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DEAL WATCH: CBRE brokers $20.5M sale of two Summerlin office buildings

CBRE brokers $20.5M sale of two Summerlin office buildings

CBRE announced the sale of two office buildings at The Plazas of Summerlin at 1635 and 1645 Village Center Circle. Charles Moore, CSM; Marlene Fujita-Winkel, CCIM, of CBRE’s Las Vegas office represented the seller, The Plazas 1 LLC and The Plazas II, LLC, in the $20,575,000 transaction encompassing 87,685 square feet. The buyer, KB Acquisitions, LLC did not have representation.

The properties are situated near the intersection of Town Center Drive and Village Center Circle, two blocks from Summerlin Parkway. According to Winkel, the new owner will occupy some space within the buildings.

COMPLETED SALE TRANSACTIONS

• Dapper Cos. has announced the signing of Galaxy Theaters to The Bend, a retail and office project on 10 acres on West Sunset Road between Durango Drive and Riley Street. It will include 170,000 square feet of retail and a five-story office building. It will be the largest dining, entertainment and shopping campus in southwest Las Vegas. The 20-year lease was for 73,000 square feet.

• In a joint venture, San Francisco real estate firm Hamilton Zanze and New York financial brokerage Cantor Fitzgerald purchased a North Las Vegas apartment complex for almost $60 million. The 426-unit Arrow Canyon property is at 5005 Losee Road. Public records show the purchase for $59.65 million closed Feb. 16. The buyers have renamed the property Norterra Canyon and are planning $1.4 million worth of improvements, according to the news release.

• SunCap Property Group and Colony NorthStar have formed a joint venture and purchased 40 acres at the southeast corner of the intersection of N. Las Vegas Boulevard and N. Lamb Boulevard. Plans call for development of a Class A light industrial campus to be named SunPoint Crossing. The campus will accommodate 752,838 square feet across three buildings. Construction is slated to begin in Summer 2018 with delivery of shell buildings in Summer 2019.

• A sale to KB Home. The approximately 10 acres land parcel is on Fort Apache and Gomer roads (APN: 176-19-801-014 and 019). The transaction value was $4,266,666. Vince Schettler of Colliers International represented the seller, Mosaic Land Fund LLC, Mosaic Three LLC and Mosaic Four LLC.

• A sale of a 16,170-square-foot building at 5051 Stewart Ave. for $3,612,500 million. The sale closed March 2. The seller, Ten15 Development LLC and LDR & Associates LTD, was represented by J. Dapper and Andrea Catalano of Dapper Cos. The buyer, 5051 Stewart 1 LLC and 5051 Stewart 2 LLC, was represented by Armen Vartanian of Realty One Group Inc.

• The sale of a 5,807-square-foot building on 5020 Blue Diamond Road for $3,250,000. The sale closed Jan. 9. The seller, Ten15 Blue Diamond Decatur LLC, was represented by J. Dapper and Andrea Catalano of Dapper Cos. The buyer, BDLV-2 LLC, was represented by Mike Abel of Lee & Associates. The tenants in the building are Fruits and Roots, The Great Greek and Capriotti’s.

• A sale to Jason Gerber & LaNostra LLC. The approximately 5-acre land parcel is on Badura Avenue near S. Buffalo Drive (APN: 176-03-302-008). The transaction value was $2,200,000. Robert Torres and Scott Gragson of Colliers International represented the seller, Beltway 4.77 LLC.

• The sale of a 3,344-square-foot building at 3355 Novat St. for $2,115,000. The sale closed Feb. 13. The seller, Ten15 Novat LLC, was represented by J. Dapper and Andrea Catalano of Dapper Cos. The buyer, Yellowstone Park Hotel Group LLC, was represented by Mark Costello of Costello Realty and Management. Tenants include Marco’s Pizza and Capriotti’s.

• A sale to Joseph McKeon. The 9,339-square-foot industrial property is at 6671 Schuster St. The transaction value was $1,475,562. Dan Doherty, SIOR, Chris Lane and Jerry Doty of Colliers International represented the seller, JD Industrial LLC. Paul Sweetland, SIOR of Colliers International represented the buyer.

• A sale to Harry Hahn & Kyung Sook Hahn. The approximately 12,000-square-foot industrial property is at 3700 Regulus Ave. The transaction value was $1,400,000. Grant Traub and Chris Connell of Colliers International represented the buyer and the seller, Chung Enterprises LP.

• A sale to KB Home. The approximately 2.5 acre land parcel is on Fort Apache and Gomer roads (APN: 176-19-801-008). The transaction value was $1,156,000. Vince Schettler of Colliers International represented the seller, George Kuchuris.

• A sale to Summit Homes. The approximately 6.05-acre land parcel is at La Cienega Estates on La Cienega St. near Windmill Lane (APN:177-16-501-059). The transaction value was $1,050,000. Brian Fike of Colliers International represented the seller, Art Goldstrom/Dean Trust.

• A sale to KB Home. The approximately 2.5 acre land parcel is on Fort Apache and Gomer roads (APN: 176-19-801-007). The transaction value was $977,334. Vince Schettler of Colliers International represented the seller, George Kuchuris and Leonard and Laura Carrol.

• A sale to HPCL USA LLC. The approximately 5,232-square-foot industrial property is in Promontory Corporate Plaza at 4325 W. Patrick Lane, Suite 145. The transaction value was $775,000. Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane and Jerry Doty of Colliers International represented the seller, Geczi & Associates LLC.

• A sale transaction was completed for a single tenant industrial property of 39,348 square feet. This property is at 3828 Civic Center in North Las Vegas. Jarrad Katz, SIOR, CCIM, and Galit Kimerling of MDL Group represented the seller. The property sold for $4,775,000.

• A sale transaction was completed for an office property of 2,642 square feet. This property is at 1661 W. Horizon Ridge Parkway in Henderson. Jarrad Katz, SIOR, CCIM, and Galit Kimerling of MDL Group represented the seller. The property sold for $554,820.

• A sale transaction was completed for the land at 3511 & 3513 N. Nellis Blvd. of approximately 5 acres. Sam Scaletta of MDL Group represented the buyer. The property sold for $575,000.

Zac Zaher of CBRE Inc. represented the seller in the sale of a 3,420-square-foot industrial building located at 2055 Pabco Road to Kenneth R. Rapp & Lomalee T. Rapp Trust for $495,000.

• A sale to El Terre Property Holdings. The approximately 1,400-square-foot industrial/office property is in Pecos Industrial Complex at 4300 N. Pecos Road, Unit 38 in North Las Vegas. The transaction value was $140,000. Eric Molfetta, CCIM, and Chris Zunis of Colliers International represented the buyer.

COMPLETED LEASE TRANSACTIONS

• A lease to VCI Construction. The approximately 30,000-square-foot industrial property is in Cameron Yards at 5455 Cameron St. Dean Willmore, SIOR, and Alex Stanisic of Colliers International represented the lessee.

• A lease to It Works Millwork and Cabinetry LLC. The approximately 9,391-square-foot industrial property is in Arroyo North Business Center (Phase II) at 7575 W. Sunset Road, Suite 170. Spencer Pinter of Colliers International represented the lessor, EJM Arroyo North II Property LLC.

• A lease to Integrated Landscape Management LLC. The approximately 5,500-square-foot industrial property is in Arrowhead Commerce Center (Bldg. 6) at 6275 S. Pearl St., Suite 600. Spencer Pinter, Dan Doherty, SIOR; Chris Lane and Jerry Doty of Colliers International represented the lessor, KTR LV IV LLC.

• A lease to Jason D. Mills & Associates LTD. The approximately 3,452-square-foot office property is in Sahara Rancho Corporate Center at 2200 S. Rancho Drive, Suite 140. Chris Connell and Grant Traub of Colliers International represented the lessor, Sahara Rancho Office Center LLC. Patrick McNaught of Colliers International represented the lessee.

• A lease to D P Jean & Associates LLC. The 451-square-foot office property is in Scottsdale Plaza at 8870 S. Maryland Parkway, Suite 105. Chris Connell and Grant Traub of Colliers International represented the lessor, SREF Scottsdale Plaza LLLP.

• A lease transaction completed at Seven Hills Medical Center for Digestive Partners, of 2,574 square feet. The office building is at 870 Seven Hills Drive, Suite 201 in Henderson. Jarrad Katz, SIOR, CCIM, and Galit Kimerling of MDL Group represented the landlord.

• A lease transaction completed at Southern Hills Medical Center for Bernstein Pokroy & Lehrner Ltd, of 2,773 square feet. The office building is at 9280 W Sunset Road, Suite 438. Jarrad Katz, SIOR, CCIM, and Galit Kimerling of MDL Group represented the tenant.

• Two lease transactions completed at Cheyenne Fountains to Christian Santoyo and Moonlight Medical Supply LLC, a total of 3,200 square feet. The retail spaces are at 7440 W Cheyenne Ave. Hillary Steinberg, Matthew Patros, Lesllie Vasquez and Brendan Leake of MDL Group represented the landlord. The retail shopping center is now 100 percent leased.

• Two lease transactions completed at Stephanie Plaza to Abuzz LLC and Paul Duffield, a total of 2,300 square feet. The retail spaces are at 180 S Stephanie St. in Henderson. Hillary Steinberg, Matthew Patros, Lesllie Vasquez and Brendan Leake of MDL Group represented the landlord. The retail shopping center is now 100 percent leased.

• Vivint Smart Home has leased 7,441 square feet of space on the second floor of the University Gardens. The 45,320-square-foot retail/office building is at 4632-4634 S Maryland Parkway, Suite 101. It is directly across from University of Nevada, Las Vegas. Hillary Steinberg, Lesllie Vasquez and Brendan Leake of MDL Group represented the landlord.

• A lease expansion completed at Rancho Palomino to Grant A Gift Autism, a total of approximately 13,600 square feet. The office space is at 630 S Rancho Drive. Jerry Hagfeldt of MDL Group represented the landlord.

• Meritronics NV Inc. renewed a lease of 9,419 square feet of industrial space in the Hughes Airport Center located at 950 Pilot Road. Jake Higgins of CBRE represented the landlord.

• A lease to Dawn Food Products Inc. The approximately 30,000-square-foot industrial property is in Beltway Business Center (Bldg. 7) at 7055 S. Decatur Blvd., Suite 110. Spencer Pinter of Colliers International represented the lessee.

• A lease to Stock House LLC. The 21,176-square-foot industrial property is in World Market Distribution Center, No. 1 at 270 S. Martin Luther King Blvd. Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane and Jerry Doty of Colliers International represented the lessor, ICON PAC Nevada Owner Pool 3 Nevada.

• A lease to Superior Contracting Corp.. The 8,120-square-foot industrial property is in Arroyo North Business Center (Phase I) at 7465 W. Sunset Road, Suite 400. Spencer Pinter of Colliers International represented the lessor, EJM Arroyo North I Property LLC.

• A lease to S&M Auto Body & Paint LLC. The 3,650-square-foot industrial property is in Collins Business Park at 4374 E. Alexander Road. Dean Willmore, SIOR, and Mike Willmore of Colliers International represented the lessor, Terry T. and Bonnie J. Cairy.

• A lease to BBC Group NV LLC. The 2,923-square-foot industrial property is in Patrick Airport Center at 2900 E. Patrick Lane, Suite 3. Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane and Jerry Doty of Colliers International represented the lessor, Harsch Investment Properties LLC.

• A lease to Metro Vapor Las Vegas. The 1,340-square-foot retail property is at 8480 W. Desert Inn Road. Scot Marker of Colliers International represented the lessor, 8480 Desert Inn LLC.

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