Former three-term North Las Vegas Mayor Mike Montandon has joined DC Building Group, a Las Vegas-based privately-held general contractor, as vice president of business development and government affairs. He most recently served as managing partner at Insight Investment Partners, and managing director for Voit Real Estate Services. Montandon currently serves as 2014 president of the NAIOP Southern Nevada chapter.
Southern Nevada has $3.4 billion in hospitality projects scheduled through 2016, reports the Las Vegas Convention and Visitors Authority. The construction projects will add 3,821 guest rooms and 500,000 square feet to the city’s existing inventory. Las Vegas, as a result, will boast 156,369 guest rooms by the end of 2016. For more information, CLICK…Read More→
Nevada construction employment added 5,900 jobs for a 10.5% growth during the last 12 months, reports the Associated General Contractors of America. The state has 62,100 construction jobs in June. For more information, CLICK HERE.
Mighty River Fellowship signs a 26-month $28,800 lease for 1,200 square feet of retail space inside Stewart Square at 235 N. Eastern Avenue, Suite 112, in Las Vegas. Virtus Commercial’s Matt Feustel represented the lessee and lessor, Partch-Lebovitz Family Trust LLC. The reported average rent equals 92 cents per square foot.
Meadows Mobile Park LLC bought the 68-year-old 60-space Meadows Mobile Home Park, on 2.4 acres, at 1286 S. Mojave Road in Las Vegas for $525,000, or $218,750-per-acre, from Bayview Loan Servicing LLC. Commercial Executives’ Salina Ramirez represented the seller.
Henderson Renal Construction LLC bought a 17,350 square feet of office space inside the 6-year-old 2-story Highland Plaza at 1661 Horizon Ridge Parkway, Suites 100, 101, 140, 160, 181, and 191, in Henderson for $2,086,200, or $120-per-square-foot, from Sunstone Horizon LLC. Colliers International’s Jason Lesley and Bridget Richards represented the seller; Aeon Real Estate’s Andrew…Read More→
Party City signed an 86-month $1,181,565 lease renewal for 10,500 square feet of retail space inside the 17-year-old Rainbow Promenade, on 21.96 acres, at 2051 N. Rainbow Blvd., Suite 4-A, in Las Vegas. Avison Young’s Jackie Young and Liz Clare represented the lessor, CW Capital. The reported average rent equals $1.31 per square foot.
Kitchell recently topped-off a $160-million, five-story tower addition at the Dignity Health-St. Rose Dominican, Siena Campus, at 3001 St Rose Parkway Trail in Henderson. The 220,000-square-foot, 100-bed tower gives the hospital 326 private rooms upon completion in 2016. The project marks part of Kitchell’s ongoing campus expansion, which has also included an expansion of the…Read More→
Jeana Ventures LV Inc. acquired an $820,000 loan for refinancing the 16-year-old 13,647-square-foot SunWest Cimarron Center, on 0.95 acres, at 2595 Cimarron Road in Las Vegas. CommCap Advisors’ Kyle Nagy sourced the 4.25%, 3-year fixed-rate loan, which has a 25-year amortization. The property was purchased for $1.475 million, or $108-per-square-foot, from Cimarron Properties Ltd. in…Read More→
Ramsey Real Estate Group recently completed a $600,000 makeover of the 36-year-old Decatur Inn Plaza, on 0.84 acres, at 3300 S. Decatur Boulevard in Las Vegas. Kittrell Jensen Contractors was the general contractor, with Nadal Studio One as architect. The 12,000-square-foot retail complex is currently 50% leased by Taqueria El Pasiano, Industry Cuts and Dr….Read More→