Nevada

Palisade-Wild-Horse-Commerce-Center-McCarran-NV

North Palisade Partners to Develop 141,882 SF Palisade Wild Horse Commerce Center Near Reno

by Amy Works October 6, 2022

MCCARRAN, NEV. — Los Angeles-based North Palisade Partners has purchased a 6.4-acre site in McCarran for the development of Palisade Wild Horse Commerce Center, a Class A industrial property. Located at 99 Wild Horse Canyon Drive within Tahoe Reno Industrial Center in McCarran, the 141,882-square-foot facility will feature 36-foot clear heights, more than 80 parking spaces, ESFR sprinklers, 18 dock-high loading positions, two grade-level doors, LED lighting and 2,000 amps of power with the ability to quickly expand power capabilities. The building will also be divisible to spaces of 90,000 square feet and 50,000 square feet. Completion is slated for mid-2024. Chris Fairchild of Colliers brokered the acquisition transaction.

October 6, 2022

Development Healthcare Hospitality Mixed-Use Nevada Office Retail Top Stories Western

Pacific Group Breaks Ground on 135-Acre Helios Medical Campus in North Las Vegas

by Katie Sloan October 6, 2022

NORTH LAS VEGAS, NEV. — Pacific Group has broken ground on Helios, a 135-acre medical campus located in North Las Vegas. Construction costs for the project are set to total between $4.5 billion and $5 billion. At full buildout, the project is set to include a 1.1 million-square-foot inpatient hospital offering 600 beds, which will be built in three phases costing $1.2 billion; 1.3 million square feet of medical office and medical technology space; 250,000 square feet of retail with an emphasis on health and wellness; 900,000 square feet of research-and-development space with incubator spaces; 290 hotel rooms across two buildings; and seven restaurants, four of which will be full-service. The hospital portion of the development will offer an emergency department, surgical services and critical care. Additional outpatient offerings will include occupational therapy; behavioral and mental health therapy; educational facilities; testing labs; a sports rehabilitation center; skin care treatment; speech therapy; trauma therapy; radiology; imaging; urology; gastrointestinal care; pre- and post-natal care; and dental services. The research and development portion of Helios will focus on healthcare, aerospace technologies and sustainability. Local food and beverage offerings, athletic facilities, a grocery store, financial institutions, daycare centers and shops will occupy the retail segment …

October 6, 2022

Development Multifamily Nevada Seniors Housing Western

MorningStar, Confluent Break Ground on 168-Unit Seniors Housing Development in Las Vegas

by Amy Works September 30, 2022

LAS VEGAS — MorningStar Senior Living and Confluent Senior Living have broken ground on MorningStar Senior Living at The Canyons, the joint venture’s first development in Nevada. Located in Las Vegas, the four-story, 196,000-square-foot community will feature 95 independent living, 49 assisted living and 24 memory care units. Common areas will include indoor and outdoor dining venues, a pool and spa, fitness center and clubroom terrace with views of the Vegas Strip and mountains to the west. Additionally, the community will feature wellness programs that will meet residents’ social, intellectual, physical and spiritual needs. Completion is slated for summer 2024. Confluent Senior Living, a subsidiary of Denver-based Confluent Development, serves as project owner, and MorningStar Senior Living as operator. MorningStar at The Canyons is the 14th development for the co-developers and project partners.

September 30, 2022

Acquisitions Multifamily Nevada Western

Northcap Commercial Brokers $8.6M Sale of Stax Studios Apartment Complex in Downtown Las Vegas

by Amy Works September 26, 2022

LAS VEGAS — Northcap Commercial has arranged the sale of Stax Studios, a studio apartment community in downtown Las Vegas. Clark Studio Investar LLLP sold the asset to an undisclosed buyer for $8.6 million, or $196,591 per unit. Built in 1963 and fully renovated in 2019, the property offers 44 studio units. Stax Studios is located at 501 S. 10th St. Devin Lee, Robin Willett and Jerad Roberts of Northcap Commercial represented the seller in the deal.

September 26, 2022

Acquisitions Nevada Office Western

Kingsbarn Realty Capital Buys Six-Building Green Valley Corporate Center in Henderson, Nevada for $114.5M

by Amy Works September 22, 2022

HENDERSON, NEV. — Kingsbarn Realty Capital has acquired Green Valley Corporate Center, a six-building office portfolio totaling 347,015 square feet in Henderson. JMA Ventures and Blue Vista Capital Management sold the portfolio for $114.5 million. Tyler Ecklund, James Griffis, Brad Peterson, Darren Lemmon and Justin Witt of CBRE represented the seller in the deal. Green Valley Corporate Center North consists of three Class A office properties: 2275 Corporate Circle, a three-story, 68,444-square-foot building 2285 Corporate Circle, a two-story, 45,337-square-foot building 2370 Corporate Circle, a three-story, 69,208-square-foot building Green Valley Corporate Center South consists of three Class A office properties: 2475 Village View Drive, a two-story, 44,526-square-foot building 2485 Village View Drive, a three-story, 69,222-square-foot building 2495 Village View Drive, a two-story, 50,278-square-foot building

September 22, 2022

Acquisitions Development Loans Multifamily Nevada Western

LDK Ventures Receives $59.3M Acquisition Loan for Integra Peaks at Damonte Ranch Multifamily Development in Reno

by Amy Works September 22, 2022

RENO, NEV. — LDK Ventures has received a $59.3 million senior loan for the purchase of Integra Peaks at Damonte Ranch, a partially complete apartment property in Reno. PCCP provided the loan. Located at 875 Damonte Ranch Parkway, the community is approximately 75 percent complete, with final delivery slated for late March 2023. Totaling 300 units, Integra Peaks consists of five four-story, elevator-served residential buildings and 10 two-story, carriage-style buildings. The unit interiors feature vinyl plank flooring, vaulted ceilings on fourth-floor units, island kitchens, high-end energy efficient appliances, tiled showers and baths, LED lighting and private balconies with mountain views. Community amenities include a standalone clubhouse offering a fitness facility with separate yoga and spin rooms, a cybercafé, resort-style pool, cabanas, outdoor firepits and a dog park.

September 22, 2022

Acquisitions Loans Nevada Restaurant Retail Western

JLL Capital Markets Arranges $41.2M Sale of Craig Marketplace in Las Vegas

by Amy Works September 21, 2022

LAS VEGAS — Gerrity Group has sold Craig Marketplace, a 119,280-square-foot retail center in Las Vegas, for $41.2 million. Gleb Lvovich and Daniel Tyner of JLL Capital Markets represented both Gerrity and the California-based buyer in the 1031-exchange transaction. John Marshall, Jordan Leake and Carl Beardsley, also of JLL, secured acquisition financing on behalf of the buyer. Anchored by Albertsons, the center was 94.5 percent leased at the time of sale to tenants including Jack in the Box, Popeyes Louisiana Kitchen, Starbucks Coffee and Subway. Situated at 7101-7181 W. Craig Road, the property was built in 2002.

September 21, 2022

Acquisitions Nevada Office Western

CBRE Negotiates $5.1M Sale of Two-Building Office, Industrial Property in Las Vegas

by Amy Works September 21, 2022

LAS VEGAS — CBRE has brokered the sale of two freestanding commercial buildings at 2829 Losee Road in Las Vegas. Bob Beylik acquired the asset from Jaramillo Trust for $5.1 million. Built in 1989, the property includes a 4,500-square-foot office space and a 10,000-square-foot industrial warehouse facility on a 3.4-acre secured plot. The two buildings are located near the Interstate 15 interchange, North Fifth Street and Cheyenne Avenue. Tyler Ecklund and James Griffis of CBRE represented the seller in the deal.

September 21, 2022

Camino-Al-Norte-Office-Park-North-Las-Vegas-NV

Acquisitions Nevada Office Western

CBRE Arranges $5M Sale of Six Camino Al Norte Office Park Buildings in North Las Vegas

by Amy Works September 19, 2022

NORTH LAS VEGAS, NEV. — CBRE has arranged a $5 million sale of six grey shell office buildings within Camino Al Norte Office Park in North Las Vegas. Totaling 33,800 square feet, the assets were sold to five private buyers. Michael Hsu, Roy Fritz and Kellie Ortiz-Thompson of CBRE represented the Las Vegas-based seller and developer, NDL Group, in the transactions. The sales included six single-story, freestanding buildings at 5115, 5119, 5145, 5155, 5191 and 5195 Camino Al Norte. The properties were designed for medical and professional use. The buildings at 5115 and 5119 Camino Al Norte were completed in 2020 and offer approximately 5,000 square feet each. The remaining four buildings were completed in 2022 and offer approximately 6,000 square feet each.

September 19, 2022

Acquisitions Multifamily Nevada Seniors Housing Western

ESI Brokers Sale of TLC Care Center Skilled Nursing Facility in Henderson, Nevada for $50M

by Amy Works September 12, 2022

HENDERSON, NEV. — Evans Senior Investments (ESI) has arranged the sale of TLC Care Center, a 255-bed skilled nursing facility in Henderson. An independent owner-operator sold the asset to Hill Valley Healthcare for $50 million, or $196,000 per bed. Built in 1999, TLC Care Center is located just 10 miles south of the Las Vegas strip. The facility features 35 private and 112 semi-private rooms, which includes 42 ventilator-equipped beds in a designated wing. Prior to the COVID-19 pandemic, the facility exhibited over 90 percent occupancy levels and produced over $24 million in annual revenue. However, because of the pandemic, occupancy was only 58 percent at the time of marketing. “The competitive bidding and record-breaking price per bed for a community whose census was below stabilized levels showcases the strength of the skilled nursing market today,” says Brendan DeSilvia, associate at ESI. The acquisition was Hill Valley Healthcare’s first in Nevada.

September 12, 2022

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