Monthly Archives: May 2014

Nevada Economy Still Adding Jobs

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Nevada’s economy added 6,500 establishment-based jobs between March and April reaching a total of 1,211,800. This is a year-over-year increase of 46,900 (4%) jobs compared to April 2013. The resulting year-to-date job growth in 2014 was 2.2% compared to 0.1% during the same period in 2013. With the exception of a small loss of jobs… Read more »

El Jardin Plaza Sold for $1.4 Million

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El Jardin Plaza LLC sold the 19,680-square-foot El Jardin Plaza, on 1.39 acres, at 5704 W. Charleston Blvd. in Las Vegas for $1.4 million, or $71-per-square-foot, to an unnamed private investor. Marcus & Millichap’s Joshua Jordan and Cameron Glinton represented the buyer; Marcus & Millichap’s Chris Cunning represented the seller. The 35-year-old two-building retail center… Read more »

Downtown LV Parcel Sold for $800,000

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An individual/personal trust sold a 10,455 square-foot commercially zoned parcel at Bridger Avenue and South Casino Center Boulevard in Las Vegas sold for $800,000, or $77-per-square-foot. Marcus & Millichap’s Ray Germain and Chuck Connors represented the seller.

Patrick Commerce Building Sold for $15 Million

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BKM Capital Partners bought a 17-year-old 223,009-square-foot industrial building inside Patrick Commerce Center at 2875 Patrick Lane in Las Vegas for $15,125,000, or $68-per-square-foot, from PFRS Patrick Center Corp. Colliers International’s Dan Doherty, Spencer Pinter, Chris Lane and Jerry Doty represented the seller.

Saddleback Park West Building Sold for $638,059

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Marsh Properties LLC bought a 7,551-square-foot industrial building inside Saddleback Park West Commerce Center at 6382 Montessouri St. in Las Vegas for $638,059, or $84-per-square-foot, from Post LP. Colliers International’s Dan Doherty, Susan Borst, Chris Lane and Jerry Doty represented the seller.

Progress Choices Signs $281,916 Industrial Lease

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Progress Choices Inc. signed a 3-year $281,916 lease for 10,709 square feet of industrial space inside the 26-year-old Palms Business Center, on 4.88 acres, at 3010-2020 Rigel Ave., Building C, in Las Vegas. Cushman & Wakefield-Commerce’s Leo Biedermann represented the lessor, Fisher Brothers. The reported average rent equals 73 cents per square foot modified gross.

Palms Business Center Signs 3-Year Lease

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Progress Choices Inc. signed a 3-year $71,676 lease for 3,264 square feet of industrial space inside the 26-year-old Palms Business Center, on 4.88 acres, at 3010-2020 Rigel Ave., Building C, in Las Vegas. Cushman & Wakefield-Commerce’s Leo Biedermann represented the lessor, Fisher Brothers. The reported average rent equals 61 cents per square foot modified gross.

North Las Vegas Parcel Sold for $3.2 Million

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Mendenhall Dynasty Trust bought 18.94 acres of vacant industrial land at Cheyenne Ave and Fifth Street in North Las Vegas for $3,258,855, or $172,062-per-acre, from Cohen 2006 Trust. Newmark Grubb Knight Frank’s Ben Millis and Chris Beets of represented the seller; Colliers International’s Susan Borst represented the buyer.

Brookstone Apartments Sold for $10.5 Million

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Masuda Family Trust bought the 193-unit Brookstone Apartments at 1401 N. Lamb Blvd. in for $10,550,000, or $54,663-per-unit, from Brookstone Apartments LLC. NAI Vegas’s Patrick Sauter, Art Carll, and Devin Lee represented the seller.

Helping Hearts Foundation Signs 3-Year Lease

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Helping Hearts Foundation signed a 3-year $38,400 lease for 940 square feet of office space inside Samrose Center at 181 Arroyo Grande Blvd., Suite 120, in Henderson. Avison Young’s Aaron Goldberg, Barton Hyde, and Brandon McCool represented the lessor, Samrose Center LLC. The reported average rent equals $1.13 per square foot.