Nevada

LogistiCenter at Cheyenne in Las Vegas Achieves Full Capacity

by Nellie Day February 10, 2016

LAS VEGAS — LogistiCenter at Cheyenne, a 381,804-square-foot distribution facility in North Las Vegas, has achieved full occupancy. The facility is located at 4025 E. Cheyenne Ave. Priority Wire & Cable leased the remaining 223,000 square feet. The supplier of wire and cable for wholesale distributors will use the space for distribution. Priority will relocate from a 180,000-square-foot distribution center in Las Vegas to the new facility this May. A joint venture between Dermody Properties and Hillwood Investment Properties developed LogistiCenter at Cheyenne. Susan Borst and Dan Doherty of Colliers International represented the JV in the lease transaction.

February 10, 2016

Industrial Nevada Western

Frito Lay Expands Distribution Center in Las Vegas

by Nellie Day February 9, 2016

LAS VEGAS — Frito Lay is expanding its distribution center in Las Vegas. The center is located at 1209 Trade Drive in North Las Vegas. The company will expand the facility by about 30,000 square feet. The project will take place directly adjacent to an active warehouse. Construction is scheduled for completion this May. William E Franz designed the project. Burke Construction Group will manage the construction, which Burke Construction Group will perform. Con-Real owns the facility.

February 9, 2016

Hospitality Nevada Western

Best Western Plus Hotel in North Las Vegas Sells for $6.2M

by Nellie Day February 5, 2016

NORTH LAS VEGAS — An unnamed buyer has purchased a 74-room Best Western Plus in North Las Vegas for $6.2 million. The hotel is located at 4540 Donavan Way. It was built in 2000. Aseem Tandon of Marcus & Millichap’s Ontario office represented the seller, a limited liability company, in this transaction.

February 5, 2016

Hospitality Nevada Western

The Siegel Group Nevada Buys Former Rodeway Inn Convention Center Hotel in Las Vegas for $6.1M

by Nellie Day January 27, 2016

LAS VEGAS — The Siegel Group Nevada has purchased the former 102-room Rodeway Inn Convention Center hotel in Las Vegas for $6.1 million. The hotel is situated on Convention Center Drive, half a block from Las Vegas Boulevard and the Las Vegas Convention Center. The property will be converted into a Siegel Suites Select extended-stay brand.

January 27, 2016

Industrial Nevada Western

Sahara Mini Storage in Las Vegas Sells for $3.4M

by Nellie Day January 12, 2016

LAS VEGAS — A limited liability company has purchased Sahara Mini Storage, a 52,672-square-foot self-storage facility in Las Vegas, for $3.4 million. The facility is located at 8140 West Sahara Ave. It was about 62 percent occupied at the time of sale. The seller, a personal trust, plans to donate all proceeds of the sale to charity. Cameron Glinton and Christopher R. Secreto of Marcus & Millichap represented both the buyer and seller in this transaction.

January 12, 2016

Nevada Retail Western

Sterling Organization Acquires Las Vegas Shopping Center for $20M

by Nellie Day December 22, 2015

LAS VEGAS — Sterling Organization has acquired Smith’s Shopping Center, a 108,731-square-foot, grocery-anchored retail plaza in Las Vegas, for $20 million. The asset was acquired from a subsidiary of Kirkorian Enterprises via Sterling Organization’s institutional stabilized fund Sterling United Properties I LP. The center is fully occupied by tenants including Subway, The UPS Store, Verizon and H&R Block.

December 22, 2015

Multifamily Nevada Western

ConAm Group Buys Two Multifamily Properties in Vegas, Phoenix

by Nellie Day December 16, 2015

LAS VEGAS AND PHOENIX — The ConAm Group has purchased two multifamily assets in Las Vegas and Phoenix. The acquisitions include the 200-unit Silver Shadow in Las Vegas, and The Greens, a 324-unit community in the Phoenix submarket of Chandler. The Las Vegas property sold for $22.6 million. The Phoenix purchase price was not disclosed. Glenn Dulaine at Realty Executives of Nevada represented ConAm and the seller, Bridge Investment Group Partners, in the Las Vegas transaction. ConAm plans to implement a series of interior and exterior upgrades to that property.

December 16, 2015

Nevada Office Western

ProEquity, CRG Buy Office Building in Reno for $12.4M

by Nellie Day December 10, 2015

RENO, NEV. — A joint venture between ProEquity Realty Partners and CRG LLC has acquired a 76,800-square-foot-office building in Reno for $12.4 million. The building is located at 885 Trademark Drive and is fully leased by Mitel Communications. The JV plans to reposition the property. Morrissey Realty represented the seller, Dermondy Property Investments, in this transaction.

December 10, 2015

Nevada Retail Western

GK Development Inc. Acquires Lake Mead Crossing for $42.75M

by Nellie Day December 2, 2015

HENDERSON, NEV. — GK Development Inc. has acquired Lake Mead Crossing, a 407,000-square-foot shopping center located in Henderson, for $42.8 million. The center is approximately 85 percent leased to tenants including Target, Ross Dress for Less, Big Lots, PetSmart, Marshalls, Ulta Beauty and Staples. Las Vegas-based Juliet Realty LLC will manage and lease the shopping center. Eastdil Secured represented the seller, Lake Mead Crossing LLC, in the transaction. Nevada State Bank and Wintrust Community Bank provided financing.

December 2, 2015

Nevada Retail Western

Conn’s Opens 100th Store in Las Vegas

by Nellie Day November 17, 2015

NORTH LAS VEGAS, NEV. — Conn’s Inc., a Houston-based furniture and specialty home goods retailer, has opened its 100th store. The new, 52,000-square-foot centennial Conn’s HomePlus store is located in North Las Vegas. The company is on schedule to open between 15 and 18 stores in its current fiscal year, which ends on Jan. 31. Conn’s plans to open as many as 25 stores in its 2017 fiscal year. Conn’s is a furniture and specialty retailer currently operating 100 retail locations in 12 states: Arizona, Colorado, Georgia, Louisiana, Mississippi, Nevada, New Mexico, North Carolina, Oklahoma, South Carolina, Tennessee and Texas.

November 17, 2015

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