Marcus & Millichap orchestrated the $1.15 million sale of a restaurant property leased to Popeye’s Chicken & Biscuits at 4505 E. Bonanza Road. Dustin R. Alvino marketed the property for an unnamed investor and former Popeye’s franchisee.
“The seller recognized the substantial compression in capitalization rates and decided now was the perfect time to capitalize on the current environment,” Alvino said.
The property is 1,987 square feet on an absolute net lease. Alvino said annual bumps will increase the yield from 5.42 percent to 9.06 percent over the life of the lease and its options, without debt leverage.
The buyer was not identified.
Retail sold for $2.25 M
Ben Millis and Chris Beets of Newmark Grubb Knight Frank represented DCR Real Estate VI Sub I LLC in its $2.25 million sale of 17,606 square feet of retail space at 821 Lamb Blvd. Carlington Miller of Realty One advised the buyer, Orexco 1031 Exchange.
Leases of interest
• Southern Enterprises leased 148,635 square feet of industrial space in the Logisticenter Cheyenne at 4025 E. Cheyenne Ave. in Las Vegas. Dan Doherty, Susan Borst, Chris Lane and Jerry Doty of Colliers International represented the lessor, DPSUIF Cheyenne LLC.
• Trigg Laboratories Inc. leased 69,929 square feet of industrial space in the Blue Diamond Business Center at 4220 W. Windmill Lane in Las Vegas. Dean Willmore of Colliers International represented the lessor, Blue Valley III LLC. Dan Doherty, Susan Borst, Chris Lane and Jerry Doty of Colliers International represented the lessee.
• Jose L. Gonzalez, dba AVON, leased 1,353 square feet of retail space at 4750 W. Sahara Ave, Suite 3, from Sahara 3D, LLC. Total consideration for the 60-month deal was $93,157. Nelson Tressler and Michael Zobrist of Newmark Grubb Knight Frank represented the lessor in the transaction.
• Dance Addiction LLC, dba Dance Addiction, leased 1,860 square feet of retail space for 36 months at 771 E. Horizon Drive, Suite 122-124, from Cornet Plaza, LLC. Total consideration for the 36-month deal was $86,376. Nelson Tressler and Michael Zobrist of Newmark Grubb Knight Frank represented the lessor in the transaction. Eric Humes of Rooftop Realty represented the lessee.
• Steelhead Productions Inc. leased 51,179 square feet of industrial space in the Blue Diamond Business Center at 4220 W. Windmill Lane in Las Vegas. Dean Willmore, Dan Doherty, Susan Borst, Chris Lane and Jerry Doty of Colliers International represented the lessor, Blue Valley III LLC. Spencer Pinter of Colliers International represented the lessee.
• Pro West Logistics LLC leased 21,120 square feet of industrial space in the Sunrise Industrial Park at 4601 Cheyenne Ave. in Las Vegas. Dan Doherty, Susan Borst, Chris Lane and Jerry Doty of Colliers International represented the lessor, PAC Worldwide Corp.
• Boyett Enterprises LLC has leased 6,121 square feet of industrial space in Warm Springs Crossing III at 7540 Dean Martin Drive, Suite 505, in Las Vegas. Greg Pancirov and Mike DeLew of Colliers International represented the lessor, the Shutter Store Inc.
• Aby Chemical LLC leased 5,960 square feet of industrial space in the Nellis Industrial Park at 4440 Mitchell St. in North Las Vegas. Dan Doherty, Susan Borst, Chris Lane and Jerry Doty of Colliers International represented the lessor, Icon Pac Nevada Owner Pool 3 Nevada.
• Urgent Care Extra leased 5,000 square feet of retail space in Eldorado Village at 5570 Camino Al Norte, Suite 1, in North Las Vegas. David Grant of Colliers International represented the lessor, Donahue Schriber Realty Group LP.
• H&R Block leased 2,089 square feet of retail space in Pebble Marketplace at 1000 N. Green Valley Parkway, Suite 200, in Henderson. David Grant of Colliers International represented the lessor, Donahue Schriber Realty Group.
• Access Las Vegas LLC leased 1,638 square feet of office space in the Flamingo Grand Plaza at 1050 E. Flamingo Road, Suite W-253, in Las Vegas. Chris Connell and Grant Traub of Colliers International represented the lessor, FKC Flamingo LLC.
• Polar Shades Inc. leased 7,296 square feet of industrial space located in the Sandhill Airport Park at 6340 Sandhill Road in Las Vegas. Dan Doherty, Susan Borst, Chris Lane and Jerry Doty of Colliers International represented the lessor, TheoPacific Las Vegas I LLC.
• Anderson & Ferrell LLP/R.A. Anderson leased 1,871 square feet of office space in The Hughes Center at 3993 Howard Hughes Parkway, Suite 470, in Las Vegas. Renae E. Russo of Colliers International represented the lessor, Gentry Wealth Management.
