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DEAL WATCH: BUSINESS CENTER FINDS TENANTS

Updated February 8, 2019 - 10:17 am

BLUE DIAMOND BUSINESS CENTER FINDS TENANTS

Colliers International – Las Vegas has announced the successful leasing of Juliet’s 322,560-square-foot distribution facility at Blue Diamond Business Center in the southwest submarket. The speculative industrial building was the first new development project in the southwest submarket to be fully leased prior to completion this cycle. Blue Diamond Business Center is a 110-acre master-planned business park encompassing over 1.5 million square feet of office/warehouse space. The project is 0.75 miles from the Blue Diamond and I-15 Beltway interchange with access to McCarran International Airport and the Las Vegas Strip.

Blue Diamond Business Center was leased to five different tenants ranging in size from 40,320 square feet to 120,000 square feet. These new Blue Diamond Business Center tenants will benefit from the close proximity to the Las Vegas Strip, McCarran International Airport and immediate access to California via I-15. The influx of activity at this project, and the overall strong demand for industrial product, has led Juliet Cos. to move forward with its next phase of development at Blue Diamond. This next phase will be known as the Blue Diamond Interchange Center. The new project will consist of four buildings ranging in size from 55,000 square feet to 190,512 square feet. These new buildings will provide industrial product in a variety of size ranges to meet the increased demand from local and regional companies in the southwest Las Vegas submarket.

Colliers International – Las Vegas’s Doherty Industrial Group was responsible for all of the leasing transactions at Blue Diamond Business Center. The team is led by Dan Doherty, SIOR, executive vice president of the industrial division of Colliers International. Doherty has been one of the top five producers in the Las Vegas office for the past 14 years. Doherty and his team have brokered over 3.5 million square feet of industrial property over the past year. His industrial team includes: Senior Vice President Paul Sweetland, SIOR; Vice President Chris Lane, CCIM; and Associate Vice President Jerry Doty.

COMPLETED SALES TRANSACTIONS:

• Berkadia has announced the sale of Alder Creek Villas, a 213-unit garden-style multifamily property in Reno. Managing Director Brian Anderson, Senior Director Angela Powers-Armstrong and Associate Director Jared Glover completed the sale on behalf of the seller, Miami-based Altis Cardinal LLC, and the buyer, Alder Creek Villas LLC. The deal closed on Nov. 19.

• Sunset Pavilion Shopping Center at 6315-6485 S. Rainbow Blvd. (APN 163-34-811-014, 020, 021, 023, 024, 025, 026) sold for $19.5 million, or $306 per foot. The 63,75-square-foot facility was on more than 8 acres of land and included seven class A retail buildings. James Wilmot with JW Commercial represented the seller, Brentwood Rainbow Sunset LLC. Jeff and Mica Berg with Logic Commercial represented the buyer, Paul Gallo. The Property was 100 percent occupied at close of escrow.

• Tenaya Medical Office Complex at 2901-2931 Tenaya Way (APN: 138-15-610-012, 013) has sold for $11,352,000, or $196 per square foot. The 57,851-square-foot complex is on more than 8 acres. Eric Pelfreyif of Woodside Capital Partners represented the seller, Mandelbaum MOB LLC. Jeff and Mica Berg of Logic Commercial represented the buyer, Paul Gallo. The property was 94 percent occupied at close of escrow.

• Centennial Gateway Office at 5785 Centennial Center Blvd. (APN: 125-27-411-014) has sold for $9,050,000, or $300 per square foot. The 30,172-square-foot center is on nearly 2 acres of land. Brendan Keating, Marc Magliarditi, Jeff and Mica Berg of Logic Commercial Real Estate represented the seller, TAG NW Mixed Use LLC. Cathy Jones of Sun Commercial represented the buyer, PREH Centennial, LLC & MRK Hospital LLC. The property was 100 percent occupied at close of escrow.

• A sale to BKK Smith Investments LLC. The 26,250-square-foot industrial property is in AirParc South at 1520 Executive Airport Drive in Henderson. The transaction value was $4,016,250. Greg Pancirov, SIOR, and Mike De Lew, SIOR, of RealComm Advisors represented the seller, DEV Investment I LLC.

• A sale to Premier Analytical Solutions LLC. The 28,200-square-foot industrial property is in AirParc South at 1560 & 1570 Executive Airport Drive in Henderson. The transaction value was $3,919,800. Greg Pancirov, SIOR, and Mike De Lew, SIOR, of RealComm Advisors represented the seller, DEV Investment I LLC.

• A sale to New West Holdings LLC. The 13,172-square-foot industrial property is at 2420 Losee Road in North Las Vegas. The transaction value was $2,500,000. Greg Pancirov, SIOR, and Mike De Lew, SIOR, of RealComm Advisors represented the buyer.

• A sale to 106th Street Development LLC. The 13,125-square-foot industrial property is in AirParc South at 1530 Executive Airport Drive in Henderson. The transaction value was $2,113,125. Greg Pancirov, SIOR, and Mike De Lew, SIOR, of RealComm Advisors represented the seller, DEV Investment I LLC.

• A sale to WITEAZPROP LLC. The 12,600-square-foot industrial property is in AirParc South at 1590 Executive Airport Drive in Henderson. The transaction value was $2,004,000. Greg Pancirov, SIOR, and Mike De Lew, SIOR, of RealComm Advisors represented the seller, DEV Investment I LLC. Jason Griffis and Alma Cuevas with Cushman and Wakefield represented the buyer.

• A sale to Freeman Executive Airport LLC. The 10,800-square-foot industrial property is in AirParc South at 1580 Executive Airport Drive in Henderson. The transaction value was $1,782,000. Greg Pancirov, SIOR, and Mike De Lew, SIOR, of RealComm Advisors represented the seller, DEV Investment I LLC.

Garrett Toft, SIOR, of CBRE Inc. represented the buyer in the purchase of 9.15 acres of industrial land at Mount Hood Street and Las Vegas Boulevard to Prologis LP for $1,600,000.

Kevin Higgins, SIOR, of CBRE Inc. represented the buyer, PKM Properties LLC, in the purchase of a 7,200-square-foot industrial building at 4250 Wynn Road for $1,275,000 .

Sean Zaher of CBRE Inc. represented the seller and buyer in the sale of a 9,227-square-foot industrial building at 2880 N. Commerce St. to John Nash for $975,000.

COMPLETED LEASE TRANSACTIONS:

• Nourison Industries Inc. leased 121,000 square feet of industrial space in Prologis I-15 Speedway Logistics Center at 5245 N. Sloan Lane. Garrett Toft, SIOR, of CBRE represented the landlord. Jason Griffis and Alma Cuevas with Cushman and Wakefield.

• DC Solar Solutions Inc. leased 40,170 square feet of industrial space in Pacific Business Center at 1070 Mary Crest Drive. Jake Higgins of CBRE represented the landlord.

• Unisync (Nevada) LLC leased 45,305 square feet of industrial space in Pacific Business Center at 1055 American Pacific Drive. Jake Higgins of CBRE represented the landlord.

• A lease to Lowes Home Center. The approximately 135,000-square-foot retail property is in Buffalo Square at 7550 Washington Ave. Scot Marker of Colliers International represented the lessor, CIII Asset Management.

• A lease to Laser Exhibit Services of Las Vegas. The approximately 21,600-square-foot industrial property is in Black Mountain Industrial Park at 150 Cassia Way, Suite 400 in Henderson. Susan Borst, CCIM, SIOR; Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane, CCIM; and Jerry Doty of Colliers International represented the lessor, DPIF NV 3 Black Mountain LLC (Dermody Properties).

• A lease to United California Freight Solutions Inc. The approximately 11,222-square-foot industrial property is in Arrowhead Commerce Center (Bldg. 7) at 6275 S. Pearl St., Suite 800 & 900. Spencer Pinter; Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane; CCIM; and Jerry Doty of Colliers International represented the lessor, KTR LV IV ; LLC.

• A lease to AA Auto Care. The approximately 3,800-square-foot retail property is in Craig Auto Plaza at 2304 E. Craig Road, Suite 110 in North Las Vegas. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the lessee.

• A lease renewal to Pinnacle Homes Inc. The 3,253-square-foot office property is at 9225 W. Flamingo Road, Suite 190. Grant Traub, SIOR, and Chris Connell of Colliers International represented the lessor, West Flamingo Road LLC.

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