David Saxe Productions LLC bought an 11-year-old 38,818-square-foot flex-industrial building, on 2.06 acres, at 5030 W. Oquendo Road in Las Vegas for $3.1 million, or $80-per-square-foot, from Quality Asset Fund LLC. Colliers International’s Dean Willmore and Renae Russo represented the buyer: Real Capital Corp.’s Chris Johnson represented the seller.
Monthly Archives: August 2013
Golden Route Operations LLC signed 10-year $1,617,804 lease for the 6-year-old, 6,800-square-foot Beach House Grill & Bar, on 0.69 acres, at 10430 S.Eastern Ave. in Henderson. Colliers International’s Scot Marker represented the lessor, Half Shell Entertainment Group Inc. The reported average rent equals per $1.98 square foot triple net.
Aphrodite Holdings LLC bought a 12,350-square-foot office building, on 0.15 acres, inside the 2-story, 43-year-old Mountain Springs Commercial Center, on 0.15 acres, at 316 E. Bridger Ave. in Las Vegas for $1,590,000, or $129-per-square-foot, from Mountain Springs Development LLC. FOCUS Commercial Group’s Brandon Wiegand represented the buyer; Colliers International’s Chris Connell and Grant Traub represented the… Read more »
Central Telephone Company signed a 5-year $523,110 lease renewal for 3,710 square feet of retail space inside the 10-year-old Sunset Retail Shops, on 1.2 acres, at 1321 W. Sunset Road, Suite 110, in Henderson. Colliers International’s Scot Marker represented the lessee. The reported average rent equals $2.35 per square foot.
Swadeep Nigam bought 4.55 acres of vacant land at the northeast corner of Russell Road and Edmond Street in Las Vegas for $1,037,500, or $228,022-per-acre, from the Robert and Patricia Schinder Family Trust. Investors Realty Group’s Mark Schnippel represented the seller; Cushman & Wakefield-Commerce’s Art Farmanali represented the buyer.
Southern Nevada’s office market saw negative absorption in the second quarter after several quarters of positive movement, reports the Colliers International Las Vegas. Office net absorption was a negative 35,527 square feet in the second quarter, representing a year-over-year decrease of more than 230,000 square feet. Office vacancy now stands at 22.7%. Despite these negatives,… Read more »
Harsch Investment Properties bought the four-building, 229,000-square-foot Valley Freeway Center, on 14.35 acres, at 7565-7685 Commercial Way in Henderson for $14.6 million, or $64-per-square-foot, from IYAR Realty ADA Compliant LLP. The flex industrial complex is currently 58% leased. Colliers International’s Mike Delew and Greg Pancirov represented the buyer.
Burke Construction Group recently promoted Scott Bonebrake to project manager. He has been with the company since 2007 starting as a project engineer.
Burke Construction Group recently began work on a $3.9 million expansion to the 5-year-old, 26,400-square-foot Seven Hills Behavioral Institute at 3021 Horizon Ridge Parkway in Henderson. The project, designed by Stengel Hill Architecture, will convert an adjacent one-story, 15,000-square-foot office building to accommodate 36 new inpatient beds within two nursing units consisting of 18 beds… Read more »
Commercial Alliance of Las Vegas is seeking four new members for its 2014 Board of Directors. Applicants must be a full member in good standing. The application deadline is 5:00 p.m., Thursday, August 15. For more information, call (702) 784-5050 or e-mail: Shill@glvar.org