Logic Commercial Real Estate, utilizing RealInsights Marketplace, has announced that it has closed the sale of Cheyenne Commons, a Walmart, Floor Décor and Ross anchored retail center. The 361,000-square-foot facility sold for $34.35 million. Logic Commercial Real Estate’s Brendan Keating , Adam Malan and Deana Marcello marketed the property on behalf of the seller, a special servicer. The asset was purchased by Pebb Enterprises Inc., a private family office based in South Florida. The property has recently received a $2.7-million renovation that included a new roof, exterior paint, awning repairs, updated lighting, parking lot repairs, landscaping repairs and updated pylon signs. Cheyenne Commons is 80 percent occupied, providing an attractive value-add opportunity for the buyer with over 70,000 square feet of available space for lease.
Mark Lucescu , president of Lucescu Realty, an investment real estate services firm, announced the sale of Shadow Mountain Marketplace for $67.25 million. Lucescu Realty represented the interests of the seller, Wynmark Co., and procured the buyer, a private investor. The seller developed the property in 2007 and had owned and managed it since completion.
Colliers International’s Mike Mixer , SIOR, and executive managing director for the Las Vegas office represented the sale of 60 acres near the Las Vegas Strip. The land and apartment parcel is on the corner of Harmon Avenue and Koval Lane in the heart of the resort corridor.
Colliers International – Las Vegas has announced the successful leasing of Juliet’s 322,560-square-foot distribution facility at Blue Diamond Business Center in the southwest submarket.
Tower 16 Capital Partners, in a joint venture with Henley USA, has acquired Evergreen Apartments, a 314-unit, multifamily project two miles west of the Las Vegas Strip, for $29.5 million. Tower 16 will oversee $4 million in renovations and upgrades to the project.
Sunroad Enterprises, a San Diego-based real estate investment and development firm, acquired the 234-unit Adobe Ranch Apartments located in Henderson for an undisclosed price. The firm has already begun significant interior and exterior property renovations and part of repositioning and rebranding the property as Cyan.
Devin Lee , CCIM; Robin Willett , Jerad Roberts ; and Jason Dittenber , of Northcap Commercial Multifamily, has announced the recent sales of Casa Bonita Apartments and Valley Vista Apartments for $7,150,000 ($99,305/unit).
Sun Commercial Real Estate Inc. has announced the sale of a mixed-use retail building for $6 million. The deal closed Oct. 12. The 31,000-square-foot property is at 1205 Las Vegas Boulevard South. Cathy Jones , Anders Graciano , Paul Miachika , Roy Fritz , Jessica Cegavske and Taylor Vasquez of Sun Commercial Real Estate Inc. represented the seller, DeCar Enterprises LLC.
TVP Assets has sold a 156,564-square foot, 100-percent-leased, core multitenant industrial building in the Suncrest Commerce Center of Henderson for $20,200,000.
California-based Westland Real Estate Group has purchased two Las Vegas apartment communities for $60.3 million. The complexes are Liberty Village Apartments at 4870 Nellisoasis Lane and Village Square at 5025 Nellisoasis Lane. Between the two there are 1,129 units.