LAS VEGAS — Northcap Commercial has arranged the sale Bonanza Gardens Apartments, a multifamily property located at 2751 E. Bonanza Road in Las Vegas. The property sold for $20 million, or $116,959 per unit. Built in 1964, the community features 171 apartments. Robin Willett, Devin Lee and Jerad Roberts of Northcap Commercial represented the undisclosed seller and procured the buyer in the off-market transaction.
SPARKS, NEV. — Irvine, Calif.-based Bendetti and Singerman Real Estate have completed a $71 million off-market recapitalization of an industrial portfolio in Sparks. Known as Southern Way Industrial, the portfolio includes three single- and multi-tenant buildings totaling more than 635,000 square feet. Spread across a 21-acre site, the buildings feature clear heights ranging from 18 feet to 28 feet. At the time of closing, the portfolio was 54 percent occupied.
LAS VEGAS — Brixton Capital has purchased Las Palmas Village, a shopping center at 445 E. Windmill Lane in Las Vegas, from Australia-based Cop Group for $29.4 million in an off-market transaction. Las Palmas Village features 106,838 square feet of grocery-anchored retail space that was 95 percent occupied at the time of sale. Current tenants include Vons, Starbucks Coffee, Wells Fargo, Pizza Hut, The UPS Store and Taco Bell. Brixton plans to implement a comprehensive capital improvement program to position the property for long-term institutional-quality performance. Planned improvements include landscaping, painting, roof repairs, HVAC and parking lot resurfacing upgrades. Dan Tyner, Gleb Lvovich and Geoff Tranchina of JLL represented the seller, while Brixton was self-represented in the transaction. Previously, Brixton owned Decatur 215, a 126,678-square-foot shopping center in Las Vegas, which it sold in 2023. The acquisition of Las Palmas Village marks the company’s return to the Las Vegas market.
NORTH LAS VEGAS, NEV. — Premier Logistics Properties, in partnership with PCCP, has acquired an infill, big box warehouse at 4550 Nexus Way in North Las Vegas. Terms of the off-market transaction were not disclosed. Developed in 2017 on 38.2 acres, the 813,120-square-foot building features a clear height of 36 feet, full concrete truck courts and ample employee parking and trailer storage. Amazon fully occupies the property.
LAS VEGAS — Lucescu Realty has arranged the sale of Peccole Plaza, a shopping center in Las Vegas. Peccole Enterprises sold the asset to a privately held, Las Vegas-based development and investment company for $38.6 million. Peccole Plaza features 161,978 square feet of gross leasable area that is fully leased to a variety of tenants. Current tenants include Kohl’s, Guitar Center, Golf Galaxy, Walgreens, Jack in the Box, Dotty’s, Green Valley Grocery and Desert Orthopaedic. Mark Lucescu and Tanner Englelage of Lucescu Realty were the sole brokers for the transaction. The Lucescu Realty team represented the seller and procured the buyer in the the deal.
LAS VEGAS — Kisco Senior Living has announced plans to develop a new seniors housing property in Summerlin, a master-planned community located in Las Vegas. Upon completion, the property will feature independent living, assisted living and memory care units. “Summerlin is one of the most compelling senior living markets in the country, and frankly, one of the most underserved when it comes to truly elevated options,” said Andy Kohlberg, president and CEO of Kisco Senior Living, in a statement. “We’re building something that reflects how today’s older adults want to live: beautifully designed spaces, exceptional food, genuine hospitality and the security of knowing care is available if and when they need it — all on a simple rental basis with no buy-in required.” Additional details will be disclosed as planning advances.
HENDERSON, NEV. — LaPour has broken ground on Black Mountain Commerce Center, a Class A industrial condominium project in Henderson. Located at 835 W. Warm Springs Road, the 146,000-square-foot facility will offer for-sale units ranging from 21,125 square feet to full-building opportunities. Black Mountain Commerce Center will features a clear height of 28 feet, dock-high and grade-level loading, ESFR fire sprinkler systems, R-38 insulation, HVAC-ready warehouse with LED lighting and 4,000 amp, 277/480-volt, 3-phase power. The development will include 166 parking spaces, 16 EV-capable stalls and outdoor tenant amenity areas with access to nearby hiking and biking trails. Sean Zaher and Tyce O’Neill of CBRE are handling leasing and marketing for the project.
LAS VEGAS — Irvine, Calif.-based investment and development firm The Bascom Group has acquired The Ellison, a 294-unit apartment complex located in the Summerlin/Spring Valley submarket of Las Vegas, for $103 million. The sales price translates to approximately $350,000 per door. The Ellison is situated along I-215 in southwest Las Vegas in an area known as “The Curve.” Several developments are underway in the surrounding area, including the Athletics’ new baseball stadium, Intermountain Healthcare’s Children’s Hospital and expansions of the Roseman Nursing School and UNLV Harry Reid Research & Technology Park. Completed in 2024, The Ellison offers studio, one- and two-bedroom units with an average size of 901 square feet. Amenities include a heated, resort-style pool and spa with a jumbotron screen, as well as a clubhouse lounge, fitness center with dedicated spin and Pilates studios. Jonathan Merhaut, Doug Schuster and Curt Allsop of Newmark represented the undisclosed seller in the transaction. Lee Redmond, Nicholas Schroeder, Vincent Punzi and Lowell Takahashi, also with Newmark, arranged an undisclosed amount of acquisition financing through AXA Investment Managers US Inc. on behalf of Bascom Group. “The Ellison is a notable example of why we keep coming back to Las Vegas,” says Tom Gilfillan, …
— By Jared Glover of Berkadia — While several Sun Belt and Rocky Mountain markets continue to work through challenging operations, elevated supply and weakening fundamentals, Reno has emerged as a bright spot in the West. The city posted 2.5 percent year-over-year employment growth, adding more jobs in 2025 than Las Vegas. This is a remarkable stat given that Reno’s population is roughly one-fifth the size of its Southern neighbor. At the same time, Reno’s population grew at roughly four times the national average as median household income climbed to just over $90,000 as the economy continued to diversify into technology, healthcare and manufacturing. In fact, Northern Nevada saw 14 site visits per month last year for potential corporate relocations, according to a recent report by the Economic Development Authority of Western Nevada (EDAWN). This places the region it in the top 1 percent of U.S. markets, reinforcing long-term growth expectations. Several major development projects look to keep this momentum going. The most significant is the $1 billion transformation of the Reno-Tahoe International Airport, which saw a record 4.9 million passengers in 2025. The University of Nevada, Reno, also continues to invest heavily in new buildings to attract and retain top …
LAS VEGAS — CBRE has directed the sale of South Rainbow Business Park, an office property located at 5920 and 5940 S. Rainbow Blvd., in Las Vegas. GPS LV Business Park acquired the asset from South Rainbow Park Property Co. LCC for $11.7 million. The 43,944-square-foot office park is fully leased to a mix of professional and medical tenants. Marc Magliarditi and Miranda Jennings of CBRE represented the seller in transaction.
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