REBusinessOnline

JLL Arranges $18.3M Sale of 66,780 SF Office Building in Las Vegas

LAS VEGAS — JLL has negotiated the sale of an office building situated on 4.5 acres at 1551 Hillshire Drive in Las Vegas. A private capital investor acquired the property from Las Vegas-based Moonwater Capital for $18.3 million. Shift4, a payment processing and technology company, occupies the single-tenant, 66,780-square-foot property on a triple-net lease basis. Completed in 1993, the office building recently underwent a complete renovation between 2018 and 2019. The property serves as a …

MG Properties Buys 240-Unit Marina Village Apartments in Sparks, Nevada

SPARKS, NEV. — San Diego-based MG Properties Group has acquired Marina Village Apartments in Sparks. San Diego-based Sunroad Multifamily sold the apartment community for an undisclosed price. Fannie Mae provided acquisition financing, which Brian Eisendrath and Cameron Chalfant of CBRE arranged. Built in 2005, Marina Village features 240 apartments and proximity to Interstate 80 with convenient access to the Tahoe-Reno Industrial Park. Additionally, the property is located adjacent to The …

MCA Realty Repositions, Sells Walnut Business Park in Las Vegas for $7.8M

LAS VEGAS — MCA Realty has completed the disposition of Walnut Business Park, a two-building, multi-tenant industrial park in Las Vegas. CapRock Partners acquired the asset for $7.8 million. Located at 3020-3060 N. Walnut Road, Walnut Business Park features 94,808 square feet of industrial space spread across two buildings. MCA Realty originally purchased the asset in 2016 for $5.1 million and implemented a repositioning plan that allowed the company to stabilize and sell the property for …

Marcus & Millichap Brokers $1.6M Sale of Medical Office Building in Las Vegas

LAS VEGAS — Marcus & Millichap has arranged the sale of a medical office property located at 8678 Spring Mountain Road. A limited liability company sold the property to an undisclosed buyer for $1.6 million. Southwest Neck & Back Clinic occupies the 9,672-square-foot building. Ray Germain and Austin Lee of Marcus & Millichap’s Las Vegas office represented the seller in the

Compass Acquisition Partners Buys 488-Unit Sandpiper Apartments in Las Vegas for $66M

LAS VEGAS — Los Angeles-based Compass Acquisition Partners, a private real estate investment company, has purchased Sandpiper Apartments, a multifamily property at 4650 W. Oakey Blvd. in Las Vegas. Apple Management sold the property for $66 million in an off-market transaction. Situated on 20 acres, the property features 61 two-story buildings offering a total of 488 apartments in a mix of one- and two-bedroom units, with an average unit size of 950 square feet. Built in 1988, Sandpiper …

Plumbing Manufacturer Opens 148,000 SF Distribution Center in North Las Vegas

NORTH LAS VEGAS — Oatey Co., a plumbing manufacturer since 1916, has opened a new distribution center in North Las Vegas. The 148,000-square-foot facility features high efficiency LED lighting and HVLS fans, and meets LEED Silver requirements. The distribution center will stock thousands of residential and commercial plumbing products across the company’s 23 categories and sold under the Oatey family of brands. The new facility will further enhance Oatey’s ability to service its …

NAI Vegas Arranges $47.6M Acquisition of 212-Unit Las Vegas Grand Apartments

LAS VEGAS — NAI Vegas has arranged the purchase of Las Vegas Grand Apartments, a multifamily complex in Las Vegas. 3D Investments acquired the property from 818 Flamingo Co. for $47.6 million, or $224,528 per unit. Located at 818 E. Flamingo Road, Las Vegas Grand Apartments features 212 units. Patrick Sauter, Art Carll-Tangora and Steve Nosrat of the Sauter Multifamily Advisors at NAI Vegas represented the buyer in the

Canon Commercial Buys 214,127 SF Westland Fair Retail Asset in Las Vegas

LAS VEGAS — Houston-based Weingarten Realty Investors has completed the sale of Westland Fair, a shopping center in west Las Vegas. Southern California-based Cannon Commercial acquired the asset for an undisclosed price. The transaction included seven parcels totaling 214,127 square feet of retail space. Rob Ippolito and Michael Zobrist of Newmark Knight Frank represented the seller in the deal. Located at 1251 S. Decatur Blvd., Westland Fair is anchored by regional and national …

PREH Paseo Verde Acquires 60,499 SF Office Building in Nevada for $19.4M

HENDERSON, NEV. — PREH Paseo Verde LLC has purchased 2200 Paseo Verde, a Class A office building located at 2200 Paseo Verde Parkway in Henderson. Pacific Oak SOR II sold the asset for $19.4 million. Situated within The District at Green Valley Ranch, the 60,499-square-foot property features 24-hour access, a courtyard, balcony and on-site property management. At the time of sale, the building was 94 percent leased to a variety of tenants, including Berkadia Real Estate Advisors, Ticor …

Bass Cap, LM Construction Complete 195,947 SF Industrial Asset in Las Vegas, Sell to EastGroup for $25.5M

LAS VEGAS — EastGroup Properties has acquired a Southwest Commerce Center, a newly constructed industrial asset in Las Vegas, for $25.5 million. Brass Cap Development and LM Construction Co. collaborated on the project. The property consists of three concrete tilt-up buildings offering a total of 195,947 square feet of industrial space. Situated on 11 acres at the northwest corner of Russell Road and Decatur Boulevard, the asset’s three buildings range from 23,000 square feet to 101,000 …

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