RENO, NEV. — The Wolff Company has announced plans for Revel Damonte Ranch, a 156-unit independent living community in Reno. The project will be located within the Damonte Ranch mixed-use community. It will be Arizona-based Wolff’s second community in Reno. Wolff plans to open Revel Damonte Ranch in 2020.
LAS VEGAS — RealComm Advisors Commercial Real Estate has brokered the acquisition of an industrial property located at 6435 Karms Park Court in Las Vegas. McBeath Holdings LLC purchased the property from an undisclosed seller for $1.7 million. The property features 13,354 square feet of industrial space. Mike De Lew and Greg Pancirov of RealComm Advisors represented the buyer in the transaction.
LAS VEGAS — DC Building Group, a Las Vegas-based general contractor, has completed a new Taco Bell location on East Charleston Boulevard in Las Vegas, marking the first Taco Bell in downtown Las Vegas. Architect Gary Guy Wilson designed the project. The project is the second of this particular design prototype in the Las Vegas area. DC Building Group used rusted metal on the corner sign façade and horizontal silver aluminum on the slat wall for its metal aesthetics. The wall has back-lit LEDs to illuminate purple EIFS creating a branded purple glow at night. Founded in 2001, DC Building Group is a general contracting firm with a focus on the Western U.S.
RENO, NEV. — Dermody Properties has started construction of LogistiCenter at 395 Phase II in the North Valleys of Reno. The building will add 436,368 square feet, bringing the total square footage of LogistiCenter at 395 Phase II to more than 1.1 million square feet. The project is slated for completion this September. The 130-acre, master-planned industrial business park will then be home to three buildings totaling more than 1.6 million square feet. The new building will feature a 36-foot clear height and parking, including 378 car stalls and 203 trailer stalls. The entire building is available for lease. Eric Bennett and Gordon Zack of CBRE are marketing the property. United Construction is the general contractor on the project. PCCP LLC is Dermody Properties’ strategic capital partner on the industrial park.
LAS VEGAS — NS8 has leased 12,890 square feet of office space at the Holsum Design Center (Lofts) in downtown Las Vegas. The online abuse, fraud and user experience protection platform will be the anchor tenant at the 46,000-square-foot center, which was formerly a bread factory. NS8 took occupancy of the space on March 1. The center is located at 241 W. Charleston Blvd. LaPour redeveloped the site in 2004. In addition to NS8, the building is home to architects, designers, real estate firms and financial firms, as well as other professional and creative users. Holsum is also home to Lola’s, A Louisiana Kitchen restaurant.
LAS VEGAS — Dunkin’ Donuts’ has opened two restaurants in the Hard Rock Hotel & Casino in Las Vegas and Biloxi, Miss. Further expanding the Dunkin’ Donuts footprint within rest stops and travel centers, the brand’s franchisees opened a total of 12 travel center restaurants around the country. The company also significantly increased its partnership with Pilot Flying J Travel Centers in 2017, accounting for five of the total 12 locations open throughout the year, with a commitment for an additional 20 in 2018. These new locations expanded the brand’s portfolio to include full-service restaurants, as well as additional self-serve locations. A Dunkin’ Donuts franchisee opened its first non-traditional location at the University of Hawaii in October. Eight restaurants on college and university campuses opened during 2017, including George Mason University in Fairfax, Va.; Binghamton University in Binghamton, N.Y.; and the second restaurant to open in the Air Force Academy in Colorado Springs, Colo .
LAS VEGAS — Vestar has acquired Best in the West, a 465,000-square-foot shopping center in Las Vegas. The price was $87 million, according to The Las Vegas Review-Journal. Bryan Ley and Jules Sherwood of HFF arranged the transaction on behalf of the seller, Weingarten Realty Investors. At the time of sale, Best in the West was 94 percent leased to tenants such as Best Buy, T.J Maxx, Stein Mart, PetSmart, DSW, Bed Bath & Beyond, JoAnn Fabrics, Office Depot, Ulta Beauty, Old Navy and Marshalls.
HENDERSON, NEV. — Cypress West Partners has acquired Parkway Medical Plaza, an 88,958-square-foot medical office building in the Las Vegas submarket of Henderson for an undisclosed sum. The building is located at 100 N. Green Valley Parkway. Parkway Medical Plaza is 95 percent occupied with tenants including Healthcare Partners, Parkway Surgery Center and CareMore. It was built in 1997. The firm acquired the asset with Virtus Real Estate Capital. This marks the first joint venture for the two firms.
NORTH LAS VEGAS — Panattoni Development Co. has purchased a 10.4-acre parcel in North Las Vegas where it plans to build Centennial Corporate Park, a 204,000-square-foot industrial warehouse facility. The land purchase price was not disclosed, but the development is valued at $16 million, according to Panattoni. Centennial Corporate Park will feature cross-dock ware space with 32-foot clear height, ESFR sprinklers, LED warehouse lighting and flexible office build-outs. Construction is expected to begin this April, for completion in December 2018. Centennial Corporate Park is owned by Speedway 10 Industrial LLC, a joint venture between LaSalle Investment Management and Panattoni Development. The general contractor is Alston Construction. The streets are fully improved and offsite work is already completed, which will help crews to meet the aggressive construction schedule. Greg Tassi and Donna Alderson of CBRE will list the available space.
RENO, NEV. — An affiliate of Sandpiper LLC has acquired the 117-room Courtyard by Marriott in Reno for an undisclosed sum. The hotel is located at 6855 S. Virginia St. The LLC plans an extensive renovation, which will start this fall. It will include upgrades to the exterior façade, guestrooms, lobby and bistro. Sandpiper was attracted to the hotel’s in-place cash flow and location. Teague Hunter, Danny Givertz and Trey Scott of Hunter Hotel Advisors executed the transaction.