Towbin Motorcars of Las Vegas has bought the Penske Wynn Ferrari/Maserati dealership and has moved it to the Towbin Motorcars flagship dealership at 5550 W. Sahara Ave.
Ferrari and Maserati brands will incorporate with Towbin’s existing high-profile luxury lines of Rolls-Royce, Aston Martin and Bentley. Through the acquisition, 15 Penske-Wynn Dealership personnel were brought on board by Towbin Motorcars, which has increased its staff to 44.
“We are excited to now provide our customers with five of the world’s most sought-after, high-end luxury automotive brands under one roof,” Chairman Carolynn Towbin said in a statement. “This acquisition is important for our dealership because it defines Towbin Motorcars as the most exclusive car dealership in Las Vegas.”
The Penske Wynn Ferrari/Maserati dealership operated at Wynn Las Vegas for the past 10 years and offered visitors an up-close look at the many luxury vehicles.
“We have been in the superluxury business more than 17 years and adding Ferrari and Maserati is a dream come true for us,” co-owner Jesika Towbin-Mansour said in a statement. “We are always striving to provide the very best customer service and excellence in the luxury exotic car space, and by providing these additional exquisite brands, we now have the ultimate choice for our customers coupled with the unparalleled service standards of Towbin Motorcars.”
Engelstad Foundation gives $10 million to education group
The Fulfillment Fund Las Vegas, a college access organization that provides students with the support necessary to graduate from high school and go on to college, received a $10 million donation from the Engelstad Family Foundation designed to help defray the costs of pursuing higher education or trade school in Nevada.
The donation was announced on Oct. 27 at a pep rally at Chaparral High School, one of three high schools being served by the Fulfillment Fund Las Vegas. Del Sol Academy of the Performing Arts and Andre Agassi College Preparatory Academy are the other two.
“This extraordinary donation will pave the way for high school graduates to further their education at Nevada colleges, universities and trade schools,” Lindy Schumacher, CEO of Fulfillment Fund Las Vegas, said in a statement. “For most of those students, post-high school education wasn’t even a consideration. Today, thanks to the Engelstad’s support of the Fulfillment Fund, it is a reality.”
Through its partnerships at high schools, the Fulfillment Fund provides students with both individual advisement and class instruction. The Engelstad Family Foundation will provide financial resources to students who meet the qualifying criteria and graduate in 2015, 2016, 2017 and 2018.
“For students at our three high schools, the hurdles to reaching higher education are many,” Schumacher said. “The generosity of Kris McGarry and the Engelstad Family Foundation has helped us clear the hurdle of financial viability for deserving students and we are beyond grateful.”
NAIOP honors Majestic Realty, Harsch Investment official
NAIOP Southern Nevada presented Majestic Realty Co. with the 2015 Developer of the Year award and Mandi Thorn, assistant vice president — construction and maintenance — of Harsch Investment Properties with the 2015 Developing Leaders Award.
The national commercial real estate development association presented both awards at its Commercial Real Estate Conference in Toronto on Oct. 14.
Majestic Realty Co. was selected from a group of nominees and evaluated by a team of seasoned developers on strict criteria. Since 1979, the award has been presented to a development company that best exemplifies leadership and innovation.
“We are so proud to have a member of NAIOP Southern Nevada chosen for the national association’s highest award. Majestic Realty absolutely deserves this honor,” Katrina Bruce, executive director of NAIOP Southern Nevada, said in a statement.
Majestic Realty Co. is headquartered in Los Angeles and has regional offices throughout the United States, including Las Vegas. This year the company has completed nine buildings, adding more than 6 million square feet and increasing its ownership portfolio to 78 million square feet.
Thorn has more than 14 years of experience in commercial, industrial and retail development and construction. As assistant vice president for Harsch Investment Properties, she oversees the development and construction of Harsch’s 8 million-square-foot portfolio in the Las Vegas region.
“We are proud to recognize Mandi Thorn for her exceptional achievements and leadership in NAIOP, her community and the industry,” Thomas J. Bisacquino, president and CEO of NAIOP, said in a statement. “Her drive and innovative approach to emerging trends and economic opportunities will position the industry for success both now and in the future.”
Established in 2006, the Developing Leaders Award has been given to rising industry professionals from across NAIOP’s chapter network in all sectors of commercial real estate. Recipients are professionals under the age of 35 who have distinguished themselves among their colleagues and show great promise as future industry leaders.
NAIOP Southern Nevada is a chapter of NAIOP, the Commercial Real Estate Development Association, and it has more than 380 members serving the Southern Nevada market.
For more information on NAIOP corporate, visit www.naiop.org.