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DEAL WATCH: March 6

CIP Real Estate makes two major Vegas transactions

CIP Real Estate, a national real estate investment and management company, has completed two commercial real estate deals in Las Vegas.

It managed the $92 million sale of 13 midbay industrial, flex and office buildings comprising 671,000 square feet within the Hughes Airport Center. CBRE’s Darla Longo, Todd Tydlaska, Barbara Emmons Perrier, Kevin Higgins and Garrett Toft and team represented the seller, a joint venture of Oaktree Capital and CIP Real Estate.

The second deal was a $5.5 million sale of a 32,000-square-foot office building, also within Hughes Airport Center. The building is 100 percent leased to Scientific Gaming. The Higgins/Toft team at CBRE represented CIP and Colliers’ Taber Thill and team represented the buyer, an affiliate of Scientific Gaming, in the transaction.

COMPLETED SALE TRANSACTIONS

• Marcus & Millichap has announced the sale of Durango Edna Plaza, a 16,725-square-foot retail at 2960 and 2980 S Durango Drive. The asset sold for $2,100,000 million. Ray Germain and Michelle Magdaluyo had the exclusive listing to market the property on behalf of the seller, a private investor.

• A sale to Julius Inc. The 4,331-square-foot industrial property is in Northpointe Business Center at 4210 N. Lamb Blvd., Unit 120. The transaction value was $455,000. Dean Willmore, SIOR, and Alex Stanisic of Colliers International represented the seller, FJM Northpointe Associates LLC.

COMPLETED LEASE TRANSACTIONS

• A lease to Summit Restoration Inc. and Everest. The approximately 7,785-square-foot industrial property is at 5870 La Costa Canyon Court. Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane and Jerry Doty of Colliers International represented the lessor, Dean and Penny Brunner 1985 Trust.

Joe Leavitt and Chris Lexis of Avison Young represented the tenant, Run It Up Studios, in the 5,993-square-foot, 36-month industrial lease located at 8350 Durango, Suite 160. The total value of the transaction was $303,500.

• A lease to EcoPet Waste Systems Inc. The 5,051-square-foot industrial property is in Patrick Airport Business Center at 3095 E. Patrick Lane, Suite 16. Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane and Jerry Doty of Colliers International represented the lessor, Harsch Investment Properties LLC.

• A lease renewal to Firestop Commercial LLC. The 2,727-square-foot industrial property is in Pace Commerce Center at 4489 W. Reno Ave. Dean Willmore, SIOR, of Colliers International represented the lessor, FJM Vegas Holdings LLC.

• A lease to Ramasus Enterprises LLC. The 1,769-square-foot retail property is in Lake Mead Gateway Plaza at 110 N. Boulder Highway, Suite 100-110 in Henderson. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the lessee.

• A lease to Cool Tea LLC. The approximately 1,200-square-foot retail property is in Charleston Buffalo Plaza at 1181 S. Buffalo Drive, Suite 150. Chris Clifford, Steve Neiger and Brett Rather of Colliers International represented the lessor, 1151 S Buffalo Drive LLC.

• A lease to Golden Gate America LLC. The 219-square-foot office property is in Bermuda Springs Office Park at 330 E. Warm Springs Road, Suite B-41. Chris Connell and Grant Traub of Colliers International represented the lessor, Office By Airport LLC.

• A lease to Scott Hetrick. The 179-square-foot office property is in Bermuda Springs Office Park at 330 Warm Springs Road, Suite A-07. Chris Connell and Grant Traub of Colliers International represented the lessor, Office By Airport LLC.

• A lease to Xtreme Green Electric Vehicles Inc. The 124,546-square-foot industrial property is in Sunrise Industrial Park 6 at 2821 N. Marion Drive. Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane and Jerry Doty of Colliers International represented the lessor, Prologis NA3 NV LLC.

• A lease to Cannon Cochran Management Services Inc. The 7,778-square-foot office property is in City Center West at 7251 W. Lake Mead Blvd., Suite 280. Patti Dillon, SIOR; and Taber Thill, SIOR, of Colliers International represented the lessor, 7251 West Lake Mead LLC.

• A lease to The Joint. The 1,432-square-foot retail property is in Pebble Marketplace at 1000 N. Green Valley Parkway, No. 230 in Henderson. Scot Marker of Colliers International represented the lessor, CH Realty VII/R Las Vegas Pebble LLC8.

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