Monthly Archives: August 2014

Henderson Office Space Sold for $1.3 Million

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TSM New Beginnings LLC bought 5,000 square feet office inside Corporate Center at 8880 W. Sunset Road, Building G, in Henderson for $1,323,161, or $265-per-square-foot, from Stable Development. Colliers International’s Andrew Kilduff represented both the buyer and the seller.

Colliers: Office Market Improves in Second Quarter

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Southern Nevada’s office market improved during the second quarter, recording 444,818 square feet of net absorption that helped lower vacancy rates to 19.8%, which is two percentage points lower than a year ago, says Colliers International research manager Matt Stater. Asking lease rates, as a result, increased slightly to $1.87 per square foot on a full… Read more »

Valley Sees $124 Million in Land Sales in 2014

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Southern Nevada total land sales remains well below the levels seen in 2007, but during the first two quarters of 2014, there was 429.1 acres of commercial land that exchanged hands for $123.96 million in total volume, says Colliers International research manager John Stater. The average sales price of commercial land in 2014 was $577,605.50… Read more »

U.S. Labor Market Slack Continues

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U.S. labor market conditions improved in the second quarter, with the headline unemployment rate declining to 6.1% in June, said a press release last Thursday from the Federal Reserve Board. The caveat? The Fed said a “range of labor market indicators suggests that there remains significant underutilization of labor resources” and the July unemployment rate released Friday rose… Read more »

Pediatric Dental Signs $384,000 NLV Lease

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Pediatric Dental Associates signed a 5-year $384,000 lease for 4,000 square feet of retail space, on 1.31 acres, at 1302 W. Craig Road in North Las Vegas. Cushman & Wakefield-Commerce’s Dan Hubbard represented the lessor, Reno One LLC. The reported average rent equals $1.60-per-square-foot triple net.

Penn Mutual Insurance Signs $281,158 Lease

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Penn Mutual Insurance Co. signed a 5-year $281,158 lease for 2,740 square feet of office space inside Gardens Plaza at 3605 S. Town Center Drive, Suite C, in Las Vegas. Cushman & Wakefield-Commerce’s Dan Palmeri represented the lessee; AGP Capital’s Laus Abdo represented the lessor, Blizzard Enterprises LLC. The reported average rent equals $1.71 per… Read more »

Cameron East Business Park Signs 2-Year Lease

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Candace Crutchfield signed a 2-year, $63,963 lease for 4,635 square feet of flex industrial office space inside Cameron East Business Park at 4310 S. Cameron Street, Suite 7, in Las Vegas. Cushman & Wakefield-Commerce’s Bob Hawkins represented the lessor, Cameron Industrial Park LLC; Meridias Realty Group’s Shawn Preston represented the lessee. The reported average rent… Read more »

Stevenson Industrial Building Sold for $1.6 Million

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LVMC LLC bought a 16-year-old 12,500-square-foot of industrial building, on 0.75 acres, at 6265 Stevenson Way in Las Vegas for $1.6 million, or $128-per-square-foot, from MC International LLC. Cushman & Wakefield-Commerce’s Danielle Steffen and Amy Ogden represented the seller; Northcap’s Nicole Tomlinson represented the buyer.

Boulder Crossroads Signs $618,570 Tenant Lease

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Preservation on Main, Inc. signed a 90-month $618,570 lease for 5,220 square feet of retail space inside the 7-year-old Boulder Crossroads at 5230 Boulder Hwy., Suites 110–125, in Las Vegas. Cushman & Wakefield-Commerce’s Todd Manning represented the seller; Cushman & Wakefield-Commerce’s Dan Palmeri represented the lessor, Boulder at Nellis LLC. The reported average rent equals… Read more »

Clinic 21 Signs $591,531 Retail Lease

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Clinic 21 signed a 7-year-old, $591,531 lease for 3,100 square feet of retail space inside Builder Crossroads at 5216 Boulder Hwy., Suite 105, in Las Vegas. Cushman & Wakefield-Commerce’s Todd Manning represented the lessor, Boulder at Nellis LLC. The reported average rent equals $2.27-per-square-foot triple-net.