RCG Economics Las Vegas - Real Estate Trends - Market Research Analysis

Gerke’s RV Storage Sells for $2.5 Million

John Restrepo — Thu, 17 May 2012 15:10:01 +0000

Kiland Investments 33 LLC bought the 24-year-old, 64,000-square-foot Gerke’s RV storage and industrial complex, on 3.32 acres, at 4770 W. Nevso Drive in Las Vegas for $2.5 million, or $39 per square foot, from Jerry and Suzanne Brunner. TMC Financing’s … Continue reading →

Eastern Beltway Center Adds New Store

John Restrepo — Thu, 17 May 2012 15:08:59 +0000

German Bread Bakery signed a 5-year lease for 1,020 square feet of retail space inside Territory’s 14-year-old Eastern Beltway Center at 9255 S. Eastern Ave., Suites 310-312, in Las Vegas. Territory’s Jennifer Ott represented the lessor; Majestic Properties’ Andreas Adrian represented the lessee. It marks the second location for the Las Vegas bakery, specializing in original recipe German breads and rolls.

Thomas & Mack Signs 4-Year Office Lease

John Restrepo — Wed, 16 May 2012 15:07:14 +0000

ResortCom International signed a 4-year lease for 23,178 square feet of office space inside Thomas & Mack’s McCarran Center at 6850 Bermuda Road in Las Vegas. Colliers International’s Tom Stilley, Lizz Stilley, Ryan Martin and Patti Dillon represented the leasee; Thomas & Mack’s Nicola Fryatt represented the lessor, McCarran Center LLC.

Fortessa Extends Blue Diamond Center Lease

John Restrepo — Wed, 16 May 2012 15:05:59 +0000

Fortessa signed a 45-month lease extension for 25,000 square feet of industrial space inside Juliet Cos.’ 7-year-old Blue Diamond Business Center at 4120 W. Windmill Lane, Suite 104, in Las Vegas. Colliers International’s Tom Stilley, Lizz Stilley, Ryan Martin and Patti Dillon represented the leasee; CB Richard Ellis’ Shalonda Hughes and Karolina Janik represented the lessor.

Coast Dental Joins Cheyenne Commons

John Restrepo — Tue, 15 May 2012 15:47:02 +0000

Coast Dental Services signed a 5-year, $420,000 lease for 2,400 square feet of retail space inside Cheyenne Commons at 3169 N. Rainbow Blvd. in Las Vegas. Colliers International’s Scot Marker represented the lessor, Kimco Realty Corp. The reported average rent equals $2.92 per square foot triple net.

Koll Business Center Adds 3Wire Group

John Restrepo — Tue, 15 May 2012 15:45:48 +0000

3Wire Group signed a 3-year, $115,488 lease for 5,929 square feet of industrial space inside the 12-year-old Koll Business Center, on 40 acres, at 6125 S. Valley View Blvd., Suite C, in Las Vegas. Cactus Commercial Real Estate’s Wayne Yeoman represented the leasee; Colliers International’s Spencer Pinter represented the lessor, Valley View I, II & III, LLC. The reported average rent equals 54 cents per square foot triple net.

Holsum Design Center Signs $109,189 Lease

John Restrepo — Tue, 15 May 2012 15:44:41 +0000

Encompass Studio signed a 3-year, $109,189 lease for 2,306 square feet of office space inside the Holsum Design Center at 241 W. Charleston Blvd., Suite 155, in Las Vegas. NAI Las Vegas’ Dave Johnson represented the leasee; Colliers International’s Rebecca Wachter represented the lessor, LaPour Grand Central LLC. The reported average rent equals $1.32 per square foot triple net.

Energy Savers Consulting Extends Lease

John Restrepo — Tue, 15 May 2012 15:43:21 +0000

Energy Savers Consulting and Auditing signed a 1-year, $13,824 lease for 3,200 square feet of industrial space inside the 8-year-old Topaz Industrial Center, on 1.03 acres, at 6012 Topaz St., Suite 7, in Las Vegas. Colliers International’s Rebecca Wachter represented the leasee; Lee & Associates’ David Evenhouse represented the lessor, Interpacific Management Group. The reported average rent equals 36 cents per square foot triple net.

Colliers: Multi-family Buyers Become Pickier

John Restrepo — Mon, 14 May 2012 15:20:13 +0000

Multi-family sales have been slow so far in 2012, with only 337 units being sold and another 2,195 units in nine projects still pending, reports Colliers International Las Vegas. “The pace of investment sales has slowed down, suggesting that investors are becoming pickier,” said Colliers researcher John Stater. “Sellers are becoming more reluctant to lower their asking prices as folks are taking a wait-and-see attitude due to the coming November elections.” Multi-family investors are increasingly concerned with a desirable yield, which is becoming scarce in the top tier markets. For the full report, CLICK HERE.

Restaurants, Budget Stores Aid Retail Market

John Restrepo — Mon, 14 May 2012 15:18:24 +0000

Completion of two new Winco grocery stores aided Southern Nevada’s retail market the first three months of 2012, reports Colliers International Las Vegas. The valley has seen three straight quarters of positive retail absorption aided, in part, by restaurants, says Colliers researcher John Stater. Genghis Grill, Chronic Tacos and Don TorTaco have all planned expansions. Cost conscious retailers, meanwhile, are showing impressive revenue gains, too, including Winco, Savers, Dollar General and Wal-Mart Groceries. For the full report, CLICK HERE.