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Sale of Fort Apache Commons hints cap rates slipping

The 53,689 square-foot Fort Apache Commons in Las Vegas has been sold in a private deal between investors. The complex, constructed in 2005, is a mixed-use retail and office project. It was 100 percent leased at the time of the sale. The retail market in Las Vegas has slowly moved back to healthier levels in recent years. The overall retail market for Las Vegas sits at a vacancy rate of 10.1 percent, which is the lowest rate since 2008. Fred Miller and Sheila Colfer of Dickinson Commercial Group represented the buyer. “Capitalization rates are trending downward as competition heats up for these types of investments,” Colfer said. No financial details were disclosed.

Sales of significance

 

• R Dog House LLC purchased 5,390 square feet of industrial space, which also includes a 9,900 square-foot secured yard, at 2572 Abels Lane in Las Vegas. The transaction value was $415,000. Jason Lesley and Josh Smith of Colliers International represented the seller, Claremont Hotel Inc., and Bridget Richards of Colliers International represented the buyer.

 

• A 3.65-acre parcel of land at of Blue Diamond Road and Decatur Boulevard in Las Vegas has been sold for $4 million. The buyer was 318 Blue Diamond Place LLC and the seller was Blue Diamond Place LLC. NAI Vegas represented the seller.

 

• Coastline RE Holdings NV Corp. purchased a 6,089-square-foot office building at 5175 Camino Al Norte, Las Vegas, for $350,000. NAI Vegas represented the seller, Nevada New Builds, LLC.

 

• Consulting Advisors of Nevada, LLC has purchased a 5,540-square-foot office building at 1380 E. Sahara Avenue / 2408 Pardee Place in Las Vegas for $650,000. Matt Feustel of Virtus Commercial represented the seller, Rusty Croissant, LLC. Amy Kyzykyan of Realty One Group represented the buyer.

 

 

 

Leases of interest

• Catholic Charities of Southern Nevada leased 2,374 square feet of retail space in Golden Horizon Center at 270 East Horizon Dr., Ste 108 and 109, in Henderson. Phillip Dunning of Colliers International represented the lessor, Golden Horizon Center LLC.

• Xander Enterprises Inc., dba Loguay, S.A. and Xander Co., leased 2,401 square feet of retail space for 36 months at 4750 W. Sahara Ave, Suites 11 & 12, from Sahara 3D, LLC. Total consideration was $94,000.15. Nelson Tressler and Michael Zobrist of Newmark Grubb Knight Frank represented the lessor; Stacy DiBie of Gatski Commercial represented the lessee.

• Meliza B. Reyes leased 3,120 square feet of industrial space in Valley View Business Center at 6625 S. Valley View Blvd, Ste 220 and 222, in Las Vegas. Eric Molfetta and Chris Zunis of Colliers International represented the lessee.

 

• Reliaquest LLC leased 2,604 square feet of office space at 5502 S. Fort Apache Rd., Ste 200, in Las Vegas. Jason Lesley and Bridget Richards of Colliers International represented the lessee.

 

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