Monthly Archives: July 2012

Elite Delivery Services Renews Lease

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Elite Delivery Services signed a 3-year, $44,556 lease renewal for 2,261 square feet of industrial space inside The Spectrum of Las Vegas at 51 N. Pecos Ave., Suite 106, in Las Vegas. Harsch Investment Properties’ Jason Griffis represented the company as lessor. The reported average rent equals 55 cents per square foot.

Gymnastics Academy Extends Whitney Ranch Lease

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Academy of Gymnastics & Dance signed a 58-month, $387,613 lease renewal for 17,591 square feet of industrial space inside the 12-year-old Whitney Ranch Business Center at 1000 N. Stephanie St., Suite 101, in Henderson. Cushman & Wakefield-Commerce’s Susan Borst represented the lessor Whitton Corp. The reported average rent equals 38 cents per square foot triple… Read more »

Hacienda Business Center Adds Tenant

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Las Vegas Banner Factory signed a 26-month, $73,762 lease renewal for 6,740 square feet of industrial space inside the 13-year-old Hacienda Business Center, on 0.31 acres, at 4572 W. Hacienda Ave., Suite 5, in Las Vegas. Cushman & Wakefield-Commerce’s Amy Ogden and Danielle Steffen represented the lessor, Barbara T. Menna. The reported average rent equals… Read more »

New Nevada State Transportation Director Named

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Nevada has a new transportation director. Rudy Malfabon, 53, was named the state’s top transportation chief on July 23. He succeeds Susan Martinovich who departs on September 6, after 28 years with the 1,814-employee, $1-billion-a-year public agency. Martinovich has held the top spot since 2007. For the full report, CLICK HERE.

LV Hotel Market Brightens in Second Quarter

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Hotel occupancy in Clark County has averaged 87% in 2012, a 0.1% increase over 2011, and a 4% increase over 2010, suggesting that Southern Nevada’s tourist industry has largely recovered, reports Colliers International. Clark County’s average daily rate is $109.56 in 2012, a 4.2% increase over 2011. Valley visitor volume totaled 13,081,046 visitors through the… Read more »

Valley Retail Market Surges in Second Quarter

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Southern Nevada’s retail market saw its fifth straight quarter of improvement at the end of June, reports Cushman & Wakefield-Commerce Real Estate Solutions. Valley retail had a 14% overall vacancy rate in the second quarter, which is 0.7% less than a year ago. As the retail market continues to recover and retailers continue to rent… Read more »

Henderson Taco Bell Sells for $1.33 Million

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Stable Ventures LLC bought a 3,000-square-foot Taco Bell restaurant, on a 37,000-square-foot lot, at 1491 W. Horizon Ridge Parkway in Henderson for $1.33 million, or $444 per square foot, from Cheyenne & Beltway 2005 LLC. Colliers International’s David Grant represented the buyer; Active Commercial’s Abdus Asif represented the seller.

Diamond Construction Building Leased

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NTS Mikedo LLC signed a 65-month $776,600 lease for the 12-year-old, 18,500-square-foot Diamond Construction Co. building, on 4.14 acres, at 7885 Westwind Road in Las Vegas. Colliers International’s Dan Doherty and Chris Lane represented the lessee; Colliers International’s Mike De Lew and Greg Pancirov represented the lessor, Diamond Real Properties, LLC. The reported average rent… Read more »

Kimco’s Decatur Meadows Adds Tenant

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Weave-A-Diva signed a 5-year $102,375 lease for 1,575 square feet of retail space inside Decatur Meadows, on 9.35 acres, at 344 S. Decatur Blvd. in Las Vegas. Colliers International’s Scot Marker represented the lessor, Kimco Realty. The reported average rent equals $1.08 per square foot triple net.

Nevada Freight Logistics Renews Arrowhead Lease

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Nevada Freight Logistics signed a 42-month $238,808 lease renewal for 11,703 square feet of industrial space inside KTR Capital Partners’ Arrowhead Commerce Center, on 9.73 acres, at 3655 E. Patrick Lane, Suite 800 and 1100, in Las Vegas. Pinnacle Realty’s Todd Marolf represented the lessee; Colliers International’s Spencer Pinter, Dan Doherty and Chris Lane represented… Read more »