The Wolff Co., a real estate private equity based in Scottsdale, Ariz., has purchased 32 acres of land at 1525 and 1545 Wigwam Parkway (at Stephanie St. and I-215) in Henderson, for development of multifamily and high-quality senior living communities.
Although financial details were not released, Coldwell Banker Premier Realty is calling the land deal one of the largest of 2015 in Las Vegas. CBPR represented the seller and Jorant Commercial/Sunbelt Development & Realty Partners represented the buyer.
“Henderson is a fantastic community that lacks amenity-rich, lock-and-leave housing for renters aged 55+,” said Mike Milhaupt, vice president of senior housing for The Wolff Co. “This project’s on-site dining options, top-of-the-line activity centers, and highly detailed residences will set a new benchmark for senior living rental communities in Nevada.”
The market-rate multifamily component of The Wolff Company’s development will directly address the area’s shortage of quality for-rent housing, according to Nate Carlson, vice president of development for The Wolff Co. The property is closely located to a number of schools, parks and transit options.
Sales of significance
• FC Development Properties LLC of Park Ridge, Ill., purchased the 50,959 square foot retail center at 4180/4220 S. Grand Canyon Drive and 9701-9827 W. Flamingo Road in Las Vegas from 9827 West Flamingo Road Holdings LLC for $9,650,000. Chris Richardson and Jason Otter of Logic Commercial represented the buyer and Auction.com represented the seller.
• McBeath Holdings LLC Series TT purchased a 16,864 square foot office/industrial property at 7115 Bermuda Road in Las Vegas from Silver State Gateway Ltd. for $2,002,600. Greg Pancirov and Mike DeLew of Colliers International represented the buyer.
• Bal Gosa purchased the 113-unit Boulder Inn and Suites at 704 Nevada Highway in Boulder City from the U.S. Bankruptcy Trustee for $1,510,000. Charles Connors of Colliers International represented the seller. The motel is 55,225 square feet and sits on 2.11 acres.
• RPS Homes purchased the 91-space Boulder City Mobile Home Park at 1501 Nevada Highway in Boulder City for $1.4 million from the U.S. Bankruptcy Trustee. Charles Connors of Colliers International represented the seller. The mobile home park sits on 7.5 acres.
• MTM Investment LLC purchased the 6,559-square-foot office property at 6690 Grand Montecito Parkway in Las Vegas for $1,147,825 from 6630 Grand Montecito LLC. Stacy Scheer, Grant Traub and Chris Connell of Colliers International represented the seller.
Leases of interest
• Squeeze In leased 2,428 square feet of retail space in the Fort Apache Plaza at 5165 S. Fort Apache Road in Las Vegas from Reno Capital Group for $286,176 for 65 months, NNN. Chris Richardson and Jason Otter represented the landlord.
• Pacific Fitness Inc leased 3,200 square feet of retail space for 63 months at 213 N. Stephanie St, Ste H-I, from Roxbury Advisors, LLC for $272,640.00. Nelson Tressler and Michael Zobrist of Newmark Grubb Knight Frank represented the lessor, and Martin M. Toumaian of Keller Williams Realty represented the lessee in the transaction.
• Jin Kuk You leased 1,600 square feet of retail space for 60 months at 237 N. Stephanie St, Suite J, from Roxbury Advisors LLC for $154,800. Nelson Tressler and Michael Zobrist of Newmark Grubb Knight Frank represented the lessor, and Celine Kim of United Realty Group represented the lessee.
• Guns Unlimited LLC leased 1,300 square feet of retail space in St. Rose Eastern Retail at 2980 St. Rose Parkway, Suite 130, from 2960 St. Rose Parkway LLC for $125,000 for 63 months, NNN. Chris Richardson and Jason Otter of Logic Commercial represented the landlord and Deanna Marcello of Logic Commercial represented the tenant.
• JAX Logistics Inc. leased 18,868 square feet of industrial space in the Highland Industrial Center at 3000 Highland Drive, Suite DE in Las Vegas from FKC Highland LLC for an undisclosed amount and duration. Chris Connell and Grant Traub of Colliers International represented the lessor.
• Flip N’ Tag 2 LLC leased 40,745 square feet of retail space for 120 months at 1235 W. Warm Springs Road from Warm Springs Promenade LLC. Total consideration was not disclosed. Nelson Tressler and Michael Zobrist of Newmark Grubb Knight Frank represented the lessor.