LAS VEGAS – Flip N Tag has leased 41,500 square feet at The Mall at Grand Canyon in Las Vegas. The family fun center will be located at 4245 S. Grand Canyon Drive. The 120-month lease is valued at $3.3 million. The landlord, E-Grand Ventures LLC, was represented by Nelson Tressler and Michael Zobrist of Newmark Grubb Knight Frank.
RENO, NEV. – Moldman Systems has leased 35,100 square feet of distribution space at Reno Aircenter. The space is located at 4649 Aircenter Circle in Reno. Moldman is a low-pressure injection molding machine developer and distributor. The landlord, IndCor Properties, was represented by J. Michael Hoeck, Dave Simonsen, Michael Nevis and Steve Kucera of The NAI Alliance Industrial Properties Group.
SPARKS, NEV. – The Villagio Apartments, a 40-unit multifamily property in Sparks, has sold to an unnamed buyer for $2.8 million. The community is located at 1850-1852 Merchant Street. It was built in 1979 and is fully occupied. The seller, a limited liability company, was represented by Kenneth N. Blomsterberg and Ryan Rife of Marcus & Millichap’s Reno office.
LAS VEGAS – Craig Valley Plaza, a 73,455-square-foot retail center in Las Vegas, has sold to Marker Craig LLC for $8.2 million. The plaza is located at 4180-4280 W. Craig Road. Jeff Chain of Millennium Commercial Properties represented the buyer. The seller, Omninet Craig LLC, was represented by CBRE’s Charles Moore, Marlene Fujita Winkel and Ashley Kolaczynski.
LAS VEGAS — Global Industrial Distribution (GID) has leased a 464,203-square-foot speculative industrial building in the Prologis Las Vegas Corporate Center. The building is located at 3700 Bay Lake Trail in North Las Vegas. This is the largest industrial spec building to be leased in Las Vegas in the past eight years, according to Cushman & Wakefield | Commerce, which represented GID in this transaction. GID distributes electronics, office supplies and other equipment. The Prologis Corporate Center is expected to be delivered in the second quarter of this year. GID is scheduled to occupy the building this July. The distributor was represented by C&W’s Danielle Steffen, Art Farmanali and Amy Ogden.
RENO, NEV. – Light in the Box (LITB) has leased 26,000 square feet of distribution space at the Capital Commerce Center in Reno. The space is located at 4970 Joule Street. LITB is a global online retail company. The unnamed landlord was represented by Steve Kucera, Michael Nevis, J. Michael Hoeck and Dave Simonsen of the NAI Alliance Industrial Properties Group.
RENO, NEV. – The leasehold interest on Brookside Corporate Center, a 261,141-square-foot industrial center in Reno, has sold to Libitzky Property Companies for $15.8 million. The Class A center sits adjacent to Reno-Tahoe International Airport. The three-building center is on a ground lease owned by the airport. HFF’s Steve Golubchik, John Simerlein and Josh DiSalle represented the seller.
LAS VEGAS — A partnership between Cambridge Companies and Diamond Rock Partners has announced plans to build a 1-million-square-foot industrial project in Las Vegas. The project will be constructed on about 50 acres of land in North Las Vegas. It will target end-users seeking larger facilities. Cambridge Companies has developed projects and invested in land in Las Vegas for more than 20 years. Diamond Rock Partners LLC is a privately held real estate owner and investment company that advises and invests alongside high-net-worth and institutional clients in a broad range of commercial and residential real estate, including property acquisitions, development, construction and repositioning.
SPARKS, NEV. – Monsoon Pacific has expanded at the Spice Islands Industrial Center in Sparks. The company has absorbed an additional 20,400 square feet at the center, which is located at 945 Spice Island Drive, just east of Reno. Michael Nevis, Dave Simonsen, J. Michael Hoeck and Steve Kucera of the NAI Alliance Industrial Properties Group represented both the tenant and unnamed landlord in this transaction.
HENDERSON, NEV. — Envoy Net Lease Partners LLC has closed a $4.5 million loan for a new Goodwill of Southern Nevada store, the first to be funded under a multi-property construction facility. The first project, a 16,000-square-foot freestanding retail store in Henderson, will be situated across the street from the Nevada DMV and a Walmart Neighborhood Market anchored-shopping center. Envoy worked in tandem with its senior bank partner to provide the subordinated “B-piece” financing that allowed the developer borrower, Brentwood Capital Partners, to fund the construction of the Henderson store.