palmeri of Colliers International.  The property is located at 8329 W. Sunset Rd.  Reported monthly rent is $2.09 PSF.

Las Vegas, 89118

Office

Project Resources, Inc. leased 7,682 SF from GY Rainbow Holdings, LLC for $1,316,341 on a 66-month lease.  The tenant was represented by Taber Thill, SIOR and Dan Palmeri of Colliers International and the landlord was represented by Randy Broadhead, SIOR of CB Richard Ellis.  The property is located at 6385 S. Rainbow.  Reported monthly rent is $2.60 PSF.

Las Vegas, 89118

Office

Harrington Industrial Plastics, LLC leased 9,120 SF from Eastgroup Properties LP for $262,656 on a five-year lease.  The tenant was represented by Paul Hoyt, SIOR of Colliers International.  The property is located at 5530 S. Arville St., Suite E.  Reported monthly rent is $0.48 PSF.

Las Vegas, 89119

Office

Stanley Consultants, Inc. leased 5,495 SF from Siefert Associates for $612,143 on a five-year lease.  The tenant was represented by Taber Thill, SIOR and Dan Palmeri of Colliers International.  The property is located at 5820 S. Eastern Ave.  Reported monthly rent is $1.86 PSF.

Las Vegas, 89128

Office

Shift 4 Corporation leased 5,003 SF from Northwest I, LLC for $133,845 on a 30-month lease.  The landlord was represented by Brad Peterson, SIOR of CB Richard Ellis.  The property is located at 2410 Fire Mesa St.  Reported monthly rent is $0.89 PSF.

Las Vegas, 89169

Retail

Casual Male Retail Store, LLC leased 13,000 SF from Durpat, LLC for $6.5 million on a ten-year lease.  The tenant was represented by Penny Mendlovic and Christina Strickland of CB Richard Ellis.  The property is located at 4211 Paradise Rd.  Reported monthly rent is $4.16 PSF.

Henderson, 89011

Industrial

Castello Excavation & Grading, Inc. leased 5,303 SF in the Valley Freeway Center from S.T.W.M.S., V, LLC for $26,184 on a one-year lease renewal.  Additionally, CPUtopia, LLC leased 14,640 SF in the center for $29,280 on a five-month lease renewal.  The landlord was represented by Michael De Lew, SIOR and Greg Pancirov, SIOR of Colliers International in both transactions.  The properties are located at 7565 Commercial Way, Suite A and Suites E, F and G.  Reported monthly rents are $0.41 PSF and $0.40 PSF, respectfully.

Las Vegas, 89102

Industrial

Nationwide Auto Finance, LLC leased 11,924 SF from Chung Enterprises, LP for $171,708 on a two-year lease.  The tenant was represented by Rama Kusnadi of Northstar Realty Group, LLC and the landlord was represented by Dan Doherty, SIOR and Patti Dillon of Colliers International.  The property is located 3700 Regulus Dr.  Reported monthly rent is $0.60 PSF.

Las Vegas, 89115

Industrial

Harrington Tools, Inc. leased 16,529 SF from Speedway Commerce Center, LLC for $125,628 on a three-year lease.  The tenant was represented by Dan Doherty, SIOR and Patti Dillon of Colliers International.  The property is located at 6895 Speedway Blvd., Suite Z103.  Reported monthly rent is $0.21 PSF.

Las Vegas, 89118

Industrial

Ultimate Motor Sports, Inc. leased 9,836 SF from EJM Arroyo South I Property, LLC for $376,032 on a five-year lease.  The landlord was represented by Spencer Pinter of Colliers International.  The property is located at 7001 W. Arby Ave., Suite 100.  Reported monthly is $0.64 PSF.

Las Vegas, 89118

Industrial

Apple Rock Advertising & Promotion, Inc. leased 8,686 SF from Cable Investments-Diablo, LP for $148,948 on a 39-month lease.  The tenant was represented by Jacint Simon of Insight Realty Associates and the landlord was represented by Michael De Lew, SIOR and Greg Pancirov, SIOR of Colliers International.  The property is located at 5175 W. Diablo Dr., Suite 106.  Reported monthly rent is $0.44 PSF.

LOANS

Las Vegas, 89119

Office

Tony Castrignano of Sky Mesa Capital has provided financing for McLeod 1, LLC for a 25,000 SF, three building development in the Park 2000 Business Park.  The loan is fully amortized with a fixed 5.875 interest rate that adjusts every five years.  The property is located on the southeast corner of Sunset and Eastern.