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DEAL WATCH: Industrial property sells for $16M

COLLIERS CLOSES $16M SALE ON INDUSTRIAL PROPERTY

Colliers International — Las Vegas has announced that Matter Real Estate Groups’ newly constructed 155,790-square-foot class A industrial building at 4325 Corporate Center Drive has been sold for $16 million to Christie Lites — a large stage lighting company. Jerry Doty of Colliers International represented the buyer Christie Lites. Dan Doherty, Paul Sweetland and Chris Lane represented the seller, Matter Real Estate Group.

Matter Real Estate Group acquired Craig shortly after its formation. The building, which is adjacent to the 1.2-million-square-foot Las Vegas Corporate Center in North Las Vegas, allows immediate access to Interstate 15 via the Craig Road interchange and is near the Las Vegas Strip and McCarran International Airport.

COMPLETED SALES TRANSACTIONS:

• Colliers International — Las Vegas has announced the lease of Panattoni’s newly completed 482,300-square-foot distribution facility at South15 Airport Center in Henderson to Smith Food & Drug Centers Inc. The facility will be used by Smith’s as a distribution center for dry good products serving locations in the Southwest, including Nevada, New Mexico, Arizona and Utah. This Smith’s facility will bring more than 200 employment opportunities to the valley.

The South15 Airport Center, where the new Smith’s distribution center is located, is a 150-acre master-planned office and industrial park. Nearby businesses include: the Levi Strauss distribution center, Turano Nevada Baking, the future Raiders practice facility, Maverick Airlines, Southwest Gas Training and Operations Center, Cox Communications, a future Costco store, Cashman Equipment and the M Resort. Susan Borst, SIOR, CCIM, and the Colliers International — Las Vegas’ industrial team were responsible for the transaction. The Colliers team is led by Dan Doherty, executive vice president of the industrial division of Colliers International. The industrial team includes Paul Sweetland, SIOR; Chris Lane; and Jerry Doty.–

• A sale to Green Circle Foundation LLC. The 24,447-square-foot retail property at 3815-3835 Blue Diamond Road. The transaction value was $9,100,000. Dan Gluhaich of Colliers International represented the buyer.

• A sale to 325 SW LLC. The approximately 70,000-square-foot office property is in Park Place at 325 E. Warm Springs Road. The transaction value was $8,700,000. Taber Thill, SIOR, and Patti Dillon, SIOR, of Colliers International represented the seller, GCCFC 2005-GGC Warm Springs Office.

Robin Willett; Devin Lee, CCIM; Jerad Roberts; and Jason Dittenber of Northcap Commercial Multifamily, have announced the recent sale of Tara Vista Apartments for $4,307,000. This sale consisted of 56 multifamily units built in 1963 at 3883, 3931 and 3979. This off-market transaction closed Aug. 2. Northcap Multifamily represented the buyer, Westland Tara Vista LLC.

• A sales transaction was completed for Buffalo Center of 25,585 square feet. This property is at 911 N Buffalo Drive. Jarrad Katz, SIOR, CCIM, and Galit Kimerling of MDL Group represented the seller. The property sold for $2,800,000.

• A sale to Green Unicorn LLC. The approximately 8,250-square-foot office property is at 229 S. Las Vegas Blvd. The transaction value was $1,225,000. Taber Thill, SIOR, and Patti Dillon, SIOR, of Colliers International represented the seller, Nemo Inc.

• A sale transaction was completed for Tymer Center of 6,819 square feet. This property is at 3519 S. Maryland Parkway. Hillary Steinberg, Matt Patros and Brendan Leake of MDL Group represented the seller. The property sold for $835,000.

• Marcus & Millichap has announced the sale of Jiffy Lube, a 1,786-square-foot, net-leased property. The asset sold for $815,000. Dustin R. Alvino, first vice president investments, in Marcus & Millichap’s Las Vegas office, had the exclusive listing to market the property on behalf of the seller, a private investor. Jiffy Lube is at 2020 E. Sahara Ave.

• Newmark Knight Frank represented DM Rainbow LLC in the sale of NWC Rainbow Blvd. & Maulding Ave., a 0.35-acre parcel of land, to Latco SC Inc. Total consideration was $545,000. Managing Director Michael Zobrist and Executive Managing Director Nelson Tressler of Newmark Knight Frank represented the seller in the transaction.

COMPLETED LEASE TRANSACTIONS:

Daniel Albar dba Duke of Computers leased 1,220 square feet of retail space at 7445 S. Durango Drive, Ste 104, from DM Rhodes Ranch LLC. Total consideration was $178,769. Managing Director Michael Zobrist and Executive Managing Director Nelson Tressler of Newmark Knight Frank represented the lessor in the transaction.

• A lease to DRD LLC. The approximately 8,400-square-foot industrial property is at 5016 Schuster St. Eric Molfetta, CCIM, and Chris Zunis of Colliers International represented the lessee.

• A lease to Global Outdoor Concepts Inc. The 6,297-square-foot industrial property is in Arroyo South Business Center (Phase I) at 7200 Montessouri St., Suite 140. Spencer Pinter of Colliers International represented the lessor, EJM Arroyo South I Property LLC. Susan Borst, CCIM, SIOR; Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane; and Jerry Doty of Colliers International represented the lessee.

• A lease to PSX Inc. The 5,007-square-foot industrial property is in Eldorado Business Park at 7485 Dean Martin Drive, No. 111. Dean Willmore, SIOR, and Mike Willmore of Colliers International represented the lessor, TLF Logistics II Eldorado Business Center.

• A lease to Advance Energy Inc. The 4,012-square-foot industrial property is in Arrowhead Commerce Center (Bldg. No. 3) at 3550 E. Post Road, Suite 500. Spencer Pinter; Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane; and Jerry Doty of Colliers International represented the lessor, KTR LV IV LLC.

• A lease to Competitive Supply Inc. The 3,632-square-foot industrial property is in Henderson Commerce Center II at 7375 Commercial Way, Suite 140 in Henderson. Alex Stanisic of Colliers International represented the lessee.

• A lease to Lanmor Services of Nevada LLC. The 2,258-square-foot industrial property is in Decatur Bell Commerce Center at 5010 S. Decatur Blvd., Suite E. Dean Willmore, SIOR, and Mike Willmore of Colliers International represented the lessor, FJM Vegas Holdings LLC.

• XPO Last Mile Inc. leased 36,360 square feet of industrial space in Prologis Corporate Center at 4050 Corporate Center Drive. Zac Zaher of CBRE represented the landlord.

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