Townhome Villas sells for $8 million

Deal Watch

Townhome Villas sells for $8 million

▶ The Sauter Multifamily Group of NAI Vegas recently marketed and sold a community of attached homes near The Boulevard for $8 million.

The team represented H&B One LLC in its sale of Townhome Villas, a 173-unit complex at 1000-1100 Dumont Blvd. Las Vegas Residential Properties LLC bought the community, which sold for $46,330 per unit. The project was 60 percent occupied at the time of sale.

Other sales

▶ Panattoni Development Co. purchased nearly 30 acres of land at the corner of Lake Mead Parkway and U.S. Highway 95 in a deal valued at $6.2 million. Pat Marsh and Sam Newman of Colliers International represented the buyer.

▶ The NAI Vegas team of Eric Larkin and Mark Musser represented Jarretts Children’s Trust in its $1.55 million sale of the 15,210-square-foot New Vista Plaza at 2001 S. Rainbow Blvd. The team also worked with the buyer, Troy Kearns Limited, LLC, in the purchase of the retail complex.

▶ Suzette LaGrange of Colliers International represented JER2911 Partners LLC in its $1.15 million purchase of an 8,200-square-foot office property at 101 E. Warm Springs Road.

▶ Vince Schettler of Colliers International worked with Investor Equity Homes LLC on its $700,000 sale of five acres of land at 8220 W. Wigwam Ave. The buyer was Commercial Investment Advisors.

Significant leases

▶ Universal Carpet Care leased 15,420 square feet of industrial space at 3542 Sirius Ave. Eric Molfetta represented tenant in the $454,322 deal. Dean Willmore of Colliers International represented landlord Jonathan Park LLC.

▶ Updike Distribution Logistics leased the 55,125-square-foot industrial property at 3030 N. Lamb Blvd., Suites 103 and 104, in North Las Vegas. Dean Willmore of Colliers International represented both the lessee and the lessor, Natomas Creek Nevada LLC.

Shaker Motors LLC leased the 4,500-square-foot retail property at 4110 W. Desert Inn Road in Las Vegas. The transaction value was $208,578. Tom Naseef and Jeff Naseef of Colliers International represented the lessee.

▶ GEXPRO leased the 8,959-square-foot industrial property at 5275 S. Arville St., Suite 328, in Las Vegas. Dean Willmore, Mike DeLew and Greg Pancirov of Colliers International represented the lessor, FJM Vegas Holdings LLC.

▶ American Building Systems LLC leased the 3,975-square-foot industrial property at 126 Cassia Way, Suite 100, in Henderson. The transaction value was $108,592. Mike DeLew and Greg Pancirov of Colliers International represented the lessor, AISSAC LLC.

▶ Findlay Digulio LLC leased the 2,490-square-foot industrial property at 7705 Commercial Way, Suite 100, in Henderson. Mike DeLew and Greg Pancirov of Colliers International represented the lessor, VFC, III.

Deal watch is designed as a weekly summary of significant commercial real estate sale and lease transactions. To have your deal included, email deal summaries to The deadline is noon Monday.

Bellagio, MGM Resorts International’s luxury hotel turns 20
The more than 3,000-room Bellagio hotel is situated on the site of the former Dunes Hotel. The Dunes was imploded in 1993, and construction of the Bellagio started in 1996. It cost $1.6 billion to build, making it the most expensive hotel in the world at the time. The Bellagio was former Wynn Resorts Ltd. Chairman and CEO Steve Wynn’s second major casino on the Strip after The Mirage. MGM Resorts International acquired the property from Steve Wynn in 2000. (Tara Mack/Las Vegas Review-Journal)
Facial recognition software at G2E – Todd Prince
Shing Tao, CEO of Las Vegas-based Remark Holdings, talks about his facial recognition product. (Todd Prince/Las Vegas Review-Journal)
Former NBA player, Shaquille O'Neal, speaks about his new Las Vegas chicken restaurant
Former NBA player, Shaquille O'Neal, speaks about his new Las Vegas chicken restaurant. Bizuayehu Tesfaye/Las Vegas Review-Journal @bizutesfaye
Bobby Baldwin to leave MGM
MGM Resorts International executive and professional poker player Bobby Baldwin is set to leave MGM.
Caesars has new armed emergency response teams
Caesars Entertainment Corp. has created armed emergency response teams. They are composed of former military and law enforcement officials. "These teams provide valuable additional security capabilities,” Caesars spokeswoman Jennifer Forkish said. Caesars is hiring Security Saturation Team supervisors, managers and officers, according to LinkedIn. The company did not say how many people it plans to hire for the units. (Las Vegas Review-Journal)
Las Vegas, airlines prepare for CES
CES in January is expected to attract more than 180,000 attendees. (Las Vegas Review-Journal)
AGS partners with Vegas Golden Knights
AGS is the nation’s second-largest manufacturer of Class II slot machines used primarily in tribal jurisdictions. It announced a marketing partnership with the Vegas Golden Knights NHL team. (Las Vegas Review-Journal)
Lehman Brothers bet big on Las Vegas
Lehman Brothers collapsed 10 years ago, helping send the country into the Great Recession.
Fremont9 opens downtown
Fremont9 apartment complex has opened in downtown Las Vegas. (Marcus Villagran/Las Vegas Review-Journal) @marcusvillagran
Ross & Snow launches in Las Vegas
Luxury shoe brand Ross & Snow has opened in Las Vegas, featuring "functional luxury" with premium shearling footwear. (Bailey Schulz/Las Vegas Review-Journal)
Remote Identification and Drones
DJI vice president of policy and public affairs discusses using remote identification on drones. (Bailey Schulz/Las Vegas Review-Journal)
Drones and public safety in Nevada
Two representatives in the drone industry discuss UAV's impact on public safety. (Bailey Schulz/Las Vegas Review-Journal)
Frontier Airlines to launch flights from Las Vegas to Mexico
Frontier, a Denver-based ultra-low-cost carrier, will become the first airline in more than a decade to offer international service to Canada and Mexico from Las Vegas when flights to Cancun and Los Cabos begin Dec. 15. (Rick Velotta/Las Vegas Review-Journal)
MGM Resorts International CEO Jim Murren addresses Oct. 1 lawsuits
MGM Resorts International Chairman and CEO Jim Murren addresses criticism his company has received for filing a lawsuit against the survivors of the Oct. 1 shooting. (K.M. Cannon/Las Vegas Review-Journal)
MGM Resorts International opens the doors on MGM Springfield
Massachusetts’ first hotel-casino opens in downtown Springfield. The $960 million MGM Springfield has 252 rooms and 125,000-square-feet of casino. (K.M. Cannon/Las Vegas Review-Journal)
MGM Resorts International prepares to open MGM Springfield
Las Vegas-based MGM Resorts International gave news media and invited guests a preview of the $960 million MGM Springfield casino in Massachusetts. The commonwealth's first resort casino will open Friday, Aug. 24. (K.M. Cannon/Las Vegas Review-Journal)
A Walk Through Circus Circus
It only takes a short walk through Circus Circus to realize it attracts a demographic like no other casino on the Strip: families with young children. (Todd Prince/Las Vegas Review-Journal)
Morphy Auctions, a vintage slot machines seller, wants gaming license
Vice president Don Grimmer talks about Morphy Auctions at the company's warehouse located at 4520 Arville Street in Las Vegas on Thursday, Aug. 16, 2018. (Rick Velotta/Las Vegas Review-Journal)
Nevada's venture capital money doesn't stay in state
Zach Miles, associate vice president for economic development for UNLV, said there’s venture money in Southern Nevada, “but trying to find the right groups to tap into for that money is different.” According to a 2017 report from the Kauffman Foundation, Las Vegas ranked number 34 out of 40 metropolitan areas for growth entrepreneurship, a metric of how much startups grow. With a lack of growing startups in Las Vegas, investment money is being sent outside of state borders. The southwest region of the U.S. received $386 million in funding in the second quarter, with about $25.2 million in Nevada. The San Francisco area alone received about $5.6 billion. (source: CB Insights)
Neon wraps can light up the night for advertising
Vinyl wrap company 5150 Wraps talks about neon wraps, a new technology that the company believes can boost advertising at night. (Marcus Villagran/Las Vegas Review-Journal) @brokejournalist
Nevada on the forefront of drone safety
Dr. Chris Walach, senior director of Nevada Institute for Autonomous Systems, talks to a reporter at NIAS's new Nevada Drone Center for Excellence of Public Safety, located inside the Switch Innevation Center in Las Vegas. K.M. Cannon Las Vegas Review-Journal @KMCannonPhoto
Motel 8 on south Strip will become site of hotel-casino
Israeli hoteliers Asher Gabay and Benny Zerah bought Motel 8 on the south Strip for $7.4 million, records show. They plan to bulldoze the property and build a hotel-casino. Motel 8 was built in the 1960s and used to be one of several roadside inns on what's now the south Strip. But it looks out of place today, dwarfed by the towering Mandalay Bay right across the street.
News Headlines
Add Event
Home Front Page Footer Listing
You May Like

You May Like