Las Vegas-based Juliet Cos. has completed the 400,000-square-foot first phase of Blue Diamond Crossing at Blue Diamond Road and Valley View Boulevard and is pulling permits for the 120,000-square-foot second phase, Vice President of Development John Stewart said.
The shopping center is anchored by Target and Kohl's stores that opened in February. Other stores include Ross Dress for Less, Office Depot, Petco and Linens 'n Things. Bank of America and Wells Fargo branches are under construction.
Stewart said the 65-acre, 560,000-square-foot development will be worth about $140 million when completed.
"This was not an easy project to get out of the ground," Stewart said. "You see where we're situated, all the challenges with NDOT (the Nevada Department of Transportation). It took a lot of effort on the part of our tenants to look at this as a successful project once a lot of parts come together. If they asked me once, they asked me 10 times, 'How's NDOT coming on construction? How are the other buildings coming along?'"
The Nevada Department of Transportation is widening Blue Diamond Road to eight lanes to relieve traffic congestion.
Juliet secured a 50-year ground lease with Clark County Aviation Department in 2004 for both the retail site and the 110-acre, 1.5 million-square-foot Blue Diamond Business Center at Arville Street.
The company is also developing the 35-acre Deer Springs Crossing at Fifth Street and Deer Springs Way in North Las Vegas and broke ground last week on Lake Mead Crossing at the northwest corner of Lake Mead Parkway and Water Street in Henderson.
TOPPED OFF: Amland Development topped off construction of the second 20-story tower at One Las Vegas, a high-rise luxury condo project on Las Vegas Boulevard south of Blue Diamond Road. It comes less than five months after topping off the first tower.
J.E. Dunn is general contractor on the $150 million, 359-unit first phase. Residents are expected to move into tower one by the end of the year. Tower two is expected to be finished in early 2008.
The master plan for the 20-acre site calls for five towers ranging from 18 to 21 stories, including a boutique hotel, with seven acres of open space. Condos range from 830 square feet to 2,850 square feet and are priced from the $400,000s to more than $1.7 million.
HOSPITAL WORK: Clark & Sullivan is working on the $56 million northeast tower remodel and south wing expansion at University Medical Center. The 185,000-square-foot project is scheduled for completion in February 2008. The new tower will house 60 new private hospital beds and 30 more beds in the burn care center.
SUN CITY: Under its Del Webb brand, Pulte Homes has begun development of Sun City Mesquite, a 3,400-home community for residents 55 and older. Sales are expected to start in May or June and the first move-ins are anticipated late this year or early 2008. Pulte acquired 2,014 acres in Mesquite from a private seller last year. More than 800 acres are dedicated to Sun City Mesquite.
CONDOS CONVERTED: Core Construction has completed the $17.4 million condominium conversion of Monterey at Las Vegas Country Club, formerly known as Village Green Apartments.
Work consisted of stripping existing interiors of the 550 studio, one- and two-bedroom units down to the drywall and refurbishing the units with new flooring, paint, granite countertops, new millwork, plumbing and lighting fixtures, appliances, doors and heating and air conditioning units.
TRANSACTIONS: Kevin Higgins, Garrett Toft and Steven Paravia of Voit Commercial represented Terra Grandis in the lease of three industrial suites at 4301 S. Valley View Blvd. to Lounge 22. The 24-month lease of 27,000 square feet is valued at $234,812.