Nevada

Investment Group Acquires Sundance West Apartments in Reno for $23.4M

by Nellie Day August 7, 2015

RENO, NEV. — A privately held investment group has purchased the 350-unit Sundance West Apartments in Reno for $23.4 million. The community is located at 3285 Clover Way. Sundance West is situated near Washoe County Golf Course, Lakeridge Golf Course, Meadowood Mall, the Peppermill Resort Spa Casino and the Atlantis Casino Resort Spa. Kenneth Blomsterberg of Marcus & Millichap and Stanford Jones, Philip Saglimbeni and Salvatore Saglimbeni of Institutional Property Advisors represented both the buyer and the unnamed seller in this transaction.

August 7, 2015

Nevada Retail Western

Miller’s Ale House Restaurant in Las Vegas Sells for $5.2M

by Nellie Day August 4, 2015

LAS VEGAS — The 9,500-square-foot Miller’s Ale House Restaurant located in the Las Vegas submarket of Henderson was sold for $5.25 million. Miller’s Ale House has 14 years remaining on its triple-net lease. Rob Moore of Faris Lee represented the seller, Sunstone Arroyo LLC, and StreetView Realty represented the buyer, FL Grandland LLC.

August 4, 2015

Multifamily Nevada Western

Security Properties Acquires Verona Apartment Homes Near Las Vegas for $40M

by Nellie Day July 29, 2015

LAS VEGAS — Security Properties has purchased the 275-unit Verona Apartment Homes in the Las Vegas submarket of Henderson for $40 million. The community is located at 6765 Tulip Falls Drive. Security Properties-affiliate Madrona Ridge Residential will manage the Class A asset, which was built in 2007. Verona was purchased through Security’s Multifamily Fund II. It is the fund’s second purchase within the Las Vegas market.

July 29, 2015

Industrial Nevada Western

Premier Educational Facilities Buys Bonanza Road Industrial in Las Vegas for $5.3M

by Nellie Day July 22, 2015

LAS VEGAS — Premier Educational Facilities has acquired the Bonanza Road industrial building, a 68,848-square-foot warehouse in North Las Vegas, for $5.3 million. The warehouse is located at 4151 E. Bonanza Road. It was built in 1976. The buyer will occupy the entire facility, which will operate as Equipo Academy, a college preparatory charter school for middle and high school students. Justin Michaels of Cornerstone Company represented Premier in the transaction.

July 22, 2015

Industrial Nevada Western

Panattoni Breaks Ground on Reno Industrial Complex

by Nellie Day July 21, 2015

RENO, NEV. — Panattoni Development has broken ground on a 1.4-million-square-foot industrial park in Reno. The two-building project will be located on 96 acres at the intersection of Lemmon Valley Drive and Highway 395. It will be called North Valley Commerce Center. Phase I of the development will include a 707,660-square-foot building, the largest spec project to break ground in the region, according to the developer. Michael Nevis, J. Michael Hoeck, Dave Simonsen and Steve Kucera of the NAI Alliance Industrial Properties Group represented the unnamed seller. NAI will also serve as the project’s leasing agent.

July 21, 2015

Loans Nevada Retail Western

NorthMarq Arranges $16.8M Refinance of Trop Dec Plaza in Las Vegas

by Nellie Day July 17, 2015

LAS VEGAS — NorthMarq Capital has arranged the $16.85 million refinance of Trop Dec Plaza, a 74,824-square-foot retail property located on Tropicana Avenue in Las Vegas. The transaction was structured with a 10-year term, and has a 30-year amortization schedule. Scott Monroe of NorthMarq arranged financing for the borrower with a CMBS lender.

July 17, 2015

Industrial Nevada Western

Bi Nutraceutical Leases 140,000 SF Distribution Space Near Reno

by Nellie Day July 16, 2015

RENO, NEV. – Bi Nutraceutical has leased a 140,000-square-foot distribution space in the Reno submarket of McCarran. The space is located at 625 Waltham Way, within the Tahoe-Reno Industrial Center. Nutraceutical is the largest supplier of botanical ingredients in the U.S. The landlord, Global Logistic Properties, was represented by J. Michael Hoeck, Dave Simonsen, Steve Kucera and Michael Nevis of the NAI Alliance Industrial Properties Group.

July 16, 2015

Nevada Retail Western

Las Palmas Village in Las Vegas Sells for $23.4M

by Nellie Day July 14, 2015

LAS VEGAS – Las Palmas Village, a 109,838-square-foot retail center in Las Vegas, has sold to Citywest Investments Joint Venture for $23.4 million. The center is located at 415-535 E. Windmill Lane. It is anchored by Vons. The Australian-based real estate company was represented by Chris Emanuel and Jeff Mitchell of Virtus Commercial. The seller, Donahue Schriber Realty was represented by DTZ’s Michael Hackett and Ryan Schubert.

July 14, 2015

Nevada Retail Western

Cornerstone Capital Buys Crossroads Towne Center in North Las Vegas for $52M

by Nellie Day July 8, 2015

LAS VEGAS — Cornerstone Capital has purchased Crossroads Towne Center, a 148,791-square-foot shopping center in North Las Vegas, for $52 million. The center is located at 6436-6592 N. Decatur Blvd. Crossroads Towne Center is anchored by Super Walmart and Bed Bath & Beyond. Other notable tenants include Bank of America, Hallmark, Radio Shack, Payless, GNC, Starbucks and Baskin Robbins. The center was completed in 2007. It can be seen from the 215 Freeway. The seller, EagleCrossroads Center 2 LLC, was represented by Jeff Mitchell and Chris Emanuel of Virtus Commercial, and by DTZ’s Michael Hackett, Vic Russell and Ryan Schubert.

July 8, 2015

Nevada Retail Western

Dynamic Development Acquires Five-Acre Parcel on Las Vegas Boulevard

by Nellie Day July 8, 2015

LAS VEGAS — Dynamic Development has purchased a 5-acre parcel on Las Vegas Boulevard for $6.5 million. A 22,000-square-foot build-to-suit Total Wine & More will occupy the property, alongside an additional 30,000 square feet of retail space. Bill Dunbar and Houston Carr of Dunbar Commercial are in charge of leasing for the project.

July 8, 2015

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