MIG REAL ESTATE SELLS PECOS PLAZA FOR $26.7M
MIG Real Estate LLC (MIG), a real estate investment company with assets across the Western U.S. and Sun Belt states, announced the sale of Pecos Plaza, a 124,000-square-foot medical and office campus in Henderson to Woodside Health for $26.7 million.
MIG bought the property in 2014 as part of an REO sale from Wells Fargo Bank for $17.5 million.
Built in 2006, the Class B medical and office campus is anchored by a two-story building complimented by seven single-story medical/professional office buildings situated on a large 7.62-acre parcel at 9005-9089 South Pecos Road. The assets are 93 percent occupied, and the tenant roster includes Belle Medical, Las Vegas Urology, Serenity Dental and Innovative Pain Care Center.
The seller was represented by Cushman & Wakefield and JLL.
CBRE SELLS OFFICE BUILDINGS
CBRE has arranged the sale of two office buildings. One for $15.25 million and another for $3.3 million
The largest sale was for City Centre Place, a 109,189-square-foot office building in downtown Las Vegas to California-based Ally Investments Inc.
Marc Magliarditi and Travis Landes of CBRE represented the seller, Dornin Investment Group (DIG). This transaction marks the duo’s third time representing DIG in the past five years, for a combined transaction total of over $75 million in consideration.
Located at 400 S. Fourth Street, City Centre Place is a class A, six-story, multitenant building in the heart of the government and legal trade district in the downtown area. The building was 36 percent occupied at the time of the sale. Amenities in the building include an atrium, parking in an attached garage, controlled access, monument signage and on-site security.
In the second transaction, CBRE has arranged the sale of an 8,367-square-foot office building. A private investor purchased the property from Manley Grier Investments for $3.3 million.
CBRE’s Travis Landes, SIOR; Michael Hsu; and Marc Magliarditi, CCIM, SIOR; represented the seller in the transaction.
The one-story building is located at 1100 Grier Avenue in the airport submarket, near Interstate 15 and Clark County Road 215. The property was originally built in 1989 and was remodeled in 2021.
COMPLETED SALES TRANSACTIONS
• Kevin Higgins, SIOR, and Garrett Toft, SIOR, of CBRE, Inc. represented the seller in the sale of an 80,180-square-foot industrial building at 3000 Lincoln Road to LaSalle Property Fund REIT, LLC for $22,000,000.
• Kevin Higgins, SIOR, of CBRE, Inc. represented the buyer, Columbia Nevada Carey Industrial, LLC, in the purchase of 86.18 acres of vacant industrial land at W. Carey Avenue and Simmons Street for $22,000,000.
• Robin Willett; Devin Lee, CCIM; and Jerad Roberts of Northcap Commercial announced the recent sale of the Nevso Cove Apartments for $16,280,000 ($290,714/unit). This sale consisted of 56 units built in 2001 located at 8780 W. Nevso Drive. This off-market transaction closed on July 12, 2022. Northcap Commercial represented the seller, Spyglass TIC I, LLC and Spyglass TIC II, LLC, on this sale.
• Jake Higgins, SIOR, of CBRE, Inc. represented the seller in the sale of a 19,209-square-foot industrial building portfolio at 6460-6478 Windy Road to Ken&Tel, LLC for $5,950,000.
• Garrett Toft, SIOR, of CBRE, Inc. represented the seller in the sale of a 23,200-square-foot industrial building at 1175 Center Point Drive to Laurie Pebworth for $5,125,000.
• A sale to Playstudios US, LLC. The 17,500-square-foot office property is at 10150 Covington Cross Drive within the Crossing Business Center 2 office complex with close proximity to Summerlin Parkway via Town Center Drive. The transaction amount was $4,950,000. The Thill, Dillon & McInerney Office team consisting of Taber Thill, SIOR; Patti Dillon, SIOR; and Megan McInerney in partnership with Mike Mixer, SIOR, of Colliers International represented the buyer.
• A sale to Kennith C. Hall. The 6,554-square-foot industrial property is in the southwest valley at 6440 Schirlls St. The transaction amount was $2,599,000. Doherty Industrial Group consisting of Dan Doherty, SIOR; Paul Sweetland, SIOR; Chris Lane, SIOR, CCIM and; Jerry Doty, SIOR, of Colliers International represented the seller, Aurum Properties, L.P.
• Sean Zaher of CBRE, Inc. represented the seller and buyer, PDC Reno/LV/PHX/LPIV, LLC in the sale and purchase of 1.94 acres of industrial land at E. Carey Avenue and Betty Lane for $1,429,506.
• A sale to JEMVE Tech LLC. The 6,140-square-foot industrial property is within Stephanie Industrial Park, in the east Las Vegas Industrial Market at 5474 Stephanie St. The transaction amount was $1,197,300. Eric Molfetta, MBA, and Amanda Irving of Colliers International represented both the seller, Two Corners Investments LLC, and the buyer, JEMVE Tech LLC.
COMPLETED LEASE TRANSACTIONS
• Stevens Equipment Supply leased approximately 23,414 square feet of industrial space at 6721 S. Eastern Ave. Sean Zaher, SIOR, of CBRE represented the landlord.
• Altitude Exhibits, LLC leased approximately 10,795 square feet of industrial space in Prologis Cheyenne Distribution Center at 2875 N. Lamb Blvd. Kelsey Higgins and Sean Zaher, SIOR, of CBRE represented the landlord.
• Fuse Technical Group, LLC leased approximately 34,558 square feet of industrial space in Pioneer Business Center at 6340 S. Pioneer Way. Sean Zaher, SIOR, of CBRE represented the landlord.
• Raahj Laboratories, Inc. renewed their lease of approximately 4,830 square feet of industrial space in Silverado Business Park at 4216 N. Pecos Road. Sean Zaher of CBRE represented the landlord.
• Victoria’s Secret Stores, LLC leased approximately 10,826 square feet of industrial space in Arrowhead Commerce Center at 6275 S. Pearl St. Jake Higgins, SIOR, of CBRE represented the tenant.
• Current Connected, LLC leased approximately 10,795 square feet of industrial space in Cheyenne Distribution Center 1 at 2875 N. Lamb Blvd. Sean Zaher of CBRE represented the landlord.
• Priority Appliances renewed its lease of approximately 5,410 square feet of industrial space in Craig Losee Business Park at 4310 Losee Road. Jake Higgins, SIOR, of CBRE represented the landlord.
• West Shore Home, LLC leased approximately 56,816 square feet of industrial space in South 95 Logistics at 610 W. Lake Mead Parkway. Jake Higgins of CBRE represented the landlord
• Redfern Enterprises, Inc. renewed its lease of approximately 8,706 square feet of industrial space in Silverado Business Park located at 4168 N. Pecos Road. Sean Zaher of CBRE represented the landlord.
• A lease to Pure Infusion Suites of Summerlin, LLC for a 91-month term. The 2,659-square-foot office space is located within City Center West at 7201 W. Lake Mead Blvd. Suite 112. The Thill, Dillon & McInerney Office team consisting of Patti Dillon, SIOR; Taber Thill, SIOR; and Megan McInerney of Colliers International represented the lessor, 7201 W Lake Mead LLC.
• A lease Anduril Industries, Inc. for a 24-month term. The 3,146-square-foot industrial space is located along the Cheyenne Technology Corridor within Northport Business Center at 3925 W. Cheyenne Ave., Suite 405 in North Las Vegas. The Telles Industrial Team consisting of Gabe Telles, Chase Pavlov and Ryan Hendershot of Colliers International represented the lessor, MCA IGF Northport, LLC.
• A lease to Preferred Credit, Inc., a Minnesota Corporation. The 7,306-square-foot office property is at 9911 Covington Cross Drive within the Crossing Business Center. Chris Connell, SIOR, and Grant Traub, SIOR, of Colliers International represented the lessee.
• Ninyo & Moore Geotechnical & Environmental Science Consultants renewed its lease of approximately 16,883 square feet of industrial space in Hughes Airport Center at 6700 Paradise Road. Jake Higgins, SIOR, of CBRE represented the landlord.
• Walker & Zanger, Inc. renewed its lease of approximately 15,520 square feet of industrial space at 4701 Cameron St. Sean Zaher of CBRE represented the tenant.
• Associated Materials, LLC renewed its lease of approximately 12,323 square feet of industrial space in Hughes Airport Center at 1151 Grier Drive. Jake Higgins of CBRE represented the landlord.