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DEAL WATCH: Green Valley Town Center sells for $21.5M

GREEN VALLEY TOWN CENTER IN HENDERSON SELLS FOR $21.5M

Cushman & Wakefield has announced the sale of the Green Valley Town Center in Henderson. Henderson Town Center LLC acquired the 194,757-square-foot multibuilding mixed-use center for $21.5 million in September. The property is part of a massive high-class regional real estate portfolio being sold by American Nevada Co., represented by Rick Reeder and Brad Tecca of Cushman & Wakefield’s Capital Markets. Cushman & Wakefield’s Geoffrey West, Jayne Cayton and Michael Dunn are also performing local expert advisory in the disposition.

The sale consisted of Green Valley Town Center II & III (4300 & 4500 E. Sunset Road) and Athenian Shops (4350 E. Sunset Road). Built in multiple phases from 1988 to 2001, the properties are on 20.3 acres in the northern portion of the 8,400-acre Green Valley master-planned community. Green Valley Town Center II is a 117,902-square-foot retail center anchored by Galaxy Luxury Theater and Barley’s Casino and Brewing Co. — which provides a unique unrestricted gaming use — plus several other smaller retailers. Athenian Shops is a 22,087-square-foot, two-story multitenant retail center that features four tenants including two restaurants.

Green Valley Town Center III is a 54,768-square-foot, two-story, mixed-use property, offering retail on the first floor and office space on the second floor. The property is anchored by Las Vegas Buffet, plus several other retail and office tenants. Collectively, the three properties were about two-thirds leased at the time of sale.

Reeder, executive managing director said, “This unique collection of properties is well-positioned to restore its standing as a major retail node for the Green Valley/southeast Las Vegas area, which is experiencing renewed interest and redevelopment. Further, the strong, diverse tenancy of the property forms a desirable financial profile with well-balanced rollover.”

COMPLETED SALES TRANSACTIONS

Chris Lexis and Joe Leavitt of Avison Young represented the seller, El Mirage LLC and the buyer, Coker Ellsworth in the 73,000-square-foot retail sale at 3100 Needles Highway in Laughlin. The total value of the transaction was $4,150,000.

• A sale to Paseo Verde Group LLC. The approximately 51,878-square-foot office property is known as the Pebble Place Business Center at 2140 and 2190 E. Pebble Road in Las Vegas. The transaction value was $12,648,000. Suzette LaGrange, CCIM; and Kara Walker, CCIM, of Colliers International represented the seller, CVK LLC.

• A sale to NV LAS DEC LLC. The approximately 5-acre land parcel is at APN: 176-01-201-005 and 006 in Las Vegas. The transaction value was $5,500,000. Brian Fike of Colliers International represented the buyer.

• A sale to Sarbjit Hudal. The approximately 41,676-square-foot medical office property is in St. Rose Dominican Medical Plaza at 98 E. Lake Mead Parkway in Henderson. The transaction value was $2,800,000. Stacy Scheer, CCIM, LEED GA; Grant Traub and Chris Connell of Colliers International represented the seller, St. Rose Dominican Medical Plaza LP.

• Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announces the sale of DaVita Dialysis, a 8,000-square-foot net-leased property. The asset sold for $2,525,000.

Dustin Alvino, first vice president investments, had the exclusive listing to market the property on behalf of the seller, a private investor. This DaVita Dialysis is at 1103 New River Parkway in Fallon.

• A sale to NV LAS DEC LLC. The approximately 2.5-acre land parcel is at APN: 176-01-201-004 in Las Vegas. The transaction value was $2,100,000. Brian Fike of Colliers International represented the buyer.

• A sale to Bentar Post LLC. The approximately .98-acre land parcel is in Buffalo 215 Business Park at APN: 163-34- 410-020 in Las Vegas. The transaction value was $550,000. Greg Pancirov, SIOR; and Mike DeLew, SIOR ,of Colliers International represented the seller, Janes Source Properties LLC.

• A sale to Guadaupe Buenrostro. The approximately 1,400-square-foot industrial property is in Pecos Industrial Complex at 4300 N. Pecos Road, Unit 25, in North Las Vegas. The transaction value was $142,000. Eric Molfetta, CCIM; and Chris Zunis of Colliers International represented the seller, Chriselle McMahon, and the buyer.

COMPLETED LEASE TRANSACTIONS

• A lease renewal to Safelite Fulfillment Inc. The approximately 42,240-square-foot industrial property is in Sunrise Industrial Park at 4601 E. Cheyenne Ave., Suite 111-113 in Las Vegas. Dan Doherty, SIOR; Chris Lane and Jerry Doty of Colliers International represented the lessor, ICON PAC Nevada Owner Pool 3 Nevada.

• A lease to NuBlu Sport and Logo Wear Inc. The approximately 7,617-square-foot industrial property is at 84 Corporate Park Drive in Henderson. Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane and Jerry Doty of Colliers International represented the lessor, Boreal LLC.

• A lease to Loup Inc. The approximately 5,761-square-foot industrial property is in Arrowhead Commerce Center (Bldg. 5) at 3595 E. Patrick Lane, Suite 700, in Las Vegas. Spencer Pinter, Dan Doherty, SIOR; Chris Lane and Jerry Doty of Colliers International represented the lessor, KTR LV IV LLC. Greg Pancirov, SIOR; and Mike DeLew, SIOR, of ColliersInternational represented the lessee.

• A lease to Richard Sakai. The approximately 5,000-square-foot industrial property is in Ampac Business Park at 1201 American Pacific Drive, Suite G, in Henderson. Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane; and Jerry Doty of Colliers International represented the lessor, 1201 American Pacific LLC.

• A lease to Cobra Kai Jiu Jitsu LLC. The approximately 2,400-square-foot retail property is in Sunset Ridge Center at 7060 W. Sunset Road, Suite 110, in Las Vegas. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the lessor, OSEA Development LLC.

• A lease to Cinnaholic. The approximately 1,393-square-foot retail property is in Pebble Marketplace at 1000 N. Green Valley Parkway in Henderson. Scot Marker of Colliers International represented the lessor, CH Realty VII/R Las Vegas Pebble LLC. Al Twainy, CCIM; and Amelia Hyden of Colliers International represented the lessee.

• A lease to Pain Center of Henderson. The approximately 1,196-square-foot medical office is at 98 E. Lake Mead Parkway, Suite 202, in Henderson. Stacy Scheer, CCIM, LEED GA; Grant Traub and Chris Connell of Colliers International represented the lessor, St. Rose Dominican Medical Plaza Limited.

• Paper Bag Beauty has leased approximately 1,783 square feet of retail space at 600 S. 6th St, in Las Vegas. Robert S. Hatrak II of Virtus Commercial represented the lessor, David Mason.

• HKM Employment Attorneys LLP has leased approximately 923 square feet of office space at The 1785 Office Center at 1785 E. Sahara Ave., Ste. 325, in Las Vegas. Brett S. Beck of Virtus Commercial represented the lessor, The 1785 Office Center LLC., and Gary S. Beck of Virtus Commercial represented the lessee.

• Second Chance Resources LLC has leased approximately 3,204 square feet of office space at Alexander Square at 3940 N. Martin Luther King Blvd., Ste. 110, in North Las Vegas. Brett S. Beck of Virtus Commercial represented the lessor, Alexander Square LLC, and Gary S. Beck of Virtus Commercial represented the lessee.

• Andres Almanza & Valentin Vargas have leased 1,808 square feet of retail space at Charleston Square at 4420 E. Charleston Blvd., No. 4, in Las Vegas. Robert S. Hatrak II represented both the lessee and the lessor, Charleston Vegas Partners LP.

• Gohar Margarin has leased 2,376 square feet of retail space at Westview Plaza at 5665 W. Sahara Ave., Ste. 104-105, in Las Vegas. Robert S. Hatrak II of Virtus Commercial represented both the lessor, Nick and Georgia Dalacas Trust, and the lessee.

• Safe Nest has leased approximately 10,000 square feet of office space at Meadows Business Center II at 3900 Meadows Lane in Las Vegas. Robert S. Hatrak II represented the lessor, 3900 Meadows LLC / David Mason, and Jarrad Katz of MDL represented the lessee.

• Our Little World Treatment Center has leased 2,377 square feet of office space at Horizon Ridge Commons at 2471 W. Horizon Ridge Parkway, Ste. 100, in Henderson. Brett S. Beck of Virtus Commercial represented the lessor. Shin Sookwe and Randal J. Gibson of First Federal Realty DeSimone represented the lessee.

• At Your Service Home Care has renewed their lease for the 3,634-square-foot office space at The 1785 Office Center at 1785 E. Sahara Ave. Ste. 430, in Las Vegas. Chris Emanuel of Virtus Commercial represented the lessor, The 1785 Office Center LLC.

• Zohar Margarin has leased 2,376 square feet of retail space at Westview Plaza at 5665 W. Sahara Ave., Ste. 104-105, in Las Vegas. Robert S. Hatrak II of Virtus Commercial represented both the lessor, Nick and Georgia Dalacas Trust, and the lessee.

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