Metreon Las Vegas phase to be complete by June
The first phase of the $33 million Metreon Las Vegas mixed-use project is scheduled for completion in June, developer Mike Kennedy of Kennedy Commercial said.
The project under construction at Flamingo Road and the Las Vegas Beltway will have 110,000 square feet of upscale shops, restaurants and office space built between twin five-story residential towers. Breslin Builders, which built SoHo Lofts and Newport Lofts in downtown Las Vegas, is the general contractor.
Like Juhl downtown, Metreon will have 14 live-work units in which owners live directly above their offices, workshops or retail businesses. Floor plans range from 1,800 square feet to 3,000 square feet with prices starting under $500 a square foot. The first units will be delivered in June.
Metreon just added Partell Medical Pharmacy as its latest tenant. Partell has served Las Vegas for 15 years and the new location will expand its customer base in southwest Las Vegas Valley. Other tenants include Einstein Bros. Bagels, My Gym, FedEx Kinko's and Sammy's Woodfired Pizza.
"The big difference is this has always been a great commercial site, before it was a residential site," Kennedy said. "If you look at mixed use, there's not a shortage of residential units. It's a shortage of commercial tenants."
Kennedy Commercial also plans to develop 200-acre Solstice Mesquite with a mix of residences, retail and restaurants, boutique hotel, hotel-casino and medical wellness center.
TOPPED OFF: J.A. Tiberti Construction reached the milestone "topping off" of a 25-story tower at South Point on Las Vegas Boulevard at Silverado Ranch Parkway. The $95 million project adds 800 guest rooms and 10,000 square feet of conference space to South Point, bringing the total to 2,150 rooms and 160,000 square feet of meeting and convention space.
Also, Plise Development and Construction topped off an eight-story office building at Rainbow Sunset Pavilion, a 25-acre, $140 million mixed-use retail and office center at Rainbow Boulevard and Sunset Road.
NAIOP AWARDS: The Southern Nevada chapter of National Association of Industrial and Office Properties named the six-story Pavilion on west Charleston Boulevard as Office Building of the Year and the 53,000-square-foot Equipment Management Technology Center at 1545 Pama Lane as Industrial Building of the Year at its recent Spotlight Awards ceremony. The developers were Charleston Pavilion LLC and Longo Properties, respectively.
OFFICE FINISHED: SR Construction finished the shell building and tenant improvements for Poggemeyer Design Group's corporate headquarters at 6960 Smoke Ranch Road. Construction costs for the two-story, 18,000-square-foot building were about $3 million. Dekker Perich Sabatini served as the architect on the project.
SR Construction also completed construction of the neonatal intensive-care unit at St. Rose Dominican Hospital Siena campus in Henderson. Estimated construction cost for the 5,000-square-foot project was $2 million. HMC served as the architect of record.
WAL-MART OPEN: Wal-Mart Supercenter has opened at Arroyo Market Square, a $300 million joint venture between EJM Development and Laurich Properties at Rainbow Boulevard and the Las Vegas Beltway in the southwestern Las Vegas Valley.
Construction financing for the 1 million-square-foot retail development is provided by Bank of America and Nevada State Bank. John Hancock Life Insurance Co. will make the permanent loan, Laurich Chairman Hank Gordon said.
EJM was named Trendsetter Firm of the Year at the NAIOP Spotlight Awards. Arroyo Market Square is part of EJM's 450-acre The Arroyo mixed-use development.
TARGET COMING: Houston-based Weingarten Realty sold 11 acres to Target to develop a new store at Decatur Boulevard and the Las Vegas Beltway in North Las Vegas. Construction of the 132,000-square-foot anchor store is scheduled to begin this summer with completion in late summer 2009.
HARSCH ACQUISITION: Portland, Ore.-based Harsch Investment Properties purchased the 130,000-square-foot Trident Industrial Park at 2915 Losee Road in North Las Vegas for $16.2 million, bringing the private company's Las Vegas portfolio to 7.6 million square feet.
The park is 97 percent leased by tenants 3D International, CSC Applied Technologies, Corona Furniture, Thatchercraft Cabinets and Century Theaters.
Contact reporter Hubble Smith at hsmith@reviewjournal.com or (702) 383-0491.
MILLION-DOLLAR HOME SALES
Luxury Homes of Las Vegas reported the following million-dollar home sales last week:
$1.85 million, 5 bedroom, 5.5 bath, 4,815 square feet, cul-de-sac corner lot, guard-gated Willow Falls, landscaping, wine cellar, Summerlin.
$1.55 million, 5 bedroom, 5.5 bath, 5,268 square feet, golf and mountain views, gourmet kitchen, marble floors, interior stacked stone, casita, Red Rock Country Club.
$2.4 million, 4 bedroom, 5.5 bath, 5,561 square feet, courtyard entry with pool, spa and barbecue pit, swim-up eating area, casita, media room, furnished, Anthem Country Club.
