Posts Categorized: Power Broker Confidential

“The Venue” Breaks Ground in Downtown Las Vegas

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Trident Construction Corp. is building the 3-story, 36,000-square-foot Venue Las Vegas at 760 W. Fremont Street, across from the Downtown Container Park. Developer Victor Perillo held a groundbreaking ceremony earlier today, with Las Vegas Mayor Carolyn Goodman in attendance who called the project “needed” for downtown meeting and events. The building, designed by Novus Architecture, will feature… Read more »

Las Vegas Names David Bowers Public Works Director

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David N. Bowers today was promoted from city engineer to public works director for Las Vegas, Nev. He joined the city as a program manager in 2005. Bowers will oversee 250 employees and $80 million in annual infrastructure projects, while maintaining 1,258 miles of roadway, 1,640 miles of sanitary sewers and 330 miles of storm drain… Read more »

Nacho Daddy To Occupy Former Firefly Restaurant Pad

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Nacho Daddy signed a 64-month $1,043,874 lease for the 6,150-square-foot former Firefly Tapas, Kitchen & Bar at 9560 W. Sahara Avenue, in Las Vegas. Virtus Commercial’s Jeff Mitchell represented the lessee and lessor, Continental Property LLC. The reported average rent equals $2.65 per square foot.

Enterprise Rent-A-Car Signs $184,752 Lease Renewal

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Enterprise Rent-A-Car signed a 5-year $184,752 lease renewal for 1,200 square feet of retail space inside the 10-year-old Desert Palms Plaza, on 1.11 acres, at 4845 S. Fort Apache Road, Suite A, in Las Vegas. Virtus Commercial’s Chris Emanuel and Tricia MacKenzie represented the lessee and lessor, Desert Palms Partners LLC. The reported average rent equals… Read more »

Martin-Harris Builds New Ainsworth Headquarters

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Martin-Harris Construction is building the new 291,000-square-foot headquarters for Ainsworth, a 19-year-old Australian-based global gaming technology provider, at Jones Boulevard and Sunset Road in Las Vegas. The two-story office, manufacturing, and warehouse complex, on 23.7 acres, is scheduled to finish in mid-2016. The 37-foot-tall precast concrete tilt-up building, designed by KGA Architecture, will create 125 direct and indirect… Read more »

Sultan’s Grill Signs $204,000 Henderson Lease

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Sultan’s Grill signed a 5-year, $204,000 lease for 2,000 square feet of retail space inside Black Mountain Marketplace, on 3.55 acres, at 72 W. Horizon Ridge Parkway, Suite B-105, in Henderson. Virtus Commercial’s Jeff Mitchell and Preston Abell represented the lessee and lessor, Blk Mtn 1 & Blk Mtn 2 LLC. The reported average $1.70… Read more »

Anthem Highlands Shopping Center Signs $260,625 Lease

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Perlieu Inc. signed a 63-month $260,625 lease for 2,500 square feet of retail space inside the 8-year-old Anthem Highlands Shopping Center, on 0.75 acres, at 2840 Bicentennial Parkway, in Henderson. Virtus Commercial’s Jeff Mitchell and Preston Abell represented the lessee and lessor, Excel Anthem LLC. The reported average rent equals $1.65 per square foot.

Report: Retail Rents Slip in Second Quarter

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Southern Nevada retail vacancy slipped to 9.1% in the second quarter for a one-point increase from one year ago, says Colliers International research manager John Stater. The average retail asking rent dropped to $1.30 per square foot, which is a 2-cent decrease from a quarter ago and 4 cents less than last year. The upside,… Read more »

Valley Medical Office Market Dips in Second Quarter

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Southern Nevada medical office vacancy stood at 19.8% in the second quarter, which a 1% increase from one quarter ago and one year ago, says Colliers International research manager John Stater. The average medical office asking rent rose to $2.15 per square foot or 4 cents more than a quarter ago and one year ago…. Read more »

The Vitamin Shoppe Signs $1 Million Las Vegas Lease

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The Vitamin Shoppe signed a 10-year $1,049,596 lease to occupy the 3,994-square-foot former Pearle Vision building at 230 N. Nellis Boulevard in Las Vegas. Virtus Commercial’s Jeff Mitchell represented the lessee; Michael Swecker represented the lessor, Swecker Piedemonte Vitamin Nellis LLC. The reported average rent equals $2.19 per square foot.