Desert Southwest Area News

Promenade at Sahara Apt. Complex Sells for $23.3M in Las Vegas

29th Street Capital (29SC), a vertically integrated company founded in 2009, acquired the 312-unit Promenade at Sahara apartment complex in Las Vegas from Prime Group for $23.3 million, or about $75,000 per unit. Promenade at Sahara is situated approximately six miles east of the Las Vegas Strip at 4801 E. Sahara Ave. The garden-style community is 95 percent occupied and comprises one-, two- and three-bedroom units in 12, two-story buildings. 29SC...
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Posted: February 21, 2018, 12:26 pm

Best in the West in Las Vegas Sells for $87M

Vestar acquired the 464,917-square-foot Best in the West power center in Las Vegas from Weingarten Realty Investors for $87 million, or approximately $187 per square foot. The Best in the West power center at 2000-2192 N. Rainbow Blvd. is anchored by Bed Bath & Beyond, Best Buy, Old Navy, Jo-Ann Fabrics and Crafts and DSW. Other tenants at the 94 percent leased retail complex include Men’s Warehouse, Office Depot, TJ Maxx and Stein Mart, which...
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Posted: February 21, 2018, 11:08 am

Bixby, AXA Teaming Up to Acquire $400 Million in Western US Logistics Properties

Bixby Land Co., which is partnering with AXA, recently acquired a nearly 150,000-square-foot logistics facility in Phoenix's West 10 Business Center. Newport Beach, CA-based Bixby Land Co. has teamed with the real assets division of Paris-based AXA Investment Managers to target up to $400 million in acquisitions in the blazing hot industrial real estate sector. Through the joint venture, the companies will target mid-size, leased properties in...
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Posted: February 21, 2018, 4:09 am

Odyssey Sells Parkway Medical Plaza in Henderson

Odyssey Real Estate Capital, a local commercial real estate investment and advisory firm, sold the 90,000-square-foot Parkway Medical Plaza office building in Henderson, NV to Cypress West Partners for $31.75 million, or approximately $353 per square foot. The three-story medical office building at 100 N. Green Valley Pky. is leased to various tenants, including Desert Family Medicine of Green Valley, Pueblo Medical Imaging, Nevada Family Care...
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Posted: February 15, 2018, 9:02 am

Millis, Wrzesinski Join Avison Young in Las Vegas

Avison Young hired Ben Millis as principal and David Wrzesinski as senior associate at the firm’s Las Vegas branch. Both join Avison Young from Newmark Knight Frank (NFK) in Las Vegas and will continue to work as a team. David Jewkes, managing director of Avison Young, said, “Together, Ben and Dave will assist clients with acquisitions, dispositions and lease-ups of industrial, mixed-use and office properties, as well as land sales.” Millis...
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Posted: February 14, 2018, 11:49 am

Bkm Capital Partners Pays $92M for Industrial Complex in Las Vegas

CIP Real Estate Property Services sold the 670,902-square-foot Hughes Airport Center industrial complex in Las Vegas to bkm Capital Partners, a CA-based fund manager specializing in the acquisition of value-add, multi-tenant industrial properties. The warehouse property at 420-839 Pilot Rd. sold for $92 million, or approximately $137 per square foot. CIT Group Inc., a financial holding company with approximately $50 billion in assets, provided...
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Posted: February 14, 2018, 3:45 am