The Las Vegas apartment market saw a slight decrease in asking rents and vacancy rates during the fourth quarter, reports UNLV’s Lied Institute for Real Estate Studies. Asking rents dipped by less than 1% this quarter to $796. However, asking rents are still up 5% over last year. Meanwhile, valley vacancy rates decreased by 1.1%…Read More→
Clear Solutions Group LLC signed a 38-month $69,240 lease for 2,660 square feet of industrial space inside the 14-year-old Seven Series @ Hughes Airport Center at 746 Pilot Road in Las Vegas. Cushman and Wakefield-Commerce’s Leo Biederman represented the lessor, Signature Leasing Group LLC; Keller Williams Realty’s Mark Gore represented the lessee. The reported average…Read More→
Wright Finlay & Zak LLP signed a 3-year $327,177 lease for 7,109 square feet of office space inside the 8-year-old Sahara Buffalo Professional Center, on 1.39 acres, at 7785 W. Sahara Ave. in Las Vegas. Cushman & Wakefield Commerce’s Dan Palmeri and Bob Hawkins represented the lessee; Commercial Executives’ Soozi Jones Walker and Bobbi Miracle…Read More→
Lifetime Health Concepts LLC signed a 62-month $181,435 lease for 1,699 square feet of office space inside Pace Plaza, on 4.51 acres, 7885 W. Sunset Suite 180, in Las Vegas. Commercial Executives’ Soozi Jones Walker and Bobbi Miracle represented the lessor, Allen-Milan LLC. The reported average rent equals $1.72 per square foot.
Black Mountain Wealth Management signed a 5-year $84,252 lease for 1,170 square feet of office space inside Pace Plaza, on 4.51 acres, at 7885 W. Sunset Road, Suite 150, in Las Vegas. Commercial Executives’ Soozi Jones Walker and Bobbi Miracle represented the lessor, Allen-Milan LLC. The reported average rent equals $1.20 per square foot.
Panattoni Development Company bought the 29-year-old 103,120-square-foot Nevada Tower Distribution Center, on 5.37 acres, at 1841 Craig Road in North Las Vegas for $5.25 million, or $51-per-square-foot, from Tower Distribution Center LLC. Colliers International’s Greg Pancirov and Mike DeLew represented the buyer; Albright Callister & Associates’ Doug Albright and Bryan Houser represented the seller.
Level Development signed a 1-year $8,050 lease for 559 square feet of retail space inside Montelago Village at Lake Las Vegas at 15 Via Brianza, Suite 100, in Henderson. Virtus Commercial’s Rob Hatrak represented the lessee and lessor, Signal Butte Investors LLC. The reported average rent equals $1,20 per square foot.
Black Bear Oil Corp,n signed a 3-year $106,385 lease renewal for 2,189 square feet of office space inside Buffalo Professional Center at 1333 N. Buffalo Drive, Suite 140, in Las Vegas. Virtus Commercial’s Chris Emanuel represented the lessee and lessor, Miller Trust and Chris Hougie. The reported average rent equals $1.35 per square foot.
The Korte Company named Sallie Doebler as business development director for Southern Nevada. She previously served as director of business development for Jaynes Corporation as well as president of Business Source Nevada. Doebler is a 2015 board member of the Southern Nevada chapter of NAIOP, and served as association president in 2011.
Southern Nevada’s medical office market only posted negative 98,115 square feet of net absorption in 2014, resulting in 18.3% vacancy rate or a 1.4 percentage point increase over the fourth quarter of 2013, said Colliers International Las Vegas research manager John Stater. No new medical office product is either planned or under construction. Yet, asking…Read More→