MEDICAL BUILDINGS SELL FOR $17.1M
Bear Real Estate Advisors, a national investment services firm, represented Cypress West Partners in the acquisition of a four-building, multitenant medical office building portfolio in Henderson. Total sale price for the portfolio totaled $17.1 million.
“Medical office buildings are prized among real estate investors as they are historically among the most stable asset types,” said Matt Bear, founder and chief executive officer of Bear Real Estate Advisors. “Wigwam Professional Center is ideally located in the densely populated and affluent Green Valley neighborhood of Greater Las Vegas, where demand for health care services continues to grow along with the population.”
Built between 1998 and 2002, the portfolio totals approximately 50,000 square feet and is 100 percent leased. Located at 2500, 2510, 2625 and 2649 Wigwam Parkway, the portfolio is in close proximity to Parkway Surgery Center and St. Rose Dominican Hospital, with convenient access to Interstate 215.
Chris Cumella, partner with Cypress West, added: “Acquiring the Wigwam Professional Center furthers our aspiration of being the premier medical investor in the Las Vegas Valley. This property fits our unique skill set of building relationships with the local medical practitioners and providing risk-adjusted return to our investors. We appreciate Bear’s knowledge of our investment objectives, and for being a trusted source to help us reach our company’s goals.”
BRASS CAP DEVELOPMENT COMPLETES BUILDING
Brass Cap Development, a Las Vegas industrial space developer, announced the completion and sale of Bromigo, a concrete tilt up two-building industrial park that features one 78,489-square-foot building and one 75,992-square-foot building — both which can be divisible to 7,500 square feet. The property is near the Raiders practice facility, Amazon, Krogers distribution center and Turano Baking Co.
“We are thrilled to see Bromigo complete and sold,” said Tim Castello, CCIM, partner at Brass Cap Development. “Our developments in West Henderson continue to have a variety of benefits for business operators as the area provides a great foundation for successful and smooth logistic operations due to its desirable location in the valley.”
Situated on 10 acres near Amigo Road and Bruner Avenue, both Bromigo buildings feature 28-foot clearing heights, 9-foot-by-10-foot dock doors and 180-foot-long truck court. This Brass Cap Development property also offers premiere logistics as it is near the California state line while offering easy access to the Interstate 15 freeway and 215 Beltway.
LM Construction Co, a Las Vegas-based construction company, is the design-build general contractor.
COMPLETED SALES TRANSACTIONS
• A sale to KB Gateway on the Strip LLC/Northern Gateway LLC. The 37,499-square-foot retail property is on 1.82 acres of resort corridor land on the Las Vegas Strip at 2427 S. Las Vegas Blvd. The transaction amount was $57,000,000. CNR Retail: Chris Clifford; Steve Neiger, CCIM; and Brett Rather of Colliers International represented the seller, Sahara Development LLC.
• A sale to MCA Realty Inc. The 80,677-square-foot highly sought-after industrial building is at 7201 Post Road in the southwest valley. The transaction amount was $16,900,000. Doherty Industrial Group: Doherty Industrial Group: Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane, SIOR, CCIM; and Jerry Doty, SIOR, of Colliers International represented the seller, JMAC Industries Limited Partnership.
• A sale to B & C Properties Inc. The 41,942-square-foot industrial building is located at 5030-5040 Sobb Avenue. The transaction amount was $11,400,000. Doherty Industrial Group: Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane, SIOR, CCIM; and Jerry Doty, SIOR, of Colliers International represented the buyer.
• A sale to CD Holdings Co. LLC. The 3.67-acre senior housing land parcel is at the northeast corner of Alta Drive and Hualapai Way. The transaction amount was $7,440,000. Stacy Shapiro, CCIM, of Colliers International represented the buyer.
• CBRE has arranged the sale of Regency Plaza, a retail center at 320 N. Nellis Blvd. Rock Ridge Regency Plaza LLC purchased the property from Regency Developments LLC for $4.4 million. CBRE’s Roy Fritz, Michael K. Hsu, Dylan Heroy and Kellie Ortiz-Thompson represented the seller in the transaction. Built in 1999 and renovated in 2017, the 28,281-square-foot property is currently 100 percent occupied with five tenants, all on long-term leases.
• The sale of an office building to McPherson Family Trust, comprised of 7,200 square feet at 270 W. Lake Mead Blvd. in Henderson. The total value of the transaction was $4,215,000. Cathy Jones, Paul Miachika, Karim Chatoor, and Eric Cramer of Sun Commercial Real Estate Inc. represented the seller, GK Development Inc.
• The sale of a retail building to Nanagj Investment LLC, comprised of 7,700 square feet at 310 W. Lake Mead Blvd. in Henderson. The total value of the transaction was $ 3,700,000. Cathy Jones, Paul Miachika, Karim Chatoor, and Eric Cramer of Sun Commercial Real Estate Inc. represented the seller, GK Development Inc.
• Sean Zaher of CBRE Inc. represented the buyer, Odyssey Acquisitions LLC, in the purchase of 5 acres of vacant industrial land located at W. Warm Springs Road Myers Street for $3,700,000.
• Sean Zaher of CBRE, Inc. represented the seller in the sale of a 15,137-square-foot industrial unit at 12600 Chaparral Road to Red Diamond Holdings LLC for $3,250,000.
• A sale to EWM Investments LLC. The 11,250-square-foot industrial building is located at 4130 & 4140 W. Dewey Drive. The transaction amount was $3,050,000. Doherty Industrial Group: Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane, SIOR, CCIM; and Jerry Doty, SIOR of Colliers International represented the seller, Ferrari Family Trust and Denice DeStefano, trustee.
• A sale to Hopewell Development II LP. The 5.04-acre land parcel is near East Cheyenne Avenue and North Lamb Boulevard. The transaction amount was $2,738,835.00. Doherty Industrial Group: Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane, SIOR, CCIM; and Jerry Doty, SIOR, of Colliers International represented the seller, Gold Investments LLC et al.
• A sale to Overton Moore Properties. The 4.92-acre land parcel is near Sloan Road and Interstate-15. The transaction amount was $2,143,152.00. Doherty Industrial Group: Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane, SIOR, CCIM; and Jerry Doty, SIOR, of Colliers International of represented the buyer.
• A sale to Siena 63 Holding LP and Siena 64 Holding LP. The 2.5-acre land parcel is at the northeast corner of Craig Road and North 5th Street in North Las Vegas. The transaction amount was $2,000,000. Brian Fike of Colliers International represented both, the seller Beaudee Corp. and the buyer.
• A sale to Enterprise Car Rental. The 2.5-acre land parcel is at the northeast corner of Craig Road and North 5th Street in North Las Vegas. The transaction amount was $1,800,000. Brian Fike of Colliers International represented the seller Beaudee Corp.
•A sale to Rodriguez Mgmt Group LLC. The 7,122-square-foot industrial property is located at 5015 Schuster St. The transaction amount was $1,800,000. Eric Molfetta, MBA, and Amanda Irving of Colliers International represented the seller, NJS Reps & Associates LLC.
• A sale to David A McKinnon. The 7,297-square-foot industrial property is located at 5965-2 Wigwam Parkway. The transaction amount was $1,751,280. Eric Molfetta, MBA, and Amanda Irving of Colliers International represented the seller, VLE Holdings LLC.
• The sale of land to LV Petroleum LLC, comprised of 68.78 acres at Section 9 T33N R70E in West Wendover. The total value of the transaction was $ 1,450,000. Cathy Jones, Paul Miachika, Art Farmanali, Karim Chatoor, and Eric Cramer of Sun Commercial Real Estate Inc. represented the seller, Wendover Project LLC.
• A sale to All State Freight Inc. The 2.78-acre industrial land parcel is at the northwest corner of N. Nellis Boulevard and Alto Avenue in North Las Vegas. The transaction amount was $1,271,516.40. Eric Molfetta, MBA, and Amanda Irving of Colliers International represented the buyer.
• The sale of an office building to Armen Nikogosian, comprised of 4,048 square feet at 3291 Warm Springs Road, Suites Nos. 300/400. The total value of the transaction was $ 818,600. Cathy Jones, Paul Miachika, Karim Chatoor and Eric Cramer of Sun Commercial Real Estate Inc. represented the seller, Longford 6 LLC.
COMPLETED LEASE TRANSACTIONS
• A lease to Amerifirst Financial Inc., an Arizona corporation for a 65-month term. The 2,743-square-foot office space is within City Center West at 7251 W. Lake Mead Blvd., Suite 220. The Thill, Dillon & McInerney Office Team consisting of Patti Dillon, SIOR; Taber Thill, SIOR; and Megan McInerney of Colliers International represented the lessor, 7251 W Lake Mead LLC.
• A lease to The Bessemer Group Inc. for a 24-month term. The 1,767-square-foot office space is within City Center West at 7251 W. Lake Mead Blvd., Suite 240. The Thill, Dillon & McInerney Office Team consisting of Patti Dillon, SIOR; Taber Thill, SIOR; and Megan McInerney of Colliers International represented the lessor, 7251 W Lake Mead LLC.
• A lease to Your Design LLC for a 24-month term. The 1,350-square-foot industrial property is within Donovan Business Park at 4550 N Donovan Way, Suite 106 in North Las Vegas. The Telles Industrial Team consisting: Gabe Telles, Chase Pavlov and Ryan Hendershot of Colliers International represented the lessor, WBCS DICE LLC.
• Walker Digital Table Systems LLC renewed its lease of approximately 14,415 square feet of industrial space in Hughes Airport Center located at 1181 Grier Drive. Jake Higgins of CBRE represented the landlord.
• A lease with On Time Testing LLC for a 37-month term. The 960-square-foot retail space is within Grand Flamingo Plaza at 6620 W. Flamingo Road, Suite 12. Al Twainy, CCIM and Jennifer Lehr, CCIM, of Colliers International represented the lessor, GHV Group LLC.
• A lease with Infusion Management Inc., a California Corp. The 3,507-square-foot medical office property is within the Henderson Medical Corridor at Siena Pavilion, 2850 West Horizon Ridge Parkway, Suite 121/141 in Henderson. Chris Connell, SIOR; Grant Traub, SIOR; and Alexia Crowley, CCIM, of Colliers International represented the lessor, Clawiter Associates LLC, a California LLC. Stacy Shapiro, CCIM, of Colliers International represented the lessee.
• The lease of an office building to Brio Clinical Inc., comprised of 2,763 square feet at 4528 W. Craig Road, Suite No. 110 in North Las Vegas. The total value of the transaction was $201,138.00. Pete Janemark and Travis Laub of Sun Commercial Real Estate Inc. represented the landlord, AMJ Craig LLC.
• The lease of an office building to Diamond Professionals International, comprised of 1,978 square feet at 1620 Raiders Way, Suite No. 150 in Henderson. The total value of the transaction was $ 193,486.00. Lisa Hauger and Tim Erickson of Sun Commercial Real Estate Inc. represented the tenant.
• The lease of a retail building to Second Mountain Enterprises East Valley LLC, comprised of 859 square feet is at 25 Via Bel Canto, Suite No. 105 in Henderson. The total value of the transaction was $79,510.00. Pierce Wasserkrug of Sun Commercial Real Estate Inc. represented the tenant.
• A lease to OTC Dental Corp. for a 62-month term. The 3,395-square-foot industrial property is located within Northport Business Center at 3825 W. Cheyenne Ave., Suite 606. The Telles Industrial Team: Gabe Telles, Ryan Hendershot and Chase Pavlov of Colliers International represented the lessor, MCA IGF Northport LLC.
•A lease to a medical user for a 132-month term. The 12,693-square-foot retail property is located within Paradise Marketplace at 3830 E. Flamingo Road. Al Twainy, CCIM, and Jennifer Lehr, CCIM, of Colliers International represented the lessor, Paradise Marketplace LLC.
• A lease to A to Z Alterations for a 63.5-month term. The 1,210-square-foot retail property is located within Siena Town Center at 10080 W. Tropicana Ave., Suite 161. Al Twainy, CCIM, and Jennifer Lehr, CCIM, of Colliers International represented the lessor, Siena Town Plaza LP.
• Amazon.com Services LLC leased an additional 170,982 square feet of industrial space, for a total of 341,254 square feet, in Tropical Logistics Center located at 5801 N. Nicco Way. Kevin Higgins, SIOR, of CBRE represented the landlord.
• A lease to Rider Mobility Corp. for a 60-month term. The 5,180-square-foot industrial property is located within Northport Business Center at 3985 W. Cheyenne Ave., Suite 306. The Telles Industrial Team: Gabe Telles, Ryan Hendershot and Chase Pavlov of Colliers International represented the lessor, MCA IGF Northport LLC.
• A lease to LegalMatch.com for a 63-month term. The 11,242-square-foot office property is located in Marnell Corporate Center V at 6720 Via Austi Parkway, Suite 23. Patti Dillon, SIOR, and Megan McInerney of Colliers International represented the lessor, The Realty Associates Fund XI Portfolio, L.P. Taber Thill, SIOR, of Colliers International represented the lessee.
• A lease to Amel Youssef for a 60-month term. The 2,973-square-foot retail property is located in Paradise Marketplace at 3810 E. Flamingo Road. Al Twainy, CCIM, and Jennifer Lehr, CCIM, of Colliers International represented the lessor, Paradise Marketplace LLC.
• A lease to Team Jamie LLC for a 63.5-month term. The 1,775-square-foot retail property is located in the Trop Decatur Auto Center at 5055 S. Decatur Blvd., Suite 100. Al Twainy, CCIM, and Jennifer Lehr, CCIM, of Colliers International represented the lessor, WW & JJ Choi LLC.
• A lease to Cooper Zietz Engineers Inc., an Oregon corporation for a 39-month term. The 1,179-square-foot office property is located within Augusta Park at 1481 W. Warm Springs Road, Suite 142 in Henderson. The Thill, Dillon and McInerney Office Team consisting of Megan McInerney; Taber Thill, SIOR; and Patti Dillon, SIOR, of Colliers International represented the lessee.
• A lease to Watercooler JD LLC for a 60-month term. The 225-square-foot retail property is located within Scottsdale Plaza at 8880 S. Maryland Parkway. The CNR Retail Team consisting of Chris Clifford; Steve Neiger, CCIM; and Brett Rather of Colliers International represented the lessor, Highland & Sterling LLC.
• A lease to North Starr Inc for a 61-month term. The 16,000-square-foot industrial property is located within the 100 percent leased Greyhound Industrial Park at 6230 Greyhound Lane, Suite A/B. The Telles Industrial Team: Gabe Telles, Ryan Hendershot and Chase Pavlov of Colliers International represented the lessor, B&C Properties Inc and the lessee.