Thursday, July 17, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Nevada

Mountains-Edge-Marketplace-Las-Vegas-NV.jpg
AcquisitionsNevadaRetailWestern

Remington Nevada Sells 115,037 SF Shopping Center in Las Vegas for $50.3M

by Amy Works

LAS VEGAS — Remington Nevada has completed the sale of Mountain’s Edge Marketplace, a neighborhood shopping center in Mountain’s Edge, a master-planned community in Las Vegas. An out-of-state investor acquired the asset for $50.3 million, or $37 per square foot. Roy Fritz and Preston Fetrow of CBRE’s National Retail Investment Partners-West represented the seller, a Las Vegas-based private investment firm. The purchase includes the assumption of a $33 million CMBS loan requiring the new borrower to engage a loan expeditor to facilitate the process. Situated on 14.7 acres at 7975 Blue Diamond Road, Mountain’s Edge Marketplace offers 115,037 square feet of retail space, which is 98 percent leased to 40 national and local retailers. Current tenants include Ross Dress for Less, Planet Fitness, Starbucks Coffee, Supercuts, The UPS Store, China A Go Go and T-Mobile. The property is shadow anchored by an Albertsons-occupied property, which was not included in the sale.

Continue Reading
FacebookTwitterLinkedinEmail
Nellis-Commerce-Center-North-Las-Vegas-NV
DevelopmentIndustrialNevadaWestern

Panattoni Development Completes 228,760 SF Nellis Commerce Center in North Las Vegas

by Amy Works

NORTH LAS VEGAS, NEV. — Panattoni Development Co. has completed Nellis Commerce Center in North Las Vegas. The 228,760-square-foot, Class A industrial building features 17 dock doors, 18 additional knock-out panels and 48 trailer parking stalls. The facility also features 36-foot clearance, ESFR fire sprinklers and the ability to accommodate up to two tenants with square footage divisible to approximately 105,700 square feet. Nellis Commerce Center is situated 12 miles from Harry Reid Airport, less than five miles from the I-15 interchange and seven miles from US Highway 95. Panattoni Development Co. developed Nellis Commerce Center, which is being marketed by Sean Zaher, Garrett Toft and Jake Higgins of CBRE.

Continue Reading
FacebookTwitterLinkedinEmail
Market ReportsNevadaOfficeSoutheast Market ReportsWestern

Vegas’ Office Market Balances Growth, Resilience Amid Challenges

by John Nelson

— By Patti Dillon, Executive Vice President, Colliers — Las Vegas’ office market is at a critical juncture as shifting dynamics could shape its future for years to come. New developments like the anticipated 30-acre studios development project in discussion with Howard Hughes Corporation present opportunities, though second-generation office space is expected to dominate over the next three to five years. This shift is driven by cost efficiency, evolving tenant demands and the higher expenses tied to new construction. Though new builds offer state-of-the-art facilities, the adaptability and affordability of second-generation spaces make them a practical solution for many businesses. Las Vegas continues to attract high-profile corporate tenants from out of state. These companies are drawn to flexible office spaces that feature modern technology and proximity to mixed-use developments that support the evolving hybrid work model. The increasing demand for live-work-play environments has placed a premium on mixed-use developments that combine residential, office and retail spaces. Despite ongoing demand, the market faces significant challenges. Investor confidence has been impacted by broader economic factors, including the U.S. elections, geopolitical tensions and inflationary pressures. Supply chain disruptions, rising construction costs and higher interest rates also create barriers for developers and limit financing options …

Continue Reading
FacebookTwitterLinkedinEmail
2635-Lamb-Blvd-North-Las-Vegas-NV
AcquisitionsIndustrialNevadaWestern

Avison Young Brokers $17.3M Sale of Industrial Building in North Las Vegas

by Amy Works

NORTH LAS VEGAS, NEV. — Avison Young has arranged the sale of Cartier Industrial Center, an industrial asset in North Las Vegas. A California-based private investor purchased the asset from a local development group for $17.3 million, or $232 per square foot. Located at 2635 Lamb Blvd., Cartier Industrial Center offers 74,700 square feet with eight dock-loading doors, two grade-level doors, a clear height of 30 feet and 81 parking spaces. The property was built in 2024. The single-tenant building is fully occupied by a beauty supply company. Chris Lexis, James Griffis and Joe Leavitt of Avison Young represented the buyer in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
Maryland-Park-Apts-Las-Vegas-NV
LoansMultifamilyNevadaWestern

MMCC Arranges $11.4M in Refinancing for Two Apartment Properties in Las Vegas

by Amy Works

LAS VEGAS — Marcus & Millichap Capital Corp. (MMCC) has arranged separate refinancing transactions totaling $11.4 million for two multifamily communities in Las Vegas. Michael Derk of MMCC secured the loans for the private clients. MMCC arranged a $6.2 million loan for the refinancing for Maryland Park, a 135-unit apartment property at 1101 Dumont Blvd. The community offers a pool, laundry facilities, a courtyard, grill and picnic area. A local credit union provided the 10-year loan, which includes a 6 percent interest rate with a 30-year amortization and a loan-to-value ratio of 50 percent, to the undisclosed borrower. The firm also arranged $5.2 million for the refinancing of Katie Court Apartments, a 107-unit community at 3890 S. Cambridge St. On-site amenities include a pool and laundry facilities. A local credit union provided the 10-year loan, which includes a 6 percent interest rate with a 30-year amortization and a loan-to-value ratio of 50 percent, to the undisclosed borrower.

Continue Reading
FacebookTwitterLinkedinEmail
6475-6485-W-Sunset-Rd-Las-Vegas-NV
AcquisitionsIndustrialNevadaWestern

Dalfen Industrial Sells Two-Building Sunset 215 West Industrial Portfolio in Southwest Las Vegas

by Amy Works

LAS VEGAS — Dalfen Industrial has completed the sale of Sunset 215 West, a two-building industrial portfolio in Southwest Las Vegas, to Southern California-based GF Properties for an undisclosed price. Located at 6475 and 6485 W. Sunset Road, the 80,000-square-foot property offers corporate office and industrial warehouse space. Michael Kendall, Gian Bruno, Kenny Patricia and Kylie Jones of Colliers’ West Industrial Capital Markets team marketed the portfolio and led the disposition and acquisition process. Dan Doherty, Paul Sweetland, Jerry Doty and Chris Lane of Colliers provided local market expertise. Completed in 2017, Building 1 (6475) is 35,000 square feet and fully leased to a single tenant, and Building 2 (6485) is 45,000 square feet and fully leased to two tenants. UFC, an organization that promotes mixed martial arts events, occupies approximately 70 percent of the project.

Continue Reading
FacebookTwitterLinkedinEmail
2880-Simmons-St-North-Las-Vegas-NV
AcquisitionsIndustrialNevadaWestern

Panattoni Development Completes 182,184 SF Simmons Airpark in North Las Vegas

by Amy Works

NORTH LAS VEGAS, NEV. — Panattoni Development Co. has completed Simmons Airpark at 2880 Simmons St. in North Las Vegas. The 182,184-square-foot industrial building features a clear height of 36 feet, full concrete drive aisles and truck court, rear loading configuration, 1,895 square feet of build-to-suit office areas, 50-foot by 52-foot column spacing and an ESFR sprinkler system. The four-tenant building is located adjacent to North Las Vegas Airport and is three miles to the Cheyenne Interchange. The project is listed with Larkin Industrial Group and is owned by Panattoni Development.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialNevadaWestern

Avison Young Negotiates $12.5M Sale of Edmond Russell Triangle Industrial Facility in Las Vegas

by Amy Works

LAS VEGAS — Avison Young has arranged the purchase of Edmond Russell Triangle, an industrial property in Las Vegas. A California-based private investor acquired the asset from a local development group for $12.5 million, or $249.50 per square foot, in an off-market transaction. Loomis U.S. fully occupies the 50,100-square-foot building, which is located at 5780 Edmond St. Chris Lexis, James Griffis and Joe Leavitt of Avison Young represented the buyer in the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
6260-W-Pebble-Rd-Las-Vegas-NV
AcquisitionsIndustrialNevadaWestern

Avison Young Brokers $10.3M Sale of El Camino Industrial Center in Las Vegas

by Amy Works

LAS VEGAS — Avison Young has negotiated the sale of El Camino Industrial Center, an industrial facility at 6260 W. Pebble Road in Las Vegas. A Las Vegas-based developer sold the asset to a California-based private investor for $10.3 million, or $290 per square foot. Built in 2023, the 35,446-square-foot El Camino Industrial Center features four dock doors, a clear height of 24 feet, two grade-level doors, ESFR sprinklers and a build-to-suit office. At the time of sale, the property was fully occupied. Chris Lexis and Joe Leavitt of Avison Young represented the seller, while James Griffis of Avison Young represented the buyer in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
IndustrialMarket ReportsNevadaWesternWestern Market Reports

Reno’s Industrial Market Is Positioned for Prosperity

by John Nelson

— By Shawn Jaenson, executive vice president, Kidder Mathews —  Reno’s industrial market has demonstrated remarkable resilience in the face of challenging economic conditions. Despite such uncertainties, the region has maintained a strong industrial presence, showcasing its ability to adapt and thrive. Overall, the market delivered more than 22 million square feet of new construction since the start of 2020 and has experienced more than 50 percent rent growth over the same period, rising from $0.55 (triple net) in fourth-quarter 2019 to $0.84 at mid-year 2024. As the nation grapples with inflation, supply chain disruptions and shifting consumer behaviors, Reno’s industrial sector has managed to effectively weather these challenges. The city’s strategic location and pro-business environment have positioned it as a critical logistics and distribution hub. These factors have allowed local businesses to remain competitive, even as national economic pressures mount. Sales activity has seen a recent uptick with four major sales occurring in the second quarter of this year. Prospect Ridge bought the four-building, 893,632-square-foot Airway Commerce Center from Tolles Development; CapRock bought a 707,010-square-foot building from Manulife; and Pure Development sold two buildings – one with 354,640 square feet and the other with 322,400 square feet – to Exeter …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts