Desert Southwest Area News

Market Trend: Las Vegas' Mid-Year Industrial Deliveries, Construction and Inventory

During the second quarter 2017, six buildings totaling 379,710 square feet were completed in the Las Vegas market area. This compares to two buildings totaling 453,438 square feet that were completed in the first quarter. There were 6,424,670 square feet of Industrial space under construction at the end of the second quarter 2017. Some of the notable 2017 deliveries include: 7300 Eastgate Rd, a 240,000-square-foot facility that delivered in...
Posted: September 14, 2017, 5:41 am

TableRock Capital Buys Woodcreek Apt Homes

TableRock Capital LLC acquired the 232-unit Woodcreek Apartment Homes at 4485 Pennwood Ave. in Las Vegas, NV for $16 million, or about $69,000 per unit, from Bridge Partners. The 216,314-square-foot multifamily community delivered in 1978. Woodcreek has one-, two-, three- and four-bedroom units across 16 garden-style buildings. The units offer balconies, patios, and storage space, while some boasts fireplaces, and walk-in closets. The apartment...
Posted: September 8, 2017, 11:57 am

Peel Brimley Law Bldg Trades for $5.9M

Pell Brimley LLP sold the Peel Brimley Law Building at 3333 E. Serene Ave. in Henderson, NV to Manoa Falls LLC for $5.94 million, or for about $184 per square foot The two-story office building totals 32,236 square feet and is occupied by several regional law and financial services firms. It was built in 2005 on two acres in the South Las Vegas submarket of Clark County and features natural stone finishes and monument signage. Mica Berg and...
Posted: September 8, 2017, 10:56 am

Balboa Retail Partners Pays $13.5M for Las Vegas Retail Center

Balboa Retail Partners acquired the Sunrise Mountain Plaza shopping center at 5001-5051 E. Bonanza Rd. in Las Vegas, NV from Constantino Noval for $13.5 million, or about $94 per square foot. The 144,014-square-foot retail center delivered in 1984 on Las Vegas’ East End, 15 minutes from the downtown area. The asset is anchored by Kmart. Rhonda White or Sage Commercial Advisors represented the buyer. The seller was represented in the sale by...
Posted: September 7, 2017, 10:47 am