Las Vegas moved one step closer to the entrance of its new NHL team, pegged to have players shoving pucks across the ice in the 2017-2018 season. A groundbreaking ceremony was held at the planned practice facility in Downtown Summerlin last week.
The 105,000-square-foot facility will house two rinks and rest across a 4.6-acre parcel just east of Pavilion Center Drive and south of Griffith Peak Drive, inside the development.
The new facility’s price tag came to $24 million, according to a report from real estate news website, Commercial Property Executive. It’s set for completion in August 2017, two months before the start of the team’s inaugural season.
Black Knight Sports &Entertainment LLC, the organization the unnamed team will be housed under, signed a 20-year ground lease on the facility at the end of September with Howard Hughes Corp., leading to the recent groundbreaking.
“Our hockey club is very appreciative of the commitment made by The Howard Hughes Corp. in conjunction with the development of our practice facility,” said Bill Foley, the NHL franchise’s majority owner. “This facility will be a giant step in the development of an expanded youth hockey and adult league program in Clark County.”
Foley, the team’s majority owner, was given the green light on the new franchise on June 22 by NHL’s Board of Governors. The team will be housed at the T-Mobile Arena, behind the New York-New York for live games at home.
Blackstone deal on logistics centers includes Las Vegas
Private-equity firm Blackstone Group LP’s agreement to purchase nearly four dozen West Coast logistics centers included properties in the Las Vegas area, according to a report in CoStar.com.
Blackstone Group agreed to purchase 46 logistics properties for $1.5 billion from Irvine, California-based LBA Realty LLC. The move will give Blackstone 26 million square feet of new space, according to the report on CoStar.com.
Few details on the specific properties LBA have agreed to sell have been released. According to CoStar.com researchers, Blackstone plans to obtain more properties in Los Angeles, Oakland, San Francisco, San Diego and Seattle.
In part of the deal, LBA will sell its warehouse space in Dallas, Denver and Phoenix to Blackstone.
Locally, the company holds just over 126,000 square feet of industrial space at the Northport Business Center in North Las Vegas, at 3825-3985 W. Cheyenne Ave. LBA also holds just over 98,000 square feet of industrial space at the Russell Commerce Center at 5720 and 5740 Arville St., according to LBA’s website.
Nevada Association of Realtors
announces new officers for 2017
The Nevada Association of Realtors announced the incoming officers for 2017 at the end of September.
NVAR’s incoming 2017 president is Greg Martin of Elko. Other 2017 officers are Heidi Kasama of Las Vegas, president-elect; Keith Lynam of Las Vegas, vice president; and Leroy “Buck” Schaeffel of Mesquite, treasurer.
The immediate past president is David R. Tina of Las Vegas’ Urban Nest Realty. Tina was also honored with being named Realtor of the year.
Tina, Lynam and Kasama also have served as past presidents for the Greater Las Vegas Association of Realtors. And Martin was a past president of the Elko County Association of Realtors.
The board members will be installed in December at NVAR’s annual meeting in Las Vegas.
Commercial Alliance announces member of the year
Bobbi Miracle, CCIM, SIOR, senior vice president at Commercial Executives Real Estate Executives in Las Vegas, was named the Commercial Alliance Las Vegas member of the year for 2016 at the end of September.
“Bobbi has shown outstanding leadership, dedication and service to CALV,” said 2016 CALV President Soozi Jones Walker, CCIM and SIOR.
The award was especially gratifying Walker since Miracle is her daughter and her business partner at Commercial Executives, she said.
Miracle received her award during the 11th annual CALV Symposium for commercial real estate professionals at the Gold Coast on Sept. 28.