Monday, January 26, 2004
Copyright © Las Vegas Review-Journal
Construction gets under way
on Rainbow Sunset Pavilion
Project going up at Rainbow Boulevard at Interstate 215
By HUBBLE SMITH
REVIEW-JOURNAL
The three-building first phase of the Rainbow Sunset Pavilion is slated for completion this summer. Las Vegas-based Plise Development Cos. is building the $120 million mixed-use project.
COURTESY PLISE DEVELOPMENT COS.
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Las Vegas-based Plise Development Cos. has started construction on the $120 million Rainbow Sunset Pavilion, a 480,000-square-foot mixed-use office and retail project on Rainbow Boulevard at Interstate 215.
Plise leasing director Rhonda Panciro said the 23-acre office park in the growing southwestern Las Vegas Valley will provide 80,000 square feet of retail space and 400,000 square feet of office and medical space in five two- to four-story buildings.
The first phase of three buildings is scheduled for completion this summer.
Walker Engineering and Vedelago-Petsch Architects comprise the design team.
Distinguishing features include copper roofs, stone veneer accents, low-energy rated windows, decorative metal railings and painted metal canopies, principal architect Mark Petsch said.
LOG HOMES: They're time-honored and part of today's hottest housing trends.
The Log Home & Timber Frame Expo, taking place Friday through Sunday at Cashman Center ($12 admission), showcases energy-efficient designs and fine craftsmanship that have made log and timber-frame homes a popular segment of the custom home market.
Some 35,000 of them were built last year, said Roland Sweet, editor of Log Homes Illustrated and Timber Homes Illustrated magazines. Originally built by pioneer settlers, log homes have proliferated more recently in rustic mountain enclaves and ski resorts. Nine out of 10 log homes are now built as primary residences.
BIG YEAR: Commercial Associates, a Las Vegas real estate brokerage, reported $36 million in 58 transactions last year, garnering the firm its first $1 million grossing year.
Judi Woodyard, president of the company, said the record year is a result of continued strength in Southern Nevada's economy and the growth of local businesses.
Woodyard represents several large local commercial developments, including the St. Rose Professional Park at 2843 St. Rose Parkway, where she recently negotiated a 60-month lease for HRPV, a physical therapist office, valued at $423,000.
She also did a 10-year lease for Nevada College of Pharmacy last year and represented American Express, Prudential Securities, Prudential Insurance, Kelly Services and other national firms.
NEW MANAGER: Southern California-based Burnham Real Estate has entered the Las Vegas market by acquiring the rights to manage 1.4 million square feet of commercial property previously managed by Realty Holdings Group.
The assets are valued at more than $190 million. They include the Bank of America Plaza and other properties developed by Irwin Molasky such as Best of the West Shopping Center, which Molasky sold last year.
Burnham Senior Vice President David Jewkes will be the regional director for the Las Vegas office. Realty Holdings President Keith Bassett will join Burnham as a broker.
UNLV PROJECT: Henderson-based Rafael Construction was recently awarded a $3.2 million contract to build the second phase of the Central Desert Complex at University of Nevada, Las Vegas.
Rafael project manager Bob Mobley said the 21,500-square-foot building should be finished in time for the fall semester.
Modular construction is being used with on-site applied exterior finishes to provide much-needed office space at the university, he said.
BROKER DEALS: Al Kingham of Tower Realty Group represented both parties in the sale of the 64,500-square-foot Valence Technology building at 301 Conestoga Ave. in Henderson to Mars Partners for $2.75 million. The building sits on 15.6 acres ... Bill Dunbar and Lisa Callahan of CB Richard Ellis represented JLS Vegas in the purchase of 10 acres at Durango Drive and Warm Springs Road from Mother LLC for more than $5 million ... Keith Spencer of CB represented Thomas and Richard Arsulich in the sale of 2.2 acres at Horizon Ridge Drive and Annet Street to B&B Asset Management for $400,000.
