Escape Adventures is building a $2.55 million, 7,958 square foot retail building, on 1 acre, along Discovery Drive, just east of Town Center Drive in Las Vegas. TMC Financing’s Ann Santiago provided the 4.29%, 20-year SBA 504 loan. TWC Construction is the contractor. The building will house a travel office, plus a 1,835-square-bicycle store.
Robert Grandin bought a 6-year-old, 5,958-square-foot industrial building, on 0.27 acres, inside Collins Business Park II at 4306 E. Alexander Road in Las Vegas for $286,500, or $48-per-square-foot, from the Bank of George. Commercial Executives’ Soozi Jones Walker and Bobbi Miracle represented the seller.
Lisa M. Brady has been named managing director of Faris Lee Investments’ Las Vegas office. She most recently served as senior vice president at Sun Commercial Real Estate. Brady has also served as managing director of the investment sales and leasing division for Gatski Commercial.
Faris Lee Investments named Katie Brase as director. She most recently served as an investment sales and distressed assets associate for Sun Commercial Real Estate. Brase is a Certified Commercial Investment Member (CCIM) and a NAIOP Developing Leader.
Los Posados Plaza LP bought the 30-year-old, 26,192-square-foot Los Posados Shopping Center, on 2.04 acres, at 802 Buchanan Blvd. in Boulder City for $2,277,250, or $87 per square foot, from GMACCM Note #802 LLC Trust. Anchored by a Vons grocery story, the center was 79% occupied at the time of sale. Marcus & Millichap’s Chris Cunning represented the…Read More→
ViaWest, one of the nation’s largest private data centers, recently signed a 10-year lease to occupy a 5-year-old, 112,240-square-foot standalone building, on 6.39, inside the Golden Triangle Industrial Park at 3330 E. Lone Mountain Road in North Las Vegas. The space was formerly occupied by APG International. CB Richard Ellis’ Donna Alderson and Greg Tassi represented the landlord, Operating…Read More→
Nonresidential construction rose 1.7 index points in the second quarter, reaching it highest confidence rating since 2007, reports FMI, a Raleigh, N.C.-based industry consultancy firm. Although backlogs remain about the same at a median of eight months, all markets, with the exception of education construction, are expected to improve slightly over the next quarter. Productivity has also shown improvement, though…Read More→
Amid a backdrop of moderate-but-positive economic growth, demand for commercial space is rising and availability is declining across all property types, reports the National Association of Realtors. A main driver of the rebound comes from low levels of new construction in recent years, preventing a run-up in supply as well as rising office using employment, increased international trade, and a…Read More→
Clark County’s economy showed uneven signs of growth in April, reports Cushman & Wakefield-Commerce Real Estate Solutions. Compared to a year earlier, visitor volume was up by 3.1% in March but gaming revenue dropped 12.2%. Both commercial and residential construction permits rose from February to March, yet employment only rose a scant 0.8% or 6,300 jobs. For the full…Read More→
Tuesday Morning Inc. signed a 5-year lease for 13,000 square feet of retail space inside Warm Springs Marketplace at 7211 S. Eastern Ave., Suite 120, in Las Vegas. Colliers International’s David Grant represented the lessor, L.D. Warm Spring LLC; Studley’s Jon Radus represented the tenant.