Nevada

CapRock Partners Completes Two Industrial Warehouses in Las Vegas

by Jeff Shaw April 7, 2023

LAS VEGAS — CapRock Partners has completed construction of two industrial warehouse distribution facilities in Las Vegas totaling nearly 700,000 square feet. The first asset, Tropical Logistics Phase II, contains three single-tenant buildings totaling 442,780 square feet in the North Las Vegas submarket. The space is fully pre-leased to high-quality tenants. The second asset is Spanish Ridge Industrial Park, which contains three buildings totaling 230,899 square feet in the Southwest submarket. It is partially pre-leased to investment-grade credit tenants. Rob Lujan, Xavier Wasiak and Jason Simon of JLL represented CapRock Partners in the leasing of Spanish Ridge Industrial Park and Tropical Logistics Phase II.

April 7, 2023

California Development Nevada Restaurant Retail Western

Simon, José Andrés Plan Three Restaurants in Las Vegas, Palo Alto

by Jeff Shaw April 3, 2023

PALO ALTO, CALIF. AND LAS VEGAS — Simon Property Group and José Andrés Group (JAG) have announced plans to collaborate and bring restaurants to three properties located in Las Vegas and Palo Alto. The partnership will introduce new dining concepts to Stanford Shopping Center in Palo Alto and The Shops at Crystals in Las Vegas. The collaboration will also bring Turkish, Greek and Lebanese restaurant Zaytinya to The Forum Shops at Caesars Palace in Las Vegas.

April 3, 2023

Acquisitions Healthcare Nevada Office Western

MIG Sells Pecos Plaza Medical Campus in Henderson, Nevada to Woodside Health for $26.7M

by Jeff Shaw March 22, 2023

HENDERSON, NEV. — MIG Real Estate has sold Pecos Plaza, a 124,000-square-foot medical and office campus in Henderson, to Woodside Health for $26.7 million. The Class B medical and office campus is located at 9005-9089 South Pecos Road. It includes a two-story building complemented by seven single-story medical/professional office buildings situated on a 7.6-acre parcel. The assets are 93 percent occupied with a tenant roster that includes Belle Medical, Las Vegas Urology, Serenity Dental, and Innovative Pain Care Center, among others. Cushman & Wakefield and JLL represented MIG in the transaction.

March 22, 2023

Development Industrial Nevada Western

Alston Begins Construction of 815,360 SF Industrial Building in Reno, Nevada

by Jeff Shaw March 10, 2023

RENO, NEV. — Alston Construction has broken ground on TRIC 688 West Building 3, an 815,360-square-foot speculative tilt warehouse/distribution facility in Reno. The project is the first building for Locus Development Group’s planned 200-acre campus. The project will allow for increased economic activity in an underdeveloped area with unused land. Valued at $47 million, construction on Building 3 is scheduled for completion in January 2024.

March 10, 2023

Development Industrial Nevada Self-Storage Western

DXD Capital Completes 991-Unit Self-Storage Facility in Las Vegas

by Jeff Shaw March 9, 2023

LAS VEGAS — DXD Capital has completed development of a 991-unit self-storage facility at 7435 West Sahara Ave. in Las Vegas. The company acquired the 1.7-acre parcel in January 2021. The development features two interior loading bays with room for three trucks in a fully climate-controlled building with two freight elevators, in addition to a storefront with moving supplies. Studio Level 1 designed the property, with Arco Murray as the general contractor. Public Storage is the operator.

March 9, 2023

Acquisitions Hospitality Nevada Western

Bajwa Properties Acquires 229-Room Hotel Portfolio in Reno, Nevada

by Amy Works March 6, 2023

RENO, NEV. — Reno-based Bajwa Properties has purchased a two-property hospitality portfolio in Reno. Terms of the transaction were not released. The 229-room portfolio includes a 94-key Staybridge Suites and a 135-key Hilton Garden Inn. Located at 10559 Professional Circle, Staybridge Suites features a 24-hour business center, onsite meeting room with flexible space, an outdoor pool and a fitness center. Hilton Garden Inn, at 9920 Double R Blvd., offers an onsite restaurant, business center, fitness center, indoor pool and event space. Bill Murney and Steve Avanzino of Cushman & Wakefield represented the undisclosed seller in the deal.

March 6, 2023

Acquisitions Industrial Nevada Western

MCA Realty Sells Windy Road Warehouses Industrial Park in Las Vegas for $5.9M

by Amy Works March 6, 2023

LAS VEGAS — MCA Realty has completed the sale of Windy Road Warehouses, a four-building industrial park located at 6460-6478 Windy Road in Las Vegas. A private investor acquired the park for $5.9 million, or $309 per square foot. Built in 1988, Windy Road Warehouse features 19,216 square feet of industrial space with immediate access to interstates 215 and 15. Garrett Toft, Kevin Higgins, Sean Zaher, Jake Higgins and Kelsey Higgins of CBRE represented MCA Realty, while Ed Whittemore of Larem represented the buyer in the transaction.

March 6, 2023

Acquisitions Nevada Office Western

DIG Sells 109,189 SF City Centre Place Office Building in Downtown Las Vegas

by Amy Works February 24, 2023

LAS VEGAS — Dornin Investment Group (DIG) has completed the disposition of City Centre Place, an office building located at 400 S. Fourth St. in downtown Las Vegas. California-based Ally Investments acquired the asset for $15.2 million. The six-story City Centre Place features 109,189 square feet of Class A office space. At the time of sale, the property was 36 percent occupied. Onsite amenities include an atrium, attached parking garage, controlled access, monument signage and security. Marc Magliarditi and Travis Landes of CBRE represented the seller in the transaction.

February 24, 2023

Development Multifamily Nevada Western

Lewis Apartment Communities Breaks Ground on 306-Unit Homecoming at Kiley Ranch in Sparks, Nevada

by Amy Works February 20, 2023

SPARKS, NEVADA — Lewis Apartment Communities, part of the Lewis Group of Cos., has broken ground on Homecoming at Kiley Ranch, an apartment community situated in the master-planned Kiley Ranch community in Sparks. The first building in the development is slated for completion in June 2023. Located at 1234 Sabata Way, Homecoming at Kiley Ranch will feature 306 apartments in a mix of one-, two-, three- and four-bedroom plans starting at 752 square feet. The three-story townhomes will range in size from 1,225 square feet to 1,518 square feet in a mix of two bedrooms and 2.5 baths, three bedrooms with three baths and four bedrooms with three baths. All townhomes offer attached direct access to two- or three-car garages. The apartments feature quartz countertops, a private balcony or patio, full-size washers/dryers, abundant storage, pantries, walk-in closets and designer kitchens with stainless steel appliances. Additionally, electric vehicle chargers can be integrated into private garage spaces. The community will feature a 5,100-square-foot clubhouse with fitness center, parcel lockers, a pool complex, barbecues, firepits, tot lot, indoor dog spa and dog park. The Lewis Apartment Communities portfolio in northern Nevada also includes Latitude 39, Esprit Townhome Apartments, Harvest at Damonte Ranch and …

February 20, 2023

Development Nevada Restaurant Retail Western

EEG, Creation Plan $50M Entertainment Venue on the Las Vegas Strip

by Amy Works February 16, 2023

LAS VEGAS — Evening Entertainment Group (EEG), in partnership with Creation, has unveiled plans for Bottled Blonde. Slated to open in late 2024, the asset will be a $50 million, four-story, 25,000-square-foot, standalone entertainment venue on the Las Vegas Strip. The full-service restaurant, bar and beer garden will feature an open-air rooftop lounge and a hub for sports, entertainment and nightlife. Bottled Blonde will offer craft cocktails, frozen adult beverages, fine wines, premium beers, a mimosa tower, 128-ounce beer tower and bottle service. Additionally, Bottled Blonde Las Vegas will also feature Zuluma, an all-new concept on the third floor.

February 16, 2023

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