REBusinessOnline

Moonwater Capital Sells 58,950 SF Las Vegas Office Property for $19.9M

LAS VEGAS — TSSP – Moonwater Capital has completed the disposition of an office property within the Summerlin master-planned community in Las Vegas. A California-based private investment entity acquired the property for $19.9 million, or $338 per square foot. Located at 1451 Center Crossing Road, the building features 58,950 square feet of Class A office space. An undisclosed Fortune 500 company occupies the single-tenant property. Tivon Moffitt, Peter Bauman and Bret Davis of JLL …

Acquisitions, Nevada, Office, Western

Panattoni Development Completes Centennial Commerce Center in North Las Vegas

LAS VEGAS — Panattoni Development Co. has completed the construction of Centennial Commerce Center, a speculative industrial facility in North Las Vegas. Located at 6405 E. Centennial Parkway on 10.4 acres, the cross-docked 213,000-square-foot facility features 32-foot clear heights, ESFR sprinklers, LED warehouse lighting and flexible office build-outs. Valued at $16 million, the project will designed with flexibility to accommodate up to four 51,000-square-foot tenants. Speedway10 …

Development, Industrial, Nevada, Western

Next Wave Investors Acquires Two Multifamily Properties in Nevada, Utah Totaling 188 Units

WEST VALLEY CITY, UTAH, AND LAS VEGAS — Next Wave Investors has purchased two multifamily communities in Nevada and Utah totaling 188 units for an undisclosed price. Additional details of the acquisitions were not released. Next Wave acquired Harlow Apartments, a 98-unit property located at 10602 W. Alexander Road in Las Vegas, with units averaging 1,061 square feet. The resort-style, Class A property was built to condominium specifications and was more than 95 percent occupied at time of …

Acquisitions, Multifamily, Nevada, Utah, Western

Albertsons Cos. Acquires Site in Reno for 63,000 SF Safeway Store

RENO, NEV. — Albertsons Cos. has closed escrow on a 5.4-acre land site at the Damonte Ranch Town Center In Reno. Kelly Bland of NAI Alliance assisted in the sale of the property. The seller and terms of the transaction were not disclosed. The buyer plans to build a 63,000-square-foot Safeway store on the site by 2021. The store will be the fourth anchor tenant in the 50-acre shopping center. Other tenants include The Home Depot, RC Willey and Office Depot. Safeway Northern California is …

Development, Nevada, Retail, Western

Mission Senior Living Breaks Ground on Mountain Lakes Estates Retirement Community in Reno

RENO, NEV. — Carson City, Nev.-based Mission Senior Living has broken ground on Mountain Lakes Estates Retirement Community in Reno. The 121,000-square-foot, four-story building will feature 130 active adult apartments for residents of at least 55 years of age. The project is scheduled for completion in spring 2020. The new property will be one of six Mission Senior Living communities, with additional locations in Nevada, Arizona and

Development, Multifamily, Nevada, Seniors Housing, Western

Marcus & Millichap Negotiates $5.2M Sale of 10,500 SF Retail Building in Las Vegas

LAS VEGAS — Marcus & Millichap has arranged the sale of Mountain’s Edge Pad E, a retail property in Las Vegas. An undisclosed seller sold the property for $5.2 million. Located at 8085 Blue Diamond Road, the property features 10,500 square feet of retail space. Dustin Alvino and Jake Wasserkrug of Marcus & Millichap represented the seller and undisclosed buyer in the

Acquisitions, Nevada, Retail, Western

Treehouse REIT Acquires Retail Assets in Las Vegas, California for $33.5M

DESERT HOT SPRINGS, CALIF., AND LAS VEGAS — Treehouse Real Estate Investment Trust has completed the purchase of two retail properties for a combined total of $33.5 million. Terms of the sales were not released. The properties are a retail storefront development on Highland Drive in Las Vegas and a 45,000-square-foot Dutch greenhouse in Desert Hot

Acquisitions, California, Nevada, Retail, Western

Colliers Negotiates $11.5M Purchase of 85,134 SF Retail, Office Asset in Las Vegas

LAS VEGAS — Colliers International has arranged the acquisition of a retail and office property, located within Scottsdale Plaza at 8716 S. Maryland Parkway in Las Vegas. SREF Scottsdale Plaza LLLP sold the 85,134-square-foot property to Highland and Sterling LLC for $11.5 million. Chris Clifford, Steve Neiger and Brett Rather of Colliers represented the buyer in the

Acquisitions, Nevada, Office, Retail, Western

PacifiCap Properties Sells 332-Unit Multifamily Asset in Reno for $35.3M

RENO, NEV. — Portland, Ore.-based PacifiCap Properties has completed the disposition of Southwest Village, a multifamily property located in Reno’s Old Southwest Reno neighborhood. A New York-based company acquired the property for $35.3 million, or $106,476 per unit. Constructed in 1972, the 14-building, controlled-access community features 332 apartments averaging 852 square feet, two swimming pools, three laundry facilities and 500 parking spaces. Kenneth Blomsterberg, Ryan …

Acquisitions, Multifamily, Nevada, Western

Shopoff Realty Sells Apartment Community in Las Vegas for $100M

LAS VEGAS — Shopoff Realty Investments has sold Pointe at Centennial, a 624-unit apartment community in Las Vegas, to The Calida Group for $100 million. Pointe at Centennial is situated at 5850 Sky Pointe Drive, about 11 miles northwest of downtown Las Vegas. The community offers one-, two- and three-bedroom floor plans ranging from 740 to 1,121 square feet per unit. Shopoff purchased the property in September 2016 as a value-add acquisition when roughly 25 percent of the units were …

Acquisitions, Multifamily, Nevada, Top Stories, Western
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