LAS VEGAS — Colliers International has arranged the sale of an industrial building located at 6676 Escondido St. in Las Vegas. Green Bean Battery acquired the property for $1.3 million. The asset features 6,059 square feet of industrial space. Brian Riffel and Tyler Jones of Colliers International represented the seller, Escondido Investments, in the transaction.
NORTH LAS VEGAS, NEV. — Panattoni Development has completed North 15 Logistics, a 550,601-square-foot industrial project on 30 acres at the intersection of Interstate 15 and Speedway Boulevard in North Las Vegas. North 15 Logistics features two buildings with up to 36-foot clear heights, ESFR sprinkler systems, R-30 roof batt insulation and concrete truck courts. The tenant improvements are now complete, and Ruby Has occupies 373,363 square feet at the project. With six warehouse locations across the United States and Canada, Ruby Has offers third-party logistics using technology and integration to allow for faster shipping and a reduction in freight costs. A comingled fund managed by Clarion Partners owns the project, with Panattoni Development serving as developer. Alston Construction served as contractor and HPA Architecture served as architect.
LAS VEGAS — Cincinnati-based Phillips Edison & Co. has completed the sale of Sunrise Marketplace, a wholly owned neighborhood shopping center in Las Vegas. A Los Angeles-based private investment firm purchased the property for an undisclosed amount to complete a 1031 exchange. Situated on 15.1 acres at the southeast corner of NE Nellis Boulevard and Steward Avenue, Sunrise Marketplace features 191,345 square feet of retail space. At the time of sale, the property was 99 percent leased to Smith’s Food & Drug Store, Chase, Dotty’s, Applebee’s Neighborhood Grill & Bar, Wingstop, Verizon, Southwest Medical and Southern Nevada Health District. The shopping center was built in 1988 and renovated in 2006. Preston Fetrow of CBRE, along with the firm’s National Retail Partners-West team, represented the seller, while the buyer was represented by a cooperating broker.
BELLEVUE, WASH. AND BOSTON — Aegis Living, a seniors housing owner and operator based in Bellevue, has acquired 10 properties from Healthpeak Properties Inc. (NYSE: PEAK). Aegis already operated the communities under a lease agreement with Healthpeak Properties, a Denver-based real estate investment trust (REIT). Aegis’ joint venture partner on the $350 million acquisition is Blue Moon Capital Partners LP, a Boston-based private equity investor in the seniors housing sector. The portfolio is located in Washington, California and Nevada, totaling 702 units of assisted living and memory care. The acquired communities include: • Aegis Living Callahan House (Shoreline, Wash.) • Aegis Living Shoreline (Shoreline, Wash.) • Aegis Living Kirkland (Kirkland, Wash.) • Aegis Living Las Vegas (Las Vegas) • Aegis Living Dana Point (Dana Point, Calif.) • Aegis Gardens Fremont (Fremont, Calif.) • Aegis Living Granada Hills (Granada Hills, Calif.) • Aegis Living San Francisco (San Francisco) • Aegis Living Pleasant Hill (Pleasant Hill, Calif.) • Aegis Living Ventura (Ventura, Calif.) The transaction is the largest in Aegis’ history. The acquisition is the next step in the company’s growth strategy, which includes doubling its ownership portfolio by 2030, according to Aegis’ founder and CEO Dwayne Clark. “At a time when …
LOS ANGELES — CBRE Capital Markets’ Debt & Structured Finance team has arranged $69 million for the recapitalization of a four-property industrial portfolio totaling 991,634 square feet across the southwestern United States. Shaun Moothart, Bruce Francis, Jennifer Ansari, Dana Summers, Bob Ybarra and Doug Birrell of CBRE secured the 20-year, 2.13 percent loan on behalf of the borrower, Moulton Co., a family-owned and operated private equity asset management firm based in Southern California. The portfolio consists of four core industrial assets: Harbor Gateway, located at 20100 S. Western Ave. in Torrance, Calif. Longley Commerce Center at 6550 Longley Lane in Reno, Nev. The Landing at PMG, located at 7613-7753 E. Ray Road in Mesa, Ariz. Northgate Distribution Center at 4800 E. Tropical Parkway in Las Vegas At the time of sale, all four facilities were fully leased.
RENO, NEV. — GPR Ventures has acquired an industrial warehouse property located at 4910 Longley Lane in Reno. Details of the transaction were not released. The purchase is GPR’s first acquisition in the Reno market. Situated near Reno-Tahoe International Airport, the 331,632-square-foot facility features dedicated office space; 21 dock-high doors, with potential for 16 more; two grade-level doors illuminated with T5 high-output fluorescent lamps for increased visibility; and new roofing that represented a $1.5 million investment. At the time of acquisition, the property was 80 percent occupied by two tenants: Hamilton Co., a global manufacturer of precision measurement devices, and Powertrain Industries, which offers a line of unique products used by mechanics to repair vehicle driveshafts.
RENO, NEV. — Panattoni Development, serving as developer, has completed northern Nevada’s first Amazon last-mile facility, located at the intersection of Virginia Street and Stead Boulevard in Reno. Constructed in five months, the 145,602-square-foot building will enable Amazon to be fully operational for the holiday season. A last-mile facility serves as the final distribution hub prior to delivery to end-users, enabling shipments to be delivered as quickly as possible. The project team included Alston Construction, Architects Orange and Odyssey Engineering Inc.
LAS VEGAS — Brass Cap Development is nearing completion on Brass Diablo, a $5 million industrial complex in Las Vegas. LM Construction as design-build contractor utilized the Tilt Insulating Panel System, which enables crews to lift warehouse walls in one day during the building’s construction. Located at the southwest corner of Diablo Drive and Edmond Street, the facility features 25,000 square feet of industrial space, with 10,000 square feet remaining for lease. Bleu Blanc Rouge, a Las Vegas-based caterer, has leased 15,000 square feet of space at the property. Paul Sweetland, Dan Doherty, Chris Lane and Jerry Doty of Colliers International are handling leasing for the remaining available space.
NORTH LAS VEGAS, NEV. — Whitebox, a manufacturer and e-commerce marketplace and fulfillment partner for DTC brands, has expanded its lease at Golden Triangle Logistics Center in North Las Vegas. The company now occupies 350,528 square feet at the facility, located at 3049 E. Washburn Road. Baltimore-based Whitebox’s North Las Vegas facility consists of a freestanding building, which is part of Phase I of the Golden Triangle Logistics Center. Golden Triangle Industrial Park LLC is the developer of the project. Whitebox’s expansion in the Las Vegas area is reflective of the company’s growth in Southern Nevada. Revenue for Whitebox in first-quarter 2020 increased 40 percent compared to the same period in 2019 and its revenue increased another 78 percent from first-quarter 2020 to second-quarter 2020. Additionally, the company reports that its direct-to-consumer shipments soared to more than 300 percent over the first half of 2020 and had 141 percent growth year-over-year from 2018 to 2019. Golden Triangle Logistics Center is a 2.2 million-square-foot logistics/distribution project being developed on a speculative basis. Phase I will include two buildings comprising approximately 652,000 square feet with delivery slated for third-quarter 2020.
HENDERSON, NEV. — Brass Cap Development has broken ground on Executive Airport Crossing, an industrial project located on Raiders Way and Dale Street in West Henderson. Totaling 70,000 square feet, Executive Airport Crossing will consist of two freestanding buildings that can be divisible from 14,446 square feet to 40,000 square feet. Both buildings include dock- and grade-level loading areas. Executive Airport Crossing received more than $5 million in investment funding in eight minutes on CrowdStreet, a real estate investing platform that gives investors direct access to individual commercial real estate investment opportunities. This is the first Brass Cap Development project funded through CrowdStreet. Las Vegas-based LM Construction Co. is serving as design-build general contractor for Executive Airport Crossing, which is slated for completion in June 2021. Paul Sweetland and Jerry Doty of Colliers International | Las Vegas will handle sales for the project.