LAS VEGAS — Spectrum Realty has acquired an office building located at 7560 W. Sahara Ave. in Las Vegas. GHV Group sold the 11,322-square-foot property for $1.6 million. Alexia Crowley, Al Twainy and Jennifer Lehr of Colliers International | Las Vegas represented the seller in the deal.
HENDERSON, NEV. — TRU Development, in partnership with capital partner and real estate operating company MultiGreen Properties, has acquired a 19-acre land parcel at the southeast corner of Galleria Drive and Boulder Highway in Henderson. Terms of the acquisition were not released. The partnership plans to develop theAPEX @galleria, a 336-unit apartment community with 3.8 acres of retail development available for sale, ground lease or build to suit. Apartments will be available for lease in March 2021. The Henderson development is the first of many planned theAPEX-branded communities throughout Nevada. In the next 12 months, TRU is slated to break ground on a total of 670 units under theAPEX brand in southern Nevada, 358 units under the KAKTUSlife brand and more than 600 units under theAPEX brand in northern Nevada.
LAS VEGAS — Los Angeles-based Dekel Capital has arranged $35 million in debt equity on behalf of Moonwater Capital for its acquisition of the NV Energy Pearson Building, an office building in Las Vegas. Located at 6226 W. Sahara Ave., the four-story property features 262,000 square feet of office space. NV Energy has been the sole tenant of the corporate headquarters building since it was constructed in 1983. The public utility, wholly owned by Berkshire Hathaway Energy, provides a wide range of services throughout the state of Nevada. In additional to raising joint venture equity for the Las Vegas-based borrower, Dekel arranged $23.8 million in long-term, fixed-rate, first mortgage debt from a West Coast-based regional bank. The borrower acquired the property as a core-plus asset to add to its office portfolio in the Las Vegas market, which totals approximately 700,000 square feet of commercial office space.
LAS VEGAS AND LAKESIDE, CALIF. — NorthMarq has arranged a $31 million refinancing for a three-property multifamily portfolio in Las Vegas and Lakeside. The portfolio includes a combined 924 units. Gardiner Champlin of NorthMarq’s San Diego office secured the refinancing that was structured with 10-year, interest-only terms. The firm arranged the permanent-fixed loan for the borrower, a San Diego-based client, through its in-house Fannie Mae team. The two Las Vegas properties are Silverado Village at 3750 Arvill St. and Summerlin Entrada at 1701 Rock Springs Drive. Built in 1981, Silverado Village features 440 units, a clubhouse, two pools, an indoor spa, two dry saunas, three tennis courts and six laundry facilities. Summerlin Entrada, which was constructed in 1987, offer 352 units, a gated entrance, clubhouse, two pools, a spa, tennis court, basketball courts, fitness center, business center, tot lot and three laundry facilities. Located at 12840 Mapleview St. in Lakeside, Stoneridge Apartments features 132 units, tuck-under private garages, a pool and five laundry facilities. The property was built in 1986.
LAS VEGAS — GLM Cabinets has purchased an industrial building located within Matter Business Park @ Warm Springs in Las Vegas. Matter Business Park @ Warm Springs sold the asset for $2.1 million. Located at 7930 W. Warms Springs, Suite 170, the property features 12,878 square feet of industrial space. Dan Doherty, Paul Sweetland, Jerry Doty and Chris Lane of Colliers International represented the seller in the deal.
RENO, NEV. — Safeway has broken ground for a new grocery store at Damonte Ranch Town Center, located at the corner of Steamboat Parkway and Damonte Ranch Parkway in south Reno. The 62,000-square-foot store will be the grocery store chain’s third location in the Reno-Sparks market. Safeway will join RC Willey and The Home Depot as anchor tenants at the 509,000-square-foot shopping center, which Lewis Retail Centers owns. The retail center is part of the 2,000-acre Damonte Ranch master-planned community, which includes approximately 19,497 households within a three-mile radius of the shopping center.
LAS VEGAS — Brass Cap Development has completed the construction of SanTico, an industrial property located at the intersection of South Rainbow Boulevard and West Sunset Road in southwest Las Vegas. Situated on 2.5 acres, SanTico features 40,000 square feet of mid-bay industrial space that is divisible to two 20,000-square-foot buildings. Each building features two dock-high doors, one grade-level loading door, 24-foot clear heights, an ESFR fire suppression system, 277/480 volt, 800 amp and three-phase, as well as four wire service. LM Construction handled design, planning and construction of the property, which is located at 6825 W. Teco Ave.
NORTH LAS VEGAS, NEV. — CBRE has arranged the sale of RDN Mini Storage, a seven-building self-storage facility in North Las Vegas. California-based Watling Street acquired the asset from Nevada-based Piclane for $4.6 million. Located at 725 W. Washburn Road, the 36,520-square-foot property consists of 304 units with 24-hour video surveillance cameras. Nick Walker, Walter Brauer and Trevor Roberts of CBRE represented the seller in the deal.
NORTH LAS VEGAS, NEV. — Northcap Commercial has directed the sale of Pair-A-Dice Mobile Home Park, located at 2067 N. Las Vegas Blvd. in North Las Vegas. An undisclosed buyer acquired the community from Pair-A-Dice Mobile Estates LLC for $5.4 million, or $39,781 per unit. Situated in an opportunity zone, the community features 137 mobile home units. Devin Lee, Jerad Roberts, Robin Willett and Jason Dittenber of Northcap Commercial represented the seller in the deal.
HENDERSON, NEV. — Panattoni Development Co. has purchased 38.8 acres of undeveloped land, located at the southeast corner of Bermuda Road and St. Rose Parkway in the West Henderson submarket, for $25.5 million. Panattoni plans to construct a build-to-suit industrial asset on the property for an undisclosed tenant. The project is located within South 15 Airport Center, a 211-acre industrial complex. Dan Doherty, Paul Sweetland, Chris Lane and Jerry Doty of Colliers International’s Doherty Industrial Group represented Panattoni on the transaction. The name of the seller was not released.
