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DEAL WATCH: Henderson apartment complex sells for $67M

TruAmerica, Oaktree acquire Henderson apartment complex for $67M

TruAmerica Multifamily, in partnership with funds managed by Oaktree Capital Management LP has acquired Aviata, a 456-unit multifamily property in Henderson, in an off-market transaction for $67 million. Built in 1998, Aviata offers a mix of one- and two-bedroom units, with amenities including 9-foot ceilings, central heating and air conditioning full-size washers/dryers and walk-in closets. In addition, the property’s grounds are enhanced by most lush and dense landscaping.

Aviata is TruAmerica’s eighth investment in Las Vegas and increases the company’s portfolio in the region to 3,251 units.

“With our existing influence in the market, there is an opportunity to achieve synergy through economies of scale and leveraging existing operational experience,” said Zach Rivas, director of acquisitions for TruAmerica.

Rivas added, “the southeast valley’s robust job market, along with Aviata’s central location and its high quality of construction, make it a solid addition to TruAmerica’s already strong presence in Las Vegas.”

“We like the long-term outlook for Phoenix and Las Vegas based upon positive demographics and the high demand for rental housing,” added Mark Jacobs, managing director of Oaktree. “As we continue to expand our income-producing, core-plus business through strategic relationships, we’re pleased to be partnering with an established operating partner like TruAmerica.”

Under the direction of Amir Eshkol, senior managing director of capital improvements, TruAmerica will undertake a significant capital improvement program on both properties, including upgrading all unit interiors, renovating all community amenities including pool areas and clubhouses, as well as remodeling exteriors and landscaping to enhance the curb appeal.

COMPLETED SALES TRANSACTIONS

• A sale to Centennial Crossroads LLC. The 105,414-square-foot retail property is in Centennial Crossroads at 6400 and 6454 Sky Point Drive. The transaction value was $21.5 million. Al Twainy, CCIM, and Amelia Henry of Colliers International represented the buyer.

Kevin Higgins, SIOR, and Garrett Toft, SIOR, of CBRE Inc. represented the buyer, VanTrust Real Estate LLC, in the purchase of 35.54 acres of vacant industrial land at Beesley Drive and Ann Road for $11 million.

• Kevin Higgins, SIOR, of CBRE Inc. represented the buyer and seller in the sale of 25.55 acres of vacant land at 2800 and 2960 Fremont St. to 2800 Fremont LLC for $4,500,000.

Zac Zaher of CBRE Inc. represented the buyer, Joey Serdoz, in the purchase of 19,280 square feet of industrial space at 8375 Eastgate Road for $2,275,040.

• A sale to 2421 W. Bonanza Road LLC. The single lessee net leased (STNL) Popeye’sRestaurant is at 7065 N. Durango Drive. The transaction value was$1,850,000. David Grant, Chris Connelland Grant Traub of Colliers International represented the seller, Clark County Credit Union.

• Marcus & Millichap has announced the sale of a 2.49-acre parcel of commercial land at 9996 S. Las Vegas Boulevard. The parcel sold for $1,600,000. Dustin R. Alvino, Ray Germain and Brent Barrett, investment specialists in Marcus & Millichap’s Las Vegas office, had the exclusive listing to market the property on behalf of the seller, a family trust.

• A sale to DLJ Express Inc. The approximately 2.5-land parcel is on the northwest corner of Redwood St. and Gary Ave. (APN: 176-23- 401-006). The transaction value was $900,000. Dean Willmore, SIOR, and Alex Stanisic of Colliers International represented the buyer.

COMPLETED LEASE TRANSACTIONS:

• A lease to Art Guild of Philadelphia. The 87,007-square-foot industrial property is in Northgate Distribution Center No. 2 at 4490 Nexus Way. Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane; and Jerry Doty of Colliers International represented the lessee.

• A lease to Coast Aluminum and Architectural Inc. The 30,954-square-foot industrial property is in Airport Industrial Park at 3245 E. Patrick Lane. Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane; and Jerry Doty of Colliers International represented the lessor, GLP US Management LLC.

• Harris Las Vegas LLC, dba Quality Mechanical leased 21,174 square feet of industrial space in Hacienda Business Center at 5277 Cameron St. Garrett Toft, SIOR, of CBRE Inc. represented the lessee.

• A lease to Sanders Property Management LLC. The 6,440-square-foot industrial property is at 5655 Reference St. Dan Doherty, SIOR; Paul Sweetland; SIOR; Chris Lane; and Jerry Doty of Colliers International represented the lessee and the lessor, Reference Holdings LLC.

• A lease to ABY Chemical LLC. The 5,960-square-foot industrial property is in Nellis Industrial Park at 4440 Mitchell St. in North Las Vegas. 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 renewal to Jensen Hughes Inc. The 5,925-square-foot office property is in Airport Corporate Center at 376 E. Warm Springs Road, Suite 210. Chris Connell and Grant Traub of Colliers International represented the lessor, Airport CC LLC.

• A lease renewal to Majestic Stair Systems Inc. The 5,007-square-foot industrial property is in Eldorado Business Park at 7485 Dean Martin Drive, No. 109. Dean Willmore, SIOR; and Michael Willmore of Colliers International represented the lessor, TLF Logistics II Eldorado Business Center.

• A lease renewal to Rigging International. The 2,757-square-foot industrial property is in Northpointe Business Park at 4240 N. Lamb Blvd., No. 115. Dean Willmore, SIOR; and Alex Stanisic of Colliers International represented the lessor, FJM Northpointe Associates.

• A lease to Accelerated Enterprises Inc. The 2,580-square-foot industrial property is in Patrick Airport Center at 6038 Topaz St., Suite 8. Dean Willmore, SIOR, of Colliers International represented the lessor, TN Partners. Alex Stanisic of Colliers International represented the lessee.

• A lease to United States Postal Service. The 68,198-square-foot industrial property is in Arrowhead Commerce Center (Bldg.15) at 3755 E. Post Road, Suite 120, 130, 160 and 170. Spencer Pinter; Dan Doherty, SIOR; Chris Lane; and Jerry Doty of Colliers International represented the lessor, KTR LV III LLC.

• A lease to Move 4 Less LLC. The 20,439-square-foot industrial property is in Arroyo North Business Center (Phase I) at 6630 Arroyo Springs St., Suite 200. Spencer Pinter of Colliers International represented the lessee and the lessor, EJM Arroyo NorthI Property LLC.

• A lease renewal to Goodman Distribution Inc. The 19,125 square foot industrial property is in Craig Corporate Park at 4464 Calimesa St. Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane and Jerry Doty of Colliers International represented the lessor, NLV Sagebrush LLC. Susan Borst, CCIM, SIOR, of Colliers International represented the lessee.

• A lease to Watco Supply Chain Services LLC. The 14,040-square-foot industrial property is in Craig Distribution Center II at 4320 N. Lamb Blvd., Suite 100. Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane; and Jerry Doty of Colliers International represented the lessor, Roberts Ranch Venture LP.

• A lease to Bethesda Immanuel LLC. The 3,520-square-foot retail property is in The Shops at Lotus at 3616 Spring Mountain Road, Area C. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the lessor, Spring Mountain Apartments.

• A lease to 101 Mobility of Las Vegas. The 3,254-square-foot medical office property is in The Palms Business Centre South at 3151 W. Tompkins Ave. Alexia Crowley, CCIM, of Colliers International represented the lessee.

• A lease to Opensided MRI. The approximately 2,656-square-foot medical office property is at 600 S. Ranch Drive, Suite 101. Alexia Crowley, CCIM, of Colliers International represented the lessor, B K L P Nevada.

• A lease to Platinum Plastic Surgery LLC. The 2,382-square-foot medical office property is in Seven Hills Professional and Medical Center at 877 Seven Hills Drive, Suite 101. Alexia Crowley, CCIM, of Colliers International represented the lessee.

• A lease to MD Hwang LLC. The 1,903-square-foot retail property is in Summerlin Gateway at 7450 W. Lake Mead Blvd., Suite F-2. Al Twainy, CCIM, and Amelia Henry of Colliers International represented the lessor, Gateway Plaza 31 LLC.

• A lease to The Taco Stand. The 1,778 square foot retail property is in The Shops at Lotus at 3616 Spring Mountain Road, Area B. Chris Clifford; Steve Neiger and Brett Rather of Colliers International represented the lessor, Spring Mountain Apartments.

• A lease to Elite Health Medical LLC. The 1,601-square-foot industrial property is in Cameron Hacienda at 5320 Cameron St., Suite 6. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the lessor, VTT-Cameron Properties LLC.

• A lease to Tru Built Construction LLC. The 1,601-square-foot industrial property is in Cameron Hacienda at 5320 Cameron St., Suite 9. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the lessor, VTT-Cameron Properties LLC.

• A lease to HD Smoke Shop. The 1,163-square-foot retail property is in Summerlin Gateway at 7460 W. Lake Mead Blvd., Suite E-5. Al Twainy, CCIM, and Amelia Henry of Colliers International represented the lessor, Gateway Plaza 31 LLC.

• A lease to Pamela M Rogers. The 1,200-square-foot office property is in Charleston Buffalo Plaza at 1151 S. Buffalo Drive, Suite 230. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the lessor, 1151 S Buffalo Dr. LLC.

• A lease to Cool Storage of Las Vegas LLC. The 6,537-square-foot industrial property is in Arroyo South Business Center (Phase I) at 7061 W. Arby Ave., Suite 120. Spencer Pinter of Colliers International represented the lessor, EJM Arroyo South I Property LLC.

• A lease to Viatron Systems Inc. The 6,352-square-foot industrial property is in Decatur Bell Commerce Center at 5030 S. Decatur Blvd., Suite A/B/C. Dean Willmore, SIOR, and Michael Willmore of Colliers International represented the lessor, FJM Vegas Holdings LLC.

• A lease to Blue Blocker Corp. The 5,725-square-foot industrial property is in Arroyo South Business Center (Phase I) at 7020 W. Warm Springs Road, Suite 160. Spencer Pinter of Colliers International represented the lessor, EJM Arroyo South I Property LLC.

• A lease to CHIC-Nevada LLC. The approximately 3,000-square-foot retail property is in Runnin Rebel Plaza at 4550 S. Maryland Parkway, Suite 1-3. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the lessor, The GVT Grandkids Trust.

• A lease to Portelli Window Film Installation LLC. The 1,941-square-foot industrial property is in Eastern Commerce Center at 6000 S. Eastern Ave., Suite 14-B. Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane; and Jerry Doty of Colliers International represented the lessor, Harsch Investment Properties LLC.

• A lease to Faccinto & Mayer Eye Care. The 1,232-square-foot retail property is in Scottsdale Plaza at 1320 E. Pebble Road, Suite 100. Chris Connell and Grant Traub of Colliers International represented the lessor, SREF Scottsdale Plaza LLLP.

• A lease to Gear Up By Design LLC. The 1,119-square-foot retail property is in The Village at Centennial Springs at 7557 Norman Rockwell Lane, Suite 130. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the lessor, RH Centennial LLC.

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