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DEAL WATCH: California investor acquires 94-unit apartment complex

California investor acquires 94-unit Skyline Villas Apartments

Colliers International arranges the sale of the Skyline Villas apartments at 3501 S. Maryland Parkway for $7,385,000.

Thomas Olivetti of Colliers International Las Vegas and The HSK Team comprised of Bill Hahn, Trevor Koskovich and Jesse Hudson of Colliers International Phoenix represented the seller and procured the buyer.

Dumont 94 LLC, an entity formed by The Cosgrove Co. (William Cosgrove, principal) out of Belvedere, California was the buyer. The seller was FDL Associates LLC, an entity formed by Alpha Wave Investors out of Laguna Hills, California.

“Skyline Villas was unique opportunity for the buyer to capitalize on the accelerating Las Vegas multifamily market,” Olivetti said. “The property suited their 1031 exchange needs and is positioned for light interior and exterior upgrades that will enhance its overall appeal and add value.”

Skyline Villas consists of 42 buildings with 96,750 square feet of space situated on 3.05 acres.

The community is a blend of 43 percent one-bedroom, 51 percent two-bedroom, and 6 percent three-bedroom units.

The property is on the west side of Maryland Parkway across the street from The Boulevard Mall.

COMPLETED SALE TRANSACTIONS

• A 4.6-acre office complex, Red Rock Business Center, sold for $17 million. The property is on Brent Thurman Way at Patrick Lane in the southwest valley. Las Vegas real estate investor Constantino Noval was the buyer. Colorado-based Real Capital Solutions was the seller.

• A sale to VHAM Holdings LLC. The approximately 2.5-acre land parcel is on Buffalo Drive and Sunset Road (APNs: 163-34- 201-007 and 163-34- 201-008). The transaction value was $1,200,000. Vince Schettler of Colliers International represented the seller, SummerlinAsset Management LLC.

• A sale to Russell Commerce Center LLC. The 98,334-square-foot industrial property is in Russell Commerce Center at 5720 and 5740 S. Arville St. The transaction value was $13,000,000. Mike DeLew, SIOR; and Greg Pancirov, SIOR of Colliers International represented the buyer.

• A sale to Demetrio R. Tuason and Maria Concepcion. The 1,505-square-foot office property is in The Square at 7336 W. Post Road, Unit 6. The transaction value was $293,475. Brian Riffel, SIOR; Grant Traub; Chris Connell; and Tyler Jones of Colliers International represented the seller, Professional Warehouse Office Condos.

• A sale to AE Paule CPA Ltd. The 1,382-square-foot office property is in The Square at 7336 W. Post Road, Unit 5. The transaction value was $269,490. Brian Riffel, SIOR; Grant Traub; Chris Connell; and Tyler Jones of Colliers International represented the seller, Professional Warehouse Office Condos.

COMPLETED LEASE TRANSACTIONS

• MetalX LLC leased 8,652 square feet of industrial space at 3908 Civic Center Drive in North Las Vegas from Smurfit Kappa Orange County LLC. Total base rent was $85,395.24. The lessee’s borker was The Larkin Group, NAI Vegas; and the lessor’s broker was Colliers International.

• New Wave Enviro Products Inc. leased 29,250 square feet of industrial space at 8385 Eastgate Road in Henderson from Henderson Freeways Crossing LLC. The total base rent was $1,022,665.50. The lessee broker was The Larkin Group, NAI Vegas; and the lessor broker was Colliers International.

Pima Door & Supply Inc. leased 40,000 square feet of industrial space at 9 Sunset Way, Suite 160, 170, 180 and 190 in Henderson from Harsch Investment Properties LLC. The total base rent was $700,764.36. The Lessee broker was The Larkin Group, NAI Vegas.

• Mobility Center Inc. leased 7,500 square feet from Stericycle Inc. at 570 Corinthian Way. The total base rent was $197,263.70. The broker for the lessee was Phillip Keuch, NAI Vegas; and the broker for the lessor was Eric J. Larkin, NAI Vegas.

• A lease to High Impact Sign and Design LLC. The approximately 53,760-square-foot industrial property is in Henderson Interchange Center at 820 Wigwam Parkway in Henderson. Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane; and Jerry Doty of Colliers International represented the lessor, Henderson Interchange Center LLC.

• A lease renewal to Federal Express Corp. The approximately 53,530-square-foot industrial property is at 1121 W. Cheyenne Ave. in North Las Vegas. Dean Willmore, SIOR, of Colliers International represented the lessor, Belle Haven Realty Co. Patti Dillon, SIOR of Colliers International represented the lessee.

• A lease to Zama & Zama Inc. The approximately 14,353-square-foot industrial property is in Marnell Airport Center at 1945 E. Russell Road, Suite 208. Mike DeLew, SIOR, and Greg Pancirov, SIOR, of Colliers International represented the lessor, MAC One LLC.

• A lease to Eightcig LLC. The approximately 12,600-square-foot industrial property is in Arrowhead Commerce Center (Bldg. 12) at 6175 S. Sandhill Road, Suite 100. Spencer Pinter; Dan Doherty, SIOR; Chris Lane; and Jerry Doty of Colliers International represented the lessor, KTR LV IV LLC.

• A lease to Docufree Corp. The approximately 8,628-square-foot industrial property is in Arrowhead Commerce Center (Bldg. 11) at 6155 S. Sandhill Road, Suite 800. Spencer Pinter; Dan Doherty, SIOR; Chris Lane; and Jerry Doty of Colliers International represented the lessor, KTR LV IV LLC.

• A lease to Simtech (US) LLC. The approximately 7,200-square-foot industrial property is in Valley View Corporate Center (Phase II) at 6225 S. Valley View Blvd., Suite L. Spencer Pinter of Colliers International represented the lessor, Valley View LLC. Greg Pancirov, SIOR; and Mike Delew, SIOR of Colliers International represented the lessee.

• A lease to L5 Parcel Services LLC. The approximately 5,500-square-foot industrial property is in Arrowhead Commerce Center (Bldg. 6) at 6295 S. Pearl St., Suite 500. Spencer Pinter; Dan Doherty, SIOR; Chris Lane; and Jerry Doty of Colliers International represented the lessor, KTR LV IV LLC.

• A lease to CCS Las Vegas Janitorial Inc. The approximately 2,036-square-foot industrial property is in Patrick Commerce Center at 2875 E. Patrick Lane Suite A. Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane; and Jerry Doty of Colliers International represented the lessor, Harsch Investment Properties LLC.

• Silver State Schools Credit Union leased 2,936 square feet of retail space at 2250 E. Tropicana Ave., Ste. 5-8, from Tropren LLC. Total consideration was $281,856. Executive Managing Director Nelson Tressler and Managing Director Michael Zobrist of Newmark Knight Frank represented the lessor in the transaction.

• R&R Business Services LLC, dba The UPS Store, leased 1,600 square feet of retail space at 213 N. Stephanie St., Ste.G, from Stephanie Promenade LLC. Total consideration was $157,302. Executive Managing Director Nelson Tressler and Managing Director Michael Zobrist of Newmark Knight Frank represented the lessor in the transaction.

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