Monthly Archives: August 2013

David Saxe Productions Pays $3.1 Million for Industrial Building

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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.

Golden Route To Occupy Former Beach House Grill & Bar

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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.

Downtown LV Office Building Sold for $1.6 Million

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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 Renews Henderson Lease

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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.

Russell Edmond Parcel Sold for $1 Million

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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.

Valley Office Market Stumbles in Second Quarter

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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 Pays $14.6 Million for Valley Freeway Center

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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 Names Scott Bonebrake Project Manager

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Burke Construction Group recently promoted Scott Bonebrake to project manager. He has been with the company since 2007 starting as a project  engineer.

Seven Hills Behavioral Institute Undergoes $4 Million Expansion

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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 LV Seeking Board Members

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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