Monthly Archives: July 2012

EJM’s Wynn Road East Center Adds Tenant

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Del Grosso Floor Covering signed a 1-year $31,969 lease for 5,971 square feet of industrial space inside EJM Development Co.’s 15-year-old Wynn Road East Business Center, on 2.18 acres, at 5470 Wynn Road, Suite 400, in Las Vegas. NAI Las Vegas’ Sharon Beesley represented the lessee; Colliers International’s Spencer Pinter represented the lessor, Wynn Road… Read more »

GK International Group Renews Lease

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GK International Group Inc. signed a 3-year $117,060 lease for 5,924 square feet of industrial space inside the 12-year-old Koll Business Center, on 40 acres, at 6125 S. Valley View Blvd., Suite E, in Las Vegas. 88 Realty’s Shawn Shahryari represented the lessee; Colliers International’s Spencer Pinter represented the lessor, Valley View I, II &… Read more »

Office Market Bounces Back in Second Quarter

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Southern Nevada’s beleaguered office market showed signs of life in the second quarter, with positive net absorption and falling vacancy, reports Colliers International. Valley unemployment stood at 11.8% in May, down 1.8% from a year prior, adding 5,900 jobs during the last 12 months. Office vacancies dipped by 0.4 points to 23.7% in the second… Read more »

ComPsych Joins Hughes Center

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ComPsych Management Corp. signed a 3-year lease for 4,653 square feet of Class-A office space inside the 68-acre Hughes Center at 3753 Howard Hughes Parkway in Las Vegas. Voit Real Estate’s Jayne Cayton represented the lessee. Colliers International’s Tom Stilley, Lizz Stilley, Ryan Martin and Patti Dillon represented the lessor, Crescent Real Estate Equities.

Spectrum of LV Signs $510,191 Lease

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EEI Global Inc. signed a 5-year $510,191 lease for 30,224 square feet of industrial space inside The Spectrum of Las Vegas at 80 N. Mojave Road, Suite 160, in Las Vegas. Harsch Investment Properties’ Jason Griffis represented the company as lessor. The reported average rent equals 28 cents per square foot.

Center at Spring Mountain Signs 3-Year Lease

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Dong Shi signed 3-year $51,562 square foot lease for 2,000 square feet of industrial space inside the Center at Spring Mountain at 3870 Schiff Dr. in Las Vegas. Harsch Investment Properties’ Jason Griffis represented the company as lessor; E-Realty’s Harold Harper represented the tenant. The reported average rent equals 72 cents per square foot.

Regal Plaza Pad Sells for $350,000

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ARC Holdings bought a 5-year-old, 5,500-square-foot retail pad, on 0.55 acres, inside Regal Plaza at 5871 W. Craig Road in Las Vegas for $350,000, or $64 per square foot, from Nevada State Bank. Cushman & Wakefield-Commerce’s Dana Berggren represented both the buyer and seller.

Burger King in Mesquite Sold for $560,000

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Vegas 2325 LLC bought a 20-year, 3,379-square-foot former Burger King, on 0.65 acres, at 450 N. Sandhill Blvd. in Mesquite for $560,000, or $166 per square foot, from HKM Nevada Properties LLC. Cushman & Wakefield-Commerce’s Dan Hubbard and Todd Manning represented the seller; CB Richard Ellis’ Christina Strickland represented the buyer.

NVAR: Nearly Half of Homeowners OK With Strategic Default

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A new Nevada Association of Realtors (NVAR) report states that homeowners believe the government has inadequately addressed the foreclosure crisis and nearly half are OK with a strategic mortgage default. About 45% of Nevadans surveyed said “there is nothing wrong” with “strategic default” while an equal number disagreed, believing there is still a legal and… Read more »

Pastavino & Deli Renews Summerlin Lease

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Pastavino & Deli signed a 10-year $333,950 lease renewal for 1,250 square feet of restaurant space inside the 6-year-old Shoppes at Summerlin at 7591 W. Washington Ave. in Las Vegas. Cushman & Wakefield-Commerce’s Jacqueline Young and Liz Clare represented the lessor, CW Capital Asset Management LLC. The reported average rent equals $2.23 per square foot… Read more »