ETN Real Estate Services - Nevada Business Magazine

Transcription

SPONSORED BY
ETN
Real Estate Services
SPECIAL REPORT
T A B L E
O F
Airport Industrial Submarket Overview
PLISE Development and Construction*
Central Office Submarket Overview
Northwest Office Submarket Overview
Dermody Properties/DP Partners*
Southwest Office Submarket Overview
Southwest Industrial Submarket Overview
UnitedHealthcare*
EJM Development Co.*
Henderson Office Submarket Overview
Henderson Industrial Submarket Overview
ROEL Construction*
SH Architecture*
Pavilion*
Map
North Las Vegas Office Submarket Overview
North Las Vegas Industrial Submarket Overview
Newland Communities*
Jones Vargas*
Amercian Nevada Company*
Southern Nevada Water Authority*
Southern Nevada’s Office Market Summary
Southern Nevada’s Industrial Market Summary
Voit Commercial Brokerage*
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12
14
18
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36
37
39
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44
46
54
56, 57
58
58
62
66
68
70
72
76
80
C O N T E N T S
Majestic Realty Co.*
Burke & Associates*
Harsch Investment Properties*
Cox Business Services*
Jackson-Shaw Company*
Bank of Nevada*
Shea at Tenaya Village*
Community Service Committee
Government Affairs Committee
Stoltz Management*
Education Committee
Marnell Properties*
Sustainable Development Committee
Industry Trends Committee
Casey Jones Foundation
Communications Committee
Bus Tour Committee
Membership Committee
Benefits of Membership
Past Presidents
Board Members
President’s Circle Sponsors
Member Companies
Bus Tour Committee/Sponsors
*Paid Advertiser
SPECIAL REPORT
COPYRIGHT ©2007 REPRODUCTION PROHIBITED UNLESS AUTHORIZED BY PUBLISHER
6
NAIOP • EJM DEVELOPMENT CO. • 2007 BUS TOUR GUIDE BOOK
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108, 109
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A MARK OF
EXCELLENCE
Pavilion
Location: Charleston and Pavilion
154,000 square feet, six floors
Management is efficient in leading your company up the ladder of success,
Leadership determines whether your ladder is leaning against the right wall.
FOLLOW THE LEADERS:
Fertitta Enterprises • UBS • TD Ameritrade • Hill International • City National Bank • Station Casinos
Altour International • Seegmiller & Assoc. • Land America
Let your company be judged by the company it keeps.
Leasing info : Brad Peterson or Randy Broadhead, CBRE 702-369-4800
Professionally Managed by Gatski Commercial 702-221-8226
Airport Industrial Submarket Overview
AIRPORT
By Garrett Toft, Voit Commercial Brokerage
he Airport industrial submarket
has a total inventory of approximately 13.3 million square feet,
which accounts for roughly 14.5 percent of Las Vegas’ total inventory,
making it the third largest submarket
in the Valley. As of second quarter
2007, the vacancy rate was 4.2 percent down from 5 percent last year.
Garrett Toft
The Airport market is already home
to a host of gaming and resort related companies due to its proximity to the Strip and the Valley’s freeway system. It will continue to see a migration of gaming companies due to the tremendous growth on the Strip and the realization that the back office
and warehouse requirements of the gaming companies are better suited off premises. Relocating these departments off the
Strip properties enables operators to free up valuable space for
higher and better uses.
Rapidly escalating land prices forced new development in
this supply constrained market to better uses than the traditional industrial product. With the exception of EJM, there will no
T
1
MCC-5 Marnell Corporate Center
6720 Via Austi Pkwy.
Type: Office
Developer: Marnell Properties / Alan Helms / 702-739-2999
Leasing Agent: CBRE / Jayne Cayton, Bret Davis / 702-369-4800
Architect: Marnell Architecture
General Contractor: Summit Builders
Date Built: May-07
Status: Completed
Project Square Footage: 117,000
Development Acreage: 3.75
Asking Rates: $3.00-$3.25 FSG
Major Tenants: Marnell Keating, TEKsystems, The Loughton Company, Kemper Mortgage
COMMENTS:
MCC-5 is the first five-story Class A office building within the prestigious and sophisticated Marnell Corporate Center. It offers a dramatic two-story lobby entrance, scenic views
and the highest quality of services and amenities. The building has a unique independent
parking structure and is adjacent to the 2006 NAIOP Building of the Year, MCC-4.
8
longer be any more speculative mid-bay or distribution development in this submarket. In fact, there are very few sizeable
parcels available, period, regardless of pricing. One interesting
project that will be under construction is the 740 @ Hughes Airport Center project, which is being developed by Centra Realty
Corporation, based out of Irvine, Calif. This project represents the
first speculative development for sale within the Hughes Airport
Center in many years. It will feature Class A office and R&D / Industrial product from 1,500 to 22,000 square feet and will present a unique opportunity for tenants in the Hughes Airport Center to own their own facilities. Developers have turned to this
type of product in order to make projects economically feasible,
as rental rates and sales prices on mid-bay and distribution product do not justify development.
I have witnessed the price escalation in the Hughes Airport
Center and surrounding area, and believe the fundamentals
that have pushed increases remain and will only become
stronger in the coming years. Developers, tenants and users
have proved that they are willing to pay a substantial premium
for an excellent location, especially if there is extremely little
land to purchase.
2
Town Square
6601 South Las Vegas Blvd.
Type: Office
Developer: Turnberry Associates & Centra Properties / Steve Levine / 305-914-8219
Leasing Agent: Turnberry Associates / Steve Levine / 305-914-8219
Architect: Design Group
General Contractor: Marnell Construction
Date Built: Nov-07
Status: Under Construction
Asking Rates: $2.75-$3.10 MG
Major Tenants: Las Vegas Chamber of Commerce
COMMENTS:
Town Square is located at the epicenter of Las Vegas, bordered by the Strip, I-215 Beltway and I-15 with 400,000 vehicles passing by each day. Now leasing 350,000 SF of
office space complimented by the most comprehensive amenity offering in Las Vegas –
1.3 million SF of retail, restaurants, cafes, entertainment and fitness facilities.
77
Arrowhead 21
Patrick Ln. & Sandhill Rd.
Tuscano Professional Parc
5715-5795 Sandhill Rd.
78
AIRPORT
Type: Industrial
Developer: EJM Development / Kirk Boylston, Susan Wincn / 702-597-1852
Leasing Agent: Colliers International / Spencer Pinter / 702-735-5700
Architect: RGA Architects
General Contractor: LM Construction
Date Built: Jan-Feb-08
Development Acreage: 110
Asking Rates: TBD
Major Tenants:
COMMENTS:
Arrowhead Commerce Center Building 21 is part of a 110-acre master-planned industrial office park. The building will total +/-147,738 SF (divisible to as little as +/-15,600
SF) and will be constructed on the Southwest corner of Sandhill and Post in Arrowhead
Commerce Center. The building will be a typical big box distribution facility (cross dock
style) with a +/-30' ceiling clear height in the warehouse area, high bay warehouse
lighting, evaporative cooling, ESFR fire suppression system, and 277/480 volt, threephase power.
SUBMARKET SPONSOR
Type: Office
Developer: Steelhead Development, Inc. / Argo Corporation
Leasing Agent: Lee & Associates / Chuck Witters / 702-739-6222
Architect: JMA
General Contractor: Steelhead Development
Date Built: Dec-06
Asking Rates: $1.84 SF MG
Major Tenants: Rapport Leadership, Secor International, Exit Realty
COMMENTS:
Park like grounds, Tuscany Mediterranean architecture, five single-story buildings from
7,750 SF to 12,000 SF extensive use of Italian tile in building common areas, generous tenant improvement allowance.
1, 2, 77, 78??
Because NAIOP wanted to make sure each property on this year’s
Bus Tour got the attention it deserved, the tour was divided into two
routes, roughly east and west of the I-15 freeway. Because of this,
the numbers for the properties sometimes do not match up with the
submarkets in numerical order.
Please take our word for it: the properties as listed here belong in the
submarket where they’re located. Please refer to pages 56 and 57
for the complete Bus Tour map and the accompanying list of properties from 1 through 83.
Have a wonderful Bus Tour!
Industry Definitions
Double Net Lease: Tenant pays property taxes and insurance.
FSG: Full Service Gross - Landlord covers all base year expenses.
Thanks for
supporting NAIOP!
Gross Lease: A lease of property where the lessor is responsible for
paying all property expenses.
Gross Rent Multiplier: The GRM is an easy rule of thumb to forecast value.
Modified Gross Leases: This is a lease in which the rent includes building expenses
like a Gross lease, but the landlord recaptures expense increases after the base year.
Sub-Lease: A tenant leases some portion of a premises to another tenant,
while remaining liable to the landlord for rent.
Triple Net Lease: (NNN) A net-net-net lease, where in addition to the stipulated rent,
the lessee assumes payment of all operating expenses of the property and the
landlord receives a net rent.
9
Venture Commerce Center
6725 - 6785 S. Eastern Ave.
80
Pama Lane Business Park
Palm Ln. & Eastern Ave.
AIRPORT
79
Type: Office/Industrial
Developer: Venture Corporation / Stu Scheinholtz / 415-464-1900
Leasing Agent: Voit Commercial Brokerage / Kevin Higgins, Garrett Toft,
Steve Paravia / 702-734-4500
Architect: Ware Malcomb
General Contractor: Lusardi Construction Company
Date Built: 4th Qtr. 2006
Status: Completed
Asking Rates: $339,000 - $939,000
Major Tenants:
COMMENTS:
Venture Commerce Center is a unique development consisting of 38 privately owned
business properties, ranging in size from 1,183 to 3,600 SF in four separate buildings.
Venture Commerce Center business properties have two designs. The properties along
Eastern Ave. are one-and two-story office buildings with completed finishes including
carpet and restrooms. The other design features two-story offices on the front of the
building and a 21' clear flex area in the rear.
81
Equipment Management Technology Center
1545 Pama Ln.
Type: Industrial
Developer: EMT / Vito A. Longo / 702-459-1700
Leasing Agent: CB Richard Ellis / Jeremy Green / 702-369-4800
Architect: John Vivier
General Contractor: Matt Construction
Date Built: Jun-07
Status: Completed
Asking Rates: $1.20 - $1.25 NNN
Major Tenants: Equipment Management Technology & Simplex Grinnell
COMMENTS:
Completely secured underground parking, 24' clear height, first and second story office
with parking served by elevator and concrete tilt up w/ a 8' wall thickness. Automatic
Sprinkler System/ ESFR with fire pump. Dock and grade loading, pit levelers, 100%
HVAC, three-phase power and hi-bay metal halide lighting in warehouse. Double pane
blue colored glass on exterior. Available for build-out.
10
Type: Office
Developer: Real Estate Group Nevada, LLC / Lee Phelps / 702-367-3000
Leasing Agent: Lee & Associates / Chuck Witters, David Flynn / 702-739-6222
Architect: Lee & Sakahara Architects
General Contractor: Mission Completed Contactors
Date Built: Sept-07
Status: Completed
Development Acreage:
Asking Rates: $1.90 NNN / $250 SF
Major Tenants:
COMMENTS:
Located off Eastern Avenue, the professional office park has two 5,005 SF single-story
buildings and three 11,186 SF two-story buildings with 4.5/1,000 parking ratio.
82
740 @ Hughes Airport Center
740 Pilot Rd.
Developer: Centra Realty Corporation / Keith Ross / 949-476-2246
Leasing Agent: Voit Commercial Brokerage / Kevin Higgins, Garrett Toft,
Steve Paravia / 702-734-4500
Date Built: 2008
Asking Rates:
Major Tenants:
COMMENTS:
740 @ Hughes Airport Center will feature Class A office and R&D/Industrial buildings for
sale, ranging in size from 1,500 - 22,000 SF. The office properties will be sold in shell
condition and feature private balconies with Strip views. The R&D/Industrial properties
will be available in shell condition or finished condition.
83
Sunset Pilot Plaza
280 Pilot Rd.
AIRPORT
Thanks, NAIOP!
Type: Office
Developer: 280 Pilot Road LLC / Wes Jenson / 702-361-8301 x15
Leasing Agent: Stoltz Real Estate / Wes Jenson, Mikkel Pearce / 702-361-8301
Architect: JMA
General Contractor: Martin-Harris Construction
Date Built: Jan-08
Project Square Footage: 1-100,000/2-80,000
Asking Rates: $3.05-$3.20 FSG
Major Tenants:
Nevada Business Journal
would like to thank NAIOP
for allowing us to again
partner with your great
organization to produce the
2007 NAIOP Bus Tour Guide
Book. We have enjoyed
working with you on the
Bus Tour since 2003 and
look forward to many more
years together.
COMMENTS:
The project is a Class A office development within minutes of hotels, restaurants, the Las
Vegas Strip and McCarran Airport, with immediate access to the airport connector, and
regional highway system. The project will feature two three-story buildings totaling
180,000 SF, with divisibility from 5,000 SF.
Plise Development & Construction
Earning a Reputation for Success
properties for its convenient location and unique design.
lise Development & Construction, LLC (PLISE), is
As a premier mixed-use project in the Las Vegas Valley,
one of Southern Nevada’s top commercial real esCity Crossing is situated on 126 acres and consists of 2,500
tate development and construction firms. PLISE
luxury residences, 1 million square feet of Class A office
provides design/build and general contracting services, and
space and 600,000 square feet of lifestyle retail space toa full range of development services including, without limgether to create an upitation, land-use and
scale urban lifestyle dezoning, planning, financ“City Crossing is situated on 126 acres
velopment,
unlike
ing, construction mananything else in the area.
agement, leasing and
and consists of 2,500 luxury residences.”
This dynamic $2 billion
property management.
destination caters to
To date, PLISE has depeople who want to live, work and entertain all in one place
veloped more than 2 million square feet of Class A office
and is well located adjacent to the Henderson Executive Airspace, retail and mixed-use projects throughout the Las
port. The first 30 acres of City Crossing are slated for comVegas Valley, with another 3 million square feet currently
pletion by the third quarter of 2009.
under development and construction. Current projects inPLISE is recognized as a leading builder of true Class A ofclude Centennial Corporate Center, Rainbow Sunset Pavilion
fice buildings. The company is committed to utilizing its acand City Crossing.
quisition, development, construction and management exCentennial Corporate Center and Rainbow Sunset Pavilion
pertise to improve its properties while maintaining
combine a unique mix of true Class A professional and medical
uncompromising principles.
office with an abundant mix of attractive retail amenities in one
Plise Development & Construction has earned its reputamaster-planned commercial center. Both projects have attracttion for development excellence.
ed an eclectic mix of high-profile tenants that selected PLISE
P
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Central Office Submarket Overview
By Bruce Follmer, CB Richard Ellis
he Central Office Submarket is
comprised of several older office
corridors in the Las Vegas Valley
with +/- 2,681,633 square feet of general office space and 755,879 square
feet of medical office space. This submarket had a 9.88 percent vacancy
rate in general office space and 10.04
percent in medical office space at the
Bruce Follmer
end of the second quarter 2007. The
primary office corridors are East Flamingo Road, West Sahara Avenue and Downtown Las Vegas.
The Flamingo Road office corridor has not seen a significant
development in recent years with the exception of the continued
development of the Howard Hughes Center. Crescent Real Estate completed construction of 3883 Howard Hughes Parkway in
second quarter 2007 and is 95 percent occupied with $3.85 FSG
asking rents.
The Sahara Office Corridor has also been negatively impacted by the emergence of the Southwest office submarket. The
Nevada Financial Center which was this corridor’s first Class A
CENTRAL
T
3883 Howard Hughes Pkwy.
3
office development is +/- 158,000 square feet and remains the
cornerstone of this office corridor at 100 percent occupancy with
$2.95 FSG asking rents.
Downtown Las Vegas redevelopment is starting to gain momentum with the proposed REI project that is to be anchored by
a sports stadium to the north of West Charleston Boulevard. Other
projects in the Downtown submarket include: the IRS building on
Ogden Avenue; the Molasky Corporate Center/Southern Nevada
Water Authority building; the Las Vegas Premium Outlet Center;
Phase III of World Market; the Jewelry Mart; and Union Park.
The Medical District just west of I-15 has around 1.4 million square feet of medical office space with a vacancy rate of
4.92 percent. Three hospitals currently operate in this submarket with 1,228 hospital beds – a ratio of 1,120 square feet
of medical office space per hospital bed. Average lease rates
in this submarket are $1.82 per square foot per month which
is slightly above the market average of $1.78 per square foot
per month.
The Las Vegas market’s growth and strong economy continue to bring many doctors, nurses and other trained healthcare
providers to the market.
4
701 Shadow Lane Office Building
701 Shadow Lane
Type: Office
Type: Office/ Medical
Developer: Colliers International / Tom Stilley, Lizz Stilley / 702-735-5700
Developer: Tower Realty and Development / 702-366-0444
Leasing Agent: Crescent Real Estate Equities, LTD. / Robert Boykin / 713-840-3700
Leasing Agent: CBRE / Jan Hoback, Carla Cole, Bruce Follmer / 702-369-4800
Architect: HIS Architect Inc.
Architect: Westar
General Contractor: Mitchell Construction
General Contractor: Western US Contractors
Date Built: May-07
Date Built: Sep-07
Status: Completed
Asking Rates: $3.25 FSG
Asking Rates: $2.25 /NNN
Major Tenants: Snell & Wilmer, Boyd Gaming, AM PAC, Gassy Enterprises
Major Tenants: University Medical Center of Southern Nevada, Cancer and
COMMENTS:
3883 Howard Hughes Parkway, Crescent Real Estate's new 11-story, Class A office
tower in Hughes Center. Designed by HIS Architects, Inc., the project features imported
and domestic granite, combined with granite chip architectural pre-cast panels and composite metal wrapped columns.
Blood Specialists of Nevada
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COMMENTS:
Three-Story Medical Office building directly across the street from Valley Hospital and
UMC; adjacent to the Clark County Health District and University of Nevada School of
Medicine.
5
Molasky Corporate Center
100 City Pkwy.
NORTHWEST
Type: Office
Developer: The Molasky Group of Companies / Richard S. Worthington / 702-735-0155
Leasing Agent: Burnham Real Estate / Keith Bassett / 702-384-4488
Architect: KKE/HFTA Architects
General Contractor: Marnell Corrao
Date Built: Sep-07
Status: Completed
Major Tenants: Southern Nevada Water Authority, 24 Hour Fitness, Brownstein Hyatt
Farber & Schreck
COMMENTS:
As the largest, privately-owned green building in Las Vegas, Molasky Corporate Center
sets the tone for sustainable development in the downtown area. Highly amenitized and
headquarters for several prominent agencies and firms, the 17 story Class A office tower
is expected to be LEED Gold certified.
16
Northwest Office Submarket Overview
By Dean Kaufman, Colliers International
he Northwest office market is
bound by the 215 Beltway to the
west, east along Desert Inn Road
to Durango Road, then north to Summerlin Parkway, east to Decatur Road,
and finally, north where it rejoins the
215 Beltway. As of the second quarter
of 2007, it consists of more than 7.7
million square feet of space, which
Dean Kaufman
represents approximately 21 percent
of all office space in Southern Nevada. Approximately 9.8 percent
or just under 759,000 square feet is vacant, an increase from 5.6
percent vacancy last year.
Absorption for the first two quarters of 2006 was a healthy
144,000 square feet. As of the second quarter 2007, there was
almost 194,000 square feet under construction-substantially less
than the 800,000 square feet under construction one year ago.
Leasing rates currently average $2.68 per square foot per month
full service gross, an increase of $0.29 or 12.1 percent from last year.
Most of the increase came from Class A and medical space, where
rates have increased 14.7 and 18.4 percent respectively.
NORTHWEST
T
Shea at Tenaya Village
7425-7495 W. Azure Dr.
6
Type: Office
Developer: SAXA, Inc / Lucinda Stanley / 702-592-1196
Leasing Agent: Prudential-IPG CRES/Miriam Campos-Root
Architect: DFD Cornoyer Hedrick
General Contractor: Caviness Construction Company
Date Built: Jul-07
Asking Rates: $220.00-$250.00 SF
Major Tenants: World Financial Group, Centennial Hills Orthodontics
COMMENTS:
Northwest project located in Town Center with beautiful single and two-story garden style
offices. Convenient to Centennial Hospital with great access from US-95 and 215 beltway with excellent visibility and signage. A rare opportunity in the Northwest area.
18
The diversity of projects under construction indicates an increasing sophistication of the Northwest submarket. At six stories, Pavilion, a 150,000-square-foot Class A project is expected
to stimulate a new era of office development in Summerlin over
the next five years. Plise Companies’ five-story 127,000-squarefoot Centennial Corporate Center at Ann Road and the I-95, has
also raised the standard.
Strong job creation, a healthy supply of competitively priced
housing and the opening of the Centennial Hills Hospital, will continue to stimulate population growth. As commute times to more
established office markets increase, so will the demand for local
office space. Developers such as American Nevada Company are
integrating office development into master-planned communities, enhancing the quality of future growth.
We can expect a pause in Class A development as the projects under construction absorb. Demand for multi-story Class B
office product will increase as medium-sized tenants enter the
submarket. Though land prices have increased, opportunities remain for Class C projects that will continue to cater to smaller
tenants. Overall, expect continued healthy absorption of office inventory in the Northwest and diversity of product types.
7
Venture Centennial Hills Center
2501 Fire Mesa St.
Type: Office
Developer: Venture Corporation Las Vegas / Ryan Gould / 702-341-8809
Leasing Agent: Venture Corporation Las Vegas / Ryan Gould / 702-341-8809
General Contractor: Lusardi Construction
Date Built: Jun-08
Asking Rates: $2.00-$3.50 NNN
Major Tenants: Nevada Title Company, Progressive Insurance,
Land America Lawyers Title, CitiCorp
COMMENTS: Centennial Hills Center will consist of 161,000 SF of medical, professional, retail condominiums in 12 separate, architecturally appealing, single-story buildings
ranging in size from 5,800 to 9,800 SF, ideal for medical and dental professionals of all
disciplines. In the core of this new development will be 58,000 SF two-story and 87,000
SF three-story Class A medical & professional office buildings.
Cheyenne Fairways Business Center
8640 W Cheyenne Ave.
8
Type: Office
Developer: Investment Equity Development / David Inman / 702-871-4545
Leasing Agent: Investment Equity Development / Bob Hommel / 702-871-4545
Architect: Indigo Architects
General Contractor: Investment Equity Builders
Date Built: Aug-07
Status: Completed
NORTHWEST
Major Tenants: WaterMark Executive Suites
COMMENTS:
This 60,000 SF two-story office/retail development features office suites for lease with
balconies, putting greens and outstanding views fronting the Durango Hills Golf Club. Located on Cheyenne, west of Durango, the project is anchored by a 25,000 SF state-ofthe-art WaterMark Executive Suites.
9
Las Vegas Tech Center II
2501 Fire Mesa St.
Type: Office
Developer: Thomas & Mack Development Group / Nicola Fryatt / 702-896-6103
Leasing Agent: CBRE / Randy Broadhead, Brad Peterson / 702-369-4800
Date Built: Dec-06
Status: Completed
Asking Rates: $2.25 MG or Sale $225 SF
Major Tenants: Health Data Insights, Land America, Lawyers Title, Title One
COMMENTS:
The Las Vegas Technology Center II is a mixed-use business park comprised of
71.74 acres. The center features full interstate access to US 95 via Cheyenne Road
and access to I-215 via Cheyenne or Lake Mead. 2501 Fire Mesa St. is a two-story
suburban Class A office building and a sister building to the existing 7501 Trinity
Peak Building (100% leased).
Dermody Properties/DP Partners
Expanding Its Business Platform
office and retail through other divisions of the company. While
ermody Properties/DP Partners was founded in
maintaining a strong presence in each of its current markets,
Nevada in 1960 and has grown to become one of
Dermody Properties will embrace an even greater entreprethe 10 largest private industrial development firms
neurial approach to development and a focus on exemplary
in the nation with clients among the who’s who of American
customer service.
industry. In fact, Dermody Properties is the only national deFrom their 2006 NAIOP Spotlight Award-winning projects in
velopment firm founded and based in Nevada.
Southern Nevada to their
Even
though
the
efforts to support a sister
growth of Dermody Prop“The company has been Nevada’s ambassador
chapter in Northern
erties has included deNevada, Dermody Properfor
industrial
development
and
a
model
for
velopment in markets
ties is working together
from Pennsylvania to
commitment to their community.”
with NAIOP to create a
Georgia, Chicago to Las
bright future for developVegas, they are keenly
ers
and
the
communities
in
which
they
work and live. As the
aware of their roots. The company has been Nevada’s amDermody
Properties
team
looks
to
the
future,
they will activebassador for industrial development and a model for comly
pursue
new
projects
and
embrace
a
refreshed
style of
mitment to their community.
doing
business,
as
well
as
an
even
greater
emphasis
on givAs rich as their history has been, the future is even more
ing
back
to
the
community.
exciting today for the company, the industry and the Las
Dermody Properties is proud to be a sponsor of the Southern
Vegas community. Dermody Properties will now expand their
Nevada
NAIOP Bus Tour and is looking forward to being a part
business platform to include not only industrial development
of
the
leadership
NAIOP will continue to bring to our region.
through DP Partners, but also other property types including
D
20
Parkway Pointe
9555 Hillwood Dr.
10
11
Pavilion
10801 W. Charleston Blvd.
Type: Office
Type: Office
Developer: Christopher Commercial / Douglas Crook / 702-243-2800
Developer: Jason Awad
Leasing Agent: CBRE / Jayne Cayton, Bret Davis / 702-369-4800
Leasing Agent: CBRE / Brad Peterson / 702-369-4800
Architect: SH Architects
General Contractor: Burke & Associates
General Contractor: Burke & Associates
Date Built: Jan-07
Date Built: Sept-07
Status: Completed
Asking Rates: $2.65-$2.90 SF MG
Major Tenants: First National Bank, New Cotai Holdings
Major Tenants: City National Bank, UBS, Fertitta Enterprises
COMMENTS:
Parkway Pointe is a two-story Class A office building within the prestigious Summerlin
master-plan. This one of a kind office development offers signage visible from Summerlin Parkway and is within minutes from both U.S. 95 and the I-215 Beltway, providing easy access throughout the Valley.
COMMENTS:
Premier Northwest location on West Charleston near the 215 in Summerlin Center sets
the stage for this beautiful six-story Class A Professional office building totaling 150,000
SF. Upgraded finishes inside and out. Balcony views, three level parking structure and
close to all amenties.
SOUTHWEST
13
The Gardens Plaza
Type: Office
Developer: Mark L. Fine & Associates / Sara Lenn / 702-733-5901
Leasing Agent: Mark L. Fine & Associates / Sara Lenn / 702-733-5900
Architect: Perkowitz & Ruth Architects
General Contractor: SR Construction
Date Built: Jun-07
Status: Completed
Asking Rates: Office Lease $2.50 NNN / Retail - $3.35 - $3.75 / Land - $40-$52 SF
Major Tenants: Realty One, Marrs Bergquist CPA's, Coffee Bean & Tea Leaf, Rachel's
Kitchen
COMMENTS:
The Gardens Plaza is ideally located at a prime intersection in Summerlin, this project will
consist of office pads for office building ranging from 4,200 SF up to 12,000 SF. There will
also be opportunities for leases located directly on Town Center Dr. This lushly landscaped
project offers its tenants a beautiful professional high-image business environment.
22
Southwest Office Submarket Overview
By Taber Thill, Colliers International
he Southwest submarket encompasses the area between Flamingo Road to the north, the I-15 to
the east, the California State line to the
south and the Spring Mountain range
to the west. Containing an approximate
12 percent share of the current existing office inventory in the Las Vegas
Valley, the Southwest attributed to
Taber Thill
more than 30 percent of the office absorption in the second quarter of 2007.
The Southwest submarket continues to lead office development in the Las Vegas Valley, accounting for more than 64 percent of new construction. Ideally located between the two largest
residential master-plans in Southern Nevada (Summerlin and
Green Valley) the Southwest submarket will evolve into one of the
Valley’s core submarkets. Projects with visibility and quick access to the I-215 Beltway have generated the most demand with
an average vacancy rate of 3 percent. The majority of tenants
moving to this area are somewhat larger users (between 10,000
and 25,000 square feet) than the traditional Las Vegas office
T
user. In contrast, the typical tenant size for office users in the Valley is 3,000 to 7,000 square feet.
Increasing land prices in the Southwest and construction
costs have pushed future development toward mid-rise Class A
and B office product. The majority of these planned mid-rise office buildings will be a smaller component of mixed-use developments incorporating retail and residential. Rates will continue
to adjust upward to offset spikes in local construction costs.
With more than 4.5 million square feet of existing office
space and another 2.7 million square feet planned, the need for
differentiation has never been greater. For instance, the Park at
Spanish Ridge Phase II and LaPour Corporate Center are both
green building projects underway in the Southwest looking to attract the environmentally conscious office users. Other projects
such as EJM’s 450-acre, The Arroyo, project will surround its
tenants with more than 4 million square feet of retail amenities
and services.
In summation, the Southwest submarket market remains
strong as rents increase to an all time high. The Southwest
boasts considerable increases in occupancy and market share,
due to its exceptional location and economic advantages.
Southwest Industrial Submarket Overview
By Spencer Pinter, Colliers International
SOUTHWEST
Over the past years, growth in the Southwest submarket
has generally out-paced all other industrial
submarkets in the Las Vegas Valley
he Southwest submarket continues to be Las Vegas Valley’s most
desired area for businesses reSpencer Pinter
quiring industrial space centrally located in the Valley with close proximity to the Las Vegas Strip and
McCarran International Airport. Generally located west of I-15,
north of Blue Diamond Road, south of Sahara Avenue and east of
Decatur Boulevard, this area has, within the past two years,
jumped further west with a pocket of industrial product (called
The Arroyo Business Center) located between Buffalo Road and
Rainbow Avenue along the I-215 freeway. The Southwest includes approximately 28.3 million square feet of industrial space,
accounting for about 29 percent of the industrial space in the entire valley. With all this in mind, the vacancy rate at the end of
the second quarter 2007 was at 5 percent, compared to the overall industrial market vacancy rate of 4.4 percent in Las Vegas.
Over the past years, growth in the Southwest submarket has
generally out-paced all other industrial submarkets in the Las
T
Vegas Valley with almost 1 million square feet of industrial product under construction. Currently, only North Las Vegas has more
space under construction totaling about 1.5 million square feet.
Developable vacant industrial land continues to become more
scarce and more expensive forcing developers to take greater
risks with newly purchased land. The minimal supply of existing
land to be developed in the Southwest at this time is very expensive ranging from $18 to $25 per square foot. With this in mind,
the bulk of the larger multi-tenant projects to be developed over
the next few years will continue to come from EJM Development
Co. at The Arroyo Business Center and Majestic Realty Co. at the
Beltway Business Center. Both of these developers have negotiated joint venture arrangements with the Clark County Aviation Department on close to 400 acres each.
Regardless of the challenges faced in the Southwest, this
submarket continues to be the most highly desired industrial
submarket in Las Vegas for users looking to service all parts of
the Valley from one location, or service the resort corridor.
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12
Stone Canyon Professional Park
Type: Office
Developer: Investment Equity Development / 702-871-4545
Leasing Agent: Investment Equity Builders / 702-871-4545
Date Built: Spring 2007
Status: Completed
Asking Rates: Sale $245-$325 SF
Major Tenants: Priority One Commercial
COMMENTS:
This 83,000 SF high-image, mixed-use office/retail development features a prestigious West Sahara address and a 50-foot tall combination pylon sign/color reader
board. This project includes 15,000 SF of retail pad space for lease on the corner of
Sahara & Tenaya, across from the automotive dealerships of Mercedes-Benz,
Porsche, Jaguar, and Aston Martin.
SOUTHWEST
SUBMARKET SPONSOR
Thanks for
supporting NAIOP!
24
14
Venture Hualapai Pavilion Commons
10115 - 10195 West Twain Ave. & 3820 S. Hualapai Way
Type: Office
General Contractor: Oakview Construction
Date Built: Aug-07
Status: Completed
Asking Rates: $2.25-2.75 NNN/ $225-$280 SF Shell
Major Tenants: Dr. Andrew Bronstein, MD (Orthopedic Surgery); Dr. Seth Adjovu, MD
(Internal Medicine); Gastroenterology Associates of Las Vegas; Dr. Carlos Letelier, MD,
DMD, DDS (Oral Surgery)
COMMENTS:
Hualapai Pavilion Commons is a new office development consisting of 62,100 SF of professional, medical and dental offices. The project consists of six buildings ranging in size
from 8,850 to 15,000 SF. Located at the intersection of South Hualapai Way and West
Twain Avenue, it is adjacent to Summerlin and directly across the street from the 142,000
SF Nevada Cancer Institute facility.
15
Venture Professional Center Ft. Apache
5731-5785 S Ft. Apache Rd. and 9455-9525 W. Russell Rd.
Type: Office
Architect: JMA
General Contractor: SIMAC and Oakview Construction
Date Built: Mar-07
Status: Completed
Asking Rates: $2.00-$2.50 NNN / $245-$275 SF Shell
Major Tenants: Dr. Ben Rodriquez, MD (Plastic Surgery); Dr. Timothy Tolan, MD (Ear,
Nose & Throat); Dr. Douglas Seip, MD (Orthopedic Surgery with HealthSouth; Dr. Stuart
Hoffman, MD (General Surgery)
COMMENTS:
Venture Professional Center Fort Apache is a Class A design, 120,000 SF development
consisting of 13 single-story buildings and one two-story building ideal for medical, surgical center, dental and professional offices. It is located on the corner of Russell and Fort
Apache roads within close proximity to four major medical facilities. It is visible from the I215 and within 1/2 mile of Southern Hills Hospital.
16
Manhattan West
5731-5785 S Ft. Apache Rd. and 9455-9525 W. Russell Rd.
Type: Office
Developer: Alexander Edelstein, Jim Horning / 702-614-3193
Leasing Agent: Prudential-IPG CRES / Miriam Campos-Root, Dana Berggren
702-363-7600
Architect: Oz Architecture
General Contractor: APCO Construction
Date Built: Aug-09
Asking Rates: $2.35 NNN / $285 SF Shell
Major Tenants:
SOUTHWEST
COMMENTS:
Manhattan West is a mixed-use development offering 150,000 SF Class A office condos for sale or lease, divisible to 1,600 SF. Office users have numerous amenities including 45,000 SF ground floor retail, ninth floor lounge, conference and fitness center, underground parking and built-in customer base of 1,000 residents.
18
LaPour Corporate Center
9075 W. Diablo Dr.
Type: Office
Developer: LaPour / Lisa Chasteen / 702-222-3022
Leasing Agent: Colliers International / Mike DeLew, Greg Pancirov,
Kevin Collura / 702-735-5700
General Contractor: TWC Construction
Date Built: Apr-08
Asking Rates: $2.60 MG
Major Tenants: LaPour Headquarters
COMMENTS:
LaPour Corporate Center will be located at Russell Rd. and the I-215, with direct access from Frontage Rd., providing an excellent location for professional tenants desiring visibility, accessibility and convenience. Designed with a contemporary architectural style this prominent three-story design is a unique Class A office environment.
26
17
Desert Canyon Business Park
9107-9133 Russell Rd.
Type: Office
Developer: Nigro Development / Todd Nigro / 702-247-1920
Leasing Agent: Commercial Executives / Soozi Jones Walker / Bobbi Miracle
702-316-4500
Architect: Perlman
General Contractor: Nigro Development
Date Built: 2006/2007
Status: Completed
Major Tenants: Nigro Development, Beazer Homes, Bank of George, Millennium Gaming
COMMENTS:
Desert Canyon is a 15-acre master-planned Class A office business park with a sophisticated, unique desert architecture and landscaping design. Buildings have freeway visibility signage.
19
The Park at Spanish Ridge
8906-8990 Spanish Ridge Ave.
Type: Office
Developer: Glen, Smith & Glen Development / Kenneth Smith / 702-212-9400
Leasing Agent: Colliers International / Taber Thill, Dean Kaufman / 702-735-5700
Asking Rates: $2.30 SF MG / $2.65 SF for Sale
Major Tenants: Schadler Kramer Group Advertising, Tang Industries, Henness & Haight
Attorneys at Law, Dr. Frank Stile
COMMENTS:
Upon completion, The Park at Spanish Ridge will total 620,000 SF of Class A office space
on approximately 40 acres. There are 25 single-story buildings ranging from 6,012 to
12,285 SF, four two-story buildings ranging from 36,000 to 59,700 SF, two three-story
buildings ranging from 70,000 to 89,550 SF and a four-story, 81,980 SF building.
20
Discovery Gateway Park
I-215 & Russell Rd.
Developer: Abbott Brothers Development, Inc. / Jim Abbott / 213-627-3338
Leasing Agent: Voit Commercial Brokerage / Kevin Higgins, Garrett Toft, Steve Paravia
702-734-4500
Architect: Dekker/Perich/Sabatini
General Contractor: Western Pride Construction
Date Built: Mar-08
Asking Rates: Office: $1.80 NNN / $300 SF Industrial: $1.16 - $1.26 / $236 - $270 SF
Major Tenants:
SOUTHWEST
COMMENTS:
Discovery Gateway Park offers two-story business properties from +/-2,358 to 5,146
SF for sale or lease. Properties are delivered in finished condition with tenant improvements complete. All properties feature balconies, floor to ceiling reflective glass,
24' clear height in warehouse with sprinklers and evaporative coolers and a metal
truss and deck roofing system.
22
Durango Village
6002-6088 S. Durango Dr.
Type: Office
Developer: SAXA, Inc. / Lucinda Stanley / 702-592-1196
Leasing Agent: Prudential-IPG CRES / Miriam Campos-Root, Dana Berggren
702-363-7600
General Contractor: CORE Construction
Date Built: Oct-07
Asking Rates: $240-$260
Major Tenants: Glen J. Lerner & Associates
COMMENTS:
Attractively designed southwest project located just north of the 215 beltway on the
corner of Patrick and Durango features single and two-story buildings ranging from
5,556 SF to 25,000 SF and divisible to 1,250 SF. Great signage and visibility with
parking at the door. Lowest rates in the area.
28
Copper Pointe Business Park
21
SEC I-215 & Patrick Ln.
Type: Office
Developer: Investment Equity Development / David Inman / 702-871-4545
Leasing Agent: Investment Equity Development / Bob Hommel / 702-871-4545
Date Built: Feb-07
Asking Rates: Sales Price $250-$315 SF
Major Tenants:
COMMENTS:
This 74,000 SF high-image office park consists of (2) two-story office buildings with
units for sale ranging from 2,500 to 37,000 SF. The project features outstanding visibility with I-215 beltway signage and is situated parallel to the beltway between Sunset and Russell in close proximity to three new hospitals.
23
Village Business Park located in The West Village
Type: Office
Developer: Stable Development / Lance Bradford / Kale Flagg / 702-735-5030
Leasing Agent: 1st Commercial Real Estate Services / Kevin Buckley / 702-798-9988
Architect: Korte Design
General Contractor: The Korte Company
Date Built: Summer 2008
Asking Rates:
Major Tenants: Spectrum Engineering, Accountants Inc, Swan Advertising,
Sabir & Associates
COMMENTS:
The Village Business Park, which will consist of seven office buildings, and is being
developed in the unique West Village. Located on approximately 16.62 acres, the park
will contain 230,000 SF of office space and approximately 26,000 SF of retail space.
24
Durango Warm Springs Medical
8430 W. Warm Springs Rd.
25
MacFarlane Medical Center
8352 Warm Springs Rd.
Type: Office
Developer: The Dunn Companies / Leslie Dunn / 702-458-6579
Leasing Agent: Colliers International / Rhonda Panciro, Suzette La Grange
702-735-5700
Architect: APTUS Architecture
General Contractor: Kitchell Construction
Date Built: 2nd Quarter 2008
Asking Rates: Lease $1.85 NNN Sale $250.00 SF
Major Tenants:
Type: Office
COMMENTS:
Located at the Northeast corner of Warm Springs and Gagnier, this master-planned,
Class A, 375,000 SF medical campus includes a multi-specialist post acute care hospital. The project is located in the growing Southwest submarket and in close proximity to three new hospitals, and immediately adjacent to the new St. Rose Dominican Hospital-San Martin Campus.
COMMENTS:
This Class A medical office building is a three-story shell frame with covered parking
5 per 1,000, gurney size elevator, Fiber Optic IT backbone, security system, emergency power/med-gas capable, HVAC units and landscaping. The property is adjacent
to St. Rose Dominican Hospital-San Martin Campus.
Developer: Capovilla Management LLC / John Bonner, Allen Emmel / 702-807-8387
Leasing Agent: Prudential Americana Group / Wesley Drown, Ian Richie / 702-614-1197
Architect: Moser Architecture Studio
Date Built: 1st Quarter 2008
SOUTHWEST
Major Tenants: Bright Futures Pediatrics
30
The Arroyo-Single Story
SOUTHWEST
26
Tenaya Wy. & Warm Springs Rd.
The Arroyo Corporate Center
27
I-215 & Buffalo Dr.
Type: Office
Developer: EJM Development Co. / Kirk Boylston / 702-597-1852
Leasing Agent: Colliers International / Tom Stilley, Taber Thill, Dean Kaufman
702-735-5700
Architect: JMA / Lee & Sakahara Architects
Date Built: Mar-08
Asking Rates: $1.65 NNN
Major Tenants: Bright Futures Pediatrics
Type: Office
COMMENTS:
The Arroyo will provide an environment for companies to relocate their businesses
into the growing southwest corridor of the Valley. The buildings are part of a 450-acre
master-planned business park that will offer more than 5 million SF of mixed-use development including office, restaurant, financial services and retail.
COMMENTS:
The Arroyo Corporate Center offers a full spectrum of business location options including Class A office buildings ranging from two- to six-stories, single-story office
and industrial buildings. The 450-acre project will provide tenant satisfaction in a
state-of-the-art corporate environment.
Buffalo/215 Business Park
28
Buffalo Dr. & Post Rd.
Type: Mixed-Use
Developer: Real Estate Group Nevada / Lee Phelps / 702-367-3000
Leasing Agent: Colliers International / Pat Marsh / 702-735-5700
General Contractor: Mission Completed Contractors of Nevada
Date Built: 1st Qtr. 2008
Asking Rates:
Major Tenants:
COMMENTS:
Located just North of the I-215 Beltway at Buffalo and Post, this 271,301 SF industrial and office park is located in Las Vegas' emerging technology corridor. It will consist
of eight office buildings and 24 industrial buildings each with private parking. Buildto-suits available.
32
Developer: EJM Development Co. / Kirk Boylston / 702-597-1852
Leasing Agent: CBRE / Randy Broadhead / 702-369-4800
Architect: JMA
Date Built: Dec-07
Asking Rates: $2.35 SF MG
Major Tenants: Stantec Engineering
29
Arroyo Industrial Phase II
6625 Arroyo Springs St. 7575 W. Sunset Rd. 6560 Tiago
Type: Industrial
Developer: EJM Arroyo North II Property, LLC
Leasing Agent: Colliers International / Spencer Pinter / 702-735-5700
Date Built: Jun-07
Status: Completed
Asking Rates:
Major Tenants: Cort Furniture, Long Building Environments, AVA
COMMENTS:
Arroyo North Phase II is comprised of three buildings totaling 309,000 SF. Building 4 includes exposure to I-215, divisibility to 21,400 SF, 30’ clear height, offices
built-to-suit and dock and grade level loading. Buildings 5 and 6 include spaces
divisible to 5,800 SF, 22’ to 24’ clear heights, dock and grade level loading and
offices built-to-suit.
30
Park West
6365, 6385, 6425 & 6445 Montessouri St.
31
Tenaya Quail Commercial Center
6620 - 6675 S Tenaya Way
Type: Industrial
Type: Office
Developer: Panattoni Development Company, LLC / Jason Kuckler / 702-269-1360
Developer: Jonny Ribeiro Builders, LLC / Jonny Ribeiro
Leasing Agent: Colliers International / Dan Doherty / 702-735-5700
Leasing Agent: Ribeiro / Dan LaLibierte, Margie Campobasso / 702-798-1133
Architect: Kevin Bartlett
General Contractor: Panattoni Construction Co.
General Contractor: Jonny Ribeiro Builder
Date Built: Sept-07
Date Built: Jul-06
Status: Completed
Status: Completed
Asking Rates: $130 - $180
Asking Rates: Office $1.85 MG / Warehouse $.89 MG / Retail $2.60 MG
Major Tenants: JMAC, Interstate, Cliffpoint Investments, Quality Transportation
Major Tenants: BMW Motorcycles, Xyience, BJ's Cocktail Lounge
COMMENTS:
This +/-208,000 SF industrial project, consisting of five individual buildings, was presold prior to construction commencement. The concrete tilt-up buildings have 30'
clear height, ESFR sprinkler systems, ample parking and dock and grade level loading doors.
COMMENTS:
Premiere landscaping, stone facades, excellent location fronting I-215
33
SOUTHWEST
32
Rainbow Sunset Pavilion
6315 S Rainbow Blvd.
33
Rainbow Corporate Center
6252 S Rainbow Blvd.
Type: Office
Developer: PLISE / Jon Field / 702-871-4065
Leasing Agent: CBRE / Randy Broadhead , Brad Peterson / 702-369-4800
Architect: Vedelago Petsch Architects
General Contractor: Plise Development & Construction
Date Built: Apr-07
Major Tenants: First National Bank, Ameriprise Financial, Starbucks,
and The Cracked Egg
Type: Office
COMMENTS:
Centrally located between Summerlin and Green Valley with convenient I-215 beltway
access, Rainbow Sunset Pavilion uniquely combines true Class A professional and
medical office with an abundant mix of retail amenities in one master-planned commercial center.
COMMENTS:
This 65,000 SF office development was developed in two phases with units for sale
from 2,500 to 15,000 SF. These attractive buildings feature 5:1000 parking and an
outstanding location in close proximity to the I-215 Beltway, three new hospitals, and
several new large office/retail developments.
34
Spanish Trail Business Park
4950-4974 S Rainbow Blvd. & 6827-6795 W. Tropicana Ave.
Type: Office
Developer: Investment Equity Development / 702-871-4545 / Dave Inman
702-871-4545
Leasing Agent: Investment Equity Builders / Bob Hommel / 702-871-4545
Date Built: Jul-07
Status: Completed
Asking Rates: Sales price $230-$255 SF
Major Tenants:
COMMENTS:
This 76,000 SF mixed-use development consists of 10,000 SF of retail for lease
fronting Rainbow, and an office campus of 11 buildings for sale with color reader
board signage on both Tropicana and Rainbow. The office units range from 2,05010,000 SF and feature easy access to the Southwestern Valley including three new
hospitals and the 215 beltway.
34
Developer: Investment Equity Developer / Dave Inman / 702-871-4545
Leasing Agent: Investment Equity Builders / Bob Hommel / 702-871-4545
Asking Rates: Sales Price $220-$295
Major Tenants:
35
Post Business Park
Post Rd. & Jones Blvd.
Type: Industrial
Developer: Off Broadway, LLC / David Frear / 702-836-3735
Leasing Agent: Colliers International / David Frear / 702-836-3735
Architect: John Burke
General Contractor: Nevada Building & Development
Asking Rates: 185 SF
Major Tenants:
COMMENTS:
Freestanding Industrial building for sale ranging in size from 5,360 to 15,676 SF.
36
Beltway Business Park
5070 and 5170 Badura Ave.
37
Beltway Business Center - Buildings 6, 7 & 8
6975 Decatur Blvd. 7055 Decatur Blvd. 7135 Decatur Blvd.
Type: Industrial
Developer: Thomas & Mack Development Group / Majestic Realty Co.
Nicola Fryatt / 702-260-1011
Leasing Agent: Majestic Realty Company & Valley Realty / Rod Martin / 702-896-5564
Architect: Commerce Construction
General Contractor: Commerce Construction
Date Built: 3rd Qtr. 2007
Status: Completed
Project Square Footage: 212,500 / 315,000 / 328,250
Major Tenants: Brady Industries, Nevada Power Company
COMMENTS:
Beltway Business Park is a 400-acre master-planned business park located on the
southern side of the I-215 Beltway between Jones and Decatur. At build-out the park
will include 5,000,000 SF of office, distribution and retail facilities. 5070 and 5170
Badura Avenue are single-story flex buildings totaling 66,700 SF.
COMMENTS:
This project is in the third phase of industrial buildings at Beltway Business Park, 400acre master-planned business park in the Southwest Submarket. This phase will feature a building fronting Badura Avenue divisible to 15,000 SF, allowing quasi-retail,
showroom environment.
SOUTHWEST
Type: Office/Flex
Leasing Agent: Thomas & Mack Development / Rick Myers, Nicola Fryatt
702-260-1008
Date Built: Nov-07
Project Square Footage: 30,498 / 36,189
Major Tenants:
UnitedHealthcare
Bringing Affordable Healthcare to Nevada
hospitals, UnitedHealthcare has designed programs that help
or more than 40 years, UnitedHealthcare has
people get the right care at the right place at the right time. The
worked to make the healthcare experience better
company organizes access and coverage for medical services,
for everyone involved, including the more than
prescription drugs, medical devices and diagnostic testing at the
110,000 Nevadans it serves today.
best possible cost. It also offers wellness programs and support
A major part of enhancing Nevada’s healthcare system reto help people stay healthy and use medical care more wisely.
volves around keeping costs under control. About 16 percent of
The safety of its memAmerica’s gross domesbers and quality of care are
tic product is spent on
“A major part of enhancing Nevada’s
priorities for UnitedHealthcosts related to healthhealthcare system revolves around
care, which is why the
care, and that percentcompany has invested
age climbs every year.
keeping costs under control.”
more than $3 billion in new
Many factors contechnology, such as an electronic ID card that automatically
tribute to rising costs, such as more people using medical serupdates a member’s health records and makes it easier for
vices, advancements in medicine and the rapidly increasing
patients and providers to access this information. The elecprice of prescription drugs. Add the growing number of older
tronic record system also streamlines administrative work
Americans and you can see why it’s becoming more difficult
and helps control costs.
for families and businesses to afford health coverage.
To help members make more informed choices, the company deUnitedHealthcare is working to keep healthcare affordable and
veloped the UnitedHealth Premium program. This program identifies
more accessible through innovative technology, forward-thinking
physicians who follow evidence-based guidelines for quality of care
plans and a variety of products and services that help people
and ranks hospitals based on major complication rates, mortality
take a more active role in their own health and well-being. With
rates and patient safety processes for more than 50 procedures.
a national network of more than 535,000 physicians and 4,700
F
36
38
Corporate Gateway III at Beltway Business Park
6770 Edmond St.
Type: Office
Leasing Agent: Thomas & Mack Development / Rick Myers, Nicola Fryatt
702-260-1008
Date Built: Jan-08
Major Tenants:
COMMENTS:
Beltway Business Park is a 400-acre master-planned business park located on the
southern side of the I-215 Beltway between Jones and Decatur. At build out, the park
will include 5,000,000 SF of office, distribution and retail facilities. Corporate Gateway
III, 6770 Edmond Street is a 72,000 SF Suburban Class A office building that features
dramatic architecture, efficient floor plans and sophisticated interior finishes.
39
Decatur Crossing - Phase III
4675 & 4775 W. Teco Ave.
Developer: LaPour / Jeff LaPour / 702-222-3022
Leasing Agent: Colliers International / Greg Pancirov, Mike DeLew, Kevin Collura
702-735-5700
Date Built: Jul-07
Status: Completed
Asking Rates: $0.80 - $0.85 NNN - Warehouse $1.55 - $1.60 NNN - Office
Major Tenants:
COMMENTS:
Decatur Crossing Phase 3 is a high image multi-use development providing flex office/warehouse suites from 2,000 SF and 2nd level office suites from 1,000 SF conveniently located at Decatur & I-215. With 4 /1,000 parking, the suite can be builtout as 100% office.
JM Development’s largest undertaking to date, The
Arroyo, is well underway. Set in the Southwest Valley,
The Arroyo consists of more than 450 acres of premier real estate centered around a natural arroyo. Upon completion, the mixed-use project will contain more than 4.5 million square feet of industrial, office and retail space.
Located on the north and south side of the I-215-Beltway between Rainbow Boulevard and Buffalo Drive, The Arroyo is positioned for easy access to McCarran International Airport, the
Las Vegas Strip and Interstate 15. Its central location between
Henderson and Summerlin offers an easy commute and an
ideal location to service both ends of the Valley.
Arroyo North Industrial, situated north of the Beltway, encompasses 10 buildings totaling 1,013,000 square feet. Phase
II is currently leasing with Spencer Pinter of Colliers International serving as the agent. Arroyo South Industrial, located
south of I-215, will comprise seven buildings totaling 388,500
square feet.
Arroyo Corporate Center, the 1.5-million-square-foot Class A
office component of The Arroyo, is located south of the Beltway
E
and will offer a walking beltway along the arroyo, with interconnecting foot bridges and seating throughout. Phase I is currently under construction with pre-leasing by Randy Broadhead
and Brad Peterson of CB Richard Ellis.
The tenants of Corporate Center will benefit from the proximity of Arroyo Market Square, a 950,000-square-foot power
center, slated to open by the end of 2007. Market Square will
be home to such major retailers as Wal-Mart, Sam’s Club, Home
Depot, Best Buy, Marshall’s, Sports Chalet, Ulta, Ross, Bed Bath
& Beyond, and restaurants such as Mimi’s Café, Chili’s,
Sammy’s Woodfired Pizza and Jason’s Deli. Kit Graski of Voit is
the leasing agent.
Arroyo South Office is located on Warm Springs and Tenaya.
Phase I will consist of three single story office buildings, each
totaling 46,230 square feet with divisibility starting at 5,330
square feet. Tom Stilley and team, of Colliers International are
the leasing agents.
EJM Development is involved in all aspects of real estate development, and has projects throughout the southwest, including Nevada, California, Arizona, Utah and New Mexico.
37
SOUTHWEST
EJM Development
Creating an Arroyo in the Southwest
Eldorado Business Park
40
7445, 7465, 7485 Dean Martin Dr.
Type: Industrial
Developer: Chip Johnson / 702-732-8860
Leasing Agent: Prudential-IPG CRES / Art Farmanali / 702-547-1110
Architect: Pacific Designs
General Contractor: Affordable Concepts
Date Built: 2006-2007
Status: Completed
Major Tenants: Monaco Motor Coach, Maytag Appliances, Hardwood Floors Outlet
38
Blue Diamond Business Center - Buildings 3, 6 & 9
Blue Diamond Rd. & Windmill Ln.
Type: Industrial
Developer: Juliet Companies / Jason Ahlstrom / 702-368-5800
Leasing Agent: CB Richard Ellis / Karolina Janik / 702-369-4800
Architect: Lynn Centner & Associates
General Contractor: J & F Construction
Date Built: 2008
Asking Rates: $0.70 Industrial $1.25 Office
Major Tenants: Outdoor Kitchen Concepts, Sara Lee Bakery, Las Vegas Review Journal,
PODS
COMMENTS:
Blue Diamond Business Center is a 110-acre master-planned business park which at
completion, will feature approximately 1.5 million SF of industrial space. The project
consists of mid-bay and big-box distribution buildings, as well as several build to
suits. Flex office/warehouse space is also in the planning stages.
HENDERSON
COMMENTS:
Master-planned business park. Concrete tilt-up construction with frontage on Dean
Martin Dr. Located just north of Blue Diamond Rd., the property has 5,000 SF bays
with 24' clear height and great visibility near I-15 and McCarran International Airport.
41
Henderson Office Submarket Overview
By David Flynn, Lee & Associates
he Henderson office submarket is
loosely defined as the area between the Las Vegas Strip and
Pecos Road south of Windmill Lane, together with the area east of Pecos Road
and south of Sunset Road. The submarket currently consists of approximately 7,089,075 square feet in 356
buildings. This supply is up more than
David Flynn
11.3 percent with 35 new buildings
from the previous year. As of the second quarter 2007, the vacancy rate was 17.20 percent. This is up from last years’ 13.20 percent which reflects the weak 2007 year-to-date absorption of
81,000 square feet in this submarket.
Lease rates have continued to rise with the submarket’s average rate on a full service basis hitting $2.46 per square foot, with
many newer projects showing rates much higher. Tenant improvement allowances on new projects are also starting to rise into the
$45 to $50 per square foot range as the cost of constructing improvements becomes a bigger issue in completing leases.
Current developments include: Steelhead Development’s
T
100,000 square feet Tuscano Medical Parc adjacent to St. Rose’s
Siena Campus; the 65,000 square feet 1505 E. Wigwam Avenue
property at Stephanie; CityScape, a 167,000 square feet development for lease or sale along the I-215 at Stephanie; the 52,000 SF
Pebble Place at Eastern Avenue by Anchor Development; the
30,000 square feet Stephanie & I-215 Marketplace; the 125,000
square feet Beltway Corporate Center at Eastern & I-215; the
63,000 square feet Pecos Springs Business Park at Warm Springs
Road; American Nevada’s under construction 135,000 square feet
four-story Class A building in Green Valley Corporate Center, which
is already 50 percent pre-leased; the 33,000 square feet Viewpoint
Professional Center just completed on Eastern Avenue near Windmill Lane; and the six-story, 140,000 Eastgate Phase II at
Stephanie Avenue and Warm Springs Road.
The I-215 corridor seems to be the epicenter of activity in
this submarket. While we are seeing exciting activity in the
Stephanie & I-215 area, a large amount of the future growth will
certainly move west along St. Rose Parkway. Plise’s 125-acre,
$2 Billion dollar City Crossing development, with more than
1,000,000 square feet of office space planned appears ready to
get under way.
Henderson Industrial Submarket Overview
By Patti Dillon, Colliers International
D
prices in Henderson range from $12 to $16 per square foot for
parcels under 20 acres and between $17 to $20 per square foot
for larger developable parcels. At these prices, Henderson is approaching lease rates and sale prices equivalent to those of the
southwest and airport submarkets.
A number of master-planned industrial developments are currently planned and under construction in Henderson that will service the needs of local and national manufacturing and distribution
operations. Conde Del Mar is under construction on 155,832
square feet of office/showroom/warehouse space at Valley Freeway Center. Phase III will be completed November 2007. Lease
rates will range from $0.70 to $0.75 per square foot NNN. Blevins
Industrial Associates is under construction on +/-156,000 square
feet at Traverse Point Distribution Center (formerly Wigwam Distribution Center). The building will be completed November 2007,
and lease rates range from $0.60 to $0.65 per square foot NNN.
Pacific Business Center will complete +/-94,937 square feet of
mid-bay space in December 2007 with lease rates ranging from
$0.55 to $0.75 per square foot NNN. Gibson Wigwam Business
Center, will deliver +/-26,133 square feet of flex space with asking rates of $0.75 to $0.80 per square foot NNN.
39
HENDERSON
espite the economic slow down
and rising construction costs, new
industrial development in Henderson has continued to increase with +/466,132 square feet of completed construction and +/-754,187 square feet
currently planned and under construction development in second quarter of
2007. With a positive net absorption of
Patti Dillon
+/-397,940 square feet, the demand for
industrial properties continues to exceed supply in this area.
Current vacancy in Henderson stands at 3.7 percent, up from
3.0 percent last quarter and compared to an overall market vacancy of 4.4 percent. The average lease rate for industrial space in
Henderson has increased $0.02 per square foot to $0.77 per
square foot NNN. A shortage of industrial land in Henderson, and a
demand for more mixed-use projects will cause industrial rents to
continue increasing.
With a limited supply of land zoned for industrial use in Henderson, the city is looking to the BLM to expand its borders farther
south to ensure its long-term economic growth. Current land
Silver Creek Office Park
42
9708-9816 Gilespie St.
Henderson Quail Commercial Aviation & Air Centers
Executive Airport Dr. & St. Rose Pkwy.
Type: Office
Type: Office
Developer: Gaming Guaranty LLC / Carolyn Petrie / 702-434-3500
Developer: Jonny Ribeiro Builders, LLC/ Jonny Ribeiro
Leasing Agent: Resource Realty / Carolyn Petrie / 702-434-3500
Leasing Agent: Ribeiro / Dan LaLibierte, Liz Horton / 702-798-1133
Architect: Jerry Miceli
Architect: Jonny Ribeiro Builders
General Contractor: Revolution Development
General Contractor: Jonny Ribeiro Builders
Date Built: May-07
Date Built: Aug-07
Status: Completed
Project Square Footage: 130,000/Total Project 700,000
Asking Rates: Office $2.00 NNN Purchase $210-$225 SF Hanger $1.50 NNN
Major Tenants: Liberty Realty, US Funding, Cornerstone Mortgage, James Industries.
Major Tenants: Maverick Airlines, Life Guard International
COMMENTS:
South Strip. Three blocks to I-15 interchange on Silverado Ranch Blvd. INTERCHANGE
OPEN. CP zoned single story garden office park - blocks east of South Point Casino. 5
Buildings complete - 42,500 SF. Currently 16,000 SF Available. Upon completion, 11
buildings for a total of 86,500 SF.
COMMENTS:
Private/corporate hangar and office project
H bizctr I @ Whitney Mesa
59
HENDERSON
43
1851 to 1891 Whitney Mesa Dr.
60
H bizctr 2 @ Whitney Mes
Mountain Vista St. & Whitney Mesa Dr.
Type: Office / Industrial
Developer: Hedley Construction & Management Co. / Ken Hansen / 714-437-1122
Developer: Hedley Construction & Management Co. / Ken Hansen / 714-437-1122
Leasing Agent: New Growth Commercial Real Estate Company / Bridget Richards
Leasing Agent: New Growth Commercial Real Estate Company / Bridget Richards
702-290-8838
702-290-8838
General Contractor: Brooks Corporation
General Contractor: Brooks Corporation
Date Built: Feb-07
Date Built: Sept-07
Status: Completed
Status: Completed
Asking Rates: $180 - $244 SF
Asking Rates: $180 - $229 SF
Major Tenants:
Major Tenants:
COMMENTS:
These upscale flex condos are close to US-95 and I-215, located minutes from downtown and the airport. Buildings range from 3,500 to 7,400 SF. Perfect for supply, design, engineering and architectural owner-user clients.
COMMENTS:
These upscale flex condos are close to US-95 and I-215, located minutes from downtown and the airport. Buildings range in size from 1,811 to 36,570 SF. Perfect for supply, design, engineering and architectural owner-user clients.
40
61
Eastgate Plaza II
450 N. Stephanie St.
62
Valley Freeway Center Phase III
7705, 7715 & 7735 Commercial Way
Type: Industrial
Developer: Conde Del Mar Properties / Steve Groat / 702-856-3235
Leasing Agent: Colliers International / Greg Pancirov, Mike DeLew, Kevin Collura
702-735-5700
Architect: Ron Wilson Architecture
General Contractor: Solid Construction
Date Built: Oct-07
Asking Rates: $0.68 - $0.75 - Warehouse $1.18 - $1.35 -Office
Major Tenants:
COMMENTS:
Eastgate Plaza II will be the premier Class A, mid-rise office building in Henderson.
Rising six stories above the major commercial corridor along N. Stephanie St. Eastgate Plaza II will be the tallest office building in Henderson and will offer breathtaking
views and the finest amenities to its tenants.
COMMENTS:
Valley Freeway Center Phase 3 is a mixture of mid-bay distribution, incubator and
freeway showroom suites. It is located in the Henderson submarket just east of the
Valley Auto Mall and immediately off the Auto Show Dr. off-ramp. Suite sizes start at
1,900 SF with dock and 5,700 SF fronting the Freeway.
HENDERSON
Type: Office
Developer: United Insurance Company of America / Thomas & Mack Development
Group / Mike Byrne / 702-260-1008
Leasing Agent: Grubb & Ellis / David Scherer / 702-733-7500
General Contractor: Summit Builders
Date Built: Jun-08
Asking Rates: $2.45-$2.65 MG
Major Tenants:
42
63
Henderson Commerce Center IV - Phase II
Buildings J-N Warm Springs Rd. & Eastgate Rd.
Type: Industrial
64
Pacific Business Center Phase IV
Gibson Dr.& American Pacific Rd.
Major Tenants:
Type: Industrial
Developer: Voit Development Company & Northwestern Mutual Life Insurance
Company / Rich Dooley / 415-439-6120
702-734-4500
General Contractor: Burke & Associates, Inc.
COMMENTS:
Henderson Commerce Center IV is a master-planned business park situated on 49
acres in Henderson. The park consists of 11 buildings totaling 750,000 SF of flex/office, light distribution, and distribution space. Phase II will consist of five light buildings totaling 240,000 SF.
COMMENTS:
Pacific Business Center Phase IV is the final phase of this master-planned industrial
park. It will feature two midbay buildings of 44,338 SF and 50,599 SF with frontage
on American Pacific Drive. Additionally there is a 121,380 SF front loading distribution
building that is divisible to 27,625 SF.
Developer: Harsch Investment Properties / John Ramous / 702-362-1400
Leasing Agent:
Architect: VLMK Consulting Engineers
Date Built: 2nd Qtr. 2008
Asking Rates:
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43
ROEL Construction Co.
Delivering 90 Years of Construction Excellence
s ROEL celebrates its 90th anniversary, it continues to
thrive not only in the San Diego construction marketplace where its long been a household name, but in its
newer corporate sites in Las Vegas, Bullhead City and Palm
Desert. Founded on integrity, quality and trust, ROEL has been delivering construction excellence for nine decades. Whether the job
involves small tenant improvements or large scale new construction, ROEL provides a wide array of expertise to ensure an unparalleled client experience.
ROEL attributes its continued success to people, relationships and trust. A testament to this ongoing dedication to
client satisfaction, ROEL has nine times received the Large
General Contractor of the Year award by both the Associated
General Contractors and the American Subcontractors Association. Additionally, the 2007 McGraw-Hill Engineering NewsRecord ranked ROEL 209 amongst the nation’s 400 largest
general contractors.
Launched in 1993, the Las Vegas office of ROEL Construction is verging on another record setting year. Most notably,
ROEL recently completed the construction of the corporate offices of Boyd Gaming. The complete build out of this four-
A
44
story 109,000 square-foot building includes demolition, concrete block, structural steel, interior metal stud framing, finishes, mechanical, electrical, plumbing and site work. Among
other 2006 – 2007 completed projects:
• National University campus in Henderson - This project consisted of tenant improvements of a new shell building. Today the
university boasts a new state-of-the-art 11,323-square-foot facility offering computer-equipped classrooms, a full-service computer lab, and multi-media lecture rooms for classes, meetings
and professional rental.
• Towbin Hummer in Las Vegas - a 43,000-square-foot dealership including a high-end showroom, state-of-the-art service department and corporate offices.
• Dinners Ready in Las Vegas – a 1,775-square-foot kitchen
and food preparation facility.
• Lamplight Square in Henderson – 900-square-foot clubhouse
inclusive of a kitchen and media area as well as a swimming pool
and spa.
• Runvee Hobart Clubhouse in North Las Vegas – a 13,100square-foot community clubhouse featuring a billiard room, fitness room, aerobics room, saunas, cabana, and gatehouse.
Traverse Point Distribution Center
65
880 Wigwam Pkwy.
66
Stephanie/215 Marketplace
Stephanie St. & I-215
Type: Industrial
Type: Office
Developer: Interex of Nevada / Tony Olbres
Developer: Lyle Brennan Investments / Christopher Richardson / 702-385-5999
Leasing Agent: Colliers International / Dave Frear / 702-735-5700
Leasing Agent: Christopher Richardson / 702-385-5999
Architect: Design Build
Architect: Pacific Design Concepts
General Contractor:
Date Built: Jul-07
Date Built: Early 2008
Status: Completed
Status: Planned
Asking Rates:
Major Tenants:
Major Tenants: Nevada Business Journal, ReD Report
COMMENTS:
Freestanding state of the art distribution center situated on 9.68 acres on Wigwam
Pkwy. This building features 4000 amps of three-phase power, 30' clear height and
ESFR sprinklers. It is divisible to 20,000 SF with yard and trailer storage available.
COMMENTS:
Stephanie/215 Marketplace will offer a unique mixed-use office and retail center in a
very prominent location. The center will feature panorama views of the Las Vegas skyline and have great freeway visibility.
Green Design Trends
SH Architecture Paving the Way for Greener Valley
ergy than a standard facility of this size thanks to this holistic
H Architecture is designing Cashman Equipment’s
design approach.
new headquarters, which consists of seven buildSimilarly, SH Architecture is designing the new SPWB’s
ings totaling over 290,00 square feet on more than
Campos Parole and Probation office building. This five story
60 acres in Henderson. This project will house Cashman
75,000-square-foot
Equipment’s administrabuilding located in the
tive offices, repair and
“SH Architecture’s design will take advantage of heart of downtown will
maintenance facilities,
be replacing the existing
power solutions division,
natural opportunities for heating and cooling
facility. The new Campos
parts department and the
Parole and Probation ofto reduce the buildings’ use of energy.”
rental store. Upon complefice building is designed
tion, Cashman
Equipto be efficient in strucment’s buildings will be
ture and cost. It maximizes the use of natural day lighting to
LEED Gold certified, one of only a handful of LEED certified
reduce energy consumption and low-water-use plumbing fixbuildings in the west, and the first facility of its kind in the entures to minimize water usage.
tire nation to achieve the Gold level certification.
SH Architecture is a leader in sustainable design and strives
SH Architecture’s design will take advantage of natural opto inspire clients and communities to new levels of environportunities for heating and cooling to reduce the buildings’ use
mental awareness.
of energy. One example is a geothermal ground loop system that
The way SH Architecture does business is a reflection of the
will store excess building heat during the summer until it is
company’s sustainable philosophy. SH Architecture embodies
needed in the cooler months. This eco-friendly solution saves 20
ideas for sustainable solutions that meet the needs of and edpercent more energy than standard HVAC systems. What’s more,
ucate its clients.
Cashman Equipment on a whole will save 45 percent more en-
HENDERSON
S
46
1505 E. Wigwam
67
1505 E Wigwam Pkwy.
68
The District at Green Valley Ranch
120 & 170 S Green Valley Pkwy.
Type: Office
Type: Office
Developer: Wilo West Investment Partners III, LLC
Developer: American Nevada Company / Charles Van Geel / 702-458-8855
Leasing Agent: CBRE / Jan Hoback, Carla Cole, Bruce Follmer / 702-369-4800
Leasing Agent: American Nevada Company / Charles Van Geel / 702-458-8855
Architect: Valentiner Crane
Architect: JMA
General Contractor:
Date Built: 4th Quarter 2007
Date Built: May-06
Status: Completed
Major Tenants: Nevada Orthopedic & Spine Center, Matt Smith Physical Therapy,
Advanced Prosthetic and Orthopedics
COMMENTS:
Main lobbies in the second and third floors of these buildings incorporated natural
stone flooring, wood paneling, classically detailed light fixtures, original artwork and
live plants, creating a sense of elegance upon arrival.
HENDERSON
COMMENTS:
65,000 SF medical office building located on the new HCA Hospital Campus to be constructed at Stephanie St. & I-215.
Major Tenants: First Comp Insurance, Silver State Bank, Charles Schwab,
Dunbar Commercial
48
69
2360 Corporate Circle
2360 Corporate Circle Dr.
Type: Office
Developer: American Nevada Company / Charles Van Geel /702-458-8855
Architect: TKC Design PC
Date Built: Jun-06
Major Tenants: Vegas, Showbiz & In-Business Magazine, associated with Greenspun
Media Group
COMMENTS:
2360 Corporate Circle is designed to meet the needs of high profile tenants in a fourstory, Class A building. Targeted for LEED certification, this project offers adjacent
structural paring, sleek elevations and sophisticated interior features. Expansive
valley views, freeway visibility and amenities.
70
Venture Carmichael Plaza
Horizon Ridge Pkwy. & Carmichael Way
Type: Office
Architect: PGAL
General Contractor: Lusardi Construction
Date Built: May-08
Asking Rates: $2.00-$2.25 NNN / $260 For Sale Shell
Major Tenants:
COMMENTS:
Venture Carmichael Plaza is a Class A design, 60,000 SF, two-story building in Henderson (Southeast Las Vegas) ideal for medical, dental and professional offices ranging in size from 1,500 to 4,500 SF. Venture Carmichael Plaza is located in the heart of
Green Valley Ranch, surrounded by residential and commercial retail, including the
District at GVR and the Green Valley Ranch Resort/Casino.
HENDERSON
49
Tuscano Medical Parc
71
10521-10581 Jeffereys St.
72
Beltway Corporate Center- Phase II
8965-8985 Eastern Ave.
Type: Office
Type: Office
Developer: Steelhead Development, Inc. / Argo Corporation
Developer: DSA Development / Daryl Alterwitz / 702-735-0061
Leasing Agent: Lee & Associates / Chuck Witters / 702-739-6222
Leasing Agent: CBRE / Randy Broadhead / 702-369-4800
Architect: Gerald Garapich
General Contractor: Steelhead Development
Date Built: Dec-06
Date Built: Aug-06
Asking Rates: $2.00 SF NNN
Major Tenants: Kimball Hill Homes, Ford Motor Credit
Major Tenants:
COMMENTS:
Park like grounds, Tuscany Mediterranean architecture, five single-story buildings
from 7,750 SF to 12,000 SF extensive use of Italian tile in building common areas,
generous tenant improvement allowance.
COMMENTS:
Beltway Corporate Center is a professional office development that will be comprised
of two three-story buildings totaling +/- 128,000 SF. Convenient location off the I-215
at Eastern Avenue offering freeway visibility, accessibility and within minutes of McCarran Airport.
HENDERSON
HONESTY • CUSTOMER SERVICE • INTEGRITY
S P E C I A L I Z I N G I N :
• Commercial Business Complexes
• Homeowners Associations
• Master Associations
• Planned Unit Developments
• Condominium Complexes
• Apartment Complexes
• High Rises
• Lessors Risk Exposures
50
Brian Berg
949-439-7872
[email protected]
Nevada
10161 Park Run Dr., Ste. 150
Las Vegas, NV 89145
702-835-6984
California
23661 Birtcher Dr.
Lake Forest, CA 92630
949-243-0899
73
Pebble Place Business Center
2190 & 2140 E Pebble Rd.
74
Viewpointe Professional Office Center III
8235 S. Eastern Ave.
Type: Office
Developer: Viewpointe Professional Office Center III, LLC / Chip Johnson
702-732-8860
Leasing Agent: Lee & Associates / Chuck Witters, David Flynn / 702-739-6222
Architect: Perlman Architects
Date Built: 2007
Status: Completed
Major Tenants:
COMMENTS:
Pebble Place Business Center, Pebble Place features two two-story buildings totaling
almost 52,000 SF with a lushly landscaped courtyard and highly upgraded lobby
areas, as well as unparalleled conveniences within the Eastern & I-215 area. Suites
are available from +/- 1,000 SF. Full floor space is available.
COMMENTS:
Class A corporate style office park environment with high visibility located by
major arterial and close to McCarran Airport. Four two-story office buildings,
professionally decorated with air conditioned garages, document storages on-site
and covered parking available.
HENDERSON
Type: Office
Developer: Anchor Development, Inc / James Wilmot / 702-253-7600
Leasing Agent: Colliers International / Suzette La Grange, Ryan Martin, Chris Jensvold
702-735-5700
Architect: James E. Stroh
Date Built: Apr-07
Status: Completed
Asking Rates: $1.80-1.90 NNN
Major Tenants: Anchor Development, Dr. Craig Hamilton, James E. Stroh Architect, Inc.,
Skywire Media
52
G AT S K I C O M M E R C I A L R E A L E S TAT E S E RV I C E S
Fast-growing company
expands scope of services
From left, Lannie Neal, Sharon Strehlow, Frank Gatski, Rob Lujan
and Jason Simon of Gatski Commercial Real Estate Services
hile the homegrown Gatski Commercial Real Estate Services has
more than 4 million square feet in
its portfolio, clients continue to receive personalized services not often found at other
large firms.
“All of our services are customized, we
can sit down and figure out what is best for
and with the client,” said Frank Gatski, CPM,
CCIM, president of the Las Vegas-based
Gatski Commercial Real Estate Services.
Leasing has become a large part of what
the company does, much of it from the
ground up for local developers.
Richard Crighton, partner in Nevadabased RCS Development, is working with
Gatski Commercial Real Estate Services on
the leasing and property management of
three ground-up retail centers in Southern
Nevada. Crighton was referred to Gatski
Commercial by another broker and said he
was immediately attracted by the company’s
W
From Left: Lannie Neal and Frank Gatski of Gatski Commercial
pictured with clients Iain Finlayson and Jason Awad of Pavilion.
Inc. magazine recently named Gatski Commercial as one of
the 5000 Fastest Growing Private Companies in America.
N E V A D A
expertise. “Gatski Commercial proves
every day that their effort will not stop until
the projects are leased. They are the definition of persistence,” Crighton said.
As Gatski Commercial continues to
grow, it hasn’t lost sight of its core business and the heartbeat of the company:
property management.
Charleston Pavilion, LLC retained
Gatski Commercial as its property management company for Pavilion, a
154,000-square-foot Class A office building at 10801 W. Charleston Blvd. in the
Summerlin Centre.
Jason Awad and Iain Finlayson of Pavilion welcomed Gatski Commercial Real Estate Services to the management role.
“Gatski Commercial has a reputation for
credibility, reliability and integrity,” Awad
said. ”Also, as long-time Las Vegas residents, we especially like the fact that the
company is locally owned.” Finlayson said,
“Frank and his staff seem focused on results, and we like that."
Ken Kirchmeyer, president of the
Hawaii-based Kirchmeyer Development
Corporation owns approximately 64,000
square feet of commercial space in
Southern Nevada. “Frank Gatski and his
staff have done an excellent job in
B U S I N E S S
J O U R N A L
managing our three buildings and we
have all become good friends,” Kirchmeyer said. “The ‘Gatski Team’ has worked
hard to keep our buildings in repair and
looking nice; they have a good relationship with our lessees and keep a very low
to mostly zero vacancy factor. They also
provide excellent monthly financial statements, accounting for every dollar. If there
was an award of five stars for the best
management company in Las Vegas, we
are sure that it would be given to Gatski
Commercial Real Estate Services.”
Gatski Commercial has developed systems and procedures to handle a variety of
services in-house that many competitors
tend to outsource, such as landscaping,
building maintenance, emergency response, mold remediation and a new business brokerage service.
“It’s always been my experience in this
business, that you are only as good as the
people you have working for you,” Gatski
said. The company will soon debut more
in-house services, bringing more added
value for clients.
Gatski Commercial
4755 Dean Martin Dr
Las Vegas, NV 89103
(702) 221-8226
www.gatskicommercial.com
A D V E R T O R I A L
75
Pecos Springs Business Park
7395 S. Pecos Rd.
76
Shea at Sunset
3602-3656 E. Sunset Rd.
Type: Office
Developer: Pecos Springs LLC / Chip Johnson / 702-732-8860
Leasing Agent: Commercial Executives / Soozi Jones Walker, Bobbi Miracle
702-316-4500
Architect: Perlman
Date Built: 1st-2nd Quarter 2008
Major Tenants:
Developer: SAXA, Inc / Lucinda Stanley / 702-592-1196
Leasing Agent: Prudential-IPG CRES / Darlene Sandri / 702-363-7600
General Contractor: Caviness Construction Company
Date Built: Jul-07
Status: Completed
Asking Rates: For Sale $200-$225 SF
Major Tenants: The International School of Hospitality, General & Geriatric Psychiatry by
Dr. Ngo
COMMENTS:
$40 SF tenant improvement alowance with the HVAC and concrete on the shell. The
beautiful center is being developed with nine buildings. Stone accents, great parking
ratios, and easy access into the center from Pecos or Warm Springs. Covered Parking
will be available.
COMMENTS:
Industrial / Office 10-acre mixed-use park with 118,000 SF. A few opportunities remaining for 1,250 to 5,100 SF office suites to purchase. Construction complete, beautiful architecture. Located close to McCarran Airport, 215 Beltway & I-15. Attractively priced from $200 SF Gray Shell or $270 SF for a built-out office.
Pavilion
Shines In Summerlin Centre
way,” he said, referring to the natural stone and stunning
avilion, a 154,000-square-foot class A office buildglass frontage.
ing at 10801 West Charleston Blvd. in Las Vegas, is
Awad’s long-time colleague Iain Finlayson serves as manthe jewel of Summerlin Centre, a 400-acre commuaging director of Pavilion, overseeing tenant coordination,
nity being developed by The Howard Hughes Corp.
leasing and overall management. “Iain understands that
The area surrounding Pavilion will include office buildings,
Pavilion is not just a
condominiums, homes
building to our tenants
and shopping within
“Our goal was for a building that would be loved and he ensures that
close proximity to the
clients are receiving
I-215 Beltway.
by the community with architectural elements
Class A service,” Awad
A number of high prothat were truly Class A in every way.”
said. “Iain pays great atfile tenants will office at
tention to important dePavilion, including City
tails and is a big reason
National Bank, Fertitta
for the success of Pavilion.”
Enterprises, UBS, TD Ameritrade, Harris & Associates, Hill InCharleston Pavilion, LLC plans to develop other office and
ternational, Station Casinos and others.
retail projects in the Summerlin Centre area. “The area is very
Jason Awad of Charleston Pavilion, LLC said Pavilion was
hot and the demand is certainly there,” Awad said. “Sumoriginally conceptualized as two three story buildings. Awad
merlin Centre is a premiere location in Southern Nevada. We
went through the rezoning process for a six story structure on
certainly would like to have the opportunity to do more work
the site in order to better spotlight some of the building’s focal
in that area.” He added that they are also looking to develop
points, which include spectacular views and balconies. “Our
a Class A office building on the southwest side of Las Vegas,
goal was for a building that would be loved by the communinear the Buffalo/Durango corridor.
ty with architectural elements that were truly Class A in every
HENDERSON
P
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MCC-5 Marnell Corporate Center
Town Square
701 Shadow Lane Office Building
Molasky Corporate Center
Venture Centennial Hills Center
Cheyenne Fairways Business Center
Las Vegas Tech Center II
Parkway Pointe
Pavilion
Stone Canyon Professional Park
The Gardens Plaza
Venture Hualapai Pavilion Commons
Venture Professional Center Ft. Apache
Manhattan West
Desert Canyon Business Park
LaPour Corporate Center
The Park at Spanish Ridge
Discovery Gateway Park
Copper Pointe Business Park
Durango Village
Village Business Park located in The West Village
Durango Warm Springs Medical
MacFarlane Medical Center
The Arroyo-Single Story
The Arroyo Corporate Center
Buffalo/215 Business Park
Arroyo Industrial Phase II
Park West
Tenaya Quail Commercial Center
Rainbow Sunset Pavilion
Rainbow Corporate Center
Spanish Trail Business Park
Post Business Park
Beltway Business Park
Beltway Business Center - Buildings 6, 7 & 8
Corporate Gateway III at Beltway Business Park
Decatur Crossing - Phase III
Eldorado Business Park
Blue Diamond Business Center - Buildings 3, 6 & 9
Silver Creek Office Park
Henderson Quail Commercial Aviation & Air Centers
NorthPort Business Center, Phase III & IV
Cheyenne Commerce Center - Phase II
Civic Center Corporate Park
ProLogis Park North at North Las Vegas - Building 3
The Park at Northpointe
Cannery Commerce Center
Golden Triangle Industrial Park - Building F & G
Camino al Norte Office Park
Aliante Corporate Center
Centennial Pkwy. & Mt. Hood St.
VenturePointe Speedway Commerce Center
Speedway Commerce Center - Phase II
Northern Beltway Industrial Center - Buildings A & B
Cheyenne Industrial Center
NorthEast Crossing Commerce Center
H bizctr I @ Whitney Mesa
H bizctr 2 @ Whitney Mesa
Eastgate Plaza II
Valley Freeway Center Phase III
Henderson Commerce Center IV - Phase II
Pacific Business Center Phase IV
Traverse Point Distribution Center
Stephanie/215 Marketplace
1505 E. Wigwam
The District at Green Valley Ranch
2360 Corporate Circle
Venture Carmichael Plaza
Tuscano Medical Parc
Beltway Corporate Center- Phase II
Pebble Place Business Center
Viewpointe Professional Office Center III
Pecos Springs Business Park
Shea at Sunset
Arrowhead 21
Tuscano Professional Parc
Venture Commerce Center
Pama Lane Business Park
Equipment Management Technology Center
740 @ Hughes Airport Center
Sunset Pilot Plaza
North Las Vegas Office Submarket Overview
By Chris Jensvold, Colliers International
“Developers are still anticipating that many small office users
will come from future housing developments such as the
master-planned community Aliante.”
urrently, the north offers about
720,000 square feet total of existing office space, this is twice
Chris Jensvold
the amount of existing square feet
from the previous year. About 35 percent remains vacant and
there is another 80,000 square feet under construction. The past
couple of years have shown increases in interest rates, construction costs and land values. During that time, many developers were still able to take advantage of the north’s less expensive
land. Developers are still anticipating that many small office
users will come from future housing developments such as the
master-planned community Aliante. This combined with the current attraction of affordable housing and the city’s redevelopment
plans, North Las Vegas is in a great position for future absorp-
C
tion. Many present business owners do not live in the North Las
Vegas area and have not yet realized the opportunity that exists
to service the rapidly growing population in the area. Sales prices
for free standing office buildings in the north are currently between $185 and $230 per square foot. Rental rates are at an average of $2.58 per square foot, full service gross. This is up about
10 percent from the previous year.
Some notable projects in the area include Centennial Corporate Center by Plise, a three-story Class A building for lease located just west of US 95 and Ann Road. The Park at Northpointe by
PLISE is located on Martin Luther King Boulevard between Craig
and Alexander roads. First phase of construction is finished and
upon completion, the project will total approximately 100,000
square feet.
North Las Vegas Industrial Submarket Overview
By Suzette La Grange, Colliers International
he North Las Vegas submarket is
bordered by Lake Mead Boulevard to the south, Decatur Boulevard to the west, Nellis Boulevard to
the east and extends beyond the I-215
Beltway to the north. As of the second
quarter 2007, the submarket consists
of nearly 27.8 million square feet of
industrial space, which represents
Suzette La Grange
more than 29 percent of all industrial
space in Southern Nevada. Over the past year, the vacancy rate
in North Las Vegas increased slightly from 3.9 percent in the
second quarter 2006 to 4.8 percent at the end of the second
quarter 2007. Approximately 1.3 million square feet of space is
vacant. North Las Vegas is the most active industrial submarket
in Southern Nevada with 40 percent of all net absorption occurring in the North Las Vegas area.
Industrial space in North Las Vegas is occupied by major distribution or manufacturing companies that service the entire
west or southwest United States. Over the past year, many companies that service the local market have expanded or relocated
NORTH LAS VEGAS
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to North Las Vegas. Lease rates have increased an average of 15
percent over the last 12 months with rates for distribution space
at $0.42 to $0.50 per square foot per month net, $0.60 to $0.70
square foot per month for mid-bay dock-high space, and $0.75
to $0.90 square foot per month net for flex and incubator type industrial space. The lease rates in the North Las Vegas area are 20
percent less than the rates in the Southwest submarket due to
the lower land costs in North Las Vegas. However, over the last
12 months, asking prices for land in North Las Vegas are around
$12 per square foot from $6.00 to $8.00 per square foot in early
2005, to more than $10.00 per square foot in many locations.
Many developers still find it hard to pencil industrial warehouse
buildings given the high land values and construction costs.
North Las Vegas is well positioned to take advantage of tenants leaving the Southwest and Airport submarkets where space
is more expensive and new inventory is limited. With more than
1.2 million square feet under construction and 2.4 million square
feet planned, tenants will find a nice selection of alternatives in
North Las Vegas over the next 12 months. However, with 2.8 percent vacancy rates in North Las Vegas distribution space, they
will have to wait for new product to be completed.
NorthPort Business Center, Phase III & IV
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3525, 3575 & 3675 W. Cheyenne Ave.
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Cheyenne Commerce Center - Phase II
720 & 730 Cheyenne Ave.
Type: Office
Type: Industrial
Developer: Jackson-Shaw Company / Ralph Murphy / 702-732-7400
Leasing Agent: Grubb & Ellis / David Scherer / 702-733-7500
Leasing Agent: Harsh Investment Properties
Architect: VLMK Consulting Engineers
Date Built: Jun-06
Date Built: Oct-06
Status: Completed
Status: Completed
Project Square Footage: 1-33,009 / 2-33,009 / 3-29,067
Asking Rates: Phase III - $1.35 NNN Phase IV - $1.60 NNN
Asking Rates: $0.85-$1.45 Net
Major Tenants: Jaynes Corporation, Payroll Solutions, MTS Cabinets
Major Tenants: Silver State Helicopters, Staffmark, City Mortgage
COMMENTS:
NorthPort Business Center was designed with varying clear heights, parking ratios,
overhead door availability, etc. In an effort to accommodate many business uses. Phase
III is (2) single-story office/flex buildings totaling 66,000 SF. Phase IV is the only twostory Class A office building located within the Cheyenne Technology Corridor.
COMMENTS:
Cheyenne Commerce Center Phase II is an office/warehouse property featuring custom
designed suites of "hi-tech" flex space. Cheyenne Commerce Center Phase II offers
units ranging in size from 873 to 5,775 SF with 18' clear height in Building B, as well
as grade level and dock high loading doors.
SUBMARKET SPONSOR
Civic Center Corporate Park
3858 & 3868 Civic Center Dr.
Type: Industrial
Developer: Panattoni Development Company / Ben Campbell / 702-269-1360
Leasing Agent: CB Richard Ellis / Donna Alderson, Greg Tassi / 702-369-4800
Architect: Tectonics Design Group
Date Built: Nov-07
Asking Rates: $1.70 - $1.75
Major Tenants: Pape Rents
COMMENTS:
Available for delivery in the 4th quarter of 2007, this M-2 zoned +/-14-acre masterplanned business park will include 4 buildings from +/-16,000 to +/-100,000 SF in
size. The high image concrete tilt-up buildings will include features like an 18' to 30'
clear height, a 48' truck apron, ESFR sprinkler systems, and ample 277/480 3-phase
power service.
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NORTH LAS VEGAS
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supporting NAIOP!
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ProLogis Park North Building 16
3837 Bay Lake Trail
Type: Industrial
Developer: ProLogis Trust / Pat Welsh / 702-891-9292
Leasing Agent: Colliers International / Suzette La Grange, Dan Doherty
702-735-5700
Architect: Blakely, Johnson & Ghusn Inc.
General Contractor: United Construction Company
Status: Completed
Project Square Footage: 2,100,000
Asking Rates: TBD
Major Tenants: Bed Bath & Beyond, CDW Corp., Pride Mobility
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The Park at Northpointe
4040-4130 Martin Luther King Blvd.
Type: Office
Developer: Glen, Smith & Glen Development / Kenneth Smith / 702-212-9400
Leasing Agent: Colliers International / Jimmy Marsh / 702-735-5700
Date Built: Nov-06
Status: Completed
Asking Rates: $1.85-$2.05/ SF NNN / $185-$205/ SF Shell for Sale
Major Tenants: Pain Wellness Center, Pentagon Studios, TLC Dental
COMMENTS:
The Park at Northpointe is a 9.37-acre development featuring 18 single-story buildings
ranging from 4,200 to 7,200 SF and are for sale or lease. Features include sophisticated architectural style with stone exterior building accents. Property located at the center of North Las Vegas’ retail corridor on Martin Luther King Boulevard and Craig Road.
NORTH LAS VEGAS
COMMENTS:
Prologis Park at North Las Vegas is a 2.1 million SF - 102-acre master-planned industrial park. Building 16 is a cross-dock, concrete tilt-up building divisible to units of approximately 52,000 SF. Additional buildings are planned and build-to-suit opportunities
are available within the park.
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Cannery Commerce Center
Berg St. & Craig Rd.
Type: Industrial
Developer: SDS, LLC Development
Architect: Smith Consulting Architects
General Contractor: Lusardi Construction Company
Asking Rates:
Major Tenants:
COMMENTS:
Available for delivery in the 4th quarter of 2007, this M-2 zoned, 10-acre masterplanned business park will include three buildings from 43,500 to 60,000 SF in size.
The concrete tilt-up buildings include 18’ to 24’ clear height, 95’ to 162’ truck court,
fire sprinklers and ample 277/480 volt three-phase power service. Property located on
Berg Street, north of Craig Road and west of I-215.
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Golden Triangle Industrial Park - Building F & G
Building G
Type: Industrial
Developer: Operating Engineers Funds
Architect: HPA
General Contractor: ConAm
Date Built: Jun-07
Asking Rates:
Major Tenants: Office Max, Murray Feiss Lighting, Custom Building Products
COMMENTS:
The +/-108,507-SF Building F and +/-78,920-SF Building G are rear-loaded. Amenities include 30’ minimum clear height, dock-high loading doors, fire system, two
12’x14’ grade level doors, evaporative cooling and foil insulation.
Newland Communities’ Union Park
A City Within a City
nion Park is a 61-acre, 11-million-square-foot
mixed-use development located in the heart of
downtown Las Vegas. Designed to invigorate and
dramatically enhance the downtown area, Union Park is taking
shape as a “city within a city” and is considered the centerpiece of downtown redevelopment. The personal legacy of Las
Vegas Mayor Oscar B. Goodman, Union Park remains a top priority for the City of Las Vegas. It is being developed as a place
for those who live and work in Southern Nevada to dine, shop,
people-watch, and enjoy its many cultural and entertainment
offerings. In the city’s historic downtown, Union Park is Las
Vegas’ only authentic urban center. It not only encompasses
development on the immediate site, but is a part of the dynamic Union Park District, which includes many of the city’s
most significant projects, such as World Market Center, Clark
County Government Center, Las Vegas Premium Outlets and
Molasky Corporate Center.
Union Park projects announced to date include the Lou Ruvo
Brain Institute, The Smith Center for the Performing Arts, World
Jewelry Center, Charlie Palmer Boutique Hotel/Condo and AC-
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CESS Medical Development, which is planning to build a medical office and hotel. The community’s open space has been
planned to include areas that will accommodate festivals, exhibits and art shows, complimenting the substantial art influence of the nearby downtown arts district. Further adding to
the vitality of Union Park are hotels, restaurants, shopping, office and medical facilities. A place to window shop, meet
friends for coffee or dinner, conduct business, visit an art
gallery and take in a concert or the ballet, Union Park will deliver a full-bodied urban experience never before available in
Las Vegas. A true mixed-use development, Union Park defines
the very essence of downtown living and will offer a variety of
urban-style residences developed by Newland Communities.
These include apartments, condominiums, street-level brownstones and mid-rise lofts.
As Las Vegas continues to evolve past the glitz and glamour
of the Strip, Union Park is destined to become a centralizing
force for the city. It is the obvious gathering place for current
and future generations of Las Vegans seeking a more sophisticated and progressive urban experience.
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Camino al Norte Office Park
5105 to 5195 Camino al Norte
Type: Office
Developer: Dr. Rick Abelson / 949-322-9038
Leasing Agent: Sun Commercial Real Estate / Cathy Jones, Logan Schrumpf
702-986-7301
Date Built: Mar-07
Major Tenants: First Commerce Bank, Remax, Town Center Suites
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Aliante Corporate Center
2550 Nature Park Dr.
Type: Office
Developer: American Nevada Company / Charles Van Geel / 702-458-8855
Architect: JMA
Date Built: Sept-06
Status: Completed
Major Tenants:
COMMENTS:
Architecture of this two-story Class B office building is influenced by surrounding
desert forms and environment. Exterior features include the use of vibrant stucco,
stone veneers, metal canopies and sunshades. The site was designed to provide
maximum views of the northern mountains and expansive Nature Discovery Park to
the south.
NORTH LAS VEGAS
COMMENTS:
Camino al Norte office development contains twelve commercial buildings on the
southwest corner of Camino al Norte and Washburn. This impressive office park offers
a growing community and excellent option for office use. Phase II will encompass six
new office condominiums totaling 38,487 SF.
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Venture Pointe Speedway Commerce Center
Tropical Pkwy. & Mt. Hood St.
Type: Industrial
Developer: Centennial West, LLC / Gene Monkarsh / 310-278-1830
Leasing Agent:
Status: Planned
Asking Rates:
Major Tenants:
Type: Industrial
Developer: Venture Pointe Development / John Clement
Date Built: 4th Qtr. 2007
Asking Rates:
Major Tenants:
COMMENTS:
The project is located in the City of North Las Vegas in the Northeast industrial corridor.
Phase I is the first of a three phase project that has a scheduled start date for the 1st
quarter of 2008. Phase I will consist of two buildings: Building 1 will be +/-72,284 SF
with a potential of eight bays and Building 2 will be +/-86,570 SF with a potential of
12 bays.
COMMENTS:
Available for delivery in the 4th quarter of 2007, this M-2 zoned (North Las Vegas) +/9-acre master-planned business park will include four buildings from 32,000 to 52,800
SF in size. The high image concrete tilt-up buildings will include features like a 22' clear
height, dock and grade level loading, yard space, and ample 277/480 volt three-phase
power service.
Jones Vargas
Contributing to the Las Vegas World Market
t’s becoming a staple of the Las Vegas landscape: development and redevelopment projects rapidly
sprawling outward and upward. More than 110 highrise condo, hotel, mixed-use and other major projects in Las
Vegas are in various stages of development. Jones Vargas has
contributed to one of Nevada’s largest redevelopment projects,
the Las Vegas World Market Center (WMC).
Jones Vargas lawyer Richard Jost played a vital role in the
WMC project, helping to set the stage for the redevelopment
movement in southern Nevada. Backed by the Las Vegas Redevelopment Agency, the WMC was made possible by a new tax
increment model developed in part by Jost and the Jones Vargas team.
Centered around the idea that everyone wins or nothing happens, the model was originally introduced to the Las Vegas Redevelopment Agency as a tool for developers to gain more control over the WMC project. In return, both parties agreed not to
compensate the developer until the area’s property value had
improved. The Redevelopment Agency adopted the idea and
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has since seen an increase in interest from developers, thus
growing the number of redevelopment projects in Las Vegas.
While Las Vegas works to replace the old with the new,
the WMC is booming with success. The project, situated in
the heart of downtown Las Vegas, is in its third phase, with
an expected completion date of 2008. Meanwhile, the current facility, a 530-room, three-million-square-foot furniture complex, continues to sponsor semi-annual home and
hospitality contract furnishings industry trade shows attended by more than 100,000 national and international
professionals.
“This project has rapidly evolved the furniture industry as we
know it today. If the pace continues, I believe it could join the
gaming industry, becoming a driving element in Nevada’s economy,” said Richard Jost.
With nearly 80 years of experience, Jones Vargas is a leader
in Nevada Law with offices in Las Vegas and Reno, Jones Vargas offers legal services in business transactions, litigation and
government relations.
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Speedway Commerce Center - Phase II
6949, 6957, 6963, 6969 Speedway Blvd.6120, 6140, 6160, 6190 Hollywood Blvd.
Type: Industrial
Leasing Agent: CB Richard Ellis / Ed Aragon / 702-369-4800
Architect: Group Mackenzie
Date Built: Jun-07
Status: Completed
Major Tenants: National Dairy, Nevada Power Company, Wickes Furniture
COMMENTS:
Speedway Commerce Center Phase II is an eight building industrial park featuring units
from +/-3,500 to +/-11,138 SF. Units can be combined for up to 21,143 SF of space.
Each of the 80 units are ready for occupancy with existing office, a minimum of one
grade level and one dock high loading door per suite.
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Northern Beltway Industrial Center - Buildings A & B
El Campo Grande Ave. & Range Rd.
Type: Industrial
Developer: Thomas & Mack Development Group / Rick Meyers / 702-260-1008
702-734-4500
General Contractor: Martin Harris Construction
Project Square Footage: 188,950 / 234,836 / 134,735
Asking Rates: Buildings A & B: $0.42 - $0.50 NNN / Phase C: $0.65 - $0.77 NNN
$135 - $165 SF
Major Tenants:
COMMENTS:
The Northern Beltway Industrial Center will be a 1,926,000 SF master-planned industrial park consisting of seven buildings. The first phase consists of Building A, 188,950
SF, divisible to 27,022 SF; and Building B, 234,836 SF divisible to 25,168 SF. Phase C
will consist of eight freestanding industrial buildings ranging is size from 7,894 25,814 SF available on a sale or lease basis.
American Nevada Company
Setting the Standard
merican Nevada Company is a preeminent real estate
developer in Southern Nevada, specializing in the development of master-planned communities, office
parks, retail centers and mixed-use properties, with an impressive
commercial portfolio of more than 2.5 million square feet. Its success in the commercial sector can be attributed to its reputation
for delivering the finest in quality commercial space, while utilizing its knowledge, speed and flexibility to meet the needs of
today’s ever-changing business world.
In 1978, American Nevada Company developed Green Valley,
the first master-planned community in Southern Nevada. Upon its
completion, the 8,400-acre community, which is now home to
more than 75,000 people, received national accolades and was
recognized by the Urban Land Institute as a prototype of an outstanding master-planned community.
In 1993, the company unveiled plans for Green Valley Ranch, a
1,310-acre master-planned community, located just south of
Green Valley. The community features 775 acres of residential
neighborhoods and more than 4,000 homes.
Other developments and projects include: a managing partnership of Silver Canyon Partnership, which developed the 1,310-acre
Seven Hills master-planned community in Henderson; a partner-
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ship with Del Webb Communities, Inc. to develop the 1,905-acre
master-planned community of Aliante in North Las Vegas; and a
partnership with MGM Mirage and Jeanco Realty Development,
LLC to master-plan a mixed-use development on approximately
166 acres of land currently owned by MGM Mirage in Jean.
American Nevada Company’s signature development is The District at Green Valley Ranch, Nevada’s first mixed-use metropolitan
lifestyle center. Opened in 2004, the center features more than 70
upscale retail shops, boutiques and restaurants, 88 condominium
residences above retail, office above retail, a three-story office building and two outdoor green spaces which host a variety of live entertainment, outdoor movies and special events throughout the year.
The newest addition to the company’s portfolio is the 134,400square-foot office building in the company’s signature office
park, Green Valley Corporate Center which will feature a twostory atrium lobby, a combination of punched window openings
with a saw tooth pattern to create multiple corner offices and a
parking garage.
Today, American Nevada Company continues to set standards
for land use, lot sizing, configuration, product type, pricing, market research, architectural design and engineering in masterplanned communities and commercial properties.
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Cheyenne Industrial Center
4825 & 4875 Cheyenne Ave. & 3125 & 3175 Marco St.
Type: Industrial
Developer: Panattoni Development Company, LLC / Doug Roberts / 775-829-6112
Leasing Agent: Grubb & Ellis / Xavier Wasiak / 702-733-7500
Architect: BJG
Date Built: Aug-07
Major Tenants: Home Depot Supply, Johnstone Supply
COMMENTS:
Available for delivery in the 3rd quarter of 2007, this M-1 zoned (Clark County) 26-acre
master-planned business park will include four buildings from 100,000 to 137,000 SF
in size. The high image concrete tilt-up buildings will include features like 30' clear
height, a 200' truck court, a 60' truck apron, ESFR fire sprinklers and ample 277/480
three-phase power service. Units available will range from 22,000 to 137,500 SF .
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NorthEast Crossing Commerce Center
2925, 2935, 2945, 2955, 2965, & 2975 Lincoln Rd.
Type: Industrial
Developer: Jackson Shaw Company / Ralph Murphy / 702-732-7400
Architect: Dennis Hill Architects
Date Built: 2006
Status: Completed
Asking Rates: $120.00
Major Tenants: Southwest Stone & Tile, Designer Distribution Services, Thunder
Power Batteries
COMMENTS:
Phase I of NorthEast Crossing Commerce Center consists of 6 freestanding buildings
for sale with exceptional clear height allowing interior mezzanine build-out and warehouse racking systems. This development also features securable lay down yards
which also allows exterior storage space.
Southern Nevada Water Authority’s
Water Efficient Technologies Program
housands of Southern Nevadans have heeded the
call to conserve water in the face of an ongoing
drought. Through a variety of incentive programs,
residents and businesses have saved more than 18 billion gallons since 2002 – even as the area’s population grew by
330,000 residents.
At the same time, businesses are discovering the benefits of
saving water through Water Efficient Technologies (WET), a program geared toward Southern Nevada’s commercial sector that
helps reduce overhead costs while realizing long-term savings
on water bills.
WET offers incentives of up to $150,000 for commercial
and multi-family property owners who install water-efficient
devices, such as toilet retrofits, water-efficient showerheads,
waterless urinals, on-site reuse systems and cooling tower
improvements.
To qualify, customers must create at least 500,000 gallons of annual savings. The program allows applicants to
combine technologies and multiple business locations to
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meet the threshold. Businesses also can work with the
Souther Nevada Water Authority to implement custom technologies that meet their business needs, then qualify for a
performance-based monetary incentive.
Consumptive-use technologies (for water not returned to the
sanitary sewer system, such as landscape irrigation) earn up to
$10 for every 1,000 gallons conserved annually. Nonconsumptive-use (primarily indoor water use) technologies earn up to
$2.50 for every 1,000 gallons conserved annually.
Local businesses also are eligible to participate in the
SNWA’s highly successful Water Smart Landscapes (WSL)
Rebate program. For grass removed and replaced with
water-smart landscaping, the SNWA will rebate businesses
$2 for the first 1,500 square feet. The rebate for the conversion of grass in excess of 1,500 square feet is $1 per
square foot.
The SNWA projects a savings of 825,000 gallons of water per
year for the average 15,000-square-foot conversion to watersmart landscaping.
THE OFFICE MARKET
n the second quarter of 2007,
the Las Vegas Valley’s speculative office space vacancy rate
remained relatively unchanged from first
quarter, 2007. It increased by 0.1 percentage points to 10.9 percent. Class A
vacancy increased by 3.4 points to 10.5
percent, while Class C rose by .08 points
to 13.5 percent. The Class B vacancy rate
was 10.6 percent (down 1.1 percentage
point) and medical space was 6.6 percent
(down 1.2 points).
Office projects completed in 2007
were 38.1 percent vacant. Those completed between first quarter, 2003 and
fourth quarter, 2006, had an average vacancy of 15.6 percent, a decrease from
first quarter, 2007’s 17.3 percent. Projects built between 2000 and 2002 averaged 4.8 percent vacant, down from last
quarter’s 5 percent. Projects built between 1995 and 1999 were 5.9 percent
vacant, a 0.4 percentage point decrease
from last quarter.
The slight increase in vacancy did not
affect the average monthly asking price
of $2.51 price per square foot FSG when
compared to first quarter, 2007. In realdollar terms, the Valley’s office rents did
not keep pace with our first quarter, 2001
benchmark rates until third quarter,
2006, where it has been ahead of the
benchmark ever since. The second quarter’s office rents were 10 percent greater
than first quarter 2001 office rents, in
real-dollar terms.
Class A and Class B saw a rise over
first quarter average asking rents, with
the largest increase in Class A ($0.08).
The submarkets that did increase in average rents were Downtown (up $0.55),
North Las Vegas (up $0.10) and East
Las Vegas (up $0.07).
Office projects completed in 2007 rented
for an average of $2.62 per-square-foot
per month, while those built between first
quarter, 2003 and fourth quarter, 2006 had
an average monthly asking rent of $2.49
per-square-foot in second quarter, down
from $2.72 per-square-foot in first quarter.
Second quarter office absorption
Southern Nevada’s
Office Market Summary
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The Marnell Corporate Center - MCC-4 was awarded the 2007 Office Building
of the Year Spotlight Award. It was developed by Marnell Properties,
designed by Marnell Architecture and built by Carson Taylor Construction Company.
reached 923,227 square feet, 89 percent
higher than that recorded in first quarter.
Additionally, 1,161,934 sf of new office
space entered the market in second
quarter, down 10 percent from first quarter. Combined, this resulted in a much
healthier absorption-to-completion ratio
of .79 feet of demand for every foot of
new supply, when compared to first
quarter’s ratio of .47:1.
Most of this new office space was located in the Southwest (424,896 square
feet) submarket, followed by East Las
Vegas, (238,957 square feet), North Las
Vegas (191,412 square feet) and Northwest (171,601). One of the Valley’s oldest office submarket, Downtown, saw
very few completions in second quarter
(34,500 square feet), and West Central
and Henderson saw no new completions. By product type, most completions in second quarter were in Class C
(495,868 square feet) and Class A buildings (349,929 square feet), with 42.6
percent and 30.1 percent of the total.
Forward-supply increased in second
quarter to 5,775,072 square feet from
5,184,232 in first quarter, or by
590,840 square feet. Like completions,
most of the second quarter forward
supply was concentrated in the Southwest (3.15 million square feet). Approximately 24.5 percent (1,415,803 square
feet) of the forward-supply in second
quarter was under construction, representing approximately 3.8 percent of
the existing office inventory.
If all of the office space presently under
construction or planned is completed
(which is not likely), it would represent a
15.8 percent increase in the Valley’s
speculative office inventory. As a point of
reference, the Valley’s office inventory
has been growing at an 8.2 percent average annual pace since first quarter, 2003.
John Restrepo is principal of Restrepo
Consulting Group LLC (RCG).
2nd Quarter 2007
Office Market
TOTAL MARKET
Total Square Feet
Vacant Square Feet
Percent Vacant
New Construction
Net Absorption
Average Lease sf/mo (nnn)
Las Vegas
36,601,663
4,003,554
10.9%
1,161,934
923,227
$2.51
Under Construction
1,415,803
Planned
4,359,269
CLASS A
Total Square Feet
Vacant Square Feet
Percent Vacant
4,503,819
470,989
10.5%
New Construction
349,929
Net Absorption
174,464
$2.95
Under Construction
607,499
Planned
663,862
CLASS B
Total Square Feet
Vacant Square Feet
Percent Vacant
11,917,385
1,264,010
10.6%
New Construction
151,824
Net Absorption
258,812
Under Construction
Planned
$2.54
86,983
1,897,423
CLASS C
Total Square Feet
Vacant Square Feet
Percent Vacant
13,647,344
1,839,059
13.5%
New Construction
495,868
Net Absorption
332,395
$2.38
Under Construction
269,339
Planned
994,117
MEDICAL OFFICE
Total Square Feet
Vacant Square Feet
Percent Vacant
New Construction
Net Absorption
6,533,115
429,496
6.6%
86,901
157,556
$2.53
Under Construction
451,982
Planned
803,867
Compiled by RCG LLC/Colliers International
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Southern Nevada’s
Industrial Market Summary
The Southeast Loft District was awarded the 2007 Industrial Building of the Year Spotlight Award.
It was developed by Familian of Nevada, Inc., designed by C2G Architecture Design Construction
and built by Familian Development Group.
nventory levels within the Southern Nevada industrial market
continue to expand at an aboveaverage pace, while concerns over longterm growth opportunities remain. This
accelerated level of market expansion has
been met with an equally impressive level
of market demand as vacancies have remained below historical averages and
availability in most product types remain
somewhat limited. A handful of large-scale
distribution buildings are underway with a
reasonable share of space pre-leased. The
current wave of activity will thrust the market forward with total inventory surpassing
100 million square feet in the near term.
I
Latest Activity
Through the first nine months of 2007,
the Las Vegas Valley industrial market expanded by more than 4 million square feet
while vacancy rates remained below 5 percent. Market demand continued its positive
course, yet is off the feverish pace of new
supply. The latest activity results in modestly higher vacancies from the low 3.5 percent mark reported at the close of 2006.
In addition to the latest activity, over 6 million square feet of space remains under construction throughout the valley. A significant
share of future supply is already pre-leased
and is inclusive of built-to-suit projects for
large-scale facilities, including International
74
Game Technology’s (IGT) campus and the
Pepsi Co. facility, both located in the southwest portion of the valley. Additionally, over
4 million square feet of planned space remains on the drawing boards.
Product Pricing
Average asking rents in the industrial
sector reflect a diversifying mix of properties that includes investor-purchased
freestanding buildings, increasing office
components in large-scale distribution facilities and limited availability. Valley-wide
average asking lease rates also continued
to fluctuate based on the size and mix of
properties available. Average asking rates
were $0.82 per square foot per month, up
materially from the prior year
Rising development costs and a lack of
land suitable for industrial uses (given pricing) contributed to the increase. Asking averages for the quarter were $0.73 per square
foot for warehouse-distribution space
(blended with office components); manufacturing space reached $0.95 per square foot;
and flex space had the highest lease rates of
all sectors at $1.01 per square foot.
Market Outlook
Based on the most recent data available, the Las Vegas economic climate reported continued strength in various sec-
2nd Quarter 2007
Industrial Market
TOTAL MARKET
Total Square Feet
Vacant Square Feet
Las Vegas
92,344,059
4,081,975
Percent Vacant
4.4%
New Construction
860,436
Net Absorption
974,430
Under Construction
Planned
$0.82
6,911,681
4,653,005
DISTRIBUTION
Total Square Feet
Vacant Square Feet
58,996,992
2,571,352
Percent Vacant
4.4%
New Construction
500,246
Net Absorption
531,037
$0.73
Under Construction
5,542,889
Planned
3,614,640
MANUFACTURING
Total Square Feet
20,579,137
838,970
Vacant Square Feet
4.1%
Percent Vacant
New Construction
336,998
Net Absorption
256,084
ability of industrial-zoned property at feasible prices. While the market has been able
to accelerate development activity, concerns regarding pricing persist. Maintaining
a competitive market position within the
western region will be critical to attracting
large-scale distribution firms and complimentary manufacturers to the Las Vegas
Valley. Should material escalations in pricing prevail, Las Vegas may become less desirable than other markets, including the Inland Empire, Northern Arizona, Southern
Utah and other surrounding jurisdictions.
Diversification within the market and
land availability remains a key element of
continued strength in the industrial market.
While the leisure and hospitality sector has
reported below-average expansion, it is
worth noting the market is on the leading
edge of the largest building boom in Las
Vegas history. Those impacts will likely ripple throughout all major sectors of the Las
Vegas economy; the industrial market will
ultimately be a likely beneficiary.
Brian Gordon, CPA, is principal of
Applied Analysis.
$0.95
Under Construction
tors, while others lagged principally due to
a slowdown in for-sale residential market
activity. Population growth remained positive as another 80,000 new residents are
expected to make Southern Nevada their
new home. Employment growth remains
off the peaks reported in the previous few
years as a softer housing market has
clearly impacted the demand for residential construction employees and others directly and indirectly impacted by the industry (e.g., real estate agents, mortgage
brokers, and title officers).
However, the amount of resort investment
activity continues to support the latest commercial wave of activity. Projects with announced completion dates during the next
five years total in excess of $30 billion dollars
and comprise nearly 40,000 hotel rooms.
Projects underway include Palazzo (2007),
Trump (2008), Encore at Wynn (2009), CityCenter (2009), and Echelon (2010). The economic engine of Southern Nevada appears
poised for another exciting ride.
With regard to the economic engine’s impact on the industrial sector, we continue to
remain concerned about the long-run avail-
1,026,821
944,283
Planned
R&D
476,018
Total Square Feet
0
Vacant Square Feet
0.0%
Percent Vacant
0
New Construction
0
Net Absorption
$0.00
51,040
Under Construction
0
Planned
FLEX
Total Square Feet
12,291,912
Vacant Square Feet
Percent Vacant
New Construction
Net Absorption
Under Construction
671,653
5.5%
23,192
187,309
$1.01
290,931
94,082
Planned
Compiled by Applied Analysis
75
Voit Commercial Brokerage
The Higgins’ Winning Team
ince Voit’s Las Vegas launch, the
company has established itself
as one of the leading commercial real estate brokerage firms in Southern
Nevada, and its principals, Kevin Higgins
S
and Kit Graski, continue to play leading
roles in local community organizations and
professional groups. Longtime Las Vegans
Higgins and Graski opened Voit Commercial
Brokerage’s Las Vegas office in October
Steven Paravia, sales associate; Kevin Higgins,
vice president; and Garrett Toft, senior associate
2002 as senior vice presidents of the regional firm. Their high level of success has
also brought them national recognition.
The Higgins Team won NAIOP’s 2007 Industrial Brokerage Team of the Year. In
2006, Kevin Higgins closed 85 transactions totaling more than $125 million,
which included more than 750,000 square
feet of product and 75 acres of land and
was named Voit’s No. 1 broker nationwide
for three consecutive years. He served as
president of the Southern Nevada chapter
of NAIOP in 2003 and as president of the
Southern Nevada Chapter of the Society of
Industrial and Office Realtors (SIOR) in
2004. Higgins earned NAIOP's Industrial
Broker of the Year award in 2000, 2001,
2003 and 2006, as well as NAIOP's Special Recognition Award in 2004.
Graski closed 23 transactions totaling
$57.8 million comprised of 204,713 square
feet and 32 acres in 2006, earning him the
company’s No. 7 ranking nationally. He is a
retail expert with 22 years of experience
working in one of the strongest and most
prosperous retail markets in the country
and is an active member of the International Council of Shopping Centers (ICSC).
Tami Lord joined the firm as vice president in 2006 and specializes in the Las
Vegas retail market as well.
A subsidiary of The Voit Companies, Voit
Commercial Brokerage, a member of CORFAC International, also has offices in Irvine,
Anaheim, Chula Vista and San Diego, Calif.
The company, headquartered in Newport
Beach, Calif., has completed sales and lease
transactions valued in excess of $13 billion.
76
Majestic Realty Co. and Thomas & Mack
Team Create Business Destination
850,000 square feet under construction, bringing its local
ith more than 5 million square feet of office, industrial and
portfolio to 5.1 million square feet. Prime sites near the Strip
retail space anticipated at build-out, opportunities abound
and McCarran International Airport continue to attract tenat the Beltway Business Park, a 400-acre master-planned
ants to Majestic’s properties, where it takes a unique develoffice and industrial park in southwest Las Vegas. Centrally located
op-and-hold approach, offering fully integrated services—
off the I-215 Beltway between Decatur and Jones boulevards, the
from
design
and
project is a joint venture beconstruction to in-house
tween Thomas & Mack De“In 2006, the Majestic Realty Foundation
leasing and managevelopment Group and Mament. Majestic also earns
placed more than 300 grants nationwide,
jestic Realty Co. Beltway
praise for its commitment
Business Park is designed
totaling nearly $2 million.”
to the community.
to be a complete business
In 2006, the Majestic
destination.
Realty Foundation placed more than 300 grants nationCurrently under construction is Corporate Gateway, featuring
wide, totaling nearly $2 million, including 20 grants to worfour symmetrical buildings totaling 292,000 square feet of first
thy Nevada nonprofits, including the Nevada Partnership
class office space. Additionally, the industrial section of the park
for Homeless Youth, Classroom on Wheels, the YMCA of
will include 12-14 buildings totaling more than 3 million square
Southern Nevada and the Volunteer Center for Southern
feet of warehouse space. And the first offering on the retail side
Nevada. Founded in 1948 and headquartered in southern
is Beltway Commons, which will bring 38,000 square feet to
California, Majestic is one of the nation’s oldest and largest
park tenants. Beltway is the latest endeavor in Las Vegas for
privately held real estate firms, with an office, retail and
Majestic.
industrial portfolio totaling more than 70 million square
Fueled by the strong business environment and the thrivfeet nationwide.
ing gaming and resort industry, the developer currently has
W
77
Burke & Associates, Inc.
Building For The Future
company president Kevin Burke.
or more than two decades, Burke and Associates has
Burke and Associates has recently become even more socialbeen one of the most respected general contractors in
ly responsible with on staff LEED®Accredited professionals
a city recognized for its prolific growth. As a result,
overseeing construction of one of the largest anticipated LEED
they have received many honors, including the coveted NAIOP
Gold certified projects in Nevada – the 53-acre 290,000General Contracting Firm of the Year Award.
square-foot Cashman Equipment Corporate Headquarters in
Since 1984, the company has built some of the most recogHenderson. Burke is proud
nizable structures in Las
of their affiliation with the
Vegas, several schools,
“We work and live here as well, so we
USGBC and the commitcountless
restaurants,
ment made to sustainable
casinos, retail centers,
believe our success requires us to give back and
development for future
warehouse and office
we’re proud to be in a position to help.”
generations.
buildings—you name it
“This is Las Vegas, and
and Burke and Associates
there are hundreds of
was involved. Burke is
general contractors that offer a complete range of services. It
building for the future with upcoming projects including Cashtakes a different kind of company, however, to deliver those
man Equipment Company’s Corporate Headquarters, the Preservices within the context of specific requirements. For us,
sidio Heights Condominiums and the Pacific Business Center.
that's what makes this job interesting and challenging. For our
The company is dedicated to the city it is helping to build. “We
clients, this perspective makes us indispensable,” said senior
work and live here as well, so we believe our success requires
vice president Tony Dazzio.
us to give back and we’re proud to be in a position to help,” said
F
78
Harsch Investment Properties
Leading with Multi-Tenant Industrial Properties
arsch Investment Properties is a real estate investment company which owns and operates more
than 100 properties in five states including Oregon, Washington, California, Nevada and Arizona. The company opened its Las Vegas regional office in 1995 with the
acquisition of the 400,000-square-foot Green Valley Corporate Campus. The portfolio has grown to 25 properties with
7.5 million square feet in the region. Harsch is the largest
owner of multi-tenant industrial properties in Las Vegas,
satisfying the full spectrum of tenant needs.
Currently, Harsch is working on three major projects: Henderson Commerce Center IV, Cheyenne Commerce Center
Phase III and the Speedway Center. The Henderson Commerce
Center IV Phase II is a 17-acre, 240,000-square-foot project
located on the southeast corner of Warm Springs Road and
Eastgate Drive. This five-building industrial center will offer
small- to mid-bay units ranging from 4,500 to 18,000 square
feet and parking for 2.2 cars per 1,000 square feet will be
provided. All units will have dock high and grade roll-up
doors, as well as rear loading. The project is in the second of
three phases and will ultimately consist of 11 buildings. It is
H
scheduled for completion in the summer of 2008.
The Cheyenne Commerce Center Phase III is a nine-building complex located on the northwest corner of Cheyenne
Avenue and Revere Road in North Las Vegas. Phase III is situated on 18.5 acres and will total 200,000 square feet of
light industrial flex space. Units will range from 1,500 to
10,000 square feet and offer parking for 3.5 spaces per
1,000 square feet. Six of the buildings are slated for completion in fall of 2008 with the remaining four to follow by
summer of 2009.
The latest phase at the Speedway Commerce Center is a
joint venture with the Gubler family. The 11-building, 35acre, 470,000-square-foot project is located on the southwest corner of Centennial Parkway and Hollywood Boulevard. Units will range from 1,500 to 25,000 square feet and
will offer dock high and grade roll-up doors – fitting the
Harsch prototype. Parking will allow for more than 2.5
spaces per 1,000 square feet.
Harsch Investment Properties continues to seek quality investment and development office, multi-tenant industrial,
retail and multi-family property investments in Las Vegas.
79
Cox Business Services
A Whole "Bundle" of Services
bundle its products, a concept Cox introduced into the marketox Business Services (CBS), the business-to-business
place 10 years ago with virtually every telecom provider now
division of Cox Communications, is a leading provider of
imitating the practice. By bundling multiple products, CBS proadvanced video, voice and data services to the Southern
vides services that may otherwise prove more expensive when
Nevada business community. Cox Communications is a Fortune
purchased separately from individual providers.
500 company, as well as the third largest cable broadband com“It just makes more sense to get all telecom needs from one
munications provider in the nation. And while CBS is national in
provider,” noted Blau. “You
scope and on track to reach
get multiple services from
$1 billion in revenue by
one company on one bill
2010, the B2B division is also
"One of the key competitive advantages at
and deal with only one acvery much a local company
CBS is the ability to bundle its products."
count representative. Plus,
meeting local needs.
you get 24/7 technical sup“In Southern Nevada, Cox
port from trained profesprovides high-paying jobs to
sionals. There are the savings you’ll achieve by getting all your telemore than 1,200 employees of which nearly 200 belong to
com needs in one package from CBS.”
CBS,” said David Blau, vice president and general manager of
The popularity of bundling can be seen by the numbers: in
the company’s Henderson-based regional operations. “They all
Cox’s legacy voice markets, over 55 percent of new data cuslive and work here, and that’s good for the local economy. That’s
tomers also subscribe to Cox Digital Telephone. With market
one of our key differentiators. We’re local; many others are not.
share on the rise, bundle packages that achieve savings as well
When you call us for support, you speak to a Southern
as J.D. Power and Associates awards for customer satisfaction,
Nevadan.”
CBS is the leading provider of communications solutions.
One of the key competitive advantages at CBS is the ability to
C
80
Jackson-Shaw Company
Creating Value
ackson-Shaw Company, a national real estate development organization headquartered in Dallas, Texas,
brings more than 36 years of continually advancing
expertise in the development of office, industrial, flex and hotel
facilities. The company has developed more than 35 million
square feet of space since its founding.
Today, Jackson-Shaw is focused primarily on real estate development and investment in a variety of project types, including office, industrial, mixed-use and hotels. The company’s primary goal of is to create value in real estate for its clients and
capital partners. Jackson-Shaw is a well-rounded real estate
development company, possessing extensive in-house development, construction management, financial, marketing and property management experience.
The core strategy of diversification with various types of developments and in various geographical locations continues to
drive the company’s investments. The firm often moves quickly
with its own capital to secure exceptional property with inherent
competitive advantages. It then combines its numerous longterm relationships with nationwide lenders and equity partners
to create long-term high value assets.
J
The Jackson-Shaw principals, involved in building the company’s
future, have collectively developed more than 60 million square feet
of industrial, office, flex and hotel space, alongside several capital
partners. The success with these projects continues in the company’s current work, and its tradition of quality and integrity in its developments. To form and maintain mutual commitments, the principals of the company are also participants in its investments.
Jackson-Shaw has been active in the Southern Nevada market
for more than fifteen years. In the Las Vegas Valley, the company
recently completed NorthPort Business Center located in the
Cheyenne Technology Corridor that consists of approximately
more than 340,000 square feet of office space for lease. The company is also developing Northeast Crossing, a 30 acre industrial
park located at the southwest corner of Cheyenne Boulevard and
Lincoln Street. The first phase of the project was recently completed and consists of approximately 130,000 square feet in six
buildings. Northeast Crossing Phase II will be completed in 2008
and will consist of 300,000 square feet in 10 buildings for sale
and lease. Ralph Murphy, senior vice president – western region
development, heads the local office and is responsible for development throughout the Southwestern United States.
81
Bank of Nevada
Expands Services and Locations
er institutions. Businesses also have access to Bank of Nevaince Bank of Nevada was founded in 1994, comda’s comprehensive array of banking and financial service
mercial real estate lending to facilitate the growth
products including a full line of cash management solutions,
of the community has been a cornerstone of the
including the convenience of e-deposit remote deposit capbusiness. Last year, the Bank funded more than $500 million
ture service. The services are supported by a locally-based
in commercial real estate projects. The bank recently marked
team of product specialits 13th year, headquarists, who are available to
tered in Las Vegas, with
meet with clients at their
$3 billion in assets and
“The key has been the combination of having a
businesses.
15 offices in Las Vegas,
Over the past 18
Henderson, North Las robust lending capacity that exceeds the capabilities
months, the bank has
Vegas and Mesquite.
of community banks and can accommodate
grown from five offices to
The key has been the
virtually any Nevada business.”
fifteen locations. Last
combination of having a
year, new offices were
robust lending capacity
opened in Centennial
that exceeds the capabilHills, Aliante and in
ities of traditional comSouthwest Las Vegas at Warm Springs and Durango roads.
munity banks and can accommodate virtually any Nevada
The bank also recently opened an office at Hualapai Way and
business. Yet, unlike large institutions, this strength is coupled
West Charleston and Grand Central Parkway \ in the new Mowith experienced bankers who are empowered to make decilasky Corporate Center.
sions locally enabling them to be more responsive than larg-
S
82
NAIOP Southern Nevada Chapter
Member Driven
lot can happen in 21 years. As the
Southern Nevada Chapter of the
National Association of Industrial
and Office Properties (NAIOP) celebrates
more than two decades’ worth of networking, education and camaraderie, it may be
the most energetic business organization in
Southern Nevada. NAIOP is the trade association for developers, architects, consultants, bankers, brokers, designers, general
contractors, engineers who focus on industrial and office development.
With more than 800 members, the
Southern Nevada chapter is the fourth
largest in the country. Nationally, the organization is comprised of nearly 15,000
members with 53 North American chapters.
NAIOP provides members with business
and networking opportunities, education
programs, research on trends and innovations, and legislative support.
“There is really something for everyone,” said Tony Dazzio, president of the
Southern Nevada Chapter. “Whether it’s
giving back to our community, staying informed of state and local issues, networking with friends and colleagues, learning
more about our industry or growing opportunities for individual businesses, you can
find it at NAIOP.”
Members meet and network through a
variety of activities including monthly
breakfast meetings, educational seminars,
golf tournaments, mixers, award ceremonies, bus tours, and involvement with
the various committees.
As one of the largest and most active
chapters in the country, one might assume a
full time staff is behind NAIOP’s efforts; that
is not the case. While the chapter utilizes Alternative Management to handle its executive functions and other consultants to help
coordinate its communications and governmental affairs initiatives, the membership is
responsible for most the activities.
“The most remarkable thing about NAIOP
is that it is a volunteer-driven organization,”
said Dazzio. “Our membership and committee chairs dedicate their own time for the
good of our industry and organization.”
The majority of NAIOP’s outreach is
A
“The most remarkable thing
about NAIOP is that it is a
volunteer-driven organization.”
coordinated through its twelve committees
including, Membership, Programs, Education, Communications, Spotlight Awards, Bus
Tour, Golf Tournament, Community Service,
Industry Trends, Sustainable Development,
Governmental Affairs and Sponsorship.
83
Program
Committee
Coordinating
Monthly Speakers
ne of the most important
events NAIOP hosts falls
under the responsibility of
the Programs Committee. Each month,
members come together at its monthly
breakfast meetings held at The Orleans
Hotel & Casino. Members and their
guests are invited to hear speakers discuss a variety of topics of interest to
the commercial real estate industry.
The Program Committee, led by chair
Ellie Shattuck, strives to secure the most
notable speakers possible, often soliciting
pillars of the community who happily
agree to address the organization. Over
the years speakers have included the
Governor, state representatives, the chairman of the Clark County Commission,
Mayors from each of the local municipalities, the Sherriff of the Metropolitan Police
Department and representatives from
public works, McCarran Airport and Nevada Development Authority.
O
“Members and their guests
are invited to hear speakers
discuss a variety of topics
of interest.”
Other programs have included information on green building, political
races, local and national market trends,
children’s education, the Southern
Nevada higher education system and
the challenges our transportation systems will face as the economy continues to expand.
The breakfast programs are extremely popular and typically attract between
300 to 400 members and guests.
“We are really proud of our breakfast
programs,” said Tony Dazzio, president
of the Chapter. “I think their importance
and impact on our membership is
proven in the number of people that
join us each month. Our members and
other members of the industry find
them extremely informative.”
84
Sponsorship
Committee
Funding Chapter Events
ith all of the activities and
events hosted by NAIOP, the
Sponsorship Committee has
a vital role in the success of the chapter. Led by Chair Mike Carroll, the team
raises money each year to fund
NAIOP’s numerous events, programs
and tournaments.
W
“We offer our members
and their companies a
long list of opportunities
to choose from.”
The chapter’s main sponsorship
source is its President’s Circle Sponsorship program. President’s Circle Sponsors make up the majority of the operating budget NAIOP uses throughout
the year. The highest sponsorship levels
include free ads in NAIOP NOW and positioning as the presenting sponsor of
the chapter’s signature events such as
Spotlight Awards, Bus Tour and the Golf
Tournaments.
True to form, the chapter also offers
even its smallest member firms the opportunity to participate as a sponsor.
“We offer our members and their
companies a long list of opportunities
to choose from,” said Katrina Ferry, the
chapter’s executive director. “Who they
are trying to reach or connect with really determines which sponsorship
level they choose. We have them at all
monetary levels and commitments.”
Each year the organization raises
more money through sponsorships.
Often times the best opportunities sell
out quickly and members miss out.
“They have the chance to get their
company’s message and information in
front of 800 industry leaders,” said
Tony Dazzio, president of the chapter. “I
think that is why we have been so successful in our fund raising efforts.”
85
Spotlight Awards Committee
Planning Signature Event
ne of the highlights of the year
for the NAIOP chapter is its Spotlight Awards event. Hosted annually, the event brings together members
to recognize and celebrate the top projects
and leaders in the industry. The Spotlight
Awards Committee oversees the planning
and coordination of the event. With more
than 800 people in attendance at this year’s
event, Spotlight is NAIOP’s signature event.
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86
To add to the event’s prestige, the
chapter’s leadership has been successful
in securing high profile Masters of Ceremonies. This year, Gov. Jim Gibbons and
first lady, Dawn Gibbons acted in this role
and handed out trophies to more than 30
projects, companies and individuals. In
years past, the chapter has welcomed
Gov. Kenny Guinn, Mayor Oscar Goodman
and Sen. Richard Bryan among others.
The awards show is divided into two
areas for members to enter. First are the
project awards. Under this section there
are 16 categories ranging from masterplanned office and industrial parks and
buildings to common area interiors.
Members must submit an application as
well as a binder of supporting materials
for the project. These applications and
binders are judged by a panel of industry leaders from a neighboring market.
Winners are chosen by the judges
based on a list of criteria provided to
applicants before submitting.
“The best thing about the project
awards is many times our members
work as a team on the development,”
Dazzio said. “So the winning project
may encompass two or three member
companies. It’s great when the winning
project is developed, designed, engineered and built by members.”
The chapter also recognizes members,
companies and teams under its industry
awards. These winners are selected
based on nominations from general membership and decided upon by the board.
For the majority of industry awards, there
is an application that has to be submitted
to the board for consideration.
Hosted in the spring and generally
held at a new and lavish venue, the event
is an evening of celebration, entertainment, dinning, and networking. To add to
the fun of the evening, the committee selects a theme for each year’s event. In
2007, the event was dubbed “Survivor
Southern Nevada.” The committee
worked for a full year to bring to life the
theme through invitations, presentations,
gifts, décor and the program.
Led by co-chairs Barbara Demaree
and Grace Ferrell and overseen by
board liaisons Sallie Doebler and Rick
Myers, the committee is one of the
most active in the chapter.
“Members of the Spotlight Awards Committee dedicate a large portion of their time
to make this event successful,” Doebler
said. “I don’t think people realize how much
planning goes into an event this size. I am
really proud of our committee and the work
they have done over the last few years.”
Golf
Tournament
Committee
Giving Members More
Networking Opportunities
he Golf Tournament Committee is responsible for planning and coordinating two
golf tournaments hosted by NAIOP
every year. The tournaments – one in
the spring and another in the fall – are
designed to give members the chance
to network and compete in a social setting. The Golf Tournament Committee
led by long term board member Lee
Phelps chooses the venue, secures
sponsorships, promotes the event and
handles all of the activities during the
day of each tournament.
In previous years, both the spring
and fall tournaments completely sold of
both sponsorships and participants,
easily fulfilling the event’s 144-player
capacity.
This year, NAIOP held its 16th Annual
Spring Golf Tournament at the Dragon
Ridge Country Club on Stephanie Street
in Henderson, with Southwest Gas
sponsoring the event. The 72-par golf
course was designed by award-winning architect Jay Morrish, along with
rising architect David Druzisky, and
opened in 2001.
The tournament was in the format of
an 18-hole, four-person scramble. Trophies and prizes were awarded for the
1st, 2nd and 3rd place finishers, as well
as complementary shirts, hats, shoe
bags and a sleeve of balls given as gifts
to all competitors.
“Anyone who has attended one of
our golf tournaments knows it’s a lot of
fun but also competitive,” said Tony
Dazzio, president of the chapter. “People take the game seriously and want to
win the trophy and bragging rights. It’s
a great social event for our chapter and
we are able to tie in our CREPAC, which
is a very important component of our
governmental affairs efforts.”
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87
Community Service
Committee
Establishes the Casey Jones Fund
Casey Jones, longtime NAIOP member
and past president.
he Southern Nevada chapter of
the National Association of Industrial and Office Properties
(NAIOP) recently announced the creation
of the Casey Jones Fund. The fund will
serve as the backbone of the organization’s community service outreach and
will be managed by the Henderson Community Foundation.
Throughout its 21 year history, NAIOP
and its members have donated their time
and money to organizations that are dedicated to enhancing the quality of life for
children and seniors in the valley. In
2006, the chapter created its Community
Service Committee to qualify and oversee
such outreach. This committee was established under the leadership of board liaison and past president Casey Jones.
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88
The chapter attributes its most recent and
aggressive community outreach to Jones,
who passed away in December.
“Our dear friend, Casey Jones, inspired
our organization to make a difference in
our community,” said Tony Dazzio, chapter
president. “We are thrilled to finally have a
way to commemorate his contribution.
Now, every time our chapter gives time,
money or resources to a non-profit organization, we will do so in his name. His legacy will continue for years to come.”
“Giving back to the
community we serve
is very important
to our chapter.”
NAIOP is currently working with two
local non-profit organizations. The first is
Community in Schools, an organization
that supports low-income children and
families through the school setting. Recently, NAIOP donated $10,000 to Communities in Schools for furniture for its
Cynthia Cunningham Elementary School
health clinic. The health care facility is
being built for low-income and homeless
children attending the school who may
not otherwise have access to important
medical and dental services.
NAIOP has also assisted Helping Hands
of Vegas Valley, an organization that offers
a bag of free groceries once a week to lowincome seniors, as well as respite cares for
hospice workers and transportation for seniors who are unable to drive. Most recently, the chapter held a mid-year food
drive where more than $5,000 was raised
and 50 cases of food were collected.
“Giving back to the community we serve
is very important to our chapter,” said Barbara Demaree, chair of NAIOP’s Community Service Committee. “Every year, I am
simply overwhelmed with joy by the generous contributions. Casey Jones was so
dedicated to people in need and it is truly
an honor to help carry on his legacy.”
89
Government Affairs Committee
Representing the Industry’s Needs
A Client Centered Law Firm
business & corporate
real property • immigration
construction • collection
labor & employment
hile the organization is well
known for its networking and educational opportunities, its main
focus has always been on government affairs. The chapter was formed in 1986 by a
group of developers who wanted to create a
unified voice to represent their interests in
the community and with legislators.
“The fundamental purpose of NAIOP is to
represent the industry’s interests and interact with government at every level,” said
Michael Newman, past president of the
chapter and former chair of the government
affairs committee.
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“The committee has been a very effective group for NAIOP members,” said Tony
Dazzio, chapter president and past chair of
the Government Affairs Committee. “Every
year it has grown and become stronger.”
NAIOP representatives regularly meet
with politicians at all levels to provide
them with input on important issues to
commercial development. NAIOP provides written position papers and briefs
on the general principles and philosophies of NAIOP.
“We have relationships with many of our
leaders in government,” Dazzio said.
“The fundamental purpose of NAIOP is to
represent the industry’s interests and
interact with government at every level.”
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90
In 1990, the chapter formed its Government Affairs Committee. The purpose of the
committee was to create an entity that
could serve as the liaison between the
NAIOP membership and state and local
municipalities. Membership was comprised of people who had an interest in improving the legislative and regularity climate for the chapter.
“Many of our accomplishments revolve
around relationships. Translating those relationships into a value for members and representing the interests of our members at
the very highest levels of government is our
focus. We don’t stand on sidelines with our
hands on our hips demanding action. We
prefer to act as a resource. They can call us
up and ask for assistance and we will be
“We work to ensure
our members’ interests
are represented.”
happy to provide guidance on any issue that
has an impact on our community.”
In 2006, the chapter divided its government efforts into two categories. It hired
McDonald Carano Wilson to represent its
interest at the state level and continued its
relations with Strategic Solutions at the
local level. Members of the committee met
with all the legislative leadership, including
the senate majority leader, the speaker of
the assembly and all legislative committee
chairmen in both houses.
Under the leadership of then chapter
President Ralph Murphy, the Government
Affairs Committee developed a public affairs position paper that formally documents the most important issues affecting
NAIOP members and the commercial real
estate industry. The paper details positions
on taxation and construction law at the
state level, and on permit processing time,
fees for development approvals and availability of land for future development at the
local level.
“Together with our lobbyist groups, we
monitor a variety of issues ranging from imminent domain, impact fees, construction
law, land use and growth managements,
and tax related issues,” Dazzio said. “We
work to ensure our members’ interests are
represented.”
In 1994, the committee reached another
milestone when it formed the Commercial
Real Estate Political Action Committee
(CREPAC). The purpose of CREPAC was to
enhance the publics and public officials understanding of the importance of commercial real estate development through donations made to candidates.
“Our association is now recognized as
the voice of commercial real estate development in Southern Nevada and our voice
is getting stronger,” said Murphy current
chair of the Governmental Affairs Committee. “As a result, we are able to offer
greater service to our members, be more
responsive to the needs of our community,
and enhance our influence with federal,
state and local elected representatives.”
91
Stoltz Management Company
Continues to Evolve
ver the last 50 years, the Stoltz Management Company has evolved from a small, regional family real estate service and investment business into a leading
national real estate/investor/operator and trusted fiduciary.
Through three generations, Stoltz has successfully diversified its
capabilities, garnered comprehensive industry expertise, and
championed exceptional service and operational excellence.
In Nevada, Stoltz Management Company acquired the Hughes Airport Center and Hughes Cheyenne Center in 2000 totaling
more than 2.3 million square feet of office, office/warehouse
and flex office buildings. Over the years, Stoltz sold small
parcels in the parks. In 2005 and 2006, the company completed the development of two build-to-suit facilities for gaming industry manufacturers, Konami and WMS Gaming, which totaled
more than 250,000 square feet. In 2007, Stoltz sold the remaining buildings owned and retained four development parcels,
along Sunset Road at Hughes Airport Center. A new 180,000
Class A office building broke ground in June, 2007 with occupancy by May, 2008. Another 90,000 square feet of new space
is being planned for the remaining two undeveloped parcels for
the end of the 2010.
O
The two Stoltz owned buildings in Hughes Cheyenne Center
totaling 220,000 square feet located in North Las Vegas were
sold in the last round of dispositions and what remains are two
parcels for Stoltz developments. A small 4 acre corner parcel at
Cheyenne and MLK is being developed as a shopping center anchored by TESCO’s Fresh and Easy food store. Preliminary development studies are under way on the second parcel, a 40acre site on Cheyenne between Coleman and Clayton Roads.
The senior executive team at Stoltz Management Company
is comprised of professionals with decades of experience in
successful private real estate investing, asset management
and leasing, equity joint ventures, investment banking and
public company management. The Las Vegas team includes
Wes Jenson, senior vice president, who has been affiliated
with Stoltz since 1998. Ty Trueblood, senior vice
president/construction oversight, has more than 30 years of
commercial building construction and has worked in the Las
Vegas market for the past 12 years. Mikkel Pearce, Janice
Plummer and Jerry Crossland round out the team handling all
facets of property management, lease administration, marketing and facilities engineering.
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92
Venture Professional Center
Education Committee
Providing Value to Members
ne of the key benefits of joining NAIOP is the opportunity to
learn more about the commercial real estate industry. The Education
Committee develops informative seminars and workshops aimed at enhancing
members’ knowledge of the industry and
current trends.
Kyle Nagy, chair of the Education Com-
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94
mittee and member of the board of directors, said the committee works hard to
offer members a variety of workshops to
choose from.
“We know that each of our members
want information about topics that impact
their business,” Nagy said. “We look for opportunities to provide this information in a
way where everyone walks away with
knowledge they did not have when they
came in.”
Last year, the committee introduced a
series of four permit processing workshops
to guide members through the necessary
protocol for commercial development in the
four Las Vegas Valley municipalities. Each
workshop was presented by representatives of the respective municipalities, so at-
“Learning to navigate
the municipalities,
from concept through
building, was a
huge success.”
tendees learned the correct way to process
commercial developments from the decision makers themselves.
“Learning to navigate the municipalities,
from concept through building, was a huge
success,” Nagy said. “We brought together
the developers and representatives from
the public sector to have an open conversation and discussion on how to make things
run smoothly for both parties.”
Over the years, NAIOP has teamed with
other professional organizations to host
seminars. NAIOP joined the Associated
General Contractors Las Vegas Chapter to
educate members about the impact rising
costs of land, labor and materials on the industry. It partnered with the local chapter of
the U.S. Green Building Council to explore
green building. The discussion included
defining the elements of green building,
Leadership in Energy and Environmental
Design (LEED) certification and sustainable
development.
In addition to educating its current members, NAIOP is also committed to assisting
the next generation of industry leaders. In
1993, the chapter established a scholarship
endowment with the UNLV Foundation and
has worked closely with the university ever
since. Each year, NAIOP awards a scholarship to one student enrolled in the Lied Institute for Real Estate Studies program. The
Education Committee also oversees the
mentor program. The program matches real
estate students with NAIOP members who
meet regularly throughout the semester.
“Our Education Committee does a great
service to the membership and provides
value to members,” said Tony Dazzio, president of the Southern Nevada Chapter.
“Where else can you learn about how to
submit plans, request approvals and qualify
for assistance from the direct source?”
95
Marnell Properties
Defines a New Las Vegas
timated 50 stores with 3,000 parking spaces upon its comarnell Properties is a real estate development and
pletion in the fourth quarter of 2007. The 600,000-squaremanagement company that focuses on the acquisifoot community retail center will have 16 steel, stone and
tion, development and management of commercial
glass buildings arranged in a master-planned setting featurreal estate holdings and long-term portfolios. The company is
ing national anchor tendefining a new Las Vegas
ants, retail pads and inas a city able to provide
line retail opportunities.
business infrastructure
”Marnell Properties is creating three
Marnell Airport Center,
that will enhance the cahigh-profile business communities in Las Vegas.“ M a r n e l l P r o p e r t i e s
pabilities of growing businewest development proness and leading edge
ject, broke ground in Aucompanies serving local,
gust of 2007. The master-planned office park will be adjacent
national and international markets.
to McCarran International Airport and will feature three, threeMarnell Properties is creating three high-profile business
story 81,000 square feet office buildings and a single-story
communities in Las Vegas. Marnell Corporate Center is a
office building.
736,000 square foot master-planned Class A office campus,
In each of these projects, Marnell Properties is defining
strategically located at the intersection of Interstate 15 and
standards that meet the needs of a growing and increasingly
I-215 and adjacent to McCarran International Airport. At
sophisticated business community. The master commercial
build-out the 37-acre master-planned office campus, Mardeveloper provides valuable opportunities for clients, employnell Corporate Center will feature 12 buildings of office
ees and the industry at large by defining new and higher stanspace and amenities.
dards and expectations that create more productive work enAnother Marnell Properties venture, McCarran Marketplace,
vironments and make a distinctive statement.
is a 75-acre community retail center, which will include an es-
M
96
Sustainable Development Committee
A Greener Nevada
n 2006, NAIOP formed its newest
committee led by Pamela Vilkin
who is also the president of the
local chapter of the US Green Building
Council. The Sustainable Development
Committee’s main focus is to educate the
membership about the benefits of green
building and responsible development.
“Sustainable Development is an issue
that’s time has come,” said Tony Dazzio,
chapter president. “It is critically important
to the community at large and the industry
specifically.”
Las Vegas has more than 25 buildings
registered for Leadership in Energy and Environmental Design (LEED) and three of
those have received the designation. Several categories are judged to be certified including the site, water efficiency, energy efficiency, material and design.
The committee is already making an impact on the organization. It has identified
four main goals including identifying and
understanding criteria for LEED Building
Certification, promoting the use of best
practices among NAIOP members, gathering and monitoring information regarding
sustainable development, and attending
key conferences and educational events
about sustainable development.
The Sustainable Development Committee
has studied samples of environmentallyfriendly construction materials, such as
wall coverings and durable flooring products. Research is available on the chapter’s
Web site to provide members with a simple
source for sustainable resources. The Sustainable Development Committee coordinated Education Committee to present “The
Greening of Nevada,” an educational seminar that was the first opportunity for the
new committee to inform the membership
about their growing scope of activities.
Other topics of interest are the incentive
programs being offered by local
utility companies. During a recent meeting,
the group learned of trends in the construction recycling industry and will soon make a
presentation on the building commissioning
process.
I
“Sustainable Development is an issue
that’s time has come.”
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Industry Trends Committee
Keeping Members Up To Speed
eeping abreast of industry
trends is critical for NAIOP
members. Three years ago,
NAIOP established a committee to identify and monitor industry trends that impact the commercial real estate industry.
It is this committee’s responsibility to educate members and leadership about the
effects these trends may have on the industry and the community as a whole.
Rick Myers, past president of NAIOP, established the Industry Trends Committee
and serves as its chair.
When the committee was formed,
the initial topic was the emergence of
green buildings and Leadership in Energy and Environmental Design (LEED) certification. The committee followed the
trend and identified the people who
could educate the membership about impact. It worked closely with the Educa-
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98
tion and Program Committees to schedule seminars and meetings to discuss
the topic. The chapter’s leadership identified this trend as a growing issue in the
valley. To further educate and assist
members, it formed the Sustainable Development Committee.
“This example is exactly what the
group is trying to accomplish – identifying new trends and mobilizing the membership,” said Myers.
Of current concern, is the lack of
available land for commercial development in the Valley. This is specifically an
issue with the majority of NAIOP’s industrial development members. As housing
demand has increased in recent years,
much of the land suitable for warehouse
development and distribution buildings
was rezoned and purchased by home
builders, creating a concern that the dis-
tribution facilities needed to support a
rapidly growing economy, would become
far more difficult to develop.
NAIOP worked closely with local and
national elected officials to bring this
issue to the forefront and develop solutions to the emerging problem.
Members have been researching
the diminishing supply of industrial
land caused by BLM policies, escalating land costs, rezoning to residential
use and other factors and educating
elected officials. The group is planning
to commission a study to evaluate future alternatives.
“We feel it is our responsibility as a
chapter to stay ahead of these trends,”
chapter President Tony Dazzio said.
“The committee continues to be forward-thinkers, presenting the most
pressing emerging trends to members.”
Approaches Sell-Out
rudential-IPG CRES expects to
sell out by year’s end at its
Shea at Tenaya Village office
park -– thanks to high demand in its underserved section of North Las Vegas.
The $21 million, 100,000-square-foot
office project fills a void in the area,
which offers few alternatives for miles,
says Miriam Campos-Root, vice president of Prudential-IPG CRES.
Located on a 10-acre parcel fronting
Azure Way, construction on the seven
building complex is nearing completion.
“The final two buildings are currently
under construction and to date the complex is about 75 percent sold,” CamposRoot said.
With the market returning to normal
after a red hot pace, the sales rate for
Shea at Tenaya Village remains brisk.
Campos-Root predicted all unit sales
would close by the end of 2007, two
years after its marketing of the project
began.
Prudential-IPG CRES had the client in
mind during the planning process. They
decided not to build the units to suit,
opting rather to let buyers call the shots
on the interior, Campos-Root noted.
Included in each gray shell is the concrete slab, utility connections and fire
sprinklers. The buildings feature modern
architecture with stucco and stone facades, as well as abundant signage and
parking.
Among the project’s favorable attributes is its close proximity and exceptional visibility to US 95 and I-215 Beltway.
Besides professional office interests, it
also has carved out another niche. “This
project has been popular with medical
users because of the proximity to the
new Centennial Hills Hospital,” CamposRoot said.
The project offers a complimentary
mix of tenants such as a chiropractic office, internal medicine, real estate
agency, insurance company, an orthodontist and dentistry practices.
There is still availability in this muchneeded office park in the Northwest area
of town. Currently, the project is selling
P
“This project has been popular
with medical [users] because
of the proximity to the new
Centennial Hills Hospital.”
at about $230 to $250 per square foot.
There are two remaining units in the
one-story buildings, sized at 2,012 and
3,089 square feet. The project’s remaining two-story building, sized at 28,202
square feet can be subdivided into units,
as small as 4,000 square feet.
99
Communications Committee
Resource of Information for Members
or an organization the size of
NAIOP, communicating with
members is extremely important.
The chapter’s Communications Committee’s primary focus is to let members know
what is happening both inside and outside
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100
the group. NAIOP keeps members informed
with a number of communication forums
including its Web site, its newsletter, NAIOP
NOW, and through the media.
The chapter’s Web site is a useful
tool in communicating with members.
The site includes links to news, events,
memberships, sponsorships, committees
and other resources. Soon, it will offer interactive registration where members
can sign-up for events and programs directly on the site. Broader in scope than
the magazine, the web site offers members a quick way to contact key members
of the organization, as well as an opportunity to learn more about what is going
on within the organization.
NAIOP NOW is the chapter’s quarterly newsletter. The publication has grown
in size from a black and white newsletter
to a 50 page glossy magazine. The publication provides recaps of the chapter’s
activities, informs members about upcoming events, profiles members and
their companies and educates members
on trends in the industry. In addition to
the editorial content, the chapter also
sells ads to members allowing them to
get in front of other members who may
utilize their services or products.
“Our focus is to keep members informed about what the organization and
fellow members are doing, making it easier
for member-to-member interaction and for
doing business with one another,” said
Communications Committee chair Karen
Marshall. “In the back of the newsletter we
have a section called ‘Newsbites.’ This section gives members the opportunity to get
the word out about their projects, new
hires, deals, etc. to other members.”
Another way NAIOP communicates
with members and the community is
through the media. Members of the Communications Committee work closely with
MassMedia, the organization’s communications agency, to promote the chapter’s
activities and initiatives to the local press.
“We invite the media to every event
we have,” said Tony Dazzio, president of
the chapter. “We think it’s important to
have a relationship with the reporters and
editors who cover our industry. I think we
serve as a great resource for them when
they are writing articles about commercial real estate.”
“The Bus Tour offers ob-
Bus Tour Committee
vious benefits to members who wish to learn
more about the developments and building
trends occurring
throughout the Valley.”
very year NAIOP hosts its annual
Bus Tour. The event tours members around town to different commercial, industrial, retail and office spaces, as
well as other developments. The tour gives
members the opportunity to visit projects developed by their peers. The Bus Tour is one of
NAIOP’s most popular events, with more than
420 members boarding buses for a sightseeing tour around the Valley. The tour is meant
to educate members on the development activities throughout the Las Vegas Valley. In addition to the educational component, the Bus
Tour also gives attendees the chance to network with developers and associate members who reserve booths at the exhibit fair.
The 19th Annual Bus Tour theme is the
“Amazing Bus Tour,” with thematic similarities to CBS’s hit show. Attendees of the tour
will be competing against each other, adding
an element of fun, competition and interactivity. At each stop, along with learning detailed
information about the property, games will be
played and teams will rally behind their representatives to obtain clues that will help
them win the tour. As usual, the tour will culminate with a cocktail party, held this year at
the All American Sports Park on Sunset Road,
just south of McCarran International Airport.
“The Bus Tour offers obvious benefits to
members who wish to learn more about the
developments and building trends occurring
throughout the Valley,” said Chris Larsen, Bus
Tour Committee Chair. “It also offers valuable
networking opportunities through our exhibit
booths and cocktail party.”
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101
Membership
Committee
Attracting New Members
ecoming the fourth largest chapter
in the nation didn’t happen by accident. The Membership Committee
of the Southern Nevada chapter was established to bolster the organization’s ranks and
develop strategies to monitor growth and
member involvement. Each year, the Membership Committee sets a goal to attract potential
members, educate new members and provide
value to current members. To that end, the
committee coordinates a variety of activities
throughout the year.
Attracting new members to the organization
is one of the main focuses for this committee.
The organization continues its outreach to encourage principal members, or developers,
and associate members, industry professionals who provide services to developers, to the
chapter. Equally important is an increased emphasis on attracting a younger generation to
the organization. The chapter has embraced
the national organization’s “Developing Leaders” program and host mixers for younger
members. To entice these groups as well as
others, the Membership Committee uses several outreach methods.
“We have two call-a-thons per year targeting people who have come to breakfast
meetings and didn’t join, or companies who
have one representative who is already a
member and we encourage others in firm to
join,” said Bill Wilson, chair of the Membership Committee.
As the organization grows, the Membership Committee recognizes the need to
help new members discover the benefits of
their membership.
In 2007, the committee began hosting
“New Member Orientation Workshops” to
educate members about the organization
and its outreach. More than 20 people attended the first workshop.
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102
BENEFITS OF MEMBERSHIP
To reach its current members, the committee coordinates members-only networking events, including mixers at venues such
as Celebrity Night Club, World Market Center; the Annual Putting Tournament; and the
Annual Holiday Luncheon.
Wilson said the events are held to allow
members to meet each other in a social setting. After all, most people join the chapter to
meet and network with industry leaders.
“NAIOP allows you to meet people in the
commercial real estate community that you
might not otherwise meet,” Wilson said.
President Tony Dazzio says in not just about
meeting people but meeting the right people
that attract many to NAIOP.
“A large percentage of our members are
leaders in the industry,” said Dazzio. “If
you have a question, comment or observation, the person sitting next to you is most
likely part of the executive team in their organization responsible for making decisions that shape the growth of the Valley.
You never know who you may run into at a
NAIOP event. That’s why we encourage
members to get involved and attend.”
Legislative Voice
Through our Government Affairs Committee,
we are able to educate our members about the
issues that most affect them.
National Exposure
We are part of a national organization with exposure to educational forums and networking
opportunities on a national level.
Local Exposure
Our members can expose their companies
through our sponsorship opportunities and
events to attain greater visibility. Through the
Spotlight Awards program, member companies, projects as well as individuals are recognized by their peers.
Social
Our chapter holds monthly breakfast meetings
featuring presentations by experts on topics affecting the commercial real estate industry and offering our members networking opportunities with
more than 300 individuals involved in the Southern
Nevada Commercial Real Estate Industry.
Also, golf tournaments are held in the spring
and fall, offering a fun and enjoyable networking
opportunity, and an Annual Fall Bus Tour showcases new developments in the Las Vegas area.
Education
With at least five events each year, these programs and seminars are designed to help you
maximize your professional development and
business opportunities.
Community Service
NAIOP members believe the key to a
successful community is in giving back to its'
neighbors and making a difference in the
growth of the Las Vegas Valley.
Chapter Activities
Our members can get involved in a number of committees to help expand their
own membership. These include: Program
Committee, Golf Tournament Committee,
Education Committee, Bus Tour Committee, Government Affairs Committee,
CREPAC (Commercial Real Estate Political
Action Committee), Communications Committee, Sustainable Development Committee, Community Service Committee and
the Spotlight Awards Committee.
Our members do business
with members!
103
NAIOP Presidents
Tony Dazzio
2007 President
2006 • Ralph Murphy
2005 • Casey Jones
2004 • Rick Myers
2003 • Kevin Higgins
2002 • Rod Martin
2001 • Mark H. Bouchard
2000 • Richard D. Smith
1999 • Edward C. Lubbers, Esq.
1998 • Michael Newman
1997 • Robert A. “Tim” Snow, Jr.
1996 • Steven O. Spaulding
1995 • Micki Johnson
1994 • William R. Borinstein
1993 • Bruce G. Barton
1992 • Mark T. Zachman
1991 • Vernon L. Danielson
1990 • Donald R. Sanborn
1989 • Wai-Nung C. Lee
1988 • Kevin M. Buckley
1987 • Donald W. Haze
1986 • Donald W. Haze
104
2007 OFFICERS, DIRECTORS AND COMMITTEE CHAIRS
NAIOP 2007 Board of Directors: Back Row (L to R): Michael Newman, Rod Martin, Rick Meyers, Tony Dazzio, Ralph Murphy, John Restrepo, Kyle Nagy
Front Row (L to R): Dan Doherty, Katrina Ferry, Sallie Doebler, Suzette La Grange Not Pictured: John Ramous, Brad Schnepf, Lee Phelps, Jeff Manning and Kevin Higgins
EXECUTIVE COMMITTEE
President
Tony Dazzio
Burke & Associates
President-Elect
John Restrepo
Restrepo Consulting Group
Immediate Past President
Government Affairs Committee Chair
Ralph Murphy
Jackson-Shaw Company
Treasurer
Rick Myers
Thomas & Mack Development Group
Secretary
Sallie Doebler
United Construction Company
Chapter Executive
Katrina Ferry
Alternative Management
DIRECTORS
Director
Dan Doherty
Colliers International
Director
Kevin Higgins
Director
Suzette La Grange
Colliers International
OTHER COMMITTEE CHAIRS
Communications Committee Chair
Karen Marshall
Roel Construction
Director
Jeff Manning
Action Building Group
Programs Committee Chair
Ellie Shattuck
Martin-Harris Construction
Director
Rod Martin
Majestic Realty Co.
Bus Tour Committee Chair
Chris Larsen
Dekker / Perich / Sabatini
Director, Education Committee Chair
Kyle Nagy
CommCap Advisors
Director
Michael Newman
Trammell Crow Company
Director, Golf Tournament
Committee Chair
Lee Phelps
Real Estate Group, Nevada, LLC
Director
John Ramous
Harsch Investment Properties
Director
Brad Schnepf
Marnell Properties
Community Service Committee Chair
Barbara Demaree
Southwest Gas Corporation
Sustainable Development
Committee Chair
Pamela Vilkin
Tradewinds Construction
Sponsorship Committee Chair
Mike Carroll
LM Construction Company, LLC
Membership Committee Chair
Bill Wilson
Nevada State Development Corporation
105
NAIOP SOUTHERN NEVADA CHAPTER
2007 PRESIDENT’S CIRCLE SPONSORS
PLATINUM
CB Richard Ellis
Cox Communications
EJM Development Co.
Embarq
BRONZE
Access Commercial Mortgage
Affordable Concepts, Inc.
Bank of Nevada
Bergelectric Corporation
CENTRA Properties, LLC
Christopher Commercial
City National Bank
CommCap Advisors
GOLD
Community Bank
Glen, Smith & Glen Development
Dekker/Perich/Sabatini, Ltd.
Majestic Realty Co.
Granite Exchange Services, Inc.
Marnell Properties
Helix Electric
Plise Companies, LLC
Irwin Union Bank
Roel Construction Company, Inc.
Jackson Shaw Company
Jaynes Corporation
Juliet Land Company
KeyBank
S I LV E R
KKE / HFTA Architects
Langan Engineering & Environmental Services
Lee & Sakahara Architects
Bank of America Nevada
Martin-Harris
Construction Co.
CIP Real Estate
Martin
&
Martin, Inc.
Colliers International, Inc.
Nevada
State
Bank
Commerce CRG/Cushman & Wakefield Alliance
OGI Environmental, LLC
CORE Construction
Opulence Studios Inc.
DP Partners
Orgill/Singer & Associates
Grubb & Ellis | Las Vegas
Panattoni Development Company
Harsch Investment Properties, LLC
RBF Consulting
JMA
Real Estate Group Nevada LLC
ReMax Millennium Commercial
L M Construction Co., LLC
Restrepo Consulting Group LLC
LaPour
Roche Constructors, Inc.
Lee & Associates
Sansone Companies
Marcus & Millichap
Southwest Engineering
Molasky Group of Companies
SR Construction, Inc.
Nevada Power Company
Stoltz Management
1 Velocity, Inc.
Strata Building Group, LLC
Prudential CRES
Sun Commercial Real Estate
Terracon
Silver State Bank
Ticor Title
Stanley Consultants, Inc.
The
Korte
Company
The Penta Building Group, Inc.
TRC
TWC Construction, Inc.
WESTAR Architectural Group/NV, Inc.
Western Risk Insurance
WPH Architecture. Inc
Wells Fargo
WRG Design, Inc.
106
National Association
of Industrial and
Office Properties
Southern Nevada Chapter
MISSION
The mission of the Southern
Nevada Chapter of the National
Association of Industrial and
Office Properties is to represent
and promote quality commercial
development in Southern Nevada.
VISION
Our vision is to be the leading respected authority on issues affecting commercial real estate development in
Southern Nevada that will:
• Include all commercial developers
and owners in Southern Nevada as active, engaged members.
• Be an information resource delivering
value and knowledge to all our members.
• Be recognized by state and local public policy makers as a resource for information and advice regarding proposed regulations and legislation.
GOALS
• To represent those who are involved
in the design, construction, development, sale/leasing, ownership and operation of commercial real estate.
• To encourage interaction and increased understanding among the
professionals involved in all aspects
of commercial real estate.
• To enhance the public’s and public
officials’ understanding of the importance of commercial real estate.
• To provide member education and encourage educational programs in
Southern Nevada.
107
2007 NAIOP MEMBER COMPANIES
1 Velocity, Inc.
1st Commerce Bank
Access Commercial Mortgage
ADT Security Services, Inc.
All World Promotions
Alternative Management
American Asphalt & Grading Co.
American Fiber Systems, Inc.
AmPac Development Company
Anchor Development
Apex Industrial Park
Applied Analysis
ARGO Corporation
Aspen Communications
Asset Preservation, Inc.
Assurance Ltd.
Asylum Design, LLC
Aztec Engineering
Ballard Spahr Andrews & Ingersoll, LLP
Bank of America Nevada
Bank of Nevada
Bank of the West
Barker Drottar Associates, L.L.C.
Bergelectric Corporation
Blue Heron LLC
Bonneville Mortgage Company
Brian Berg Insurance Services, Inc.
Brooks Corporation General Contractors
Brown & Brown Insurance
Builders Capital, Inc
Burnham Real Estate
Business Community Capital
Business Properties Group
BusinessSuites
Capital West Development, LLC
CapSource Inc.
Carpenter Sellers Architects
Cartmill Rogers Construction Company
Caviness Construction Company, Inc.
CB Richard Ellis
Centra Properties, LLC
Centra Realty Corporation
Chicago Title
Christopher Commercial
CIP Real Estate
Citation Property Group
City National Bank
City of Henderson Economic Development
City of Las Vegas
City of North Las Vegas
Civil Works, Inc.
Clark Construction Group, LLC
Clark County Comprehensive Planning
Clark County Las Vegas Township Constable
Coldwell Banker Commercial ETN Real Estate Services
108
Coldwell Banker Premier Realty
CommCap Advisors
Commerce CRG/Cushman & Wakefield Alliance
Commercial Executives
Commercial Roofers, Inc.
Communication Electronic Systems
Community Bank of Nevada
Conde Del Mar Properties
Construcion Testing Services, LLC
Construction Consultants. Inc.
CORE Construction
Cornerstone Company
CORT Business Services
Cox Communications
Creative Wealth Strategies Williams Group
Crescent Real Estate Equities, Ltd.
Crisci Builders
D. R. Development, LLC
Desert Community Bank
Design Concepts, Inc.
DesignCell Architects
DFD Cornoyer Hedrick
Distinctive Real Estate & Investments, Inc.
Diversified Capital Funding
Diversified Communications Solutions, Inc.
Diversified Real Estate Group
Diversified Realty
Domingo Cambeiro Corp.
DP Partners
Dragon Ridge Country Club
DSA Development
Dunn-Edwards Paints
Dunrite Management LLC
Durango Construction, Inc.
Dwyer - Curlett & Company
Dynamic Commissioning Solutions, Inc
Ed Vance & Associates
EJM Development Co.
EKN Engineering, Inc.
Embarq
Equastone
Equity Title of Nevada
Ernst & Young LLP
ESG Construction Consultants
Ethos/Three Architecture
Faciliteq of Nevada, Inc.
Familian Development Group, Inc.
Fidelity National Title Agency of Nevada, Inc.
First American Title Co. of Nevada
First Horizon Construction Lending
First National Bank of Nevada
First Republic Bank
FKC Properties, Inc.
Flack + Kurtz, Inc.
Fluoresco Lighting & Signs
G.C. Garcia Planning & Development Services
GE Real Estate
Gemstone Development LLC
Gensler of Nevada
Geocon Inland Empire, Inc.
Geotechnical & Environmental Services, Inc
GeoTek, Inc.
Goldwater Capital Nevada
Greenspun Media Group
Harris Consulting Engineers
Hatcher Constuction Company
Haworth, Inc
Hedley Construction & Development
Helix Electric
Heller Companies
Henriksen/Butler Design Group
Heritage Surveying
Hill International
Hollister Construction Company
Houldsworth, Russo & Co.
Indigo Architecture, Inc.
Inter-Tel Technologies, Inc.
Investment Equity Development
IPG Commercial Real Estate Services
IPX1031
Irwin Union Bank
J & D Inc.
J.D. Construction, Inc.
J.P.L. Engineering, Inc.
Jackson Shaw Company
Jaynes Corporation
JMA
Joel Laub & Associates
Johnson Jacobson Wilcox
JP Dinapoli Companies
Juliet Land Company
Kaercher Campbell & Associates Insurance Brokerage
Kalb Construction Company
Keller Williams Realty
Ken Templeton Realty & Investments, Inc.
KeyBank
Kimley-Horn and Associates, Inc.
Kitchell Contractors
KKE / HFTA Architects
Kummer Kaempfer Bonner Renshaw & Ferrario
L.M. Construction Company, LLC.
Land America Commercial Services
Land America Financial Group
Landry & Associates, Inc.
LaPour
Las Vegas Development Company, LLC
Law Office of Garry L.Hayes
Leavitt Insurance Agency
Ledcor Construction Inc
Lee & Associates
Lee & Sakahara Architects
Lied Institute for Real Estate Studies
Link Technologies
LND Construction
2007 NAIOP MEMBER COMPANIES
Longford Group, Inc.
Lucchesi Galati Architects, Inc.
Lyle Brennan Investment
Majestic Realty Co.
Manning Finance LLC
Marcus & Millichap
Mark IV Capital
Mark L. Fine & Associates
Marnell Properties
Martin & Martin, Inc.
Martin-Harris Construction Co.
MassMedia
Matt Construction, LLC
McCarthy Building Companies, Inc.
McDonald Carano Wilson LLP
McFadden Insurance Agency Inc
Metro Commercial Properties
Mountain West Small Business Finance
Nadel Architects Inc.
NAI Horizon
Nevada Commerce Bank
Nevada Development + Realty Co.
Nevada Pacific Realty Capital
Nevada Power Company
Nevada Real Estate Group Nevada, LLC
Nevada State Bank
Nevada State Development Corporation
Nevada Title Company
New Growth Commercial Real Estate Company
NextGen Integrated Solutions
Nigro Development
Noble Title
Noggle Exchange
Northwestern Investment Management Co., LLC
Oakview Construction
Oakwood Corporate Housing
Odyssey Real Estate Capital
Office Furniture USA
OGI Environmental, LLC
Old Republic Title Company of Nevada
Olympia Development Corporation
OneCap
Opulence Studios Inc.
Orgill/Singer & Associates
Origin Properties, LLC
OZ Architecture of Las Vegas, LLC
PGAL
Panattoni Construction Inc.
Panattoni Development Company
Panelized Structures, Inc.
Paragon Commercial Real Estate LLC
Parker Scaggiari
Parsons Behle & Latimer
PCI Group
Perlman Architects, Inc.
Pezzillo Robinson
Poggemeyer Design Group, Inc.
Post, Buckley, Schuh & Jernigan, Inc.
Professional Roofing Services
Progressive Roofing d.b.a. Progressive Services Inc.
ProLogis
Prudential Americana Group, REALTORS
Prudential CRES
R & O Construction
R3D Inc.
RAFI Architecture
RBF Consulting, Inc.
RDS Associates, LLC
RE/MAX Extreme
Real Estate Services Group
Regal Financial Bank
REMAX Commercial Professionals, Inc.
ReMax Millennium Commercial
Remax Platinum
Resource Reality Inc.
Restrepo Consulting Group, LLC
RG Group
Rice Silbey Reuther & Sullivan, LLP
RMI Investment Services
Roche Constructors, Inc.
Roel Construction Company, Inc.
Romano Realty, Inc.
RRC Consulting Group, Inc.
RSM McGladrey
Saddleback Associates
Sansone Companies
SAXA, Inc.
Scott L. Baker Architect, Inc.
Service 1st Bank of Nevada
SH Architecture
Sierra Health Services, Inc.
Signature Homes
Silver State Bank
Sky Mesa Realty
Sletten Companies of Nevada Inc.
Snell & Wilmer, LLP
Snow Management Services, LLC
Southern Nevada IBEW/NECA - LMCC
Southwest Engineering
Southwest Title Company
Spectrum Surveying & Engineering
SSA Architecture
St. Croix Capital Corporation/ NLV Industrial Center LLC
Stable Development, LLC
Stanley Consultants, Inc.
Stantec Consulting, Inc.
Stewart Development Company and Valley Construction Company
Stewart Title of Nevada
Stoltz Management
Strata Building Group, LLC
Studio VBM, LLC
Summit Builders of Nevada
Summit Engineering Corporation
Sun Commercial Real Estate
Sunland Asphalt
Tamares Real Estate Holdings, Inc.
Tate Snyder Kimsey Architects
Terra West Realty
Terracon
Territory Incorporated
The Bentley Group Real Estate Advisors
The Business Press
The CW Group
The Gilmore Company
The Howard Hughes Corporation
The Korte Company
The Penta Building Group, Inc.
The ReD Report, LLC
The Regus Group
The Ribeiro Corporation
The Staubach Company
The WLB Group, Inc.
Ticor Title
TitleOne
Tower Realty & Development. LLC
Town & Country Bank
TRC
Trident Property Management, Inc.
Triple Net Properties, LLC
TWC Construction, Inc.
U.S. Dept. of Housing & Urban Development
University of Nevada Las Vegas
US Bank
V POINT- A TRC Company
Venture Corporation Las Vegas
Walter P. Moore
Water Street South ,LLC
Watt, Tieder, Hoffar & Fitzgerald, LLP
Wells Fargo Bank
West Coast Development Partners, LLC
WESTAR Architectural Group/NV, Inc.
Westcor 1031 Exchange Company
Western Pride Construction
Western Realco
Western Risk Insurance
Western Technologies Inc
Western Wall & Ceiling Contractors Association
Westland Enterprises
Whiting-Turner Contracting Company
Windermere Prestige Properties
WPH Architecture. Inc
WRG Design, Inc.
Wright Engineers
XO Communications
Young Electric Sign Company
Zappos.Com Inc.
Zions Small Business Finance
Zone Engineering
109
2007 Bus Tour
Committee
Chairman
Chris Larsen
2007 BUS TOUR SPONSORS
LUNCH SPONSOR
COCKTAIL PARTY SPONSOR
Committee
Laurie Adair
CB Richard Ellis
Kassi Belz
MassMedia
Connie Brennan
GUIDEBOOK SPONSOR
WATER BOTTLE SPONSOR
TOTE BAG SPONSOR
SHIRT SPONSOR
David Cohen
GO KART SPONSOR
Panattoni
Adam Courrier
Running Bull Productions
LANYARD SPONSOR
Katrina Ferry
Southern Nevada Chapter NAIOP
Suzette La Grange
SUB-MARKET SPONSORS
BUS SPONSORS
Natalie Manning
Manning Finance LLC
April McCoy
Courtney Murphy
The ReD Report, LLC
Steve Paravia
EXHIBITORS
Richard Purvis
Fluoresco Lighting & Signs
Jeff Rensmon
Jaynes Corporation
Bridget Richards
New Growth Commercial
Real Estate Company
Andy Sullivan
Walter P. Moore
Mike Tabeek
Coldwell Banker Commercial ETN
Sandy Thompson
Dwyer - Curlett & Company
Garrett Toft
Chuck Witters
Lee & Associates
Tara Young
Kummer Kaempfer Bonner
Renshaw & Ferrario
110
Coldwell Banker Commercial ETN Real Estate Services
Marnell Properties
DP Partners
LaPour
Community Bank
EJM Development Co.
LM Construction Co., LLC
Wells Fargo SBA Lending
NextGen Integrated Solutions
CB Richard Ellis
City of North Las Vegas
Coldwell Banker Commercial ETN
EJM Development Co.
Haworth
Jaynes Corporation
Landiscor
Lee & Associates
LM Construction
Martin-Harris Construction
MassMedia
Perkowitz+Ruth Architects
Professional Roofing Services
Restrepo Consulting Group
SR Construction
Stanley Consultants
Tradewinds Design / Building Interior
Wells Fargo SBA
WRG Design, Inc.
XO Communications

ETN Real Estate Services - Nevada Business Magazine

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