REBusinessOnline

Nevada

Witkoff, New Valley Buy Former Fountainbleau Resort in Las Vegas for $600M

LAS VEGAS — A partnership between Witkoff and New Valley LLC has purchased the former Fountainbleau resort on the Las Vegas Strip for $600 million. The property is located at 2755 Las Vegas Blvd. S. The 63-story resort never fully saw the light of day after construction ceased on the $2.9 billion, 3,900-room property in 2009 in the midst of the Great Recession. It was purchased by Carl Icahn’s firm, Icahn NV Gaming Acquisition LLC, in 2010 for $150 million when the asset was in..

August 30, 2017

Tanglewood Village Apartments in Carson City Changes Hands

CARSON CITY, NEV. — A limited liability company has acquired the 130-unit Tanglewood Village Apartments in Carson City for an undisclosed sum. The community is located at 919 S. Roop St. It is situated near Interstate 580 and U.S. Route 50. Amenities include a swimming pool, sundeck, tennis courts and a fitness center. It was built in 1978 to condominium specifications. Kenneth Blomsterberg, Ryan Rife and Benjamin Nelson of Marcus & Millichap represented both the buyer and seller,..

August 29, 2017

GLVAR Sells Las Vegas Headquarters for $2.7M

LAS VEGAS — The Greater Las Vegas Association of Realtors (GLVAR) has sold its local headquarters for $2.7 million. The office is located at 1750 E. Sahara Ave. GLVAR has leased the space back from the new owner, Laborers’ International Union North America (LIUNA), until its new facility is built on Rainbow Boulevard, just north of Sunset Road. David R. Scherer of Newmark Grubb Knight Frank represented GLVAR, while Peter Guzman represented LIUNA.

August 28, 2017

SR Construction Completes Two Neighborhood Hospitals in Las Vegas for Dignity Health

LAS VEGAS — SR Construction has completed construction of two of the Las Vegas Valley’s first neighborhood hospitals, North Las Vegas Campus and Blue Diamond Campus. The projects are a joint venture between Dignity Health and Emerus. The North Las Vegas Campus Neighborhood Hospital is located at 1550 W. Craig Road in North Las Vegas and was the first to be built in the state. The three-story building houses a licensed hospital on the first floor with 16 patient rooms. The hospital also..

August 23, 2017

Panattoni Development Completes $24M Airport Industrial Center in Henderson

HENDERSON, NEV. — Panattoni Development has completed a 482,300-square-foot industrial building at South 15 Airport Center in the Las Vegas submarket of Henderson. The building is situated on a 28-acre parcel on Executive Airport Drive. The $24 million project has a clear height of 36 feet. The project is the only large industrial development located in the south end of the valley, according to Panattoni. PDC USIF South 15 LLC, a joint venture between Panattoni Development and Hillwood,..

August 17, 2017

JLL Income Property Trust Acquires Montecito Marketplace in Las Vegas for $63M

LAS VEGAS — JLL Income Property Trust has acquired Montecito Marketplace, a 190,000-square-foot shopping center located in Las Vegas, for $63 million. Smith’s Grocery and TJ Maxx anchor the fully leased property, which is home to national and regional retailers, restaurants, banks and personal service tenants. The seller in the transaction was undisclosed. Jones Lang LaSalle Income Property Trust Inc. is a REIT that owns and operates a portfolio of high quality office, retail, industrial..

August 15, 2017

Blueprint Studios Trends Leases Former IGT Headquarters in Las Vegas

LAS VEGAS — Blueprint Studios Trends has leased an 81,000-square-foot space within the Southwest Corporate Campus in Las Vegas that formerly served as the headquarters of International Gaming Technology (IGT). The campus is located at 7900 W. Sunset Road. The studio plans to use the space to produce designs for large-scale events, including tradeshows, general sessions, exhibit booths, summits and sales kick-off meetings. Southwest Corporate Campus was completed in 2007. Notable..

August 9, 2017

Farnam Realty Acquires 430-Unit Veritas Apartments in Las Vegas

LAS VEGAS — Farnam Realty has acquired the 430-unit Veritas Apartments in the Las Vegas submarket of Henderson for an undisclosed sum. The Class A community is located at 3370 St. Rose Parkway. Veritas Apartments was built in 2010. It offers one- to three-bedroom units. The building features four swimming pools, a covered patio with an outdoor kitchen, barbecue grills, a fitness center with a yoga room, and a clubhouse with gaming room and cyber café. JLL’s John Cunningham and..

August 3, 2017

Nevada Childhood Cancer Foundation, The Caring Place Open in Las Vegas

LAS VEGAS — DC Building Group has completed construction on the Nevada Childhood Cancer Foundation and The Caring Place, which assists thousands of Southern Nevada residents every year. The 15,578 square-foot facility is located at 3711 E. Sunset Road. The facility will be referred to as the “Britney Spears Campus” due to her generous fundraising efforts of more than $1 million. The new structure combines more than 45 pediatric and adult services that were previously housed in two..

August 2, 2017

Peak Campus to Operate Rebel Place Student Housing in Las Vegas

LAS VEGAS — Atlanta-based Peak Campus has been awarded management of Rebel Place in Las Vegas, along with three other student housing communities in Texas and North Carolina. Waypoint Campus Housing, an affiliate of Waypoint Residential, purchased the 2,062-bed portfolio. Each community is located minutes from campus, and offers shared amenities including clubhouses with gaming stations, resort-style pools, business centers and computer labs, study rooms, sports courts, and outdoor social..

July 31, 2017