Monthly Archives: June 2012

CIP Pays $4 Million for Industrial Complex

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CIP Real Estate bought a 17-year-old, two-industrial-building complex totaling 153,120 square feet, on 5.8 acres, at 6620 Escondido St. in Las Vegas for $4 million, or $26 per square foot, from Escondido LLC. Colliers International’s Brian Riffel represented the seller. CIP bought the property in a joint venture with a real estate investment fund managed… Read more »

Craig Distribution Center II Signs Lease Extension

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Framerica Corp. signed a 1-year, $67,392 lease extension for 14,040 square feet of industrial space inside the 8-year-old Craig Distribution Center II, on 11.88 acres, at 4320 N. Lamb Blvd., Suite 100, in Las Vegas. Colliers International’s Daniel Doherty and Chris Lane represented the lessor, Roberts Ranch Venture, LP. The reported average rent equals 40… Read more »

Precision Group Signs 32-Month Henderson Lease

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Precision Group, Inc. signed a 32-month, $57,538 lease expansion for 3,038 square feet of industrial space inside the 4-year-old Gibson Wigwam Business Center, on 2.26 acres, at 50 N. Gibson Road, Suites 165 and 170, in Henderson. Colliers International’s Greg Pancirov and Mike DeLew represented the lessor, Wigwam/Gibson, LLC. The reported average rent equals 59… Read more »

Eric Molfetta Rejoins Colliers International

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Eric Molfetta has joined Colliers International as an industrial division senior associate. He will focus on landlord/tenant representation, particularly transactions involving tenant improvements. Molfetta most recently worked at Harsch Investment Properties as an assistant vice president of leasing and brokerage, although he started his career at Colliers in 2007.

Focus Opens $2.3 Million Mountain’s Edge Park

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Focus Property Group opened a new $2.3 million, 20-acre neighborhood park inside its 3,500-acre Mountain’s Edge master-planned residential community on Saturday, June 23. The Nathaniel Jones Park is located at 8800 Sparkling Chandon Drive in southwest Las Vegas. Las Vegas-based Ssorb, Inc. was the park’s design-build general contractor. The desert landscaped area features a lighted… Read more »

Kimco’s Decatur Meadows Signs 5-Year Lease

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Juan Rojas and Veronica De-Rojas signed a 5-year, $57,200 lease for 1,402 square feet of retail space inside the Decatur Meadows Shopping Mall at 350 S. Decatur Blvd. in Las Vegas. Colliers International’s Scot Marker represented the lessor, Kimco Realty Corp. The reported average rent equals 68 cents per square foot.

Sin City MMA Joins Arroyo South

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Sin City Fight Promotions signed an 88-month, $805,921 lease for 15,012 square feet of industrial space inside EJM Development Co.’s Arroyo South Business Center at 6980 W. Warm Springs Road, Suites 180 and 190, in Las Vegas. NAI Las Vegas’ Robin Civish represented the lessee; Colliers International’s Spencer Pinter represented the lessor, EJM Arroyo South… Read more »

Desert Produce Sales Signs $713,700 Lease

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Desert Produce Sales signed 10-year, $713,700 lease for 9,936 square feet of industrial space inside the Koll Business Center at 6265 S. Valley View Blvd., Suites I & J, in Las Vegas. Grubb & Ellis’ David Lipp represented the lessee; Colliers International’s Spencer Pinter represented the lessor, Valley View I, II & III, LLC. The… Read more »

Loma Vista Shopping Center Signs 5-Year Lease

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Beyond Excellence signed a 5-year, $210,000 lease for 1,455 square feet of retail space inside the Loma Vista shopping center at 4700 Meadows Lane, Suite 101-C, in Las Vegas. Century 21’s Octavio Escoto represented the lessee; Colliers International’s David Grant represented the lessor, Cardenas Markets, Inc. The reported average rent equals per square foot.

Warm Springs Crossing III Renews Lease

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Enzo Foods signed a 3-year, $110,796 lease renewal for 5,973 square feet of industrial space inside the 11-year-old Warm Springs Crossing III, on 9 acres, at 7540 Dean Martin Drive, Suite 504, in Las Vegas. Colliers International’s Mike De Lew and Greg Pancirov represented the lessor, Diamond Warm Springs, LLC. The reported average rent equals… Read more »