Market Research Analysis - Las Vegas

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Paradise Airport Center Signs $272,737 Lease

Epic World Wide LLC signed a 39-month $272,737 lease for 20,289 square feet of industrial space inside Paradise Airport Center at 1045 Palms Airport Drive, Suite 120, in Las Vegas. Colliers International’s Dan Doherty, Chris Lane and Jerry Doty represented the lessee; Newmark Grubb Night Frank’s David Scherer represented the lessor, Harsch Investment Properties Nevada LLC. The reported average rent equals 34 cents per square foot triple net.

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V Internet Corp Signs 3-Year Office Lease

V Internet Corp LLC signed a 39-month $103,138 lease for 2,400 square feet of office space inside the 17-year-old Bermuda Springs Office Park, on 3.02 acres, at 340 E. Warm Springs Road, Suites 3A and 4A, in Las Vegas. Realty One Group’s Charles Martin represented the lessee; Colliers International’s Chris Connell represented the lessor, Warm Springs Limited Partnership. The reported average rent equals $1.10 per square foot.

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Speedway Parcel Sold for $1.4 Million

ABC Manufacturing Properties LLC bought a 15.7-acre property inside Speedway Commerce Center in Las Vegas for $1,367,784, or $87,120 per acre, from Centennial West LLC. Colliers International’s Spencer Pinter represented the buyer; Voit Real Estate Services Jennifer Levine represented the seller.

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Rita’s Ice Joins Rainbow Square

Rita’s Ice signed a 5-year $110,315 lease for 1,200 square feet of retail space inside the 12-year-old Rainbow Square, on 2.68 acres, at 5415 S. Rainbow Boulevard, Suite D-1, in Las Vegas. Newmark Grubb Knight Frank’s Nelson Tressler and Michael Zobrist represented the lessor, Levian Flamrain Las Vegas LLC & Ravan Flamrain Las Vegas LLC; Voit Real Estate Services’ Robin Civish represented the lessee. The reported average rent equals $1.53 per square foot.

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Petersen Industrial Center Signs 2-Year Lease

Pineapple Moon signed a 26-month $35,999 lease for 4,594 square feet of industrial space inside Petersen Industrial Center at 4535 Statz St., Suite A, in North Las Vegas. Colliers International’s Phillip Dunning represented the lessee; Colliers International’s Mike DeLew and Greg Pancirov represented the lessor, DM Real Estate Holdings LLC. The reported average rent equals 30 cents per square foot triple net.

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Medical Office Building Sold for $1.5 Million

Fran Glo Investments LLC bought a 21-year-old 8,865-square-foot medical office building, on 1-acre, at 1950 E. Desert Inn Road in Las Vegas for $1.5 million, or $169-per-square-foot, from William P. Floyd, trustee. Sun Commercial Real Estate’s Cathy Jones, Paul Miachika, Jessica Beall, and Roy Fritz represented the seller.

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Fidelity National Title Signs 5-Year Office Lease

Fidelity National Title Agency of Nevada signed a 65-month $465,587 lease for 4,990 square feet of office space inside Red Rock Business Center, on 4.63 acres, at 6180 Brent Thurman Way, Suite 101, in Las Vegas. Sun Commercial Real Estate’s Cathy Jones, Mikel McCullough, Paul Miachika, Jessica Beall, and Roy Fritz represented the lessor, Red Rock Capital LLC. The reported average rent equals $1.44 per square foot.

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Mr. DZ Fish House Joins The Promenade

Mr. DZ Fish House signed a 3-year, $64,380 lease for 1,349 square feet of retail space inside the 35-year-old Promenade, on 2 acres, at 4440 S. Maryland Parkway, Suite 113, in Las Vegas. Newmark Grubb Knight Frank’s David Lipp and Chris Godino represented the lessor, Campus Village LLC. The reported average rent equals $1.33 per square foot.

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Rainbow Apparel Signs 5-Year NLV Lease

Rainbow Apparel signed a 5-year, $455,000 lease for 6,500 square feet of retail space at 1925 W. Craig Road, Suite 3, in North Las Vegas. Newmark Grubb Knight Frank’s David Lipp and Chris Godino represented the lessee; Voit Real Estate Services’ Kit Graski represented the lessor, Watt Companies. The reported average rent equals $1.17 per square foot.

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DRG Holdings Signs $1.7 Million Lease

DRG Holdings LLC signed a 126-month $1,756,331 lease for a 17-year-old, 7,424-square-foot industrial building, on 0.40 acres, inside the Arville Industrial Complex at 4420 W. Diablo Drive in Las Vegas. Newmark Grubb Knight Frank’s Ben Millis represented the lessor, Holcomb Family Credit Shelter Trust; Virtus Commercial’s Robert Hatrak represented the lessee. The reported average rent equals $1.88 per square foot.

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