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Nevada

Otonomus-Las-Vegas-NV
DevelopmentLoansMultifamilyNevadaWestern

Growth Holdings Receives $85M Construction Loan for Otonomus Las Vegas Apartments

by Amy Works

LAS VEGAS — Las Vegas-based Growth Holdings has received a $85 million first lien construction loan for the development of Otonomus Las Vegas, a residential and short-term rental property. Slated to open in fourth-quarter 2024, the 303-unit community will feature fully furnished apartments with stainless steel appliances, granite and quartz countertops, tile backsplashes and LED lighting. The four- and five-story complex will offer open floor plans, 10-foot ceilings, walk-in closets and private balconies. Community amenities will include a fitness center, clubhouse, meeting space, lounge areas, three courtyards with picnic and barbecue areas, and two resort-style pools with cabanas. Additionally, the property will feature 38,000 square feet of retail offerings. Brad Ferguson of Dallas-based HALL Structured Finance (HSF) originated the loan. Las Vegas-based CORE Advisory Partners sourced the financing for the project.

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DevelopmentIndustrialNevadaWestern

Westport Properties Plans 84,511 SF Industrial Facility in Henderson, Nevada

by Amy Works

HENDERSON, NEV. — Westport Properties has released plans to develop an industrial property on a recently acquired land site in Henderson. Construction of the single-tenant, 81,511-square-foot facility is slated to begin in first-quarter 2023. Located at the corner of Bruner Avenue and Amigo Street, the building will feature 32-foot clear heights, a secured truck court, ESFR sprinklers, 11 dock doors and 5,000 square feet of office space. Completion is scheduled for fourth-quarter 2023. Amy Ogden of Logic Commercial Real Estate will oversee leasing.

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Agora-Mixed-Use-Project-North-Las-Vegas-NV
DevelopmentHealthcareMixed-UseNevadaOfficeRetailWestern

Agora Realty Starts Construction of 29-Acre Mixed-Use Project in Downtown North Las Vegas

by Amy Works

NORTH LAS VEGAS, NEV. — Agora Realty and Management has broken ground on a 29-acre mixed-use, master-planned commercial district in downtown North Las Vegas. The redevelopment project is located at the gateway to the city, east of Interstate 5 along Lake Mead Boulevard and north along Las Vegas Boulevard. Slated for completion in 24 months, the $105 million project will include 200,000 square feet of retail space and 125,000 square feet of healthcare and medical office space. Earlier this year, Agora started construction on a 22,000-square-foot medical office building that will include primary care and specialty services. The company plans to create a public space with children’s areas and event venues, as well as a large screen for outdoor presentations and movies. Agora also plans to incorporate micro-business suites that range in size from 150 square feet to 450 square feet. SCA Architects is doing construction drawings, and Mycotoo will work with Agora on design and programming for the micro-businesses and public space.

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Three-Buildings-Victory-Logistics-District-Fernley-NV
DevelopmentIndustrialNevadaWestern

Mark IV Capital Breaks Ground on Three-Building Distribution Complex Near Reno, Nevada

by Amy Works

FERNLEY, NEV. — Mark IV Capital, with Premier Design + Build as general contractor, has broken ground on a three-building distribution project totaling more than 1 million square feet in Fernley, 30 miles east of Reno. Known as Victory Logistics District Buildings B, C and D-2, the new facilities are part of Victory Logistics District, a master-planned industrial development on 4,300 acres owned by Mark IV Capital. Victory Logistics District has direct access to two transcontinental highways (Interstate 80 and U.S. Highway 50) and a rail line serviced by Union Pacific and BNSF. The 634,520-square-foot Building D-2 will feature 40-foot clear heights, 120 dock doors, four drive-in doors and state-of-the-art mechanical and electrical systems. Additionally, the Premier team will add parking for 332 autos and 312 trailers to the project. Totaling 217,447, Building C will offer 26 dock doors, two drive-in doors, state-of-the-art mechanical and electrical systems, 36-foot clear heights and parking for 191 autos and 42 trailers. The 169,820-square-foot Building B will feature 36-foot clear heights, 26 dock doors, two drive-in doors, state-of-the-art mechanical and electrical systems, a speculative office tenant improvement and parking for 172 autos and 43 trailers. The Premier project team includes Jeramy Mahfet, Greg Lew, …

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Vantage-North-North-Las-Vegas-NV
DevelopmentIndustrialNevadaWestern

VanTrust Breaks Ground on Phase I of 4.5 MSF Vantage North Industrial Development in North Las Vegas

by Amy Works

NORTH LAS VEGAS — VanTrust Real Estate has broken ground on the first two buildings at Vantage North, an industrial project offering upward of 4.5 million square feet of logistics and distribution facilities at full build out. Situated on 350 acres, the asset is in North Las Vegas offering visibility along Interstate 5. Infrastructure and site work commenced in January at Vantage North. VanTrust has already preleased one of the buildings to Saddle Creek Logistics, which will occupy 580,000 square feet in fourth-quarter 2023. The first two buildings will total more than 1 million square feet and are scheduled for completion in November 2023. Kevin Higgins and Jake Higgins of CBRE are marketing the development for lease.

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SunPoint-West-North-Las-Vegas-NV
AcquisitionsIndustrialNevadaWestern

SunCap Property, Diamond Realty Investments Sell 730,771 SF SunPoint West Industrial Park in North Las Vegas

by Amy Works

NORTH LAS VEGAS — SunCap Property Group and Diamond Realty Investments have completed the sale of SunPoint West, a newly constructed industrial park in North Las Vegas. Terms of the transaction were not released. Situated on 39.2 acres, the six-building asset features 730,711 square feet of Industrial space. At time of sale, the park was 100 percent leased to six tenants. SunPoint West is located at 2025, 2125, 2205, 2225, 2255 and 2305 West Cheyenne Ave. Michael Kendall, Gian Bruno, Kenny Patricia, Dan Doherty, Paul Sweetland, Chris Lane and Jerry Doty of Colliers marketed the property for sale.

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601-617-Mall-Ring-Circle-Henderson-NV
AcquisitionsNevadaRestaurantRetailWestern

PEBB Enterprises Sells Galleria Pavilion Shopping Center in Henderson, Nevada for $22.5M

by Amy Works

HENDERSON, NEV. — South Florida-based PEBB Enterprises has completed the disposition of Galleria Pavilion, a shopping center located at 601-617 Mall Ring Circle in Henderson. Dong Koo Kim and Jong Ok Kim, trustees of the Dong Koo Kim and Jong Ok Kim Family Trust, acquired the asset for $22.5 million. The 64,598-square-foot Galleria Pavilion is on an outparcel of Sunset Mall, a 1.1-million-square-foot retail center. At the time of sale, the multi-tenant Galleria Pavilion was 95 percent occupied. Current tenants include Buffalo Wild Wings, Panera Bread, Nothing Bundt Cakes, Aqua Tots and Plato’s Closet. PEBB originally purchased the property in October 2019, when it was only 37.4 percent occupied. Adam Malan and Deana Marcello of LOGIC Commercial Real Estate represented the seller, while Jennifer Lee of Berkshire Hathaway Home Services Nevada represented the buyers in the deal.

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550-Mallory-Way-Carson-City-NV
AcquisitionsIndustrialNevadaWestern

SVN|Gold Dust Brokers Sale of 119,500 SF Industrial Building in Carson City, Nevada

by Amy Works

CARSON CITY, NEV. — SVN | Gold Dust Commercial Associates has arranged the sale of 550 Mallory Way, a Class C industrial property in Carson City. Terms of the transaction were not released. The 119,500-square-foot building features 12- to 20-foot clear heights, dock-high doors and at-grade doors. The property also offers proximity to Highway 50, Highway 395 and I-580. Jack Brower and Wes Brogan of SVN | Gold Dust represented the undisclosed seller in the deal.

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ArizonaColoradoDevelopmentHospitalityNevadaTop StoriesUtahWestern

Partnership Plans 15 New Extended Stay America Premier Suites Hotels in Western Region

by Kristin Harlow

CHARLOTTE, N.C. — Charlotte-based Extended Stay America has signed a development agreement with a partnership comprising Concord Hospitality and Whitman Peterson to build 15 new Extended Stay America Premier Suites hotels. The properties will be located in major markets throughout the West, including Denver, Phoenix, Las Vegas and Salt Lake City. Concord Hospitality is a hotel management and development company based in Raleigh, N.C., and will handle the development, branding and operations of the properties. Whitman Peterson is a private real estate equity company based in Westlake Village, Calif. The firm will provide equity, identify markets and assist with development. “Extended Stay America Premier Suites has a unique business model that will allow us to reach business and corporate extended-stay travelers looking for a higher level of amenities,” says Mark Laport, CEO and president of Concord. “This agreement is the first step in increasing our presence in the higher-end extended-stay segment.” The Extended Stay America Premier Suites brand comprises both new construction and renovated properties with upgraded amenities, including fully equipped kitchens, apartment-style layouts for working and dining, free in-room Wi-Fi, cable, onsite guest laundry, free breakfast and upgraded design elements such as larger TVs, increased storage space and a …

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