San Diego-based Pathfinder Partners LLC has acquired 64 units in Sky Las Vegas – a 42-story, 409-unit luxury condominium community at 2700 Las Vegas Blvd. South on the north end of the Las Vegas strip. The purchase price is $18.1 million.
The unsold units are a mix of one-, two- and three-bedroom plans, ranging from 930 to 1,780 square feet. Pathfinder plans to initially rent the condos and, after renovating all 64 units, will implement a retail sales program over the next 12 to 24 months.
“High rise condo prices in Las Vegas have rebounded over the past several years and we were able to purchase Sky at a significant discount to replacement cost and the prices of recent sales in the complex,” said Lorne Polger, senior managing director of Pathfinder Partner.
Sales of significance
* Brokers with Sun Commercial Real Estate negotiated the $12.7 million sale of a suburban Class A office building in the West Valley.
Cathy Jones, Paul Miachika, Jessica Cegavske, Roy Fritz, Riley Foley and David Livingston represented Durango West Properties LLC in its sale of the 58,259-square-foot building at 7881 W. Charleston Blvd. The buyer was Howe Family LP.
* Beltway 4.77 LLC bought 11.51 acres of vacant land parcel at Executive Terminal Drive and Executive Airport Drive in Henderson. The transaction value was $2.4 million. Robert Torres and Scott Gragson of Colliers International represented the buyer.
* Sackley Family Trust purchased retail bar/tavern property on 0.96 acres at 2801 N. Tenaya Way in Las Vegas. The transaction value was $1.75 million. Tom Naseef and Jeff Naseef of Colliers International represented the seller, 2801 North Tenaya Way LLC, and the buyer.
* Castle Rock Construction bought a 3,646-square-foot building on a 7,800-square-foot parcel at 4865 Nevso Ave. The company closed on the $500,000 deal with a $206,000 SBA 504 loan from TMC Financing, as well as a conventional loan through Bank of America.
Leases of interest
* Dermody Properties leased 148,635 square feet of industrial space — about 40 percent of LogistiCenter, its latest Las Vegas industrial development project — to Southern Enterprises, a home furnishing designer and manufacturer that anticipates fulfilling 25 percent of its direct-to-consumer orders from the North Las Vegas facility at Cheyenne, two miles east of Interstate 15. Colliers International Las Vegas Vice President Susan Borst and Executive Vice President Dan Doherty represented Dermody Properties in the lease, and Paul Chaffee, Will Chaffee and Mark Miller of NAI Global represented Southern Enterprises.
* Biomet West Inc. leased 5,000 square feet of industrial space in Arrowhead Commerce Center, Building 7, at 6295 S. Pearl St., Suite 600, in Las Vegas. Spencer Pinter, Dan Doherty, Susan Borst, Chris Lane and Jerry Doty of Colliers International represented the lessor, ProLogis.
* PlantPusher Enterprises Inc. leased 4,800 square feet of industrial space in Valley View Corporate Center, Phase II, at 6225 S. Valley View Blvd., Suite E, in Las Vegas. Spencer Pinter of Colliers International represented the lessor, Valley View I, II & III LLC.
* World Guns LLC leased 1,610 square feet of retail space in Revere Marketplace at 955 W. Craig Rd. in Las Vegas. Renae Russo of Colliers International represented the lessee.
* Front Line Inc. leased 3,369 square feet of industrial space in Valley Freeway Center, Phase III, at 7715 Commercial Way, Suite 110, in Henderson. Greg Pancirov and Mike DeLew of Colliers International represented the lessor, VFC III Industrial Buildings LLC.