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LAS VEGAS — Phoenix Recycling Technologies has leased 75,000 square feet of industrial space at 4775 E. Cheyenne Ave. in Las Vegas. The 10-year lease is valued at $4.2 million. Jennifer Levine of Grubb & Ellis|Las Vegas represented the tenant; Xavier Wasiak, also of Grubb & Ellis|Las Vegas, represented the landlord, LV Cheyenne LLC, in the transaction.