T ABLE OF CONTENTS Central Submarket 7 Henderson Submarket Sponsored by The Korte Company 10 Airport Submarket Sponsored by Marnell Properties 26 Southwest Submarket Sponsored by Juliet Property Company 34 Bus Tour Map 44-45 Northwest Submarket Sponsored by Shea Commercial 56 North Submarket Sponsored by DP Partners 66 2005 Bus Tour Sponsors 80
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CENTRAL ket. Over the last year, various properties have changedhands variouspropertieshave Overthelastyear, ket. emergence oftheHendersonsubmarketandSouthwestsubmar- affectedbythe beennegatively have areolderproperties that ter, withtheexceptionofHughesCen- properties inthecorridor, Themajorityoftheoffice itive absorptionoverthelastquarter. has thebulkofvacancy inthissubmarketandhasseenpos- Thiscorridor whichwillseeitsfirsttenantsin 2007. April way, HughesPark- of3883Howard is inthefinalconstructionstages CrescentRealEstate HughesCenter. development oftheHoward withtheexceptionofcontinued development inrecentyears, Las town Vegas. West Sahara Avenue anddown- corridors areEastFlamingoRoad, The FlamingoRoadofficecorridorhasnotseenasignificant Bruce Follmer SUBMARKET SPONSOR supporting NAIOP! Thanks for T eral officespaceand8.94percentin had a9.22percentvacancy ingen- rate Thissubmarket of medicalofficespace. general officespaceand3.1millionSF 9.3millionSFof with approximately 2nd quarter 2006. The primary office Theprimary 2nd quarter2006. theendof medical officespaceat corridors intheLas Vegas Valley composed ofseveralolderoffice he CentralOfficeSubmarketis Central OfficeSubmarketOverview yBueFlmr CBRichardEllis by BruceFollmer, Southern Nevada. Excellent location for medical/professionaltenants. Excellentlocation Southern Nevada. Directly acrossthe street from Valley HospitalandUniversityMedicalCenter of COMMENTS: Major Tenants: Asking Rates: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: T $1.78 persquarefootmonth. of whichisslightlyabovethemarketaverage foot permonth, inthissubmarketare$1.82persquare leaserates Average beds. inthissubmarketwith1,228hospital hospitals currentlyoperate Three medical officespacewithavacancy of4.06percent. rate completion. nearing building, Nevada Water Authority Las Vegas Center/Southern isthe265,000SFMolaskyCorporate ThenewestofficeprojectinDowntown tem andlocalgovernment. Las of officespaceindowntown thecourtsys- Vegas hasserved Themajority momentum. turned thecornerandstartedtogather over thenextseveralyears. landlordsshouldbeabletomaintainstablevacancy rates access, ofthe the continuedgrowth Valley andthiscorridor’s goodfreeway With vacancy intheNorthwestLas with thelow rates Vegas Valley. coupled tive easeofaccesstotheNorthwestportion Valley, the emergenceofnewofficesubmarketsbecauserela- Sahara Avenue hasweathered of theSouthwestOfficeSubmarket. impactedbytheemergence hasbeennegatively fice corridorsthat ital inextensiverenovations. investedasubstantialamountofcap- have and thenewowners ype: ear Built: 1 The MedicalDistrictjustwestofI-15has1,365,162SF Las Downtown Vegas finally redevelopmentseemstohave The SaharaOfficeCorridorisanotheroneofourtraditionalof- Office/ Medical Under Construction W F To eb-07 estar wer Realty and Development / Eron Kennedy /702-366-0444x101 wer RealtyandDevelopment/EronKennedy $2.00 NNN University MedicalCenterofSouthernNevada BE/JnHbc,CraCl,BruceFollmer /702-369-4800 Carla Cole, CBRE /JanHoback, W estern USContractors 30,000 Shadow LaneOfficeBuilding 701 Shadow Lane 701 Shadow CENTRAL 701 Bridger Ave. 701 Bridger 701 Bridger Avenue 701 Bridger 68,714 1,2,3, 47?? 1,2,3, estern US Contractors W NAIOP Bus Tour Committee NAIOP Bus Tour Have a wonderful Bus Tour! CBRE / Jan Hoback, Carla Cole, 702-369-4800 / Bruce Follmer Pyatt Sylvestri & Hanlon, Cotkin Collins & Ginsburg, Dial Reprographics $2.45 MG wer Realty and Development / Jason Thompson / 702-366-0444 / Jason wer Realty and Development estar To Aug-06 W Because NAIOP wanted to make sure each property on got the attention it deserved,Tour Bus this year’s the tour was divided into two routes, roughly east and west of the I-15 freeway. Because of this, the numbering system we used to use doesn’t flow very well. Please take our word for it: the properties as listed here belong in the submarket where they’re located, even if the numbering system doesn’t seem to make much sense.the map Please refer to on pages 60 and 61. Completed Office 3 ear Built: ype: T Developer: Leasing Agent: General Contractor: Y Architect: Status: Project Square Footage: Development Acreage: Asking Rates: Major Tenants: COMMENTS: Completely renovated building, replacing and upgrading all building systems. New park- parking ratio.ing structure and retail annex added to provide a 5:1000 100 City Parkway 3883 Howard Hughes Molasky Corporate Center Corporate Molasky 3883 Howard Hughes Parkway 238,957 285,000 3.00 Kitchell Contractors Marnell Corrao Colliers International / Tom Stilley or Lizz Stilley / 702-735-5700 Stilley or Lizz Stilley Tom Colliers International / Burnham Real Estate/ Keith Bassett / 702-384-4488 Snell & Wilmer,Snell & Boyd Gaming, Echelon Resorts, A.G. Spanos Southern Nevada Water Authority Water Southern Nevada $3.00 - $3.25 FSG $3.25 FSG 3883 Howard Hughes Parkway, landmark new Crescent Real Estate’s all 2007 Crescent Real Estate Equities, LTD. / Bob Boykin / 714-840-1170 The Molasky Group of Companies / Rich Worthington / 702-725-0155 Worthington / Rich The Molasky Group of Companies Jun-07 F HKS Architect Inc. KKE / HFTA Under Construction Under Construction Office Office 2 47 ear Built: ear Built: ype: ype: ludes water-conserving plantings and multi-functional spaces around a central gar- ludes water-conserving Leasing Agent: Architect: General Contractor: Y Project Square Footage: Development Acreage: Asking Rates: Major Tenants: COMMENTS: Developer: Status: 11-story,office towerA newest building constructed will be the state-of-the-art Class in Hughes Center since 1999. The project features granite pre-cast panels, metal- “fin”.wrapped columns and an architecturally distinctive The second phase of the project, an 8-story tower, will complete the planned development for the site. In- c den court. T Developer: T Leasing Agent: Architect: General Contractor: Y Status: Project Square Footage: Development Acreage: Asking Rates: Major Tenants: COMMENTS: DowntownVegas' Redevelopment District is going GREEN with the Molasky Corpo- Las rate Center. The 16-story building will be Leader- mixed-use office and retail high-rise to set the and promises ship in Energy Design (LEED) silver-certified and Environmental tone for the area's future development. NORTHWEST and 12.1percentrespectively. increasedby11.5percent have whererates and Medicalspace, MostoftheincreasecamefromClassB cent overthepastyear. oralmost5per- anincreaseof$0.11, Gross, Month /FullService ed by2005’s absorptionofalmost 884,000SF. asdemonstrat- demandhashistoricallykeptpacewithsupply, er, Howev- was underconstruction;aconsiderableincreaseinsupply. almost800,000SF Asofthesecondquarter2006, 163,000 SF. same timelastyear. the adecreasefromthe7.4percentat isvacant, 383,000 SF, orjustunder 5.6percent, Approximately Southern Nevada. Leasing rates in the Northwest currently average $2.39/SF intheNorthwestcurrentlyaverage Leasing rates Absorption forthefirsttwoquartersof2006wasahealthy Dean Kaufman SUBMARKET SPONSOR supporting NAIOP! Thanks for T 06 itconsistsofover6.8millionSF 2006, Asofthesecondquarter the Beltway. andfinallynorthwhereitrejoins Road, easttoDecatur Summerlin Parkway, thennorthto Road toDurangoRd, mately 21percentofallofficespacein mately whichrepresentsapproxi- of space, h et eastalongDesertInn the west, bounded bytheI-215Beltwayto he Northwestofficemarketis Northwest OfficeSubmarketOverview yDa afa,ColliersInternational by DeanKaufman, legal, insurance, real estate anddental. realestate insurance, financial, legal, Idealformedical, abundantparking. landscaped, Heavily the development. chitectural styleandcontrolledsignprogram toensureharmoniousdesignthroughout ar- Compatible 15 acres. (US95) buildingsrangingfrom15,500-18,000 SFonapprox. aswellfreeway frontage 150,000SFofbuildings from4,500-9,000SF, es approx. Master-planned Mountain View ProfessionalPark compris- Only oneparcelremaining. COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: T lne omnte,enhancingthequalityoffuturegrowth. planned communities, officedevelopmentintomaster- areintegrating da Company Developerssuchas American Neva- demand forlocalofficespace. sotoowillthe times tomoreestablishedofficemarketsincrease, Ascommute growth. population pital willcontinuetostimulate andtheopeningofCentennialHillsHos- itively pricedhousing, ahealthysupplyofnewcompet- Strongjobcreation, ther growth. ofClass creased theinventory A productbyover27percent. in- Thesetwoprojectsalonehave the standardconsiderably. Centerat tennial Corporate Ann RoadandUS95hasalsoraised 127,000SFCen- PliseCompanies’five-story the nextfiveyears. aneweraofofficedevelopmentinSummerlinover ed tostimulate Business BankofNevada’s 150,000SFClass A projectisexpect- Atsixstories, oftheNorthwestsubmarket. creasing sophistication ventory intheNorthwestandawiderdiversityofproducttypes. ventory wecanexpectcontinuedhealthyabsorptionofofficein- Overall, tosmallertenants. willcontinuetocater Class Cprojectsthat opportunitiesremainfor increased, Thoughlandpriceshave ket. product willincreaseasmedium-sizedtenantsenterthesubmar- ClassBoffice Demandformulti-story under constructionabsorb. ype: ear Built: 4 We tofur- theNorthwestsubmarketisonapath Looking forward, anin- The diversityofprojectsunderconstructionindicates Office Completed
can expectapauseinClass A developmentastheprojects Swisher &Hall Architects Jun-05 Christopher Commercial/DouglasCrook702-243-2800 h BGNCne,D.Lua&JfryGti,D.Pasha Dr. Laura&JeffreyGitlin, Dr. The OB/GYNCenter, Christopher Commercial/DouglasCrook702-243-2800 R &OConstruction 15.50 150,000 Mountain View ProfessionalPark 6950 -7200SmokeRanchRd.
NORTHWEST T Wal-Mart, Smiths, Kohl’s, Businesses: Fastest-growing partofLas Vegas. tecito Pkwy. DurangoandGrandMon- onN. -frontage Retailavailable UHS CentennialHillsHospital. 3/4milefromNew the Montecito 1/4milefromI-215andUS95freeways. Town Center. justsouthof Class two-andthree-story A construction, One-, 300,000 SFdevelopment. COMMENTS: Orthodontist DDS, BrianChamberlin Center /Dr. andImaging Radiology dodontist / West Valley Imaging, Major Tenants: T Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: T Y General Contractor: Architect: Leasing Agent: Developer: fice userordistribution warehouseandlightassembly. eitherapure of- canfacilitate storefront façadeandlargebaysthat turing anattractive 2700Fire MesaStreetisaflexofficebuilding fea- to I-215viaCheyenneorLakeMead. accesstoUS95viaCheyenneRoadand full interstate Thecenterfeatures acres. The Las Vegas Technology Center-II isamixed-usebusinessparkcomprising 71.74 COMMENTS: T Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: re,Vn,HomeDepot. Vons, arget, ype: ear Built: ype: ear Built: te CitiCorp itle, 7 5 Office Office Under Construction Completed KKE KKE /HFTA Jan-05 F Thomas & Mack Development Group / Nicola Fryatt /702-260-1009 Thomas &MackDevelopmentGroup/NicolaFryatt Huffman Sarrett/702-341-8810 West Gould&Cody /Ryan eb-06 $2.00-$3.00 NNN/$235-$300perSFShell $1.45 NNN r v srwk D nornlg r ila agnrDS Pe- William Waggoner DDS, /Dr. Endocrinology MD, AviOstrowsky Dr. eaaTteCmay rgesv nuac,Land America Lawyers ProgressiveInsurance, Nevada Title Company, Thomas & Mack Development Group / Nicola Fryatt /702-260-1009 Thomas &MackDevelopmentGroup/NicolaFryatt Huffman Sarrett/702-341-8809 West Gould&Cody /Ryan TBD Brooks Corporation 3.96 25.00 300,000 SF 44,424 .DrnoD.&GrantMontecitoPkwy. DurangoDr. N. Huffman CentennialHillsCenter Las Vegas Tech CenterII 2700 Fire MesaSt. views fromhigherfloors. Balcony parkingstructureadjacenttobuilding. three-story freeway accessandvisibility, Direct Class inNorthwestLas A officedevelopmentlocated Vegas. 5-story, Beautiful, COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: n.Thisoffice projectisasymmetricalandarchitecturally distinctivedevelopment. ing. andasisterbuildingtotheexisting 7501 Trinity Peak Build- ban Class A officebuilding, Subur- 2501Fire MesaStreet isatwo-story cess toI-215viaCheyenneorLakeMead. access to US95viaCheyenneRoadandac- fullinterstate Thecenterfeatures acres. The Las Vegas Technology Center-II is amixed-usebusinessparkcomprising71.74 COMMENTS: CitiCorp Title, Lawyers Land America Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: Y General Contractor: Architect: 702-260-1008 Leasing Agent: 702-260-1008 Developer: T T ype: ype: ear Built: ear Built: 6 8 Office Office Completed Under Construction SH Architecture KKE /HFTA Aug-06 Sep-06 Thomas & Mack Development Group / Rick Myers or Nicola Fryatt / Thomas &MackDevelopmentGroup/RickMyersorNicolaFryatt ls opne,LLC/MitchSipp702-871-4065 Plise Companies, $2.10 NNN $2.05 MGor$225SFShell eaaTteCmay ProgressiveInsurance, Nevada Title Company, Thomas & Mack Development Group / Rick Myers or Nicola Fryatt / Thomas &MackDevelopmentGroup/RickMyersorNicolaFryatt BERnyBoded,JayneCayton/702-369-4800 Broadhead, CBRE/Randy Plise Development&Construction Matt Construction Matt 8.30 4.90 150,000 35,594 Centennial CorporateCenter Las Vegas Tech CenterII 5550 Painted Rd. Mirage 2501 Fire MesaSt.
NORTHWEST to allamenities. three-level parkingstructureandclose views, Balcony Upgraded finishesinside andout. Class forthisbeautifulsix-story stage A professionalofficebuildingtotaling150,000 SF. on Premier Northwestlocation West CharlestonnearI-215inSummerlinCentersetsthe COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: the-art WaterMark ExecutiveSuites. theprojectisanchoredbya25,000SF state-of- westofDurango, onCheyenne, cated Lo- puttinggreensandoutstandingviewsfrontingtheDurangoHillsGolfClub. balconies, officesuitesforleasewith office/retaildevelopmentfeatures This 60,000SFtwo-story COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: T T Y General Contractor: Architect: Leasing Agent: Developer: Y General Contractor: Architect: Leasing Agent: Developer: ype: ype: ear Built: ear Built: 11 9 Office Office Under Construction Under Construction KKE /HFTA Indigo Architects Apr F Business Bank of Nevada / John Guedry /702-952-4400 Business BankofNevada/JohnGuedry /702-871-4545 Investment EquityDevelopment/DaleDowers eb-07 -07 $2.55-$2.60 MG $2.10-$2.75 NNN Wa Business BankofNevada CBRE /BradPeterson /702-369-4800 Investment EquityDevelopment/BobHommel702-871-4545 terMark ExecutiveSuites TBD Investment EquityBuilders 4.00 150,000 60,000 Cheyenne Fairways BusinessCenter Business BankofNevada 10801 W. Charleston Blvd. Charleston 10801 W. 60W CheyenneAve. 8640 W. etr MajordevelopmentinSummerlin. Center. HughesCommercial directlyinthemiddle oftheHoward of SummerlinCentre Plaza, buildinginthe heart 6,000SFsingle-story class A officebuilding, 24,000 SFtwo-story, 1.5MilestoI-215, Hughes CommercialCenter. 30,000 SFdevelopmentintheHoward COMMENTS: CPA Jay Troska, Executive Suites, Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: otmoayacietrlsyewt evl adcpd park-likeenvironment. landscaped, architecturalstylewithaheavily a contemporary Thisbuildingisdesignedin (freewayinterchange). merlin Parkway and Town CenterDr. thenortheastcornerofSum- at Located HighlyvisiblefromSummerlinParkway. munity. intheheartofSummerlinmaster-planned Located com- Broke groundSummer2005. COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: Y General Contractor: Architect: Leasing Agent: Developer: T T ype: ype: ear Built: ear Built: 10 12 Office Office Completed Under Construction SH Architecture JMA Architecture Apr Nov-06 Christopher Commercial/DouglasCrook702-243-2800 Huffman Sarrett/702-341-8810 West Gould & Cody /Ryan -06 $190-$230 SFShell $2.30 NNN tu aaeetCmay h atrCmais IntelligentOffice TheSauterCompanies, Company, Stout Management Lee & FlynnorChuck /Dave Associates Witters SIOR/702-739-6222 Huffman Sarrett/702-341-8810 West Gould & Cody /Ryan Burke & Associates SIMAC Construction 2.0 2.74 30,000 52,600 10151 &10161Park RunDr. Huffman Park Run 9555 Hillwood Dr.9555 Hillwood P arkway Pointe
SOUTHWEST 3.1 percent. comparedtotheoverallindustrialmarket vacancy of rate cent, intheentire thelowest ter 2006wasonceagain Valley 2per- at theendof2ndquar- thevacancy at rate With allthisinmind, high as25percentmorethan theotherindustrialsubmarkets. andcommandingleasepremiumsas space intheentire Valley, accountingforabout42percentoftheindustrial dustrial space, Road andRainbow Avenue alongtheI-215freeway. uct (called The betweenBuffalo BusinessCenter)located Arroyo jumpedfurtherwestwithapocketofindustrial prod- past year, the Incontrast, SF) thanthetraditionalLas Vegas officeuser. largerusers(between10,000SFand25,000 area aresomewhat themajorityoftenantsmovingtothis Surprisingly, of 3percent. vacancy themostdemandwithanaverage rate generated have Projects withvisibilityandquickaccesstotheI-215Beltway construction inthe Valley occursintheSouthwestsubmarket. 18percentofthe Currently, of the Valley’s coresubmarkets. and Green Valley) theSouthwestSubmarketwillevolveintoone largest residentialmasterplansinSouthernNevada(Summerlin betweenthetwo Ideallylocated ment intheLas Vegas Valley. 2nd quarterof2006. The Southwest includes approximately 37.7 millionSFofin- The Southwestincludes approximately The SouthwestSubmarketcontinuestoleadofficedevelop- Spencer Pinter T aber Thill T T ot fBu imn od southof north ofBlueDiamondRoad, westofI-15, Generallylocated port. Strip andMcCarranInternational Air- V inthe dustrial spacecentrallylocated intheLas office inventory Vegas Valley, 11 percentshareofthecurrentexisting Containinganapproximate the west. south andtheSpringMountainrangeto linetothe the Californiastate east, olvr,ti rahs withinthe thisareahas, Boulevard, Sahara Avenue and eastofDecatur percent oftheofficeabsorptionin the Southwestaccountedforover77 alley withproximitytotheLas Vegas area forbusinessesrequiringin- ues tobeLas Vegas’ mostdesired he Southwestsubmarketcontin- I-15tothe go Roadtothenorth, passes theareabetweenFlamin- he SouthwestSubmarketencom- Southwest IndustrialSubmarketOverview Southwest OfficeSubmarketOverview ySecrPne,ColliersInternational by SpencerPinter, by Taber Thill, Colliers International Colliers by Taber Thill, on themarketfor morethan$8millionanacre. andsomeparcelsarecurrently industrial landintheSouthwest, been willingtopayinexcessof$3millionanacrefor ers have thesedevelop- forprimefreeway-frontingland, racious appetites Withtheirvo- and casinodeveloperssuchas Panorama Towers. along thewestsideofI-15freeway)bymixed-use (located submarket istherecentdemandforrezoneableindustrialland the ClarkCounty DepartmentoncloseAviation to400acreseach. joint-venture developmentarrangementswith negotiated have Both ofthesedevelopers theBeltwayBusinessCenter. Realty at EJM Developmentat The BusinessCenterandMajestic Arroyo be developedoverthenextfewyearswillmostlikelycomefrom thebulkoflargermulti-tenantprojectsto With thisinmind, rangingfrom$18to$25perSF. expensive, the Southwestisvery Theminimalsupplyofexistinglandin supply intheSouthwest. puttinganendtonew tent withinthenextthreetofiveyears, scarceandwillmostlikelybevirtuallynonexis- becoming very developablevacantindustriallandisnow However, construction. with almost2millionSFofindustrialproductcurrentlyunder generally outpacedotherindustrialareasintheLas Vegas Valley, economic advantages. and duetoitsexceptionallocation occupancy andmarketshare, a strong asrentsincreasetoanalltimehighandvacancy rates ue toadjustupwardoffsetspikesinlocalconstructioncosts. willcontin- Rates retailandresidential. velopments incorporating rise officebuildingswillbesmallercomponentsofmixed-usede- Themajorityoftheseplannedmid- Class A andBofficeproduct. mid-rise pushedfuturedevelopment toward tion costshave Southwest. toleasinginthe continuetobeapopularalternative shell,” costof$260/SF withanaverage “grey Owner/user buildings, andoccupytheiroffices. italized onuserslookingtoown cap- Developershave only benefactorofthishealthysubmarket. Officeleasinghasnotbeenthe withinthe ing andgrowing Valley. exist- majority ofofficedemandisfueledbycompaniesalready theoverwhelming Nevada expandingintotheLas Vegas market, the rangeof3,000SFto6,000SF. rest oftheLas Vegas officemarketseestypicaltenantsizesin poc eodlw.Theareaboastsconsiderableincreasesin pproach recordlows. Another factor greatly impactingtheSouthwestindustrial Another factorgreatly overthepastyearsinSouthwestsubmarkethas Growth nsmain theSouthwestSubmarketmarketremains In summation, Increasing landpricesintheSouthwestandrisingconstruc- Although therehasbeensomeactivityfromfirmsoutsideof SOUTHWEST The Gardens Plaza The Gardens wn Center Dr.wn Center & I-215 To S. Hualapai Rd.W. and Rd. Twain Huffman Hualapai Pavilion Commons Huffman Hualapai Pavilion 62,000 68,000 5.00 7.04 Oakview Construction SR Construction Dr. Andrew Bronstein MD, Orthopedic Surgery / MDW Manage- Huffman West / Ryan Gould & CodyWest Sarrett / 702-341-8810 Huffman Mark L.Associates / 702-733-5900 / Sara Lenn & Fine $2.00-3.00 NNN/ $235-$300 SF Shell $32-$45 SF (land) erkowitz & Ruth Architects erkowitz & Ruth Huffman West / Ryan Gould & CodyWest Sarrett / 702-341-8810 Huffman Mark L.Associates / Sara Lenn / 702-733-5901 & Fine 2006-2007 Sep-06 KKE / HFTA P Under Construction Under Construction Office Office 15 14 ear Built: ear Built: ype: ype: T T Developer: Leasing Agent: Architect: General Contractor: Y Status: Project Square Footage: Development Acreage: Asking Rates: Major Tenants: Vegas,ment / Retina Consultants of Las Ophthalmology / Dr.Adjovu MD, Seth Internal Medicine COMMENTS: 60,000 SF one- and two-story development, directly across from the new Nevada Can- cer Institute. Drive in Summmerlin,Towncenter Just off the I-215 freeway and mile 1/2 from the Flamingo Promenade: Albertsons, Sav-On, Starbucks, Lane Home Furnishings, Wings.Wild Buffalo 3/4 mile from the Grand Canyon Pavilion: Sears, Target, Mervyns. Developer: Leasing Agent: Architect: General Contractor: Y Status: Project Square Footage: Development Acreage: Asking Rates: Major Tenants: COMMENTS: The Gardens Plaza is ideally located at a prime intersection in Summerlin. This pro- from 4,200 SF up to 12,000 ject will consist of office pads for office buildings ranging Center Dr.SF.Town There will also be opportunites for lease located directly on This lushly landscaped offers its tenants a beautiful, project professional, high-image business environment. Sahara Ave. Way & Tenaya Stone CanyonStone Park Professional Thanks for 83,000 10.00 Investment Equity Builders Investment Equity Builders / Bob Hommel / 702-871-4545 Investment Equity Builders supporting NAIOP! $225-$325 SF Shell Investment Equity Development / DavidInvestment Equity Development Inman / 702-871-4545 SUBMARKET SPONSOR Sep-06 Indigo Architects Completed Office 13 est Sahara address and a 50-foot tall combination pylon sign/color reader board. This ear Built: ype: enaya, from the automotive dealerships of Mercedes-Benz, across Porsche, Jaguar and Aston Martin. General Contractor: Y Project Square Footage: Development Acreage: Asking Rates: Major Tenants: COMMENTS: This 83,000 SF high-image, mixed-use office/retail development features a prestigious W on the corner of Sahara & 15,000 SF of retail pad space for lease project includes T Status: Developer: Leasing Agent: Architect: T SOUTHWEST -1 eta,threenewhospitalsandamenities. I-215 Beltway, Excellentproximitytothe andlushlandscaping. monumentsignage exterior stone, with extensive free-standingbuildingsrangingfrom3,300SFto7,800SF, sional, highlyprofes- Featuring ninemodern, building. theirown wantingtoown ness owners tre isa40,000SFmaster-planned professionalparktailoredtomedicalandsmallbusi- SienaCen- acrossfromtheSienaGolfCoursecommunityinSummerlin, Ideally located COMMENTS: Major Tenants: T Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: ype: ear Built: 16 Office Planned RSJ Architecture n t.2007 2nd Qtr. Goff Properties/Bill702-253-7600 $260.00 /SFShell Anchor Development/BrooklynJulian702-253-7600 TBD 5.00 40,000 T ropicana Ave. & Hualapai WayHualapai & ropicana Ave. Siena OfficePark oe,Sas evn,Mcals ihmjrrti eeomn,alongwithplanned vicinityaswell intheimmediate mixed-use, withmajorretaildevelopment, Michael's, Mervins, Sears, Lowes, Target, HomeDepot, Wal-Mart, Businessesinthearea: hold incomeregioninLas Vegas. Highesthouse- RoseDominican. 2milestonewSt. 2.5milestonew Valley Hospital, tal, 1/2MiletonewSouthernHillsHospi- 1/4milewestof215, 120,000 SFdevelopment, COMMENTS: GeneralSurgery withHealthSouth/StuartHoffmanMD, Surgery Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: T ype: ear Built: 17 Office Under Construction JMA Architecture Jul-06 Huffman Sarrett/702-341-8810 West Gould&Cody /Ryan $2.00-3.00 NNN/$235-$300SFShell Huffman Sarrett/702-341-8810 West Gould&Cody /Ryan r i oa,Er oe hot/DulsSi D Orthopedic & /Douglas SeipMD, Throat Nose, Ear, Tim Tolan, Dr. 71tr 75S tAah d/99 45W RussellRd. Ft Rd./9495&9455 Apache W. 5731 thru5785S. SIMAC Construction 10.00 122,000 ufa rfsinlPaaa t Apache Huffman ProfessionalPlazaatFt. LaPour Corporate Center Desert Canyon Business Park 18 I-215 & Russell Rd. 19 9121 W. Russell Rd.
Type: Office Type: Office Developer: LaPour Partners / Lisa Chasteen / 702-222-3022 Developer: Nigro Development/ Todd & Mike Nigro/ 702-247-1920 Leasing Agent: LaPour Partners / Lisa Chasteen / 702-222-3022 Leasing Agent: Nigro / Randi Shanel / 702-247-1920 Architect: KKE / HFTA Architect: Keith Brown General Contractor: TBD Year Built: Jun-07 General Contractor: Nigro Construction Status: Under Construction Year Built: Jun-06 Project Square Footage: 69,000 Status: Completed Development Acreage: 4.00 Project Square Footage: 56,000 Asking Rates: TBD Development Acreage: 15.00 Major Tenants: LaPour Partners Headquarters Asking Rates: COMMENTS: Major Tenants: LaPour Corporate Center will be located at Russell Rd. and I-215, providing an excellent location for professional tenants desiring visibility, accessibility and convenience. De- signed with a contemporary architectural style, this prominent two-story design will in- COMMENTS: The eloquently designed two-story medical office building sits on a corporate concrete construction and glass for a unique class A office environment. Flex- prime location for freeway and signage visibility, conveniently adjacent to Southern ible divisibility, ample parking and extensive landscaping add to the idyllic atmosphere, Hills Hospital. The architectural structure is masterfully created with upscale features suitable for financial, legal, real estate and other professional tenants. and contemporary designs for an added sleek style and sophistication. SOUTHWEST is now available forsaleorlease. available is now Thefinal3buildingsinPhaseIareunderconstructionandII 81,980 SFbuilding. buildingsrangingfrom70,000-89,550SFandafour-story, 2three-story 59,700 SF, buildingsrangingfrom36,600- 4two-story buildings rangingfrom6,012-13,285SF, Thereare25single-story Class A officespaceina40-acremaster-planned officepark. COMMENTS: Frank Stile Dr. Haight Law, Attorneys at Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: T T COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: Architect: Leasing Agent: Developer: proximity toSummerlin andaccesstotheotherpartsofLas Vegas. theparkoffers justeastofI-215 Beltway, onRussell Rd. Located lease withanoptionto purchase. leaseor Flexibilityofownership: grounds. balconiessurroundedby beautifully landscaped private officeswithwarehousespacewillhave Theseprofessional2-story elegantlydesigned. ness suites, ype: ype: ear Built: ear Built: 22 20 Office /Industrial Office Under Construction Under Construction P Dec-06 2007 Dekker/Perich/Sabatini bo rtesDvlpet n./Jim Abbot /213-627-3338 Inc. Abbot BrothersDevelopment, ln Smith&GlenDevelopment/Kenneth702-212-9400 Glen, erkowitz &Ruth erkowitz Architects Discovery Gateway Park will be situated on 5.35 acres and will feature modernbusi- Park on 5.35acresandwillfeature Gateway willbe situated Discovery pncmlto,ThePark Spanish Ridgewilltotal620,000SFof at Upon completion, $1.95-$2.25 NNN TBD olesItrainl/SzteLGag,LizzStilley/702-735-5700 /SuzetteLaGrange, Colliers International calrKae ru detsn,Tn nutis Henness& Tang Industries, Schadler KramerGroup Advertising, CB RichardEllis/KarolinaJanik702-369-4800 SR Construction LM Construction 40.00 5.35 62,00 88,400 8906-8990 SpanishRidge Ave The Park atSpanishRidge Discovery GatewayPark Discovery I-215 &RussellRd. tions Casinoandseveral plannedmixed-usedevelopments. the proposed Sta- between Sunsetand Russellinclose proximity to3newhospitals, paralleltotheBeltway andissituated outstanding visibilitywithI-215Beltwaysignage Theprojectfeatures buildings withunitsforsalerangingfrom 2,500to37,000SF. COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: medicalandprofessional. suchasfinancial, multiple officeuses, Thedesignissuitabletoaccommodate sale ranginginsidefrom4,505SFto6,380SF. COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: 702-735-5700 Leasing Agent: Developer: Y General Contractor: Architect: Leasing Agent: Developer: T T ype: ype: ear Built: ear Built: 21 23 Office Office Under Construction Completed W Indigo Architects F 2005 LaPour Partners /JeffreyLaPour /702-222-3022 Investment Equity Development / David Inman/702-871-4545 Investment EquityDevelopment/David eb-07 estar Architectural Phase Iconsistsofeightfree-standingfee-simpleofficebuildingsfor This 74,000 SF high-image office park consists of 2 two-story office officeparkconsists of2two-story This 74,000SFhigh-image $285 SFShell $225.00 SFShell lblFos MetroSales Global Foods, olesItrainl/TmSily LizzStilleyor Taber / Colliers International Tom Thill / Stilley, Investment EquityDevelopment/BobHommel702-871-4545 TWC Construction Investment EquityBuilders 4.00 5.00 74,000 44,500 Copper Pointe BusinessPark P rmtrCne,PhaseI erimeter Center, SEC I-215&Patrick Lane 41S DurangoDr. 5451 S.
SOUTHWEST site café. c Features in- detail willsetnewstandardsforofficedesignintheSouthwestsubmarket. ThePlaza'sdistinctivedesignandarchitectural 80,000SFbuilding. prises one5story COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: T Architect: 702-735-5700 Leasing Agent: Developer: ueI25Blwyfotg,cs-fiin nrysses andretailspaceforanon- systems, cost-efficientenergy lude I-215Beltwayfrontage, ype: ear Built: 24 Office Under Construction P Apr Sansone Development/Roland/702-914-9500 erlman Architects oae nteI25crebtenRibwadSne,PhaseIcom- andSunset, betweenRainbow ontheI-215curve Located -07 $2.15 MG 1st National Bank 1st National Colliers International /RhondaPanciroColliers International &DeanKaufman/ Bentar 8.58 200,000 NEC I-215&SunsetRd. 1st NationalPlaza P Centra International Airport andanequaldistancebetweenGreen Valley andSummerlin, minutesfromMcCarran Located officebuildingsaswellretailamenities. three-story two-and professionalofficeprojectfeaturing master-planned, Centra Point isa30-acre, COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: 702-735-5700 Leasing Agent: Developer: T ype: ear Built: oint is strategically positioned in the fast-growing corridorofthecentralsouthwest. positionedinthefast-growing oint isstrategically 25 Office Completed KKE /HFTA Jun-06 Centra /JimStuart&KennethSullivan702-851-9400 $2.50 MG ut-e eb twr il,Pueta mrcn,GCWallace PrudentialAmericana, StewartTitle, Pulte-Del Webb, olesItrainl/TmSily LizzStilleyor Taber / Colliers International Tom Thill / Stilley, Centra Construction 30,000 415,000 8363 W SunsetRd. Centra Point
SOUTHWEST rme ealcne.510 akn ai,cvrdptoaalbe flexiblefloorplans. available, coveredpatio 5:1000parkingratio, a premierretailcenter. Directaccessto RoseDominicanHospital-SanMartinCampus. acrossfromSt. Located COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: T Y General Contractor: Architect: Leasing Agent: Developer: ype: ear Built: 26 Office Planned TBD TBD The Walters Group The Walters $2.25-$3.32 NNN NAI Horizon/RonMcMenemy702-938-6565 TBD 36.34 185,000 Cimarron & Warm SpringsRd. Desert ProfessionalCenter Hospital campus. RoseSanMartin medicalofficecomplexdirectlyacrossfromthenewSt. Three-story COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: T ype: ear Built: 27 Office/ Medical Under Construction KKE /HFTA F JAMD Inc. / Danny /Danny Tarkanian /702-870-2700 JAMD Inc. eb-07 $1.85 NNN CBRE /JanHobackBruceFollmer /BradPeterson /702-369-4800 Bentar 148,000 W T r pig d /CimarronRd. arm SpringsRd. arkanian ProfessionalCenter
SOUTHWEST T parking. Buildings range from 6,000 SF to 60,840 SF and are available forsaleorlease. Buildingsrangefrom6,000SFto60,840andareavailable parking. and6:1000 andcommonareas, courtyards lushlandscaped stone buildingaccents, buildingswithexteriorcultured 13LEEDCDS-Certifiedenergy-efficient will feature Thepark RoseSanMartinHospital. master-planned justeastofSt. officeparklocated COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: ype: ear Built: 28 Office Planned Dekker/Perich/Sabatini Jul-07 ln Smith&GlenDevelopment/RonPiasecki702-212-9400 Glen, h aka a atnb ln Smith&GlenDevelopmentisan18-acre The Park SanMartinbyGlen, at TBD olesItrainl/SzteLGag,LizzStilley/702-735-5700 /SuzetteLaGrange, Colliers International SR Construction 18.00 243,000 W The Park atSanMartin r pig d & Arby arm SpringsRd. state-of-the-art corporate environment. corporate state-of-the-art ina 450-acreprojectwillprovideunsurpassedtenantsatisfaction dustrial buildings. officeandin- andsingle-story ing Class A officebuildingsrangingfrom2to6stories, The optionsinclud- Centeroffersafullspectrumofbusinesslocation Corporate Arroyo COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: T ype: ear Built: 29 Office Under Construction JMA Architecture Sep-07 EJM Development / Kirk Boylston /702-597-1852 EJM Development/KirkBoylston $2.25 MG CBRE / Randy Broadhead/702-369-4800 CBRE /Randy Martin-Harris Construction 125,000 450.00 The ArroyoCorporateCenter I-215 &BuffaloDr. Arroyo North - Phase II Park West 30 Bldg. 4: 6625 Arroyo Springs Rd. 31 Sunset Rd. & Montessouri St.
Type: Industrial Type: Industrial Developer: EJM Development / Kirk Boylston & Susan Wincn / 702- 597-1852 Developer: Panattoni Development Company, LLC / Jason Kuckler / 702-269-1360 Leasing Agent: Colliers International / Spencer Pinter / 702-735-5700 Leasing Agent: Colliers International / Dan Doherty / 702-735-5700 Architect: RGA Architects Architect: KKE / HFTA General Contractor: LM Construction General Contractor: Panattoni Construction Co. Year Built: 2nd Qtr. 2007 Status: Under Construction Year Built: Jun-07 Project Square Footage: 309,000 Status: Under Construction Development Acreage: 22.27 Project Square Footage: 207,969
Asking Rates: TBD Development Acreage: 23.00 SOUTHWEST Major Tenants: Asking Rates: TBD COMMENTS: Arroyo North Phase II comprises three buildings totaling 309,060 SF. Major Tenants: Bldg. 4 includes exposure to I-215, divisibility to 21,400 SF, equipped with ESFR sup- pression system, 30’ clear height, 60’ deep concrete truck aprons, offices built-to-suit, COMMENTS: dock- and grade-level loading. Buildings 5 and 6 include spaces divisible to 5,800 and This project will consist of 3 warehousing buildings with demised space starting at 8,500 SF, 60’ deep concrete truck aprons, fire sprinklers, 22’-24’ clear heights, dock- 20,000 SF. The fourth and final building is a 72,000 SF distribution center with and grade-level loading, and offices built-to-suit. spaces ranging from 20,000 to 72,000 SF.
Rainbow Sunset Pavilion Rainbow Corporate Center 32 6325 S. Rainbow Blvd. 33 6252 S. Rainbow Blvd.
Type: Office Type: Office Developer: Plise Companies / Jon Field / 702-871-4065 Developer: Investment Equity Builders / Dave Inman / 702-871-4545 Leasing Agent: Colliers International / Rhonda Panciro or Dean Kaufman / Leasing Agent: Investment Equity Builders / Bob Hommel / 702-871-4545 702-735-5700 Architect: Indigo Architects Architect: Vedelago Petsch Architects General Contractor: Investment Equity Builders General Contractor: Plise Development & Construction Year Built: Apr-07 Year Built: Jun-06 Status: Under Construction Status: Completed Project Square Footage: 107,231 Project Square Footage: 65,000 Development Acreage: 25.00 Development Acreage: 7.5 Asking Rates: $2.85 FSG Asking Rates: $225-$285 Shell Major Tenants: Boyd Gaming Major Tenants: COMMENTS: Located in the heart of the Southwest, Rainbow Sunset Pavilion offers unprecedented amenities. Proximity to the I-215 Beltway allows access east to Hender- COMMENTS: son, the Strip, I-15 and McCarran Airport and west to Summerlin. Amenities include This 65,000 SF office development was developed in two phases with units for sale Starbucks, Japanese, Chinese, Italian and breakfast restaurants, banking and a day from 2,500 to 15,000 SF. These attractive buildings feature 5:1000 parking and an spa. Plise Companies' in-house design, construction and management ensure a first- outstanding location in close proximity to the I-215 Beltway, three new hospitals and class environment for Class A Tenants in the southwest. several new large office/retail developments. SOUTHWEST 1 millioncarspermonth. andoffersalltenantscolorreader-board visibletoover signage mark ExecutiveSuites, state-of-the-art Water- Thisfor-lease projectisanchoredbya22,000SF, stone pavers. amongwalkwaysmadeof highlightedbycoppersculpturessituated courtyard scaped alushlyland- this44,000SFofficedevelopmentfeatures Completed inspringof2005, COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: T Y General Contractor: Architect: Leasing Agent: Developer: ype: ear Built: 34 Office Completed Indigo Architects F Investment Equity Builders / Dale Dowers /702-871-4545 Investment EquityBuilders/DaleDowers eb-06 $2.10 NNN Wa Investment EquityBuilders/BobHommel702-871-4545 terMark ExecutiveSuites Investment EquityBuilders 2.5 44,000 South RainbowBusinessPark 5920-5940 S. Rainbow Blvd. Rainbow 5920-5940 S. cest h otwsenvle,including 3newhospitals andtheI-215Beltway. access tothesouthwesternvalley, easy andfeature both officeunitsrangefrom2,050-10,000SF, Tropicana andRainbow.The andanofficecampusof11buildingsforsalewithcolorreader-board on signage Rainbow, This 76,000SFmixed-usedevelopmentconsistsof10,000retailforleasefronting COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: T ype: ear Built: 35 Office Under Construction Indigo Architects Nov-06 Investment Equity Development / David Inman/702-871-4545 Investment EquityDevelopment/David $225-$275 SFShell Investment EquityDevelopment/BobHommel702-871-4545 Investment EquityBuilders 7.5 76,400 E ano ld & Tropicana Ave. Blvd. SEC Rainbow Spanish Trail BusinessPark
Beltway Business Center - Buildings 4 & 5 Beltway Business Park 36 Lindell Rd. & Badura Ave. 37 5795 & 5725 Badura Ave.
Type: Industrial Type: Office/Flex Developer: Majestic Realty Company & Thomas & Mack Development Group / Developer: Thomas & Mack Development Group / Nicola Fryatt / 702- 260-1009 Rod Martin / 702-896-5564 Leasing Agent: Thomas & Mack Development Group / Nicola Fryatt / 702- 260-1008 Leasing Agent: Majestic Realty Company & Valley Realty / Rod Martin / 702-896-5564 Architect: KKE / HFTA Architect: Commerce Construction General Contractor: Summit Builders General Contractor: Commerce Construction Year Built: Oct-06 Year Built: Aug-06 Status: Planned Status: Under Construction Project Square Footage: 37,575 / 36,575 Project Square Footage: 252,000 / 288,000 Development Acreage: 6.34 Development Acreage: 30.00 Asking Rates: $0.50 - $0.55 NNN Asking Rates: $1.55 NNN Major Tenants: Brady Industries, Inc. Major Tenants: American Family Insurance, KB Home, InfoGenesis, CSI Las Vegas
COMMENTS: This project is the second phase of industrial buildings at Beltway Busi- COMMENTS: Beltway Business Park is a 400-acre master-planned business park lo- ness Park, a 400+ acre master-planned business park in the Southwest submarket. It cated on the southern side of the I-215 Beltway between Jones and Decatur. At build- follows the very successful first phase, which boasts GES as a tenant in an 860,000 out, the park will include 5 million SF of office, distribution and retail facilities. 5795 SF BTS warehouse. Building #4 at 252,000 SF is pre-leased to Brady Industries. The and 5725 Badura Avenue are single-story flex buildings totaling 74,000 SF. 288,000 SF building #5 is divisible to 14,000 SF and includes generous truck courts, ESFR sprinkler systems, 50 x 50 bay spacing and 28' minimum clear heights. Beltway Business Center - Buildings 6, 7 & 8 Corporate Gateway II at Beltway Business Park 38 Badura Ave. & Decatur Blvd. 39 6795 Edmond St.
Type: Industrial Type: Office Developer: Majestic Realty Company & Thomas & Mack Development Group / Developer: Thomas & Mack Development Group / Nicola Fryatt / 702- 260-1009 Rod Martin / 702-896-5564 Leasing Agent: Thomas & Mack Development Group / Nicola Fryatt / 702-260-1008 Leasing Agent: Majestic Realty Company & Valley Realty / Rod Martin / Architect: KKE / HFTA 702-896-5564 Architect: Commerce Construction General Contractor: Martin-Harris Construction General Contractor: Commerce Construction Year Built: Fall 06 Year Built: 2nd Qtr. 2007 Status: Under Construction Status: Planned Project Square Footage: 72,320 Project Square Footage: 212,500 / 315,000 / 328,250 Development Acreage: 4.23 Development Acreage: 47.00 Asking Rates: $2.25 MG Asking Rates: TBD Major Tenants: American Family Insurance, KB Home, InfoGenesis, CSI Las Vegas Major Tenants: COMMENTS: COMMENTS: This project is the third phase of industrial buildings at Beltway Business Beltway Business Park is a 400-acre master planned business park located on the south- Park, a 400+ acre master-planned business park in the Southwest submarket. In ad- ern side of the I-215 Beltway between Jones and Decatur.At build-out, the park will include dition to two Big Box Industrial buildings, this phase will also feature a buildng fronting 5 million SF of office, distribution and retail facilities. Corporate Gateway II is a Suburban on Badura Ave. that is divisible to 15,000 sq. ft., allowing a unique, quasi-retail/show- Class A office building that features dramatic architecture, efficient floor plans and sophis- room environment. All buildings include generous truck courts, ESFR sprinkler sys- ticated interior finishes. tems, 50 x 50 bay spacing and 28' minimum clear heights.
Decatur Crossing - Phase II Decatur Crossing - Phase III 40 6420-6480 W. Cameron St. 41 6420-6480 W. Cameron St.
Type: Office / Industrial Type: Office / Industrial Developer: LaPour Partners / Lisa Chasteen / 702-222-3022 Developer: LaPour Partners / Lisa Chasteen / 702-222-3022 Leasing Agent: Colliers International / Mike DeLew & Greg Pancirov / 702-735-5700 Leasing Agent: Colliers International / Mike DeLew & Greg Pancirov / 702-735-5700 Architect: KKE / HFTA Architect: KKE / HFTA General Contractor: TWC Construction General Contractor: TWC Construction Year Built: Feb-06 Year Built: Feb-07 Status: Completed Status: Under Construction Project Square Footage: 140,594 Project Square Footage: 113,897 Development Acreage: 9.04 Development Acreage: 6.45 Asking Rates: Office - $1.35 NNN / Warehouse - $0.75 NNN Asking Rates: TBD Major Tenants: CTI (subsidiary of Home Depot), Sprint, Ingram Micro, Inc., Home Major Tenants: Team (subsidiary of Centex) COMMENTS: Phase III is located at the confluence of S. Decatur Blvd. and I-215 with- COMMENTS: Located just off the I-215 at Decatur Blvd., Phase II of the 40-acre mixed-use in the master-planned business environment, Decatur Crossing. This phase of the pro- business park, Decatur Crossing, consists of three multi-tenant buildings for lease. Flex space and mid-bay distribution are offered, with flex space divisible from approximately 2,100 SF and ject is a hybrid product featuring two stories. The 1st floor offers office/flex space with mid-bay distribution divisible from approximately 4,400 SF. The three buildings are constructed grade-level loading, warehouse clear heights from 13' -15' and suites divisible to of concrete tilt-up panels with brick pattern reveals to complement Phase I of the project. Clear 2,000 SF. The 2nd floor provides 100% office space dvisible to 1,000 SF with common heights vary from 18' - 24'. area restrooms and individual exterior accessibility.
SOUTHWEST vention facilities. This business park also has I-15 access at RussellRoad. ThisbusinessparkalsohasI-15accessat vention facilities. aswellcon- International near Airport andconvenientlysituated The Strip, at Sunset Parkway ispartofan80-acremaster-planned businessparklocated COMMENTS: Major Tenants: T Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: ype: ear Built:
42 h ofuneo h -5adI25fewy.ItisadjacenttoMcCarran the confluenceofI-15andI-215freeways. Industrial Completed Commerce Construction Jun-06 Majestic Realty Company /RodMartin702-896-5564 Majestic RealtyCompany $0.54 -$0.62NNN Majestic Realty Company /RodMartin&BillHayden702-896-5564 Majestic RealtyCompany Commerce Construction 22.00 363,000 Sunset Parkway BusinessCenter ustR.& Valley View Blvd. Sunset Rd. by Target &Kohl stores. centerconsistingof650,000SFandanchored aretailpower by BlueDiamondCrossing, thecenterwillbeneighbored Inaddition, ter-planned industrialoffice/warehousespace. theBlueDiamondBusinessCenterwillconsistof1.5millionSFmas- When completed, COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: T ype: ear Built: 44 Industrial Completed eadGrpc,AA LLC AIA, Gerald Garapich, Dec-05 Juliet Land Company /JohnStewart702-368-5800 Juliet LandCompany leDaodBsns etr-Bidns3 4&6 Blue DiamondBusinessCenter-Buildings3, $0.65-$1.10 NNN CB RichardEllis/KarolinaJanik702-369-4800 Juliet PropertyCompany 110.00 1,500,000 leDaodR.&IndustrialRd. Blue DiamondRd.
AIRPORT sites enables operators tofreeupvaluablespaceforhigher and sites enablesoperators back-office departmentsofthe gamingcompaniestooff-Strip the relocating that andtherealization on dous growth “The Strip” continue toseeaninfluxofgaming companiesduetothetremen- Itwill companies duetoitsproximity resort-related “The Strip.” slightlyfromoneyearago. down V makingitthethird-largestsubmarketin total inventory, port submarketaccountsforroughly15percentofLas Vegas’ the Air- 13millionSF, ofapproximately With atotalinventory 736,000 SFofofficespace. nearly planned officecampuswillsiton37acresandfeature themaster- Atbuild-out, SF withafive-levelparkingstructure. willencompassanadditional111,500 rently underconstruction, cur- Theninthbuilding, A officeandamenitiesineightbuildings. 350,000SFofClass Itcurrentlyhasapproximately Sunset Road. at Center,development intheairportsubmarket–MarnellCorporate withhigherparkingratios. competitive leaserates The Airport submarketalsooffersavarietyofofficeproductat theI-215Beltwayandairporttunnel. theI-15freeway, Airport, le.A f2dQatr20,thevacancy is5percent, rate Asof2ndQuarter2006, alley.
the intersectionofI-15andI-215adjacenttoairportoff The hometoahost ofgamingand Airport market is already Marnell Propertiesisbuildingthenewestandlargestmajor Chuck Witters Garrett Toft T A of McCarran Airport andnorthof east Theotherareaislocated west. tothe southandI-15tothe Rd. Warm Springs totheeast, ern Ave. East- McCarran Airport tothenorth, dueprimarilyto the Airport submarket, thedemandforofficespacein create rate localfirms America andgrowing a withavacancy factorof fice buildings, proach flight pattern fortheairport. proach flightpattern directlyundertheap- Sunset Rd., accessibility toMcCarranInternational inthe its centrallocation Valley andits poiaey92pret BothCorpo- 9.2percent. pproximately ra.Oneareaisboundedby areas. intotwo can beseparated he Airport industrialsubmarket mately 2.989millionSFin105of- mately fice Marketconsistedofapproxi- i-er20,the Airport Of- t mid-year2006, Airport IndustrialSubmarketOverview Airport OfficeSubmarketOverview y hc itr,SO,Le&Ascae,Las Vegas Lee& Associates, SIOR, by Chuck Witters, y art ot Voit CommercialBrokerage by Garrett Toft, strong and should remain strong into the immediate future. strong andshouldremainintotheimmediate further eastorwestontheI-215Beltway. forcingtenantstolook ceeding supplyinthe Airport submarket, tenant comingout-of-pocketformajorinvestmentsintheirown TI’s. coming amajorchallengeinmakingdealforshellspacewithoutthe Tenant Improvementscostsarebe- ants withcompetitiveleaserates. andtoprovideten- ject withtheincreasedconstructionandlaborcosts, forapro- pricesthat challenge willcontinuetobefindlandat “pencil” The son andtheSummerlinareaaswellStripDowntown. Hender- provideseasyaccesstothe Itscentrallocation Airport, market. ter andLongfordPlaza. P Pama LaneOffice Tuscano ProfessionalParc, Plaza, Corporate 253,000SF. totalingapproximately building, one-story and one, officebuildings three-story Marnell Airport Centerwillconsistofthree, 90,000SF. ClassBofficebuildingstotalingapproximately two-story MarnellPropertieswillbeginconstructionin2007ontwo, sell Road, at whichhasland-bankedthefewremainingparcels ception ofEJM, Withtheex- er andbetterusesthantraditionalindustrialproduct. forced newdevelopmentinthisland-constrainedmarkettohigh- freeway systemandtothemainpostoffice. inthe are located Airport submarketduetoitsproximitythe Anumberofdistributionandmidbay industrialusers better uses. oain especiallysincethereislittlelandtopurchase. location, they arewillingtopayasubstantialpremiumfor provedthat have tenants andusers Developers, continue toriseinthissubmarket. andsalespriceswill rentalrates landprices, strong predictionthat are notbuildingthetypicalindustrialproduct. buteventhesedevelopers land priortothecurrentpricinglevels, enoughtopurchasetheir cently completedwhowerefortunate projectsunderconstructionorre- Severaldevelopershave dos. isClass A officeorcon- beginsto product typethat “pencil” future landleasesaside)inthissubmarket. midbayordistributiondevelopment(potential more speculative r,Se tSaocet carnCne,Hughes Airport Cen- McCarranCenter, Shadowcrest, Sheaat ark,
h roha omreCne,therewillnolonger be any the CommerceCenter, Arrowhead nsmain The Airport Office Submarketiscurrently In summation, I seedemandforlargercontiguousspacemeetingorex- ofstrongdemandforthe I seeacontinuation Airport Officesub- McCarran Other officeprojectsinthissubmarketinclude: Eastern At itsMcCarranMarketplaceprojectat Avenue andRus- The last few years of rapidly escalating landpriceshave escalating The lastfewyearsofrapidly swt h a ea nutilmre ngnrl itismy As withtheLas Vegas industrialmarket ingeneral, theonly morethan$1milliondollarsperacre, With pricingat AIRPORT 730 Pilot Rd. WMS Gaming 6650 Via Austi 6650 Via Austi Parkway Marnell Corporate Center Center Corporate Marnell 260,000 122,472 37.00 8.20 Marnell Corraro Assoc. Marnell Corraro Martin-Harris Construction Marnell Properties / Raedene Counts / 702-739-2000 Marnell Properties / Raedene Stoltz Management / Kirt Klaholz / 702-361-8301 Nevada Development Authority,West,Nevada Development Turnberry The Smith Center WMS Gaming $2.85-$3.00 FSG BTS -06 The Marnell Corporate Center was designed as a Class A office park to The Marnell Corporate was designed as a Class Center Marnell Properties / Brad Schnepf / 702-739-2000 Marnell Properties / Brad Schnepf Stoltz Management / Kirt Klaholz / 702-361-8301 Oct-05 Apr Marnell Architecture JMA Architecture Studios Under Construction Completed Office Industrial 46 45 ear Built: ear Built: ype: ype: T Developer: Leasing Agent: Architect: General Contractor: Y T Status: Project Square Footage: Development Acreage: Asking Rates: Major Tenants: Arts, for Performing NAI Horizon COMMENTS: create a campus environment, providing tenants with highly innovative and flexible floor plates, state-of-the-art facilities, on-site management services, high-speed data infrastructure, covered parking, distinctive public area finishes, interior elements with substantial character and quality, breathtaking and views. Marnell Corporate Center is the location positioned for growth of choice for companies in the new century. Developer: Leasing Agent: Architect: General Contractor: Y Status: Project Square Footage: Development Acreage: Asking Rates: Major Tenants: COMMENTS: 122,472 SF build-to-suit corporate headquarters building with 42,322 SF of upgraded office and 80,150 SF of upgraded manufacturing and distribution space. own Square own T 6601 South Las Vegas Blvd. Vegas Las 6601 South Thanks for 425,000 114.00 Marnell Corraro Assoc. Marnell Corraro Colliers International / Tom Stilley,Thill / Tom Colliers International / Taber Lizz Stilley or wn Square will cover more than 2 million square feet of Las Vegas Las wn Square will cover more than 2 million square feet of supporting NAIOP! $2.25 NNN To urnberry & Associates Drew Barrett & Jim Stuart / & Centra / urnberry & T SUBMARKET SPONSOR Nov-06 Development & Design Group Under Construction Office 43 ear Built: ype: Developer: T 305-937-6200 & 702-851-9400 Leasing Agent: 702-735-5700 Architect: General Contractor: Y Project Square Footage: Development Acreage: Asking Rates: Major Tenants: COMMENTS: real estate, featuring retail shops, restaurants and entertainment venues, a including movie theatre, a large children's play area, and amusement attractions. Square Town will also contain modern loft offices. This is a destination for shopping, dining, net- working and playing. Status: AIRPORT c officesthefrontportionofbuildinganda21' two-story The otherdesignfeatures including carpetandrestrooms. all-officebuildingswithcompletedfinishes, two-story areone-and ThepropertiesalongEastern Ave. twodesigns. Business propertieshave buildings. ranginginsizefrom1,183to3,600SF4separate business properties, V COMMENTS: Major Tenants: T Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Steve Paravia /702-734-4500 Leasing Agent: Developer: lear flexareaintherear. ype: ear Built: enture Commerce Center is a unique development consisting of 38 privately owned enture CommerceCenterisauniquedevelopmentconsistingof38privately 81 Office /Industrial Under Construction W t t.2006 4th Qtr. V are Malcomb enture Corporation /StuScheinholtz415-381-1600 enture Corporation $339,000 -$939,000 V i omrilBoeae/KvnHgis Garrett Toft & /KevinHiggins, oit CommercialBrokerage Lusardi ConstructionCompany 5.21 79,094 75-68 .Eastern Ave. 6725 -6785S. V enture CommerceCenter Rose SienaCampus. nearSt. AdjacenttoHealthSouth, Germicidalsanitizedairsystem. ment allowance. generoustenantimprove- Extensive useofItaliantileinbuildingcommonareas, P COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: 702-739-6222 Leasing Agent: Developer: T ype: ear Built: r-iegons ucn eierna rhtcue four23,680SFbuildings. Tuscany Mediterraneanarchitecture, ark-like grounds, 82 Office Under Construction Lee &Sakahara Architects Dec-06 elEtt ru eaa LLC/LeePhelps702-367-3000 GroupNevada, Real Estate $1.90 NNN/$230SFShell Lee & Associates / Chuck Witters, SIOR & David Flynn/ SIOR&David Lee & /Chuck Associates Witters, Mission CompletedContactors 43,568 P alm Lane&Eastern Ave. P ama LaneOfficePark
AIRPORT Fe 113,858SFoffice/warehouseprojecton5.04acresinthe Airport submarket. building, COMMENTS: Major Tenants: T est -1,I-15and The Strip. cess toI-215, 100% airconditioned;fiber;24'clear height;undergroundparking;andexcellentac- Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: ype: ear Built: a 83 tures include: build-to-suit office; abundant 3-Phase power; ESFRfiresprinklers; build-to-suitoffice;abundant3-Phasepower; tures include: Industrial Completed John Vivier Sep-06 M ioA Longo / VitoA. EMT h qimn aaeetTcnlg etri ihiae 4- The EquipmentManagement Technology Centerisahigh-image, $0.90 -IndustrialNNN$1.60$1.65Office Equipment Management Equipment Management Technology Grubb & Ellis / Xavier Grubb &Ellis/Xavier Wasiak /702-733-7500 Matt Construction Matt Equipment ManagementTechnology Center 5.04 113,858 1545 Pama Ln. ustfotg tl vial,zonedC-2. stillavailable, Sunset frontage Industrialiscompletelysoldout. 5,200 SFandfourindustrialbuildingsof14,000SF. officebuildingsrangingfrom5,000SFtoover This projectcontains12single-story COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: T ype: ear Built: 84 Office/ Industrial Under Construction DFD Cornoyer Hedrick DFD Cornoyer Sep-06 Shea Commercial/LucindaStanley702-363-7600 $215-$240 SFShell Shea Commercial/StevenSantanaorDarleneSandri702-363-7600 Caviness ConstructionCompany Caviness 9.00 118,000 6235 .SunsetRd. 3602-3656 E. Shea atSunset
Arrowhead Commerce Center - Buildings 16 & 17 Tuscano Professional Parc 85 Patrick Ln. & Sandhill Rd. 86 5715-5795 Sandhill Rd.
Type: Industrial Type: Office Developer: EJM Development / Kirk Boylston & Susan Wincn / 702-597-1852 Developer: Steelhead Development, Inc. / Argo Corporation Leasing Agent: Colliers International / Spencer Pinter / 702-735-5700 Leasing Agent: Lee & Associates/ Chuck Witters, SIOR & David Flynn / 702-739-6222 Architect: RGA Architects Architect: JMA Architecture Studios General Contractor: LM Construction General Contractor: Steelhead Development Year Built: 2006 Year Built: Dec-06 Status: Under Construction Status: Under Construction Project Square Footage: 121,716 Project Square Footage: 49,850 Development Acreage: 110.00 Development Acreage: 4.00 Asking Rates: Office: $1.00 -$1.05 NNN / Warehouse: $0.54 - $0.58 NNN Major Tenants: Asking Rates: $1.84 MG Major Tenants: Rapport Leadership, Secor International, Exit Realty COMMENTS: Arrowhead Commerce Center Buildings 16 & 17 are part of a 110-acre master-planned COMMENTS: industrial office park. The buildings offer a +/-20' ceiling clear height in the warehouse Park-like grounds, Tuscany Mediterranean architecture, five single-story buildings from area and are fully equipped with an ESFR fire-suppression system, evaporative cooling, 7,750 SF to 12,000 SF. Extensive use of Italian tile in building common areas, generous 200 amps of 277/480 volt, 3-phase power and 9x10 dock doors & 12x14 ramp doors. tenant improvement allowance.
McLeod Business Centre 87 6290 McLeod Dr. AIRPORT
Type: Office Developer: Investment Equity Builders / Dave Inman / 702-871-4545 Leasing Agent: Investment Equity Builders / Bob Hommel / 702-871-4545 Architect: Indigo Architects General Contractor: Investment Equity Builders Year Built: Mar-06 Status: Completed Project Square Footage: 84,000 Development Acreage: 7.50 Asking Rates: Major Tenants: COMMENTS: This 84,000 SF office and office/warehouse project includes eight 5,000 SF office build- ings and eight office/warehouse buildings from 4,500-9,000 SF for sale. The project's central Airport area location offers occupants immediate access to the airport, the Strip, Green Valley/Henderson, as well as I-15 and the I-215 Beltway.
NORTH Las thelocalmarket. Vegas to service toNorth expandedorrelocated and commercial developmentshave toresidential supplyconstructionmaterials companies that many overthepastyear, However, tire westorsouthwestUnitedStates. theen- service major distributionormanufacturing companiesthat V than 42percentofallnetabsorptionoccurringintheNorth Las V NorthLas absorbed throughthefirsttwoquartersofyear. morethan1.36millionSFhasbeen giventhefactthat of space, Thisisanominalamount Justunder1millionSFisvacant. 2006. theendof2ndquarter in 2ndquarter2005to3.9percentat not liveintheNorthLas Vegas notyetrealizedthe areaandhave do presentbusinessowners Many position forfutureabsorption. thisputsNorthLas Vegas inagreat city’s redevelopmentplans, ofaffordablehousingandthe bined withthecurrentattraction Com- Olympia Group’s recentlyacquired2,675acresinthenorth. suchasthemaster-planned communityof Aliante and ments, small-officeuserswillcomefromfuturehousingdevelop- many that Developersareanticipating other 230,000SFisplanned. andan- 278,000SFisunderconstruction, space remainsvacant, to thesouthandNellis Air Force Basetotheeast. Cheyenne Avenue defined astheareabetweenUS95towest, egas area. withmore egas isthemostactivesubmarketinSouthernNevada, Industrial spaceinNorthLas Vegas is typicallyoccupiedby about17percentofthe With almost367,000SFexisting, Suzette LaGrange Chris Jensvold H T percent ofallindustrialspaceinSouth- whichrepresentsmorethan28 space, nearly 25.4millionSFofindustrial itconsistsof of the2ndquarter2006, As yond theI-215Beltwaytonorth. totheeastandextendsbe- Nellis Blvd. quickly developinganofficemarket is cityinthecountry fastest growing thesecond- from just12monthsago) construction (10timestheamount 278,000SFcurrentlyunder mately Las Vegas decreasedfrom6.3percent Thevacancy inNorth rate ern Nevada. needed forfuturegrowth. The NorthLas Vegas submarketis ot,DctrBv.tothewest, Blvd. Decatur south, tothe bordered byLakeMeadBlvd. he NorthLas Vegas submarketis North Las Vegas IndustrialSubmarketOverview existent. However, with approxi- with However, existent. fice markethasbeenalmostnon- theNorthLas Vegas of- istorically, North Las Vegas OfficeSubmarketOverview ySzteL rne ColliersInternational By SuzetteLaGrange, yCrsJnvl,ColliersInternational By ChrisJensvold, will have towaitfornewproduct tobeconstructed. will have they with2.2percent vacancy indistributionspace, rates today, For in NorthLas alternatives Vegas overthe next12months. tenantswillfinda nice selectionof million squarefeetplanned, Withmorethan1.2millionSFunderconstructionand 2.2 scarce. is andnewinventory where spaceislimitedandhigher priced, pent-up demandfromtheSouthwest and Airport submarkets thereby givingthemacompetitiveadvantage. costbasis, alower significantlandholdingsat velopers have arehesitanttoenterasubmarketwhereothermajorde- many Additionally, given therisinglandvaluesandconstructioncosts. industrialwarehouse buildings, are findingithardto “pencil” developers Many locations. over$10.00perSFinmany to now Las from$6.00-$8.00perSFinearly2005 Vegas escalated have askingpricesforlandinNorth overthelast12months, However, landcosts. mainlyduetothelower the Southwestsubmarket, V intheNorthLas Theleaserates bator-type industrialspace. netforflexandincu- and$0.70-$0.85/SF/Mo, dock-high space, formid-bay $0.55-$0.65/SF/Mo. $0.48 perSFmonthnet, $0.39to fordistributionspaceat withrates the last12months, and Washburn Rd. and Washburn Camino It isscheduledtobreakgroundinNovemberat Al Norte totaling53,700SFforsale. Camino Al NorteProfessionalCenter, and totaling 87,528SFforleasenearI-215and Aliante Parkway, athree-buildingproject noteworthy are Center, Aliante Corporate Also 100,000SF. and uponcompletionwilltotalapproximately Thefirstphaseisunderconstruction and Alexander Rd. Craig Rd.. between buildings forsaleorleaseonMartinLutherKingBlvd. offeringfreestandingoffice Smith&GlenDevelopment, Glen, previous year. Thisisupabout6percentfromthe gross. full-service per SF, of$2.49 anaverage areat Rentalrates $185 and$230perSF. prices forofficebuildingsinthenortharecurrentlybetween Sales toofficebuilders. stillremainattractive are pricesthat these from 5to20acressellingbetween$10and$16perSF, Withrecentlandsalesofparcels market’s lessexpensiveland. ofthesub- developersarestillabletotakeadvantage many andlandvalues, interestrates creases inconstructioncosts, the area. in population growing therapidly existstoservice opportunity that egas area are typically 20 to 30 percent less than the rates in egas areaaretypically20to30percentlessthantherates North Las Vegas of iswellpositionedtotakeadvantage of15percentover increasedanaverage have Lease rates One notableprojectintheareais The Park Northpointeby at significantin- shown Although thepastcoupleyearshave
NORTH and lower life-cycleand lower costs. networkandbroadbandfacilitiesofferingcost-effective wirelessdata opment features Devel- withretailparcelsandstripbuildingfrontingCheyenne. buildings inback, Projectconsistsof20office andI-215Beltway. I-15, AccessibletoUS95, COMM. COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: 702-363-7600 Developer: T ype: ear Built: 48 Office Under Construction eadGrpc,AA LLC AIA, Gerald Garapich, F SUBMARKET SPONSOR L rtQr 2007 irst Qtr. yle BrennanInvestment&SheaCommercial/LucindaStanley Located withintheCheyenne Located Technology corridoradjacentto Qual- $235-$240 SFShell supporting NAIOP! Shea Commercial/MiriamRootSalinaRamirez702-363-7600 TBD 24.00 95,298 Thanks for hyneVle aea,PhaseII Cheyenne Valley Gateway, 4310-4370 Cheyenne Ave. Y General Contractor: Architect: Leasing Agent: Developer: T Y General Contractor: Architect: Leasing Agent: Developer: T V including viewsoftheLas breathtaking amenities, buildingwith attractive image NorthportPhase IVoffersaprofessional betweenI-15andUS 95, gically located Class Strate- withintheprestigiousCheyenne A finisheslocated Technology Corridor. officebuildingwith Phase IVoftheNorthPort BusinessCenteristheonlytwo-story COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: countsandhighceilings. high window include buildingswithamenitiesthat Cheyenne professional image Avenue frontage, NorthPort offersaestheticallypleasing, betweenI-15andUS95, located Strategically withintheprestigiousCheyenne office/flex buildingslocated Technology Corridor. officeand Phase IIandIIIoftheNorthPort BusinessCenterconsistoffive single-story COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: ype: ype: ear Built: ear Built: egas Strip. 49 50 Office Office Completed Completed KKE /HFTA KKE /HFTA Jun-06 Jun-06 Jackson-Shaw Company / Company Jackson-Shaw Vivian Tyson /702-732-7400 Jackson-Shaw Company / Company Jackson-Shaw Vivian Tyson /702-732-7401 $1.60 NNN $1.35 NNN .Mri opn,AG InsuranceSolutions AIG, MartinCompany, C. Grubb & Ellis / David Scherer/702-733-7500 Grubb &Ellis/David Grubb & Ellis / David Scherer/702-733-7500 Grubb &Ellis/David Affordable Concepts Affordable Concepts 2.04 10.00 28,067 144,288 otPr uiesCne,PhaseII&III NorthPort BusinessCenter, otPr uiesCne,PhaseIV NorthPort BusinessCenter, 3537 .CheyenneAve. 3355-3575 W. 65W CheyenneAve. 3675 W.
NORTH sprinklered wihpaintedinteriorwarehousewalls. andfullyfire 3-Phase4-Wireelectricalservice 12' X14'grade-levelroll-updoors, include Someofthefeatures 16'-20'warehouseclear heightand commercial use. any degreesofofficebuild-outtoaccommodate from 2,600-7,500SFwithvarying Buildingsrangeinsize 25%build-out. tion andindustrialbuildingswithapproximately mezzanineindustrialbuildingsdeliveredinturnkeycondi- onCheyenne frontage Ave., COMMENTS: Major Tenants: T Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Steve Paravia /702-734-4500 Leasing Agent: Developer: ype: ear Built: 51 Office /Industrial Planned Lee &Sakahara Architects n t.2007 2nd Qtr. elyCntuto aaeetC./KenHansen714-437-1122 Co. Hedley Construction&Management This high-image businessparkwillconsistofofficebuildingswith This high-image $176 -$235SFShell V i omrilBoeae/KvnHgis Garrett Toft & /KevinHiggins, oit CommercialBrokerage TBD 7.51 119,573 hyneAe &ClaytonSt. Cheyenne Ave. H bizctrCheyenne ibility andfrontage. vis- great flexibilityinahighprofilepark, auniqueproducttype, offers businessowners ed intheNorthLas CheyenneCommerceCenter Vegas Cheyenne Technology Corridor. industrialcomplexlocat- Cheyenne CommerceCenterisa+/-203,386SFhigh-image COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: T ype: ear Built: 52 Industrial Completed VLMK ConsultingEngineers Sep-06 Harsch InvestmentProperties/JohnRamous702-362-1400 $0.85 -$1.50NNN Lockheed Martin, Silver State Helicopters, United Blood Service UnitedBloodService Helicopters, SilverState Lockheed Martin, Harsch InvestmentProperties/ Alma Vasquez /702-362-1400 TWC Construction 15.06 203,386 Cheyenne CommerceCenter 7 3 .Cheyenne Ave. 570 -730 W. The Park at Northpointe Aliante Corporate Center 53 Martin Luther King Blvd. & Craig Rd. 54 2550 Nature Park Dr.
Type: Office Type: Office Developer: Glen, Smith & Glen Development/ Kenneth Smith or David Cohen / Developer: American Nevada Company / Charles Van Geel / 702-458-8855 702-212-9400 Leasing Agent: CBRE / Brad Peterson / 702-369-4800 Leasing Agent: Colliers International / Suzette LaGrange & Chris Jensvold / Architect: JMA Architecture Studios 702-735-5700 General Contractor: The Korte Company Architect: Perkowitz & Ruth Architects General Contractor: SR Construction Year Built: Sep-06 Year Built: Nov-06 Status: Under Construction Status: Under Construction Project Square Footage: 27,821 Project Square Footage: 97,000 Development Acreage: 6.50 Development Acreage: 9.37 Asking Rates: $2.25 - $2.35 MG Asking Rates: $1.70-$1.80 NNN / $185-$205 SF Shell Major Tenants: Dr. Tim Tolan Ear, Nose, & Throat, Dr. Ivan Goldsmith Internal Major Tenants: Pain Wellness Center, Pentagon Studios, TLC Dental Medicine, Dr. Ben Rodriguez Plastic Surgery/Skin Institute, Dr. Steven Canfield, DDS COMMENTS:The Park at Northpointe is a 9.37 acre development featuring 18 single- story buildings ranging from 4,200 to 7,200 SF for sale or lease. The Park features a COMMENTS: sophisticated architectural style with stone exterior building accents and lushly land- Architecture of this two-story Class B office building is influenced by surrounding desert scaped common areas with trellises between many of the buildings to create an open forms and environment. Exterior features include the use of vibrant stucco, stone ve- park-like atmosphere. Located at the center of the North Las Vegas retail corridor on neers, metal canopies and sunshades. The site was designed to provide maximum Martin Luther King Blvd. and Craig Rd.. views of the northern mountains and expansive Nature Discovery Park to the south. NORTH n okhg n rd-ee or.Leasingand saleopportunitiesareavailable. and dock-highgrade-level doors. ESFR 200'truckcourt, 3-phasepower, 30'clear The projectfeatures height, buildings. Cheyenne IndustrialCenterwillconsistof fourconcretetilt-upwarehouse/distribution COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: T crossdock buildingwitha30'clear heightdivisbleto25,168SF. BuildingBisa234,836SF ing buildingwitha28'clear heightanddivisibleto27,022SF. a188,950SFfront-load- ThefirstphaseconsistsofBuilding A, consisting ofsevenbuildings. The NorthernBeltwayIndustrialCenterwillbea1,926,000SFmaster-planned industrialpark T Developer: COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: T Leasing Agent: Developer: ype: ype: ear Built: ear Built: im Snow /702-734-4500&702-260-1008 im Snow 57 55 Industrial Industrial Under Construction Planned lkl,Johnson&Ghusn Inc. Blakely, Lee &Sakahara Architects Mar-07 r.Qr 2007 Qtr. 3rd. P Thomas &MackDevelopmentGroup/ Tim /702-260-1008 Snow ntoiDvlpetCmay LLC/JasonKuckler /702-269-1360 DevelopmentCompany, anattoni 85&47 hyneAe and3125&3175Marco 4825 &4875Cheyenne Ave. TBD TBD V Grubb & Ellis / Xavier Grubb &Ellis/Xavier Wasiak /702-733-7500 oit Commercial Brokerage & oit CommercialBrokerage Valley Realty/KevinHiggins& Northern BeltwayIndustrialCenter-BuildingsA&B TBD P anattoni ConstructionCo. anattoni :1890/B 234,836 188,950/B: A: 26.00 21.22 492,500 El CampoGrande&RangeRd. Cheyenne IndustrialCenter secured yards. withthefree-standingIndustrial buildingsoffering will offergrade-and dock-loading, Allunits buildings andcondominiumunitsforsale divisiblefrom4,800SFto19,900SF. CartierCommerceCenteroffers bothfree-standingindustrial onLambBlvd., Located COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: 3,750 to11,000SFwithdock-highandgrade-levelloading. lightindustrialbuildingsofferingunitsizesrangingfrom tilt-constructed, image, PhaseIIconsistsofeighthigh- accesstoI-15andLas with immediate Vegas Blvd. NorthLas growing Vegas submarketnearthefamousLas Vegas MotorSpeedway, inthefast- Speedway CommerceCenterconsistsof1.94millionSFandislocated COMMENTS: V Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: Y General Contractor: Architect: Leasing Agent: Developer: T T ype: ype: ear Built: ear Built: enetian CasinoResort 56 58 Industrial Industrial Under Construction Under Construction Group Mackenzie C2G Mar-06 Jan-07 Harsch InvestmentProperties/JohnRamous702-362-1400 Equity Advisors Group/RobertRussell480-505-4048 $135 SFShell $0.58 -$0.75NNN Shelby Automobiles, TexStyles, Las Vegas Cultured Marble, Cultured LasVegas TexStyles, Shelby Automobiles, Harsch InvestmentProperties/ Alma Vasquez /702-362-1400 BRcadEls/DnaAdro,Greg Tassi /702-369-4800 CB RichardEllis/Donna Alderson, TWC Construction Industrial West 8.45 123.00 114,030 1,940,000 Speedway CommerceCenter Cartier CommerceCenter abBv.&CartierSt. Lamb Blvd. I-15 &SpeedwayBlvd.
NORTH T coolers. firesprinklersandevaporative mum clear height, 24'mini- ZonedMD(ClarkCounty), two dock-highandonegrade-leveldoorperunit. Mezzaninelevelwith with 1,057SFofHVAC officebuild-outincluding 1,000SFstorage. unitsdivisibleinto+/- 10,000SF Distribution office/warehousecenteron9.83acres, COMMENTS: Major Tenants: T egt ok n rd-ee or,andasharedtruckcourt. dock-andgrade-level doors, height, 22'-24'clear also offer2mid-baybuildings forleasewithminimumdivisibility of4,800SF, Phase IIwill inPhaseI. offeringalltheamenitiesavailable ing from13,017to26,412SF, ofthemasterplanwith9freestandingbuildingsforsalerang- Phase IImaintainstheflow designofPhaseI. Northeast CrossingCommerceCenterPhase IIcontinuestheinnovative COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: ype: ype: ear Built: ear Built: 61 59 Industrial Industrial Planned Under Construction eadGrpc I,LLC Gerald Garapich AIA, TBD 2007 Nov-06 Jackson-Shaw Company / Company Jackson-Shaw Vivian Tyson /702-732-7400 OpusDevelopment/MichaelPanciroMagnum /702-838-8811 TBD $0.59 -$0.63NNN BRcadEls/DnaAdro,Greg Tassi /702-369-4800 CB RichardEllis/Donna Alderson, RichardLuciani/702-547-1110 IPG Commercial/JeffBarton, Northeast CrossingCommerceCenter-PhaseII TBD Magnum OpusDevelopmentCo. Magnum 19.48 9.83 292,900 172,000 hyneAe &LambBlvd. Cheyenne Ave. Magnum LightDistribution abBv.& Alto Lamb Blvd. suit opportunities are available withinthepark. suit opportunitiesare available Additionalbuildingsareplannedandbuild-to- 56,700SF. to unitsofapproximately concretetilt-upbuildingdivisible Building3isaplannedcross-dock, dustrial park. 102-acremaster-planned in- NorthLas LogistiCenter at Vegas isa2.1millionSF, COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: 702-735-5700 Leasing Agent: Developer: 1 milefromtheCommunityCollegeofSouthernNevada. andlessthan Cheyenne Avenue offeringeasyaccesstotheI-215Beltway, via E. minutesfromI-15 Thisdevelopmentislocated skylightsandtruckcourts. power, 277/480volt dock-highandgrade-leveldoors, 24'clear height, yards, down Securablelay- rangingfrom16,180to26,230SF. standing buildingsforsale, COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: T T ype: ype: ear Built: ear Built: 60 62 Industrial Industrial Under Construction Under Construction DHA Architects lkl,Johnson&GhusnInc. Blakely, 2006 s t.2007 1st Qtr. Jackson-Shaw Company / Company Jackson-Shaw Vivian Tyson /702-732-7400 DP Partners /BradMyers702-791-0000 Phase Iofthis28-acremaster-planned developmentoffers6free- TBD TBD CBRE /Donna Alderson /702-369-4800 e ah&Byn,CWCr. PrideMobility CDWCorp., &Beyond, Bed Bath Colliers International /SuzetteLaGrange&DanDoherty Colliers International Northeast CrossingCommerceCenter-PhaseI LM Construction United ConstructionCompany LogistiCenter atNorthLasVegas -Building3 28.00 130,050 102.00 2,100,000 2925 -2975LincolnRd. Bay Lake Trail
NORTH 4 la egt klgt,EF,dock-highandgrade-levelloadingfencedyards. ESFR, skylights, 24' clear height, parkwithbuildingsfeaturing Thisisahigh-image ranging from17,240to41,309SF. MountainBusinessParkShadow consistsof6free-standingbuildingswithsizes COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: T Developer: ype: ear Built: 63 Industrial Completed KKE /HFTA Mar-06 P ntoiDvlpetC./ JasonKuckler /702-269-1360 DevelopmentCo. anattoni 100% Sold SouthWest Post Tension, Coverall, Arizona Shower Doors ArizonaShower Coverall, SouthWest Post Tension, IPG Commercial/ Art Farmanali /702-547-1110 P anattoni ConstructionCo. anattoni 9.58 164,274 Shadow MountainBusinessPark 85-38 .Pecos Rd. 3835 -3985N. feet builttodate. with1.3millionsquare CraigRd., justeastoftheI-15interchangeat situated businessparkideally state-of-the-art ProLogis Park Northisamaster-planned, COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: T ype: ear Built: 64 Industrial Under Construction lkl,Johnson&GhusnInc. Blakely, Dec-06 ProLogis Trust / Todd Burnight/714-424-1810 TBD h-eCnanr Interex Sho-Me Container, CBRE /Donna Alderson &Greg Tassi / 702-369-4800 TWC Construction 253,200 ProLogis Park North-Building11 ri d &Pecos Rd. Craig Rd.
1 Shadow Lane Office Building 2 Molasky Corporate Center 3 701 Bridger Avenue 4 Mountain View Professional Park 5 Huffman Centennial Hills Center 6 Centennial Corporate Center 7 Las Vegas Tech Center II 8 Las Vegas Tech Center II 9 Cheyenne Fairways Business Center 10 Parkway Pointe 11 Business Bank of Nevada 12 Huffman Park Run 13 Stone Canyon Professional Park 14 The Gardens Plaza 15 Huffman Hualapai Pavilion Commons 16 Siena Office Park 17 Huffman Professional Plaza at Ft. Apache 18 LaPour Corporate Center 19 Desert Canyon Business Park 20 The Park at Spanish Ridge 21 Perimeter Center, Phase I 22 Discovery Gateway Park 23 Copper Pointe Business Park 24 1st National Plaza 25 Centra Point 26 Desert Professional Center 27 Tarkanian Professional Center 28 The Park at San Martin 29 The Arroyo Corporate Center 30 Arroyo North - Phase II 31 Park West 32 Rainbow Sunset Pavilion 33 Rainbow Corporate Center 34 South Rainbow Business Park 35 Spanish Trail Business Park 36 Beltway Business Center - Buildings 4 & 5 37 Beltway Business Park 38 Beltway Business Center - Buildings 6, 7 & 8 39 Corporate Gateway II at Beltway Business Park 40 Decatur Crossing - Phase II 41 Decatur Crossing - Phase III 42 Sunset Parkway Business Center 43 Town Square 44 Blue Diamond Business Center - Buildings 3, 4 & 6 45 Marnell Corporate Center 46 WMS Gaming 47 3883 Howard Hughes 48 Cheyenne Valley Gateway, Phase II 49 NorthPort Business Center, Phase II & III 50 NorthPort Business Center, Phase IV 51 H bizctr Cheyenne 52 Cheyenne Commerce Center 53 The Park at North Pointe 54 Aliante Corporate Center 55 Northern Beltway Industrial Center - Buildings A & B 56 Speedway Commerce Center 57 Cheyenne Industrial Center 58 Cartier Commerce Center 59 Magnum Light Distribution 60 Northeast Crossing Commerce Center - Phase I 61 Northeast Crossing Commerce Center - Phase II 62 LogistiCenter at North Las Vegas - Building 3 63 Shadow Mountain Business Park 64 ProLogis Park North - Building 11 65 Golden Triangle Industrial Park - Buildings B & C 66 Golden Triangle Industrial Park - Building F & G 67 The Creekside Business Center 68 H bizctr Whitney Mesa 69 H bizctr Whitney Mesa II 70 Shea at Warm Springs 71 Henderson Commerce Center IV 72 Water Street South Phase 1 73 Stephanie Beltway Centre 74 The District at Green Valley Ranch 75 Huffman Carmichael Plaza @ Horizon Ridge 76 Carnegie Office Park 77 Siena Pavilion 78 Tuscano Medical Parc 79 Beltway Corporate Center 80 Pebble Place Business Center 81 Venture Commerce Center 82 Pama Lane Office Park 83 Equipment Management Technology Center 84 Shea at Sunset 85 Arrowhead Commerce Center - Buildings 16 & 17 86 Tuscano Professional Parc 87 McLeod Business Centre
Golden Triangle Industrial Park - Buildings B & C Golden Triangle Industrial Park - Buildings F & G 65 4850 & 4855 Engineers Way 66 Craig Rd. & I-15
Type: Industrial Type: Industrial Developer: Operating Engineers Funds Developer: Operating Engineers Funds Leasing Agent: CBRE / Donna Alderson & Greg Tassi / 702-369-4800 Leasing Agent: CBRE / Donna Alderson / 702-369-4800 Architect: HPA Architect: HPA General Contractor: ConAm General Contractor: ConAm Year Built: Mar-06 Year Built: Jun-07 Status: Under Construction Status: Under Construction Project Square Footage: 187,487 Project Square Footage: B: 175,000 / C: 218,330 Development Acreage: 200.00 Development Acreage: 200.00 Asking Rates: TBD Asking Rates: TBD Major Tenants: Office Max, Murray Feiss Lighting, Custom Building Products Major Tenants: Office Max, Kraft Foods, Murray Feiss, Pan Western COMMENTS: COMMENTS: The Golden Triangle Industrial Park is a 200+ acre master-planned project providing The Golden Triangle Industrial Park is a 200+ acre master-planned project pro- state-of-the-art rail-served manufacturing/warehouse facilities. Building F consists of viding state-of-the-art, rail-served manufacturing/warehouse facilities. 108,507 SF and Building G is 78,920 SF.
The Creekside Business Center 67 2535-2555 E. Washburn
Type: Industrial Developer: Panattoni Development Company, LLC / Jason Kuckler / 702-269-1360
NORTH Leasing Agent: Colliers International / Greg Pancirov / 702-735-5700 Architect: Blakely, Johnson & Ghusn Inc. General Contractor: Panattoni Construction Co. Year Built: Apr-06 Status: Completed Project Square Footage: 78,986 Development Acreage: 5.65 Asking Rates: 100% Sold Major Tenants: Line-X, Den Ko Drywall, Right Solutions
COMMENTS: Individual buildings from 3,000 SF and up, with dock- and grade-level loading on every building. The buildings offer 200 amps of 277/480 volt, 3-phase power, 18' clear height and glass storefront entries, all in a business park environment with easy I-15 access.
HENDERSON This willfurther constrainthenewsupplyof industrialproduct alongwithanewdemand formixed-usedevelopments. projects, office change comesastrongerdemand forflexandsingle-story at this timelastyear. leaserate cent increasefromtheaverage whichismorethan a20per- space inHendersonis$0.65SF (NNN), forindustrial leaserate Theaverage dustrial projectsinHenderson. developers hascontinuedtoabsorblandpreviouslyplannedfor in- comparedtoanoverallmarketvacancy of3.1percent. cent, The currentvacancy 3.0per- standsat and Airport submarkets. projects areforcedtoachievepricesequalwiththeSouthwest andfor-sale will seeaminimumnumberoffor-lease projects, of thelargeruserslookingforBeltwayexposure. thehotSouthwestSubmarkethastakensome In additiontothis, withlittle newofficespaceplanned. rently 99percentoccupied, arecur- forthesubmarketoverpastfewyears, ples ofgrowth sta- theGreen Valley CenterandGVCCSouth, Corporate example, For withlittletonovacancies. either leasingquicklyoroperating has dwindledandexistingdevelopmentsintheI-215corridorare alongtheI-215Beltway astheamountoflandavailable slowed the totalmarket’s 9.5percentrate. butstillisover sharplyfrom17.97percentin2005, This isdown thevacancy was13.20percent. rate the secondquarter2006,
US 95 and I-215 and the Eastgate/Auto Show Driveinter- Show US 95andI-215theEastgate/Auto With thecompletionoffreeway-to-freeway interchange automotiveandresidential retail, Competition frommixed-use, withthesubmarket’s av- beenontherise, have Lease rates has slightly thesubmarketenjoyed The explosivegrowth Dan Doherty David Flynn David T T rcseceig$5PF Henderson prices exceeding$15PSF, Withland crease innewconstruction. primarily toasubstantialrecentde- but 2.5 yearsduetostrongdemand, sistent dropinvacancy overthepast Thisareahasseenacon- al inventory. about 11.5percentofthetotalindustri- Thisis 6,366,328 SFin321buildings. currently consistsofapproximately Thesubmarket south ofSunsetRoad. gether withtheareaeastofPecos and P ulig rmtepeiu er Asof buildings fromthepreviousyear. up over1millionsquarefeetand81 csRa ot fWnml ae to- ecos Roadsouthof Windmill Lane, tween theLas Vegas Stripand loosely definedastheareabe- he HendersonOfficesubmarketis 03200S,whichrepresents 10,312,000 SF, ket consistsofapproximately he HendersonIndustrialsubmar- Henderson IndustrialSubmarketOverview Henderson OfficeSubmarketOverview yDnDhry ColliersInternational By DanDoherty, yDvdFyn Lee& Associates Flynn, By David uiisaerr,and thepricescontinuetogo up. tunities arerare, acquire abuildingordevelopment site–goodluck! The oppor- Ifyouarelookingto property. ifyoucurrentlyown istosay, That Mountain IndustrialCenter. light industrial/commercialuse totaling140acresintheBlack iscurrently processingfourparcelsoflandfor Inc. Management, Basic Asapotentialreliefpointfor industrialland, ter PhaseIII. ofHendersonCommerceCen- LLCisintheplanningstages ties, HarschInvestmentProper- suit forFerguson PlumbingCompany. Joel Laub& iscurrentlybuildinga 90,000SFbuild-to- Associates struction on13office/warehousebuildingstotaling98,800 SF. ground on Valley Freeway CenterIIIandtheyarealsoundercon- CondeDelMarisduetobreak come onlinethroughout2007: area continuestodwindle. industrialbase inthis theoutlookforagrowing supply oflabor, premiumresidentialopportunitiesandagood location, great WhileHendersonoffersindustrialusersa the pasttwoyears. price forindustriallandinHendersonhasmorethandoubled The which arebetterequippedtoabsorbthehigherlandcosts. newopportunitiesforindustrialmixed-useprojects, creates butitalso amuchfasterpace, and causerentstoincreaseat over thenext5years. forHenderson’swill providethepath tofollow futuregrowth RoseParkway andLas Vegas Blvd., St. the plannedresortsat alongwith Thesedevelopments, community justtothesouth. project withthenearly2,000-acreInspiradamaster-planned 1 millionSFplannedinits125-acreCityCrossingmixed-use PliseDevelopmenthasmorethan RoseParkway. west alongSt. forthissubmarketwillbemoving whilefuturegrowth activity, SF HighlandPlazaprojectadjacenttoMacDonaldHighlands. 113,000 31,000 SF Anthem ProfessionalPlazaIII;andthe9-acre, Parkway; the 100,000+ SFintheScottsdalePlazaonMaryland sional CenteronEasternnear Windmill; 20officebuildingswith Green Valley Center;the33,000SF Corporate Viewpoint Profes- can Nevada’s planned100,000SFmid-riseClass A buildingin Eastern&I-215; Centerat 125,000 SFBeltwayCorporate Ameri- 52,000 SFPebble Easternby Placeat Anchor Development;the 100,000 SF Tuscano MedicalParc HorizonRidge&Jeffries;the at suchasfreerent. concessions fromlandlords, wearealsoseeingfewer dropped, Asthevacancieshave basis. newer developmentstendtobeinthe$1.90plusrangeonaNNN although basishitting$2.30PSF, onaFullService rate erage The outlook on the Henderson Industrial Market is very bright. The outlookontheHendersonIndustrial Marketisvery Here areafewofthemoresignificantindustrialprojectsto The HorizonRidgecorridorhasrecentlybeenahotbedof SteelheadDevelopment’s Current developmentsinclude: H bizctr Whitney Mesa H bizctr Whitney Mesa II 68 Mountain Vista & Whitney Mesa 69 Mountain Vista & Whitney Mesa
Type: Office / Industrial 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: Voit Commercial Brokerage / Kevin Higgins, Garrett Toft & Leasing Agent: Voit Commercial Brokerage / Kevin Higgins, Garrett Toft & Steve Paravia / 702-734-4500 Steve Paravia / 702-734-4500 Architect: Lee & Sakahara Architects Architect: Lee & Sakahara Architects General Contractor: Brooks Corporation General Contractor: TBD Year Built: 4th Qtr. 2006 Year Built: 4th Qtr. 2006 Status: Under Construction Status: Planned Project Square Footage: 58,515 Development Acreage: 3.31 Project Square Footage: 58,515 Development Acreage: 3.31 Asking Rates: $175 - $240 SF Shell Asking Rates: $185 - $215 SF Shell Major Tenants: Major Tenants: COMMENTS: Centrally located in Henderson, close to McCarran Airport, the Strip, US 95 and I-215, these high-image industrial buildings offer fully finished open COMMENTS: H bizctr Whitney II will be very similar to Whitney I. However, the office plans, with single-story and mezzanine configurations. Buildings range in mezzanine industrial buildings will range in size from 3,000 - 6,200 SF with size from 3,500 - 7,487 SF with turnkey office build-out of 40 - 60%. Coffee/lunch bars, upgraded restrooms, 16’-20’ warehouse clear height, 12’ X 50% - 70% office build out delivered turn-key. The project will also feature shell 14’ grade-level roll-up doors, 3-phase electrical service, full fire sprinklers, office buildings for sale ranging in size from 2,300 - 8,000 SF and will have ex- painted interior warehouse walls. cellent views overlooking the Mesa.
Shea at Warm Springs SUBMARKET SPONSOR 70 1510-1528 W. Warm Springs Rd.
Type: Office Developer: Shea Commercial / Lucinda Stanley / 702-363-7600 Leasing Agent: Shea Commercial / Steven Santana or Darlene Sandri / 702-363-7600 Architect: DFD Cornoyer Hedrick General Contractor: Caviness Construction Company Year Built: Jun-06 Status: Under Construction Thanks for Project Square Footage: 54,186 supporting NAIOP! Development Acreage: 5.50 Asking Rates: $215-$230 SF Shell Major Tenants: WaterMark Executive Suites
COMMENTS: This project has eight single-story buildings ranging from 4,000 SF to over 7,000 SF.Use is Medical/Professional CP zoning. Frontage on Warm Springs still available. Exquisite desert landscaping. Excellent traffic count and close to the I-215 and US 95. HENDERSON Show exitofUS95. Show the at HendersonCommerceCenterIVislocated Auto from 1,000to100,000SF. lightIndustrialandwarehouse/distributionspacewithunitsizesranging office, flex, Thepark consistsof Nevada. inthevibrantcityofHenderson, development located COMMENTS: LeafCabinets Maple Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: T ype: ear Built: 71 Industrial Completed VLMK ConsultingEngineers Nov-05 ashIvsmn rpris LLC/JohnRamous702-362-1400 Harsch InvestmentProperties, Henderson CommerceCenterIVisan800,000SFmaster-planned $0.44 -$0.65NNN trg an t vneFriue GoodHumorIceCream& 5th Avenue Furniture, Barn, Storage Colliers International /DanDoherty702-735-5700 Colliers International TWC Construction 49.00 826,000 Henderson CommerceCenterIV 7390 &7380Eastgate leased to Nevada State College. leased toNevadaState PhaseIIofthedevelopmenthasbeen John SimmonsandSH Architecture’s RonHall. by thisprojecthasbeendevelopedandoperated Henderson Redevelopment Agency, withCityof Incooperation Henderson. indowntown a mixed-usedevelopmentlocated The Water StreetSouthDevelopmentprojectis plete the Water StreetSouthComplex. COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: T ype: ear Built: 72 Office Under Construction SH Architects Dec-06 Ronald CHall/702-363-2222 Wa Nevada State College Nevada State Ronald CHall/702-363-2222 ter Street South Phase II is a 29,500 SF office building that willcom- ter StreetSouthPhaseIIisa29,500SFofficebuildingthat Burke & Associates 1.76 29,500 W ater StreetSouthPhase1 1 .Water Street 311 S.
HENDERSON growing retailandresidentialinthevalley.growing The center iswithinclose proximitytothefastest fromtheI-215Beltway. seconds away Stephanie BeltwayCentreisa161,000SFmaster-planned just businessparklocated COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: T ype: ear Built: 73 Office Completed KKE /HFTA Mar-06 W estern Realco / Gary Edwards/949-720-3787 estern Realco/Gary $1.85 MG Colliers International / Colliers International Tom StilleyorLizz/702-735-5700 Burnett HaaseContractors 52,000 Stephanie BeltwayCentre 5 .StephanieSt 150 N. upon arrival. asenseofelegance creating originalartworkandliveplants, ly detailedlightfixtures, classical- woodpaneling, stoneflooring, natural floors ofthesebuildingsincorporate Mainlobbiesinthesecondandthird trances toshopsfrontingtree-linedstreets. isdefinedbythecenter'sarchitectureanden- The ambianceofanortheasterntown COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: T ype: ear Built: 74 Office Completed JMA Architecture Studios JMA Architecture May-06 American Nevada Company /Charles American NevadaCompany Van Geel/702-458-8855 $2.60 MG American Nevada Company /Charles American NevadaCompany Van Geel/702-458-8855 The Korte Company 17.50 51,704 The DistrictatGreenValley Ranch 2 7 .Green Valley Pkwy. 120 &170S.
HENDERSON tal andprofessional. den- formedical, Thisisaprimeofficelocation CVS and Walgreen's pharmacies. onthecornersareentrancetoSunCityMcDonaldRanch, Located GVR. trict at along with The Dis- from theI-215Freeway &theGreen Valley RanchHotel/Casino, V areaofGreen 60,000 SFdevelopmentinthegreat Valley RanchjustwestofGreen COMMENTS: Major Tenants: T Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: ype: ear Built: le aka.15mlsfo h t oeHsia atr v.ae.Onemile area. RoseHospital&Eastern Ave. 1.5milesfromtheSt. alley Parkway. 75 Office Under Construction PGAL Jun-07 Huffman Sarrett/702-341-8810 West Gould&Cody /Ryan $2.00-$2.25 NNN/$260SFShell Huffman Sarrett/702-341-8810 West Gould&Cody /Ryan TBD Huffman CarmichaelPlaza@HorizonRidge 4.50 60,000 Horizon Ridge&Carmichael Way than onemiletoGreen Valley Ranchand The District. less onbothHorizonRidgeandCarnegie, Accessibleingress/egresslocated floor plans. Flexible generoustenantimprovementallowance. Convenient accesstoI-215Beltway, COMMENTS: Major Tenants: Asking Rates: Development Acreage: Project SquareFootage: Status: Y General Contractor: Architect: Leasing Agent: Developer: T ype: ear Built: 76 Office Planned Roy Smith Roy Aug-07 a ea eia ates LLC/RonMcMenemy702-938-6565 Las Vegas MedicalPartners, $2.20-$2.35 NNN NAI Horizon/RonMcMenemy702-938-6565 TBD 4.55 51,078 Horizon Ridge&Carnegie Carnegie OfficePark Siena Pavilion Tuscano Medical Parc 77 2865 Siena Heights Dr. 78 10521-10581 Jeffereys St.
Type: Office Type: Office Developer: Siena V Holding Limited Partnership / Mitch Ogron / 702-596-5611 Developer: Steelhead Development, Inc. / Argo Corporation Leasing Agent: Lee & Associates / Chuck Witters, SIOR or Dave Flynn / Leasing Agent: Lee & Associates / Chuck Witters, SIOR & David Flynn / 702-739-6222 702-739-6222 Architect: JMA Architecture Studios Architect: Gerald Garapich General Contractor: Massengale Construction General Contractor: Steelhead Development Year Built: Jun-06 Year Built: Aug-06 Status: Completed Status: Under Construction Project Square Footage: 65,000 Project Square Footage: 94,720 Development Acreage Development Acreage: 7.80 Asking Rates: $2.10 NNN Asking Rates: $2.00 NNN Major Tenants: Total Renal Care, Nephrology & Endocrine Associates, Labor Major Tenants: COMMENTS: COMMENTS: Class A three-story 65,000 SF medical and professional office building. Upscale Park-like grounds, Tuscany Mediterranean architecture, four 23,000 SF buildings, design and finishes. State-of-the-art central plan HVAC system, 5:1000 parking extensive use of Italian tile in building common areas, generous tenant improve- ratio and $40/SF tenant improvement allowance. ment allowance. Beltway Corporate Center Pebble Place Business Center 79 8965-8985 S. Eastern Ave. 80 2140 & 2190 E. Pebble Rd.
Type: Office Type: Office Developer: DSA Development / Daryl Alterwitz / 702-735-0061 Developer: Anchor Development / Bill Goff / 702-253-7600 Leasing Agent: CBRE / Randy Broadhead / 702-369-4800 Leasing Agent: Goff Properties / Brooklyn Julian / 702-253-7600 Architect: Indigo Architects Architect: JSA Architecture General Contractor: The Korte Company General Contractor: TWC Construction Year Built: Jul-06 Year Built: Sep-06 Status: Completed Status: Under Construction Project Square Footage: Phase 51,928 Project Square Footage: 128,000 Development Acreage: TBD Development Acreage: 25.00 Asking Rates: $1.85 SF NNN / $260 SF Shell Asking Rates: $2.05-2.15 MG Major Tenants: Major Tenants: Kimball Hill Homes COMMENTS: COMMENTS: Class A office park consisting of two 2-story 26,000 SF buildings. Featuring extensive Beltway Corporate Center s a professional office development that will comprise imported limestone, interlocking pavers, lush landscaping, curtain glass and a 5.6/1,000 two 3-story buildings totaling +/- 128,000 SF. Convenient location off I-215 at East- parking ratio with covered parking. Excellent location just off the I-215 at Eastern, and ern Ave. offering excellent freeway visibility and accessibility and within minutes of minutes from McCarran Airport and the Strip. Close amenities complete the profession- McCarran Airport. al atmosphere. HENDERSON
The National NAIOP Organization
he National Association of In- T dustrial and Office Properties is the nation’s leading trade association for developers, owners, in- vestors and other professionals in indus- trial, office and mixed-use commercial real estate. NAIOP provides communication, net- working and business opportunities for all real estate related professionals; pro- vides a forum for continuing education; and promotes effective public policy, through its grassroots network, to create, protect and enhance property values. Founded in 1967, NAIOP’s extensive network comprises 52 chapters in North America that provide members opportunity to participate and enhance their business through educational programs, networking and government affairs on a local level. Na- tionally, members may participate in numer- ous educational conferences and the Nation- al Forums for professional development. NAIOP is a member-driven associa- tion, with a national staff headquartered outside Washington, D.C. The associa- tion is guided by a 10-member execu- tive committee and a 68-number board of directors. The national chairman, ex- ecutive committee and board help set the association’s agenda. NAIOP offers education programs, research on trends and innovations, net- working opportunities and strong legisla- tive representation. Its members are the principal players who shape the industry. NAIOP has partnered with AMPIP (Mexi- can Association of Industrial Parks) to expand the association’s international reach.
Mission Statement NAIOP is a national association with an extensive chapter network that repre- sents the interests of developers, owners, asset managers, investors and other pro- fessionals involved in industrial, office and mixed-use real estate throughout North America. NAIOP provides communication, networking and business opportunities; creates a forum for continuing education; and promotes effective public policy, through its grassroots network, to create, protect and enhance property values.
Majestic Realty Co. Helps Fuel Economic Engine of Las Vegas
ajestic Realty Co., a Southern M California-based commercial and industrial real estate devel- oper, reports overwhelming interest in its resort-corridor properties from a wide vari- ety of tenants serving the hotel and casino sectors. At present, Majestic’s Las Vegas portfolio spans more than 4 million square feet of commercial, industrial, warehouse and distribution space. “Our building occu- Majestic’s success in the thriving With its emphasis on big-box ware- pancy levels are outstanding,” said Rod local real estate market is evidenced by house and distribution projects centrally Martin, Majestic Realty vice president. the early and strong interest in two build- located near the resort corridor and Mc- “We’ve maintained 100 percent occupancy ings the company currently has under Carran International Airport, Majestic’s throughout our local portfolio for more than construction. The first (approximately portfolio is strategically positioned to ser- four years.” 250,000 square feet) is pre-leased to vice what Martin calls the “economic en- In fact, from its initial local land pur- Brady Industries, a distributor of janitorial gine of Las Vegas,” namely, the suppliers chase in the late 1980s, to the opening of supplies, and Martin said Majestic is in of goods and services to the local hotel, its Las Vegas office in 1995, Majestic has final negotiations with a tenant for full oc- gaming and convention industries. grown to rank among the largest industri- cupancy of the second building (approxi- Meanwhile, Majestic continues de- al developers in the region. mately 290,000 square feet). velopment at Beltway Business Park through a partnership with Thomas and Mack Development Group. Beltway is a 400-acre commercial project fronting I- 215 from Jones Blvd. to Decatur Blvd., with approximately 1.3 million square feet of existing industrial space and 450,000 square feet of office/flex space. Tenants include GES Exposition Services, KB Home, Hilton Grand Vacations and InfoGe- nesis, among others. Majestic Realty’s relationship with Thomas & Mack will continue to expand at Beltway Business Park. “Within the next 12 months, Majestic and Thomas & Mack plan to develop another 1 million square feet of industrial product, more than 300,000 square feet of office product and more than 50,000 square feet of retail space in the park,” Martin said. Majestic’s other Las Vegas-area de- velopments include Sunset Parkway Busi- ness Center (1,500,000 square feet), Sun- set & Valley View Distribution Center (560,000 square feet), Russell Road Distri- bution Center (410,000 square feet), Ma- jestic Runway Center (337,000 square feet) and the Majestic Post Industrial Cen- ter (115,000 square feet).
Silver State Bank Southern Nevada’s Local Business Bank
hat started with a few ambi- W tious employees has become one of Nevada’s top banking institutions. Silver State Bank began as a small shop in May of 1996. Today, it is labeled one of the nation’s highest-per- forming independent banks, and has more than 200 employees. Silver State Bank has played an integral part in the growth and devel- opment of the Las Vegas Valley. With nine branches located in Southern Nevada, Silver State Bank is consid- ered a leader in Small Business Admin- istration (SBA) loans. Silver State Bank has also expand- ed its banking expertise outside the state of Nevada by opening loan pro- duction offices in Colorado, California, Utah, Oregon, Arizona and Washington. Silver State Bank also has a sister company, Choice Bank, located in Phoenix, Ariz. Small enough to offer personalized service but big enough to address busi- ness needs, Silver State Bank provides banking services to businesses such as commercial and residential develop- ment, wholesale distribution and con- struction services, as well as the ser- vice and medical industries. In addition to commercial banking, Silver State Bank offers a full line of consumer banking products. “At Silver State Bank, you will be greeted by a neighbor and treated as such. Our employees and directors live and work in the community we proudly call home,” said Tod Little, the bank’s CEO. “Together, we will strive to provide you with a level of commitment and quality of service increasingly absent in larger institutions. We are excited about the future, and we believe our local bank will serve as a catalyst for our community’s continued prosperity.” Shea Commercial Diversifying, Growing and Developing
s Las Vegas grows, so grows Shea Commercial. The city, has spread to the suburbs, too. The residential market has A Scottsdale, Arizona-based company opened an office swallowed much of the acreage once set aside for industrial use. here three years ago with just two sales agents and Meanwhile, various municipalities grant zoning changes in ap- projects totaling 182,000 square feet. Today, the branch boasts parently random fashion, which has created a crazy quilt of resi- 12 agents representing 425,000 square feet under construction. dential and industrial projects on top of each other. An additional 240,000 square feet of projects is scheduled to Infrastructure, Stanley noted, is the chief issue facing new break ground this year, on top of two more projects (totaling industrial projects, along with land prices exceeding $20 per more than 97,000 square feet) that recently closed out. square foot and fast-rising construction costs. Those challenges Shea Commercial-Las Vegas provides full-service expertise make it difficult to forecast the potential profitability of an indus- for its clients. In the commercial-brokerage area, company offer- trial project. “Larger parcels and a mix of commercial uses will be ings include tenant representation, project leasing, general bro- targeted to accommodate the industrial market,” she predicted. kerage and disposition. 2006 has been a transitional year in the Shea Commercial aims to offset these market uncertainties market. Vacant units in existing buildings for lease have been ab- with diverse services that grew out of its expertise in office-condo sorbing quickly, with new “for lease” space being offered at much development, which company founder Jim Riggs pioneered in higher rates and higher tenant improvement (TI) allowances. Phoenix in the 1990s. Office condos allow businesses to own office According to Lucinda Stanley, CCIM, CPM, who is Shea space they couldn’t normally afford. This is especially true if the Commercial’s senior vice president and principal in Las Vegas, owners want to buy land and develop it in a desirable location. “The $25-to-$30 per square foot allowances are outdated, and “We foresee continued growth in this business,” Stanley said. office developers are allocating higher benefits of around $40 to “Commercial buildings for sale are long-term investments that pro- $50 per square foot.” vide predictable monthly expenses, tax advantages and the ability to Contrary to the ad slogan, not everything that happens in Las build equity. In addition, business owners can customize their space Vegas stays here. One trend, a shortage of developable land in the to meet their unique needs in a convenient and accessible location.”
Commercial Professionals, Inc. OUR CLIENTS ARE TOP PRIORITY • INDUSTRIAL, RETAIL, OFFICE • SALES AND LEASING • MULTI-FAMILY • LAND ACQUISITIONS
Over $200,000,000 in closed transactions
(702) 792-3440 www.LasVegasCommercialRE.com Stoltz Management Company Overseeing Las Vegas Valley Projects
ver the last 50 years, the Stoltz has successfully diversified its capabili- O Management Company has In Nevada, Stoltz Management ties, garnered comprehensive industry evolved from a small, regional Company oversees 700,000 square expertise and championed exceptional family real estate service and investment service and operational excellence. feet at Hughes Airport Center and business into a leading national real es- In Nevada, Stoltz Management Com- tate/investor/operator and trusted fidu- Hughes Cheyenne Center. pany oversees 700,000 square feet of of- ciary. Through three generations, Stoltz fice/warehouse, office/flex and industrial buildings at Hughes Airport Center and Hughes Cheyenne Center. At Hughes Air- port Center, the company completed the development of two build-to-suit facilities for gaming industry manufacturers, Kona- mi Gaming and WMS Gaming, which to- taled over 200,000 square feet. The Stoltz portfolio at the Hughes Airport Center currently has a 90 per- cent occupancy rate. A new 180,000- square-foot Class A office building is ex- pected to break ground the first quarter of 2007 with occupancy by January 2008. Another 90,000 square feet of new space is being planned for the re- maining two undeveloped parcels, and the Hughes Airport Center is expected to reach build-out by 2010. Hughes Cheyenne Center is a 220,000-square-foot business park locat- ed between the North Las Vegas Airport and I-15 on Cheyenne Avenue, in the Cheyenne Technology Corridor. It consists of more than 20 buildings and has an ex- cellent mix of occupants, including of- fice/warehouse users. In addition, the company owns 6.74 acres of land at the site for potential development. The senior executive team at Stoltz Management Company is composed of seasoned professionals with decades of experience in successful private real es- tate investing, asset management and leasing, equity joint ventures, invest- ment banking and public company man- agement. The Las Vegas team includes Wes Jenson as senior vice president, overseeing all operational aspects of the Las Vegas portfolio, and Senior Vice President Kirt Klaholz, who has a long history of involvement in the real estate industry in the Las Vegas Valley, with more than 30 years of experience. NAIOP Presidents
Ralph I. Murphy 2006 President
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 Voit Commercial Brokerage Serving Southern Nevada
ongtime Las Vegans Kevin Hig- ment and corporate services. groups. Their high level of success has L gins and Kit Graski opened Voit In the short time since Voit’s Las also brought them national recognition. Commercial Brokerage in Las Vegas launch, the company has estab- In 2005, Higgins closed 73 transac- Vegas in October 2002 as senior vice lished itself as one of the leading com- tions totaling more than $388 million and presidents of the national firm. The of- mercial real estate brokerage firms in was named Voit’s No. 1 broker nation- fice has expanded its specialties from Southern Nevada, and its principals con- wide. He served as president of the industrial and retail to sales and leasing tinue to play leading roles in local com- Southern Nevada chapter of NAIOP in of office properties, as well as invest- munity organizations and professional 2003 and as president of the Southern Nevada Chapter of the Society of Indus- trial and Office Realtors (SIOR) in 2004. Higgins was named NAIOP’s Industrial Broker of the Year in 2006, which was his fourth time winning this prestigious award. Higgins earned NAIOP’s Industrial Broker of the Year award in 2000, 2001, 2003 and 2006, as well as NAIOP’s Spe- cial Recognition Award in 2004. Graski completed 38 transactions totaling more than $72.5 million in 2005, earning him the company’s No. 5 ranking nationally. He is an active mem- ber of the International Council of Shop- ping Centers (ICSC). A retail expert with 21 years of experience working in one of the strongest and most prosperous retail markets in the country, Graski’s exten- sive client list boasts well-known retail- ers, including The Home Depot, Bed Bath & Beyond, Smith’s Food and Drug Cen- ters, Border’s Books, Sports Chalet and Men’s Warehouse. Graski is currently marketing the largest retail power cen- ter under development in Las Vegas, Ar- royo Market Square, a 950,000-square- foot center. Voit continues its strategic alliance with Applied Analysis, a Las Vegas- based advisory services firm that pro- vides Voit with commercial real estate market research, including a compre- hensive real estate database, tracking and analysis of market indicators, de- mographics, market trends and other market-specific data. 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, headquar- tered in Woodland Hills, Calif., has com- pleted sales and lease transactions val- ued in excess of $12 billion. Summerlin Centre Office Plans Announced
etailed plans for Summerlin Centre, the master-planned easily make the area the favorite place to see and be seen. At the D community’s social, civic and commercial heart, were re- very heart of Summerlin Centre is a grand public plaza that will cently unveiled and will significantly alter the Summerlin host frequent public and civic events, including musical or dramat- map and skyline and forever change the shopping, dining and gath- ic performances and community celebrations. ering habits of those who live in Summerlin and surrounding com- Summerlin’s regional retail center is planned to include: munities. It will also enhance the work environment of those lucky • 1.5 million SF of retail with four major department store anchors enough to be officed there. (including luxury), additional “mini-anchors” and other local and According to Kevin Orrock, top division executive of The Howard national retail merchants in an open-air design. Hughes Corporation, a subsidiary of General Growth Properties, Inc., • A 250-room, non-gaming, four-star, boutique hotel with confer- plans call for two five-story towers of Class-A office space located ence facilities. on floors two through five, with retail on the first floor. Each tower • A series of grand public plazas where events such as cultural offers approximately 130,000 SF of space for a total of 260,000 SF. performances and community celebrations will be staged. Additional office space will be located over retail space featured in • A wide array of fine dining and entertainment options. a two-story setting. • An exciting collection of urban residential homes above street- “That’s a significant volume of office space planned for the ini- level retail stores and restaurants. tial phase of development within Summerlin Centre,” said Orrock. Summerlin Centre’s urban core will be developed just south of “All of it is located above an expansive retail offering, and we’re al- the Red Rock Casino, Resort and Spa and is conveniently located ready receiving calls from companies interested in being part of this between Summerlin Centre Drive and Sahara Avenue, west of exciting project.” Pavilion Center Drive and east of the 215 Beltway, providing easy According to Orrock, Summerlin Centre is being designed as an access from the Las Vegas Strip, McCarran International Airport urban destination with an array of first-class amenities that will and the entire Las Vegas Valley. Thomas & Mack Development Group Involved in Diverse Commercial Projects
he Thomas & Mack Develop- fice buildings, to single-story flex office 400-acre Beltway Business Park, in part- T ment Group is a partnership of buildings, to retail-service developments. nership with Majestic Realty Co. accomplished real estate pro- The firm has several properties At McCarran Center, the group is fi- fessionals specializing in the development throughout the Las Vegas Valley, includ- nalizing plans for an 8,000-square-foot of commercial, industrial and retail proper- ing: McCarran Center, a 100-acre master- retail services building, which will be ties in Southern Nevada. The firm is cur- planned, mixed-use park near the airport; developed on the last available site in rently developing a variety of product Las Vegas Technology Center II, a 71-acre the center. This building will close out types, ranging from multi-story Class A of- project located in the northwest; and the development in this highly successful business park. In the northwest, Thomas & Mack is completing a 35,000-square-foot, two- story office building in the Las Vegas Technology Center II (LVTC II). This two- story Suburban Class A office building completes an architecturally distinctive office complex that is available for sale or lease. Thomas & Mack recently complet- ed a 44,000-square-foot, single-story flex office building in LVTC II. At the Beltway Business Park, Thomas & Mack and Majestic are com- pleting Corporate Gateway II, a three- story office building. Corporate Gateway II is a twin to the existing Corporate Gate- way I, which was honored as NAIOP’s 2006 Spotlight Awards Office Building of the Year. In addition, the partnership is constructing three, single-story flex office buildings totaling 125,000 square feet. Also under construction is the Beltway Commons, 38,000 square feet of retail- service buildings that will provide food and other amenities to the tenants in this master-planned business park. At build- out, Beltway Business Park will include 5 million square feet of office, distribution and retail facilities. Thomas & Mack continues to devel- op significant properties for businesses that are helping to diversify the economy in Southern Nevada. Committed to the community and the real estate industry, the firm continually contributes to local and national NAIOP activities. Two of the firm’s executives, Tim Snow and Rick Myers, are past presidents of the South- ern Nevada NAIOP chapter and are cur- rently serving on the Board of Directors. In addition, Snow and Myers are in- volved in the NAIOP National Forums, and have attended numerous NAIOP events around the country. 1st National Bank of Nevada Showing Record Rate of Growth
st National Bank of Nevada, the largest locally owned top scanner to electronically deposit checks, saving customers 1 bank in Nevada, posted a record 50 percent growth in trips to the bank and offering faster access to funds. revenues in calendar 2005 over calendar 2004. Found- The Image Deposit scanner makes a digital image of both ed by Raymond A. Lamb in 1998, 1st National Bank of Nevada is sides of each check, deposits are electronically credited to the part of a multi-state private enterprise. 1st National employs account, and then checks are digitally archived for future refer- more than 2,000 people and boasts assets of $3.7 billion, with a ence. The process uses advanced security features to protect strong interest in construction and mortgage financing. customer information. As a full-service, family-owned bank, 1st National Bank of The benefits of Image Deposit include: Nevada offers a comprehensive package of business and per- • Saves trips to the bank to deposit checks; sonal deposit and loan products. The bank’s commercial offerings • Extends the processing day with later deposit cut-off times; include a strong focus on real estate and construction lending for • Uses one bank for all deposits – regardless of business locations; developers and owner-users. Its Gaming and Specialty Finance • Incorporates advanced security features to protect information. Division focuses on a core Nevada industry. The bank’s Wealth “Business owners and their employees don’t have time to Management Group bridges commercial and consumer needs. come to the bank each day. We wanted to minimize the Mortgage operations provide services to both wholesale mort- ‘runaround-aphobia’ they experience.” said Bill Oakley, the gage brokers and the general consumer. bank’s market president. “This is just one of many innovative, One of the most recent introductions at 1st National Bank is time-saving services we have available for our clients. We ap- a new service that enables business customers to deposit checks preciate the confidence and support given us by the business without leaving their desks. Called Image Deposit, the service community and want to continue to add value in the communi- uses a secure high-speed Internet connection and a small desk- ties we serve.”
Ninth Annual Spotlight Awards
orporate Gateway I at Beltway Chapter President Ralph Murphy, winners have worked hard to raise the bar C Business Park and The Logisti- along with the Governor Kenny C. Guinn, and set the standard for the industry and Center CDW Build to Suit took hosted the event and presented awards we wish them success in the future.” “Best Building” honors this year at the in several categories. Corporate Gateway I at Beltway Busi- Ninth Annual NAIOP Spotlight Awards held “On behalf of the board of directors and ness Park was developed by Thomas & on April 1. The ceremony, held at Wynn Las members of NAIOP, I would like to con- Mack Development Group, designed by Vegas, brought together more than 750 gratulate the winners of this year’s Spot- KKE/HFTA Architects and built by Martin- professionals from the commercial real es- light awards,” Murphy said. “The Spotlight Harris Construction. The LogistiCenter tate industry to celebrate the best com- Awards honor individuals and companies CDW Build to Suit was developed by DP mercial real estate projects and industry for excellence in development and their Partners and designed and built by Unit- professionals of 2005. contributions to the community. This year’s ed Construction Company. 2006 Spotlight Awards Industry Award Recipients
DEVELOPMENT FIRM OF THE YEAR TRENDSETTER FIRM Marnell Properties Glen, Smith & Glen Development
GENERAL CONTRACTING FIRM OF THE YEAR PRINCIPAL MEMBER OF THE YEAR Martin-Harris Construction Rod Martin
BROKERAGE FIRM OF THE YEAR ASSOCIATE MEMBER OF THE YEAR Colliers International Suzette LaGrange
ARCHITECTURE FIRM OF THE YEAR OFFICE BROKER OF THE YEAR Dekker/Perich/Sabatini Charles W. Witters, SIOR
ENGINEERING FIRM OF THE YEAR INDUSTRIAL BROKER OF THE YEAR WRG Design, Inc. Kevin Higgins, SIOR SPONSORS
LUNCH SPONSOR Harsch Investment Properties
COCKTAIL PARTY SPONSOR Glen, Smith & Glen Development
GUIDEBOOK SPONSOR Coldwell Banker Commercial ETN
WATER BOTTLE SPONSOR Dekker/Perich/Sabatini, Ltd.
TOTE BAG SPONSOR Colliers International
LANYARD SPONSOR Centra Properties
SUB-MARKET SPONSORS Crescent Real Estate Equities, Ltd. DP Partners Huffman Builders West Panattoni Development SH Architecture
BUS SPONSORS CB Richard Ellis Community Bank of Nevada Crescent Real Estate Equities, Ltd. EJM Development Co. LM Construction Tower Realty Development, LLC Wells Fargo Bank
EXHIBITORS Affordable Concepts, Inc. Anchor Development City of Las Vegas City of North Las Vegas Commerce CRG / Cushman & Wakefield Commercial Alliance EJM Development Co. EMBARQ Grubb & Ellis | Las Vegas Harsch Investment Properties Haworth Lee & Associates Martin-Harris Construction McFadden Insurance Agency Nevada Business Journal Panattoni Development Company Southwest 1031 Exchange SR Construction United Construction Co. UNLV Lied Institute for Real Estate Studies Voit Commercial Brokerage WRG Design XO Communications Native Resources Nevada A Natural Approach to Development
hen future homebuyers walk vegetation, as well as rocks and boulders. through their brand new neigh- Next, the plants are placed into a nursery W borhoods at The Mesa in Sum- we’ve created on site.” merlin, they’ll see hiking trails, tranquil sur- Since uprooted plants immediately go roundings and aesthetically pleasing into shock, they must be carefully main- views. What they won’t see is the painstak- tained. Their roots are dipped into a special ing and time-consuming process it took to gel that slows the shock process, and each achieve that harmonious balance. one is then placed into a urethane dig bag, The Mesa, also known as Village 16 in the creation of a channel at the base of the known as a micro-climate. The plants are Summerlin, is located at the very end of mountain, which will protect residential de- fed nutrients with the goal of stopping their Tropicana Avenue, near Hualapai Way. De- velopment from water run-off. In addition, stress as quickly as possible. veloped by The Howard Hughes Corpora- native plant material and boulders had to be In general, most plant material will stabi- tion, the Summerlin community is situated removed to make way for homes and roads. lize in 30-45 days, and will appear to be on 520 acres, and will eventually include That’s where Native Resources Nevada (Na- much more vibrant by 60 days. Stanley 5,000 homes. Each neighborhood will have tive Resources) makes its mark. said some plants will be in the nursery for its own park and pool complex, along with up to a year before they can be returned to a 20-acre community park and the much- Restoring Natural Beauty the completed development, which is the anticipated new campus of Bishop Gorman third and most critical stage in the process. High School, slated to open in 2007. “It’s our job to restore nature,” said Jerry “If the weather doesn’t cooperate, it can im- In keeping with the community’s outdoor Stanley, president of Native Resources, pact the process,” said Stanley. “Some plants living and recreational flavor, its trail sys- which has been a full-service licensed and go into dormancy, and that plays a factor in tem will be extensive, eventually tying in bonded contractor for a decade. “It’s a very how and when they can be reintroduced.” with a proposed Clark County Trails Park precise and time-consuming process that Native vegetation must be planted in spe- that is planned for the top of the cliff-line is done in three stages. Prior to develop- cific locations, at certain elevations and in mesa along the western rim of the village. ment, we go in and carefully dig up the na- such a way as to emulate the natural land- But since the community is located at the tive plant material, such as creosote, Mo- scape. Rocks and boulders are also reintro- base of a hillside, construction necessitated jave yucca, white bursage and other duced. And although their placement is less
NEVADA BUSINESS JOURNAL ADVERTORIAL “When I tell people what we do, most will say they never knew we were there – that’s because we’re in and out, doing our best not to leave a trace.”
exacting, Native Resources experts often Experience Counts because we’re in and out, doing our best stain them with natural colorants so they not to leave a trace.” will blend naturally into the environment. Native Resources staffs more than 55 ex- Native Resources also offers arid land “This town is encroaching into the moun- perienced technicians in Las Vegas and restoration services to clients that in- tains and hillsides, and the higher you Reno, all sharing a common goal of pre- clude towns, cities and counties. The move, the more interesting the landscape serving the environment. Stanley said process ensures that conditions on a and life zones,” said Stanley. “For example, much of what his company does today was specific area of land are virtually the you won’t see any Joshua trees until you learned by trial and error. same before and after an ecological dis- reach an elevation of 3,000 to 3,500 feet.” “Prior to founding the company, I met a turbance. Components of this service man who did native re-vegetation of may also include plant restoration and Restorations Pays Off Saguaros in the Phoenix area. I learned a re-vegetation and even the replacement lot from him and applied that knowledge of native soils if appropriate. The benefits of native restoration are from the Sonora Desert to the Mojave Native Resources also works closely with immeasurable, including preserving the Desert. For desert plants, it’s literally sur- companies in the mining industry for recla- natural desert environment and delivering vival versus mortality,” said Stanley. “The mation and environmental consultation, an aesthetically pleasing product for fu- plants may live side by side and coexist, with the goal of restoring mining sites so ture residents. but each is very different. One may need a they conform to or exceed reclamation “The Howard Hughes Corporation and cup of water to survive; another may need goals and plans. our parent company General Growth Prop- five cups. Some tolerate intense heat bet- As Nevada continues to grow, expand erties have always had a strong steward- ter than others. They’re all different and and evolve, Stanley said Native Resources ship of the land,” said Tom Warden, vice they all have unique needs. The desert is a will be there to meet its clients’ needs, president of community and government surprisingly fragile ecosystem.” whatever those needs may be. relations for The Howard Hughes Corpora- In addition to corporate re-vegetation and “In today’s real estate market, there is no tion, developer of Summerlin. “We are cactus salvage and site removal/relocation, doubt that the climate is changing,” he keenly aware of the impact development Native Resources also provides its clients said. “You have to be flexible and open- can have on viewsheds and we routinely with a variety of related services, including minded. You can’t offer just one product work to reduce or eliminate them. “ environmental surveys and data collection. line or service. You must be able to adapt Warden says the company’s buildings are This is often the first stage in the process, and to work smarter, regardless of the size designed to blend with the environment, up as trained technicians perform an analysis and scope of a project. That’s what our to and including the use of colors that are of the proposed development, and plants clients have come to expect.” indigenous to the surrounding desert. Re- are assessed and catalogued to see which duced-glare streetlights are also used to ones are salvageable. cut down on light pollution at night. “The developer must go through a very “Along those same lines, we use Native Re- long and complicated process if its objec- Native Resources Nevada sources to restore areas of disturbed land to tive is to provide an aesthetically pleasing 6420 Cameron St., Ste. 207 a natural condition,” said Warden. “This may environment. The Howard Hughes Corpora- Las Vegas 89118-4339 include restoring native plant materials, as tion could have just as easily put in some 702-873-2023 well as coloration of rocks or soil surface to rocks and disposed of native vegetation. Reno Office: blend into the landscape. It is difficult, to say But they believe in the concept of native 430 Stoker Ave., Ste. 200 the least, to restore and re-vegetate land here restoration, and as a result, they have a in the Mojave, the driest desert in North fine product that truly does lend itself to Reno, NV 89503 America. Native Resources is a recognized outdoor living and recreation,” said Stanley. 775-324-5547 expert in this very challenging field. But that’s “When I tell people what we do, most will www.nativeresourcesnevada.com what these guys do and they do it well.” say they never knew we were there – that’s
NEVADA BUSINESS JOURNAL ADVERTORIAL Investment Equity Development Seven Projects Featured on Bus Tour
his year’s NAIOP Bus Tour will ings for sale or lease, and 15,000 square Cheyenne Ave. west of Durango. A 60,000- T feature seven of the most re- feet of retail pad space. square-foot office/retail development for cent office and mixed-use pro- The Northwest Submarket is one of the lease, its two-story office building features jects being built by a locally-owned com- fastest-growing areas in Southern Nevada, balconies and patios overlooking the Duran- pany, Investment Equity Development responding to a rapid increase in population go Hills Golf Club and private putting greens, (IED), which is currently developing ap- and the demand for services. IED is develop- making it the only local office project located proximately 600,000 square feet of new ing Cheyenne Fairways Business Center on directly on a golf course. office, industrial and retail space in the Val- ley. David Inman and Dale Dowers, co- owners of the company, said IED’s success has resulted from two main factors: first is site selection, with emphasis placed on high-visibility sites on major arterials in growth areas; second is the company’s ability to manage a project from land ac- quisition to completion. In the Airport Submarket, IED recently completed McLeod Business Centre, an 84,000-square-foot, mixed-use office/warehouse park offering eight office buildings and eight office/warehouse buildings for sale. In the booming Southwest Submarket, IED has no fewer than four ongoing pro- jects, all located on major streets. Rainbow Corporate Center, an 87,000-square-foot office project, consists of 12 office buildings for sale, with units ranging from 2,500 to 15,000 square feet. South Rainbow Busi- ness Park, located just 1/2 mile from Spring Valley Hospital, is a two-building develop- ment totaling 44,000 square feet of offices for lease. Construction on Spanish Trail Business Park, at the busy intersection of Rainbow Blvd. and Tropicana, is nearing completion.The 76,000-square-foot project will contain a 10,000-square-foot retail building and 11 professional buildings for sale in an office campus setting. IED’s newest project in the southwest is the 74,000-square-foot, two-story Cop- per Pointe Business Park, fronting the I- 215 Beltway between Sunset and Russell. This high-visibility, upscale two-building office park will offer units for sale in sizes ranging from 2,500 to 37,000 square feet. On the west side of town, Stone Canyon Professional Park is scheduled for completion prior to year’s end. The mixed- use project, located on West Sahara at Tenaya, will offer single-story office build- American Nevada Company Expands Commercial Development
planning and approval process for the development, with ground breaking ex- pected to begin sometime during fourth quarter of 2006. Adjacent to The District is Bella Vista at Green Valley Ranch, a private, gated condominium neighborhood. This conversion project from Ameri- can Nevada Company offers prospec- tive homebuyers townhome-style liv- ing, with affordably priced condominiums. Amenities at Bella Vista include an upscale community clubhouse with a fitness center, screening room, library, business cen- ter with wireless Internet access, two pools and a spa. The District, Green Valley Ranch Resort, Spa and Casino and the City of Henderson’s Liberty Pointe are all within walking distance. he highly successful District American Nevada Company is T at Green Valley Ranch, Hen- also developing Aliante MarketPlace, derson’s premiere shopping, Aliante Corporate Center and Aliante dining and entertainment destination, Medical Center in the heart of Aliante, has recently completed construction of the fastest-selling master-planned the Phase II expansion. The second community in the Las Vegas Valley. phase of The District – featuring The Aliante MarketPlace is a 20-acre Cheesecake Factory, Whole Foods center offering 171,900 square feet of Market, West Elm, Coach and other retail space anchored by a Smith’s fine boutiques, specialty shops and Food and Drug. Aliante Corporate Cen- dining establishments – is located on ter features three two-story office the east side of Green Valley Parkway buildings in a 6.54-acre office park at I-215, directly across the street site near the southeast corner of I-215 from the original development. and Aliante Parkway. The first two Consisting of six buildings, the buildings have recently been complet- new section will provide an additional ed, each offering 27,725 square feet 104,500 square feet of lifestyle-retail of office space. Aliante Corporate product and 51,300 square feet of of- Center is located just north of the fice-over-retail space. The District community’s 20-acre Nature Discov- Trolley Company provides compli- ery Park and adjacent to the Aliante mentary shuttle service between both Information Gallery. phases of The District. Aliante Medical Center, a 54,400- Future plans at The District in- square-foot medical office building, is clude an upscale neighborhood devel- in the planning stages. JMA Architec- opment of approximately 400 brown- ture Studios is the architect and Mar- stone-style homes, set in an intimate tin-Harris Construction is the general neighborhood environment, creating a contractor. The building is planned to unique metropolitan lifestyle within accommodate a variety of offices for walking distance to The District and urgent care, outpatient surgery, diag- surrounding amenities. American nostic imaging, women’s care, physi- Nevada Company is currently in the cal therapy and physicians. Cox Communications Now Offering Telephone Service
ne of the leading U.S. telephone As cable companies like Cox aggres- The study, which measures customer O companies is not an offshoot of sively entice telephone customers with at- satisfaction with both local and long dis- Ma Bell. It’s actually the same tractively priced service bundles, many are tance telephone service, finds that cable company that delivers high-speed Internet also outperforming traditional telephone companies rank highest in customer satis- connectivity and digital television service companies in satisfying customers, accord- faction in five of six U.S. regions. From to over 410,000 customers in Southern ing to the J.D. Power and Associates 2006 2003 to 2006, Cox Communications has Nevada. In fewer than 10 years, Cox Com- Residential All-Distance Telephone Cus- received five Highest Honors awards from munications has risen from pioneering tomer Satisfaction Study released in July. J.D. Power and Associates. cable telephone service in Orange County, Calif. to staking its claim as the largest cable telephone company in the nation. With upgrades made over the past decade, cable companies like Cox, a multi- service broadband communications and entertainment company with nearly 6 mil- lion business and residential customers, have the ability to offer digital-quality tele- phone service over the same broadband pipe that carries video and high-speed data into homes and businesses. As a re- sult, cable operators have launched the formerly monopolistic telephone industry into a competitive digital age. Late last year, Cox rolled out Cox Digital Telephone in metropolitan Las Vegas. Since then, Cox Business Services (CBS), a division of Cox, has been providing a digital dial tone to the Valley’s business community in addi- tion to its existing video and data solutions. “We’re a phone company now,” said David Blau, vice president and general manager of CBS for the Southern Nevada area. “We’re no longer simply a cable company, but a provider of advanced voice, video and data communications services with telephone solutions to meet needs ranging from a resort property with more than 5,000 guest rooms to a small business with 25 employees or a modest home-office requiring one or two lines.” The company offers business-grade local phone service designed to manage the full range of voice needs for business. It also provides PRI service, a reliable and secure communications solution that con- nects a PBX system directly to the public switched telephone network. With Cox Digital Telephone, customers can also take advantage of flexible packaging options, a complete array of calling features, and op- tional Cox Voice Mail services. Southern Nevada’s Office Real Estate Market Outlook Remains Cautiously Optimistic
By John Restrepo
Corporate Gateway I at Beltway Business Park won Best Office Building at NAIOP’s 2006 Spotlight Awards.
he Las Vegas Valley (“the Val- Medical space. The largest increase was concentrated in the Southwest, North- T ley”) spec office market has in Class C office space, where vacancy west, Airport and Henderson. performed moderately well so rose by 1.3 points, from 9.1 percent to Net office absorption increased in far in 2006, by absorbing much of the re- 10.4 percent. Q2, 2006 to 800,837 SF, from 321,371 cently completed space, resulting in an Overall, the Valley’s average monthly SF in Q1. Unfortunately, it did not sur- absorption-to-completion ratio of .78:1, asking rent increased to $2.20 PSF in Q2. pass new completions, resulting in the and only a slight increase in the vacancy Average asking rents rose in Downtown, previously noted net absorption-to-com- rate. However, according to our 2nd quar- East Las Vegas, Henderson, North Las pletion ratio of 0.78 square feet of de- ter figures, there are almost 3.4 million Vegas, Southwest and West Central sub- mand for every one foot of space com- SF of office space under construction, markets. They declined in the Airport and pleted. Also, Q2, 2006 absorption was and another 3.6 million SF of planned Northwest submarkets. Class A and C office slightly lower than it was in Q2, 2005, space, both of which could potentially space saw a rise in average asking rents, when 875,153 SF were absorbed. It is lead to increased vacancies in late 2006 while Class B and Medical saw declines. unclear whether net absorption will sur- and into 2007. Office completions in Q2, 2006 to- pass new completions next quarter, The Valley has seen substantial taled 1,018,036 SF, a dramatic increase since the 1.6 million square feet of new growth in the spec office market in the from 240,045 SF in Q1. Most of this new office space scheduled for completion in past few years. At the end of second office space was located in the South- Q3 is still approximately 65 percent va- quarter of 2006, the Valley office market west submarket (767,487 SF), followed cant. The implication is that the Valley’s consisted of nearly 32.4 million SF. The by Henderson (149,926 SF), Northwest spec office market may soften during market has grown by 14.4 million SF (79,928 SF) and North Las Vegas (20,695 the next four to six quarters. since Restrepo Consulting Group LLC SF). No new office space was completed Class C space saw the largest net and Colliers International jointly began to in the Airport, Downtown, East Las Vegas absorption in Q2, followed by Class A, track the market in 1999 (RCG has or West Central submarkets this quarter. Class B and Medical. Most of Q2’s ab- tracked the office market since 1990). By product type, most completions in Q2 sorption was in the Southwest, followed Class C makes up the largest component were in Class C (631,324 SF), followed by by Henderson and Northwest. of this space at 36 percent or 11.7 million Class B (280,512 SF) and Medical In conclusion, the Valley’s spec office SF, followed by Class B (33 percent at (106,200 SF). market remains healthy, but there are 10.7 million SF), Medical space (19 per- Forward supply (the combination of some signs of weakening for the remain- cent at 6.2 million SF) and Class A (11 space presently under construction in a der of 2006 through 2007. percent at 3.6 million SF). quarter and space planned to begin con- The Valley’s spec office market expe- struction within the next 4 quarters) in- John Restrepo is the founding principal of rienced its first rise in vacancy in four creased slightly in Q2 over Q1, rising to Restrepo Consulting Group LLC, which quarters, increasing from 8.4 percent in 7,024,706 SF. Of this amount, 48.2 per- provides information, research and Q1 to 8.8 percent in Q2, 2006. On a prod- cent was under-construction, represent- strategic advice related to the economic, uct basis, vacancy dropped in Class A ing approximately 10.5 percent of the ex- demographic and real estate develop- space, and rose in Class B, Class C and isting inventory. Forward supply was ment of Nevada and the Southwest. Perkowitz+Ruth Architects Balance Stimulates Good Design oday’s developers want to create a complete experience and The Park at Warm Springs. More recently on the boards are The T – environments that promote users’ needs with sophisti- Park at Spanish Ridge II and Yaletown – a 240,000-square-foot low- cation and functionality. But the rising value of land, along rise office building park within a mixed-use development, currently with intensified competition in most markets, continue to increase in schematic design and expected to be completed by 2008. the competitiveness to create unique yet profitable environments. “We encourage a family atmosphere in our office and in our The challenge is to find a perfect balance that allows devel- business practices, which I believe benefits our client relation- opers and consultants to meet goals in an efficient, time-sensi- ships,” said McCutchen. “It is extremely satisfying to complete tive and cost-effective manner. As the stabilizing force that uni- projects in this manner and share this type of success with com- fies the worlds of design, business and community, balance is an panies like Glen, Smith & Glen and SR Construction.” approach to client relations and project implementation in which Producing cost-effective, functional and creative design project teams work to find creative and innovative solutions that solutions structured to each client’s special requirements be- reduce costs and maintain value. comes a delicate balancing act, but if achieved correctly, this “Effective collaboration is the key to any successful pro- collaboration leads to great project success. ject,” said Deborah McCutchen, director of the Las Vegas office As winner of the 2005 NAIOP Spotlight Award for Best Free at Perkowitz+Ruth Architects. “At P+R Architects, every member Standing Garden Style Small Office Park, The Park at Warm of our project team engages in problem-solving throughout the Springs best exemplified this, as the project was 100 percent creative process. Our success is due to the collaborative rela- sold out just three months after construction was completed. tionships we foster with our clients.” With more than 27 years of proven experience, the projects of Alongside developers and contractors such as Glen, Smith & P+R Architects range from office parks, single-tenant retailers and Glen Development and SR Construction, this perfect balance has community shopping centers, to mixed-use and urban developments, produced several successful office developments in the Las Vegas to entertainment and hospitality destinations. This collaborative ap- area, including The Park at Spanish Ridge, The Park at North Pointe proach is present throughout the company’s six regional offices.
“BUILDING ON SOLID GROUND SINCE 1960” 376 E. Warm Springs Road, Suite 160 Las Vegas, NV 89119 www.oakviewconst.com (702) 873-6399 Fax: (702) 873-6690
Liberace Museum
Bennett Professional Development Center BRONZE NAIOP Southern Nevada Chapter Affordable Concepts, Inc. 2006 PRESIDENT’S BankWest of Nevada CIRCLE SPONSORS Bergelectric Corporation Burke & Associates, Inc. Capmark Financial PLATINUM Carson Taylor Construction, Inc. CB Richard Ellis Dekker / Perich / Sabatini, Ltd. Cox Communications EMBARQ Fidelity National Title Agency of Nevada, Inc. Marnell Properties G.C. Wallace, Inc. Southwest Gas Corporation Grubb & Ellis | Las Vegas Harsch Investment Properties, LLC GOLD Helix Electric Bank of America Nevada KKE / HFTA Centra Properties, LLC Industrial Property Group EJM Development Co. Jaynes Corporation Majestic Realty Co. Plise Companies, LLC Juliet Property Company Roel Construction Company, Inc. The Korte Company Thomas & Mack Development Group Lee & Sakahara Architects Martin & Martin Civil Engineers and Surveyors SILVER Martin-Harris Construction Co. American Nevada Company The Molasky Group of Companies Colliers International Nevada Power Company Community Bank of Nevada Real Estate Group Nevada LLC DP Partners Nevada Title Company Glen, Smith & Glen Development Opulence Studios Inc. Jackson Shaw Company JMA Architecture Studios Panattoni Development Company L M Construction Co., Inc. Perlman Design Group LaPour Partners, Inc. ProLogis Lee & Associates Roche Constructors, Inc. Marcus & Millichap Southwest Engineering Olympia Development Corporation SR Construction, Inc. Shea Commercial Stoltz Management Stanley Consultants, Inc. Strata Building Group, LLC Summit Builders of Nevada Terracon Switch Communications Group Tradewinds Construction Trammell Crow Company TWC Construction, Inc. WESTAR Architects United Construction Company WPH Architecture, Inc. Voit Commercial Brokerage WRG Design, Inc. Wells Fargo Bank XO Communications 2006 Officers, Directors and Committee Chairs
EXECUTIVE COMMITTEE DIRECTORS OTHER COMMITTEE CHAIRS President Director, Membership Committee Chair, Ralph Murphy 2006 Spotlight Awards Committee Chair Communications Committee Chair Marnell Properties Sallie Doebler Guyan Long United Construction Co. TitleOne President-Elect, Director Government Affairs Committee Chair Programs Committee Chair Dan Doherty Ellie Shattuck Tony Dazzio Colliers International Burke & Associates Martin-Harris Construction Director Immediate Past President Kevin Higgins Education Committee Chair R.R. “Casey” Jones Voit Commercial Brokerage Kyle Nagy GMAC Commercial Mortgage Summit Builders of Nevada Director Suzette LaGrange Bus Tour Committee Chair Treasurer, Finance Committee Chair Colliers International Robert A. “Tim” Snow, Jr. Chris Larsen Thomas & Mack Development Group Director Dekker/Perich/Sabatini Jeff LaPour Secretary LaPour Partners, Inc. Community Service Committee Chair Flora Jackson Barbara Demaree Director Southwest Gas Corporation BusinessCoach.com Michael Newman Trammell Crow Company Director, Sponsorship Committee Chair Rod Martin Director, Golf Tournament Chair Majestic Realty Co. Lee Phelps Nevada Real Estate Group Chapter Executive Director, Industry Trends Katrina Ferry Director Committee Chair John Restrepo Rick Myers Restrepo Consulting Group Thomas & Mack Development Group BENEFITS OF MEMBERSHIP
Legislative Voice working opportunities with more Through our Government Affairs than 150 individuals involved in the Committee, we are able to educate Southern Nevada Commercial Real our members about the issues that Estate Industry. most affect them. Also, golf tournaments are held in National Exposure the spring and fall, offering a fun the Spotlight Awards program, We are part of a national organiza- and enjoyable networking opportu- member companies, projects as tion with exposure to educational nity, and an Annual Fall Bus Tour well as individuals are recognized forums and networking opportuni- showcases new developments in by their peers. ties on a national level. the Las Vegas area. Social Local Exposure Our chapter holds monthly break- Education Our members can expose their fast meetings featuring presenta- With five events each year, these companies through our sponsor- tions by experts on topics affecting programs and seminars are de- ship opportunities and events to the commercial real estate industry signed to help you maximize your attain greater visibility. Through and offering our members net- professional development and business opportunities.
Charity community involvement - NAIOP members believe the key to a suc- cessful community is in giving back Some Things in Life to its' neighbors and making a dif- Demand Total Expertise ference in the growth of the Las A Commercial Real Estate Transaction is One of Them Vegas Valley. Discover why less than 1% of the world’s commercial real estate professionals hold the coveted Certified Commercial Investment Member designation. To contact a CCIM expert in your market, Chapter Activities call 1-800-577-4689 or visit www.ccim.com Our members can get involved in a Site Selection • Development • Brokerage number of committees to help ex- Leasing • Valuation • Investment Analysis pand their own membership. These LOCAL CCIM DESIGNEES Gary Banner Moe Ehsan Lillian Jennings Mike Pearce include: Program Committee, Golf Larry Brittain Deirdre Felgar Cathy Jones Jack Rappaport Brian Cahane Sandy Fink Soozi Jones Walker Robert Reel Tournament Committee, Education Lisa Callahan Robert Gardner Aggie Knoblock Christina Roush Miriam Campos-Root Frank Gatski Devin Lee James Smith Committee, Bus Tour Committee, Kent Clifford Bill Gaylor Vickie Lehr Lucinda Stanley Carol Cline-Ong Lisa Gilstrap Drew Levy Kathy Stubbs George Connor Lennard Grodzinsky Charlie Mack Gene Trowbridge Government Affairs Committee, Garry Cuff Andy Hantges Bobbi Miracle Al Twainy Carolanne Doherty Greg Hartline Barry Moore Scott Wallat CREPAC (Commercial Real Estate Glenn Dulaine Jan Hoback Susanne Moore George Warner Michael Dunn Steve Hoopes Tom Naseef James Weld Political Action Committee), Keith Easton Alberto Jauregui Ron Opfer Jack Woodcock Experts in Commercial Investment Real Estate Newsletter Committee and the Spotlight Awards Committee.
Our members do business with members! ROEL Construction Roeling Along in 2006
OEL Construction’s Las Vegas office is well on its way San Diego with technology giant QualCOMM, Incorporated. R to another record-setting year. When ROEL first opened QualCOMM is building a Secure Network Operations Center on its Las Vegas office in 1993, the company had already a 32-acre campus along the Cheyenne Technology Corridor in existed for more than three-quarters of a century providing qual- North Las Vegas. ity construction services. Since that ROEL employs more than time, this fourth-generation, family- 350 people between its San owned business has built some of Las This fourth-generation, family-owned Diego headquarters and offices Vegas’s most highly visible projects, in Irvine, Palm Springs, Las including country clubs at Red Rock business has built some of Las Vegas’s Vegas and Laughlin. The com- and Anthem, sports/athletic clubs and pany has received numerous a community center at Siena, 24 Hour most highly visible projects, awards, including the American Fitness at McCarran International Air- General Contractor of the Year port, innovative automotive dealer- (seven times) and the Large ships such as Towbin Hummer and Cadillac of Las Vegas West, General Contractor of the Year from the American Subcontrac- and numerous office tenant improvement projects, including tors Association (eight times). This year, McGraw-Hill’s Engi- Boyd Gaming, National University, Boulder City Theatre, US Bank, neering News-Record, considered the Bible of the construction and JW Marriott. industry, ranked ROEL at 186 among the nation’s 400 largest ROEL recently completed construction of the Laughlin general contractors, based on its 2005 construction revenues. Ranch clubhouse in Bullhead City, Ariz. The 35,000-square-foot ROEL Construction has become one of the largest indepen- clubhouse features a grill and dining area, golf shop, salon, fit- dent general building contractors in the western United States. It ness center and spa with an outdoor pool. The Las Vegas office provides general contracting services as well as tenant improve- is also extending the long-time relationship ROEL has had in ments, structural concrete and forensic consulting services. Crescent Real Estate Expanding Hughes Center Offerings rescent Real Estate Equities, Ltd. is one of the largest exemplify the Hughes Center tradition of providing first-class C real estate investment trusts (REITs) in the United office space in an amenity-rich environment. 3883 Howard States. The REIT owns and manages a portfolio of pre- Hughes Parkway will feature 11 floors with spectacular Valley mier office buildings primarily located in Dallas, Houston, Austin, views, efficient rectangular floor plates, the finest architectural Denver, Miami and Las Vegas, where it acquired the Hughes Cen- design features and state-of-the-art technology, in an environ- ter portfolio in late 2003. World-class resorts and spas, select mentally conscious setting. business-class hotels and upscale residential developments Crescent’s leadership team believes in investing in the round out the REIT’s real estate holdings. communities in which they work and play. Crescent’s FACES of What attracted Crescent to the Las Vegas market is not only Change program, created in 1997, partners Crescent properties the quality of the Hughes Center with elementary schools in need. In assets, but also the historical and each of its markets, Crescent em- projected performance of the Demand for office space has continued ployees, customers and business market. Las Vegas has been the to climb, with Hughes Center currently partners volunteer time and donate only major market in the country money and in-kind gifts to assist to experience over 20 consecutive 96 percent leased. schools. Hughes Center has part- years of positive office absorp- nered with Lewis E. Rowe Elemen- tion. Since the acquisition of Hughes Center, demand for office tary for its Las Vegas FACES of Change initiative. space has continued to climb, with Hughes Center currently 96 Hughes Center is conveniently located between McCarran percent leased. International Airport and the Las Vegas Strip. Top-rated restau- To capitalize on this demand, Crescent is currently building rants such as Del Frisco’s, McCormick & Schmick’s, Lawry’s, a new Hughes Center office tower, 3883 Howard Hughes Park- Gordon Biersch Brewery, Cozymel’s, Bahama Breeze and Hama- way, comprising 240,000 square feet. The new office tower will da of Japan are located within the complex.
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Find these features and more on the Web at NBJ.com. Burke & Associates, Inc. Proud of Ties to NAIOP
fter 22 years in business, Burke Kevin Burke earned his degree in A & Associates is recognized as mechanical engineering from Kansas one of the top general contrac- State University, with a minor in business tors in Southern Nevada. The company’s management. Burke began his career experience spans a broad range of suc- with Procter & Gamble as a construction cessfully completed projects, including manager prior to joining Burke & Associ- public works, retail, hotels, office, manufac- ates in 1989. He is a member of the turing, warehouses, banks and churches. Young President’s Organization, Legatus, Burke & Associates was honored as Junior Achievement of Southern Nevada General Contracting Firm of the Year at the and the UNLV Foundation-Academic Cor- 2005 NAIOP Spotlight Awards. “I was at poration Council and holds positions in once humbled and honored by this various professional organizations, in- award,” said Kevin Burke, the company’s cluding NAIOP and the Nevada Develop- president and CEO. “We have received ment Authority. many accolades over the past 20 years, A former lobbyist, Dazzio was previ- but this is the most meaningful, as we ously executive manager of business plan- were judged by Southern Nevada’s devel- ning and growth at Nevada Power Compa- opment community.” directors. Tony is currently chairman of ny. After attending UNLV, where he studied “We are extremely proud of our affili- the Governmental Affairs committee and marketing, he later graduated from Har- ation with NAIOP and that Tony Dazzio, our president-elect for the Southern Nevada vard Law School’s Program on Negotia- senior vice president, is on the board of Chapter of NAIOP.” tion. Dazzio is a member of the Las Vegas Chamber of Commerce, the Nevada Devel- opment Authority, the Henderson Develop- ment Authority and the North Las Vegas Chamber of Commerce. Burke and Associates continues to play a leading role in helping shape the Southern Nevada landscape, with a di- verse list of completed projects dotting the Las Vegas Valley. Some of the firm’s clients include Territory Inc., Peccole Nevada, Focus Commercial Group and Christopher Commercial. Current projects include: the Avi Re- sort and Casino Expansion, a $25 million project that includes a 700-car parking garage, swimming pool, 25,000-square- foot casino expansion, 25,000-square-foot ballroom and other extensive renovations; Parkway Pointe Office Building, a Christo- pher Commercial Development project in Summerlin that includes new construction for a 54,000-square-foot Class A office building with a subterranean parking garage, as well as several construction projects for Territory Incorporated, includ- ing the 98,000-square-foot Centennial Gateway retail center.
Martin-Harris Construction Thirty Years of Building Las Vegas
artin-Harris Construction re- “The one-on-one formula of Projects in progress include: Tahiti cently celebrated its 30th year M dealing with clients must Village Phase 2, Boca Rotan Luxury Con- in the construction business. dominiums, Marcello’s Business Park, The company has grown from $5 in the work, because repeat business Streamline Tower, Varian Medical Sys- bank and four associates to $240 million from clients has been very tems, Harrah’s Corp. Hangers, Jet Hang- dollars worth of work in 2005 and 400- positive, and Martin-Harris is ers and Arroyo Office Bldg. 1 & 2. plus associates. “The job sites have honored to build more than Due to the demands in the fast- changed greatly through the years, but one project for a client.” growing community, Martin-Harris has the client relationships remain the developed another area of expertise, same,” said founder and President Frank Special Projects. This department builds Martin. “Martin-Harris strives to deliver Stoltz Management Company, Insight De- tenant improvements for clients. Exam- the best to each project. The one-on-one velopment, Consolidated Resorts, Del Webb ples of completed projects include: formula of dealing with clients must and The Howard Hughes Corporation. Longford interior medical offices; Sierra work because repeat business from Completed Martin-Harris projects Medical Center (projects within the com- clients has been very positive, and Mar- include Beltway Business Park G2, Tahiti plex and upgrade of building systems, tin-Harris is honored to build more than Village Resort Phase 1, Palm Court Busi- radiology, pharmacy and medical suites); one project for a client.” ness Center (14 buildings), Manhattan Green Valley Ranch Café; H2O; Aerosols; A sampling of the company’s clients Condominiums, Fiesta Henderson addi- Timberland; Jose’ Eber Hair Salon; includes: American Nevada Company, tion, FedEx Ground Henderson, WMS Beachers Rock House; Citi Bank Alante; Thomas and Mack Development Group, Gaming and G&K Services. Hennessey’s Tavern; and Mickit Finnz. Martin pointed out that safety is an- other factor that is highly regarded at Martin-Harris, and the company’s safety crew is constantly emphasizing the im- portance of safe working conditions and honors safe work practices. It conducts safety seminars on a routine basis and has received 17 Safe Site Awards from Associated General Contractors of Las Vegas over the last nine years. Martin Harris Construction encour- ages associates to be active in commu- nity, as well as job-related organiza- tions. A sampling of organizations served includes: NAIOP, Opportunity Vil- lage, SafeNest, AGC, CCIM, Boy Scouts of America, City of Hope, Muscular Dys- trophy Assoc., AIA, DBIA, SIOR, local Chamber of Commerce organizations, UNLV Foundation, CCSN Foundation, UNLV’s Lied Institute of Real Estate Stud- ies and PAL. The economic growth of the compa- ny reflects its recognition and ratings. Martin-Harris is ranked 157 in The Top 400 Contractors in the nation by Engi- neering-News-Record and has been list- ed since 1996. TitleOne Las Vegas A Different Kind of Title Company
itleOne Las Vegas is a title and escrow company owned have a piece of the pie has been the leading cause of its suc- T by Nevada residents as well as TitleOne team mem- cess in the Valley,” said Proctor. “This is a business model that bers. The company was founded in 2005 by a small has proven to be successful in other industries. It brings em- group of local entrepreneurs who wanted to build a “different” ployees together for one common goal.” kind of title company. They all TitleOne of Las Vegas is a agreed on a simple concept; they sister company of TitleOne Corpo- wanted to become a part of the TitleOne is one of a few employee-owned ration, headquartered in Boise, American Dream by providing inno- Idaho. Now serving two locations – vative and superior service, hiring companies in Las Vegas. Each team Las Vegas and Green Valley – Ti- the best professionals in the Valley, member is also an owner of the company. tleOne is one of the first title com- creating a fun, friendly work envi- panies to offer products and ser- ronment and letting the team vices online and continues to lead members own the business. the industry in developing cutting-edge technology. TitleOne is one of a few employee-owned companies in Las Under the direction of CEO Mark Tidd, the company has grown Vegas. Each team member is also an owner of the company. To- and now services real estate professionals throughout the entire gether they bring a combined expertise spanning more than a Las Vegas Valley with offices in both Summerlin and Henderson. century of knowledge in real estate and related industries and The company, which started out with 19 people, currently share an unparalleled dedication and drive. As of October 1st, Ti- has 37 team members who specialize in all aspects of the title tleOne will be led by newly named president and industry veteran industry, including title insurance, builder and developer ser- David Proctor, previously of Old Republic in Southern California, vices, commercial services, document recordation, document where he oversaw a six-county region. research, document retrieval, escrow closing services and “TitleOne’s philosophy of teamwork and letting everyone property information reports.
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Affordable Concepts, Inc. Grubb & Ellis | Las Vegas R & O Construction American Asphalt & Grading Co. Harris Consulting Engineers R L Moore & Associates American Nevada Company Harsch Investment Properties, LLC R2W, Inc. AmPac Development Company Hatcher Constuction Company RBF Consulting Anchor Development Haworth, Inc RDB Development Apex Industrial Park Hedley Construction & Development RDS Associates, LLC Applied Analysis Helix Electric RE/Max Extreme ARGO Corporation Heller Companies Realty Advisory Group, Inc. Assurance Ltd. Henriksen/Butler Design Group Restrepo Consulting Group LLC Aztec Engineering Huffman Builders West RG Group Bank of America Nevada Indigo Architecture, Inc. Rhapsody Partners Bank of Nevada Indigo Rock International Rice Silbey Reuther & Sullivan, LLP Barker Drottar Associates, L.L.C. Industrial Property Group RMI Investment Services Bergelectric Corporation Insight Holdings, LLC RMS McGladrey BFB Enterprises, Inc. J.D. Construction, Inc. Robert Bein, William Frost & Associates Big Sky Development, Inc. JMA Architecture Studios Roche Constructors, Inc. Blue Heron Joel Laub & Associates Roel Construction Company, Inc. Blue Heron Joel Laub And Associates Romano Realty, Inc. BNA Consulting Engineers Johnson Jacobson Wilcox Sansone Companies Bond St. Properties JPG Insurance Schiff Development Brooks Corporation General Contractors Juliet Land Company Scott L. Baker Architect , Inc. Builders Capital, Inc Kaercher Campbell & Associates SH Architecture Burke & Associates, Inc. Kalb Construction Company Shea Commercial Burnham Real Estate KeyBank Sierra Health Services, Inc. Business Bank of Nevada Keyon Communications, LLC Silver State Bank Business Bank of Nevada Kimley-Horn & Associates, Inc. Sletten Companies of Nevada Inc. Business Community Capital Kitchell Contractors Snell & Wilmer, LLP Business Properties Group KKE / HFTA Architects Southern Nevada IBEW/NECA - LMCC BusinessCoach.com Kummer Kaempfer Bonner & Renshaw Southwest Engineering BusinessSuites L M Construction Co., LLC Southwest Exchange Corporation Capmark Finance, Inc. Land America Financial Group Southwest Gas Corporation CapSource Inc. Land Baron Investments Southwest Title Company Carpenter Sellers Architects Landry & Associates, Inc. Spectrum Surveying & Engineering Carson Taylor Construction, Inc. Langan Engineering & Environmental Services SR Construction Cartmill Rogers Construction Company LaPour Partners, Inc. SSA Architecture CB Richard Ellis Las Vegas Development Company, LLC Stanley Consultants, Inc. Centex Destination Properties Law Office of Garry L.Hayes Stewart Title of Nevada CENTRA Properties, LLC Ledcor Construction Inc Stoltz Management Centra Realty Corporation Lee & Associates Strata Building Group, LLC Chicago Title Lee & Sakahara Architects Summit Builders of Nevada Christopher Commercial LND Construction Sunland Asphalt CIP Real Estate Longford Group, Inc. Switch Business Solutions City National Bank Majestic Realty Co. Tate Snyder Kimsey Architects Clark Construction Group, LLC Marcus & Millichap Terra West Realty CNS Marine Bank Terracon Coldwell Banker Commercial ETN Real Estate Services Mark IV Capital TerraSpec Development Colliers International, Inc. Mark L. Fine & Associates Territory Incorporated Commerce CRG/Cushman & Wakefield Alliance Marnell Properties The Bentley Group Real Estate Advisors Commercial Roofers, Inc. Martin & Martin, Inc. The Business Press Community Bank of Nevada Martin-Harris Construction Co. The Curve Development Company LLC Conde Del Mar Properties MassMedia The Gilmore Company Construction Consultants. Inc. Matt Construction, LLC The Howard Hughes Corporation CORE Construction McCarthy Building Companies, Inc. The Korte Company Cornerstone Company McDonald Carano Wilson LLP The LINCService Co. Correre Casa, LLC / Bodega Business Park McFadden Insurance Agency Inc The Molasky Group of Companies CORT Business Services Metro Commercial Properties The Penta Building Group, Inc. Cox Communications Midfirst Bank The Ribeiro Corporation Crescent Real Estate Equities, Ltd. Mitch Ogron, Ltd. The WLB Group, Inc. Dekker/Perich/Sabatini, Ltd. MWT - Ofra Architecture Thomas & Mack Development Group Desert Community Bank Nadel Architects Inc. Ticor Title of Nevada DFD Architecture NAI Horizon TitleOne Diversified Communications Solutions, Inc. Nevada Business Journal Tower Realty & Development. LLC Diversified Realty Nevada Federal Credit Union Town & Country Bank DP Partners Nevada First Bank Tradewinds Construction DSA Development Nevada Pacific Realty Capital Trammell Crow Company Dwyer - Curlett & Company Nevada Power Company TRC Dynamic Commissioning Solutions, Inc Nevada Real Estate Group LLC/ Mission Completed Contrac- Trident Property Management, Inc. EJM Development Co. tors TWC Construction, Inc. Embarq Nevada Title Company United Construction Company Equity Advisors Group Nigro Development USA Commercial Mortgage Company Equity Title of Nevada Oakview Construction Valley Bank Ernst & Young LLP Oakwood Corporate Housing Venture Corporation ESG Construction Consultants Office Furniture USA Voit Commercial Brokerage Ethos/Three Architecture OGI Evironmental, LLC Walter P. Moore Fair, Anderson, & Langerman Olympia Land Corporation Wells Fargo Bank Fidelity National Title Agency of Nevada, Inc. OneCap WESTAR Architectural Group/NV, Inc. First American Title Co. of Nevada Opulence Studios Inc. Western Realco First National Bank of Nevada O'Reilly & Ferrario, LLC Western Risk Insurance FKC Properties, Inc. Orgill/Singer & Associates Western Technologies Inc Flagship Construction Co. Orion Engineering & Surveying, Inc. Westland Enterprises Fluoresco Lighting & Signs P G A L Westland Enterprises G. C. Garcia Planning & Development Services Panattoni Development Company Whiting-Turner Contracting Company Gensler of Nevada Parker Scaggiari Windermere Commercial Geotechnical & Environmental Services, Inc Parsons Behle & Latimer WPH Architecture. Inc GeoTek, Inc. Peccole Nevada Corporation WRG Design Inc. Glen, Smith & Glen Development Perkowitz & Ruth Architects Young Electric Sign Company Golden City Mortage Perlman Architects, Inc. Zions Small Business Finance Greenberg Traurig Progressive Roofing d.b.a. Progressive Services Inc. Griffin Realty Corporation ProLogis
Embarq Provides Integrated Communications Solutions MBARQ provides high-quality integrated voice, data, In- most of their landline and wireless networks in many ways, the E ternet, wireless and entertainment communications so- most important of which can be saving money and increasing lutions in 18 states, including Nevada. EMBARQ, for- productivity. merly the local telecommunications division of Sprint, is a EMBARQ also offers a DSL value-added service that pro- brand-new 107-year-old company, employing about 20,000 per- vides a Web presence to small business customers with Web sonnel nationwide. hosting, e-commerce and multiple vanity e-mails. Business customers enjoy high-speed data options through The company continues to push its network evolution from EMBARQ High-Speed Internet and Ethernet services, dedicated T1 circuit to packet switching, recently transitioning its 1 millionth lines, asynchronous transfer mode (ATM) and frame relay. EMBARQ packet-switched line. Moving to packet switching dramatically is a leading provider of PBX, key systems, other data communica- increases network capacity and bandwidth capabilities. Other tions and call accounting. The company’s all-digital network is enhancements include further deployment of dense wave divi- made up of hundreds of self-healing fiber-optic “rings” that enable sion multiplexing (DWDM) through the network. DWDM signifi- circuits to survive cable cuts or other outages by rerouting calls, cantly increases bandwidth and capacity by making more effec- often without customers even being aware of the problem. tive use of each fiber. Because of its deployment of broadband through copper, fiber The company maintains a leadership role in community in- and digital facilities, EMBARQ offers home and business cus- volvement efforts. As an example, EMBARQ recently held its sec- tomers state-of-the-art products and services. EMBARQ High- ond annual back-to-school supply giveaway for teachers in Speed Internet offers dedicated bandwidth from home or business Southern Nevada. In addition, the company is creating an EM- to its DSL gateway that provides consistent speeds. In addition, BARQ Technology & Innovation Center for boys and girls in Las EMBARQ provides its customers a variety of product and service Vegas. EMBARQ also has a Las Vegas community relations team, bundles with the convenience and simplicity of a single bill. composed of local employees, which provides community lead- EMBARQ Smart Connect helps business customers make the ership for civic and humanitarian activities. The New Bank of Nevada Growing Into the Future ith the completion of the acquisitions of Nevada First office near Summerlin at the corner of Charleston Blvd. and Huala- W Bank and the former Bank of Nevada by BankWest of pai. Also opening later this year is a new 36,000-square-foot op- Nevada this past summer, the newly renamed “Bank of erations center near McCarran International Airport, which will be- Nevada” now features a total of 15 offices extending from Las come the centralized hub for furthering the capacity of the bank’s Vegas, Henderson, North Las Vegas data and service operations. In and Mesquite in Southern Nevada to Northern Nevada, a second Reno Reno in the north. Headquartered in Headquartered in Las Vegas, Bank of full-service banking office is in the Las Vegas, Bank of Nevada today planning stages. boasts $2.8 billion in assets and em- Nevada today boasts $2.8 billion in as- Bank of Nevada focuses on the ploys nearly 500 employees. business and professional mar- With the merger of the two sets and employs nearly 500 employees. kets of Nevada. The bank is banks, Bank of Nevada plans to con- structured as a “super communi- tinue its high-quality business bank- ty bank”, providing a broader ing based on a commitment to personal service and seasoned local product array and larger credit capacity than a community banking expertise. “The combined skills of the three organizations bank – and staffed with experienced relationship managers will provide our customers even greater lending and service capa- who serve as a single point of contact for their clients’ needs. bilities for business and personal banking, while maintaining the Bank of Nevada is the flagship institution of Western Alliance ‘small bank’ personal attention that is our hallmark,” said Robert Bancorporation (NYSE: WAL), which offers financial services in Sarver, president and CEO of the new Bank of Nevada. Nevada, Arizona and California through its subsidiaries Bank of Later this year, the bank will continue to increase its presence Nevada, Alliance Bank of Arizona and Torrey Pines Bank, and affil- in the state with the completion of several new office projects. In iates Premier Trust and Miller/Russell & Associates, Inc. the fall, Bank of Nevada plans to open a new full-service banking Glen, Smith & Glen Development Keeping Up with Valley Growth
len, Smith & Glen Development Currently, the firm is working on four four-story building, with a total of 365,000 G is a Nevada-based firm spe- commercial projects in Southern Nevada. square feet for sale or lease. It includes cializing in residential and The Park at Spanish Ridge is located in the landscaped entryways, interior streets, commercial projects. The managing quickly developing southwest area of Las common areas with courtyards, wide partners, Kenneth Smith and Alan Glen, Vegas. Phase I of the project sold out be- building setbacks and abundant parking. have been responsible for the combined fore it broke ground in 2005, and Phase II The Park at Northpointe is located be- production of several billion dollars in is currently under construction. It offers 13 tween Craig Road and Alexander on Martin real estate development over the course single-story buildings, two two-story build- Luther King Boulevard in North Las Vegas. of more than 60 years. ings, one three-story building, and one The architectural design will resemble the Park at Warm Springs, featuring the same building accents and landscaped common areas. Currently under construction, The Park at Northpointe will feature 18 one- story buildings ranging from 4,200 square feet to 7,200 square feet. The first 10 retail and office buildings are for sale or lease. Patrick Professional Park will consist of a 20-acre custom commercial lot avail- able in increments, with utilities stubbed to each parcel. Located between Patrick and Oquendo west of Durango, this develop- ment offers purchasers the ability to devel- op a unique office environment tailored to their needs. The .75-acre lots may be pur- chased individually or in multiple numbers. The Park at San Martin is located on Warm Springs between Buffalo and Cimar- ron, adjacent to the new Saint Rose Do- minican Hospital, San Martín Campus. Under development, The Park at San Mar- tin will consist of 75,000 square feet of sin- gle-story buildings, and 168,000 square feet of multi-story buildings designed as a medical office center. Glen, Smith & Glen also has plans for two mixed-use developments in the southwest quadrant of the Valley. The first will be situated on 16.5 acres at Sunset and Durango near the I-215 Beltway. The development will comprise four 20-story residential towers, two mid-rise terraces, one loft building, brownstones and a class-A office building. The main market street will feature retail stores and spe- cialty shops. The second project will be located at Russell Road and I-215. The 13-acre project will consist of five multi- story office buildings, three mid-sized condominium towers and three large flex- space commercial/retail/loft buildings. RINKER MATERIALS Providing Pre-Cast Products
inker Materials Concrete Pipe Division, known in South- which gives customers an additional assurance of quality. R ern Nevada as the Las Vegas Pipe Plant, manufactures a After-the-sale service is equally as important as delivering complete line of pre-cast concrete box culverts to meet a quality product. Rinker Materials’ service ends only after pro- engineering requirements of developers and builders. These rein- duction and shipping schedules are met, and the client accepts forced concrete systems meet specifications under conditions in- the installation. cluding shallow cover, special water- Rinker Materials is a lead- way requirements and/or unusual ing producer of precast concrete load conditions. pipe and box culvert for storm Rinker Materials’ pre-cast sys- Rinker Materials is an internationally drains, culverts and sanitary sew- ers in the United States. Its Las tems are available in a wide range recognized leader in the concrete pipe of standard sizes (4’x 2’x 8’ through Vegas Pipe Plant is a state-of-the- 22’x 8’x 6’) to meet or exceed ap- and precast concrete industry. art facility delivering pre-cast box plicable AASHTO/ASTM require- culverts directly to job sites in ments and local restrictions. Rinker Southern Nevada, Southern Cali- Materials also manufactures most special products required, in- fornia and Arizona. All box culverts cluding bevels, elbows and transitions, so customers do not are ready for immediate installation. have to use a mixture of precast and cast-in-place materials. Installing pre-cast box culverts allows builders to complete Rinker Materials is an internationally recognized leader in most jobs twice as quickly as using conventional cast-in-place the concrete pipe and precast concrete industry. Each Rinker methods. Pre-cast box benefits include superior strength, consis- system is backed by leading technology, engineering expertise tent quality from box-to-box and immediate backfilling for faster, and a commitment to quality and service. Las Vegas Pipe is also safer installation and a reduction in cost for traffic control, over- American Concrete Pipe Association (ACPA) Q-CAST Certified, head and project management. Marnell Corporate Center Class A Space in Airport Submarket arnell Properties is a real estate development and man- travertine floors, solid birch doors, a dramatic two-story lobby en- M agement company focusing on the acquisition, develop- trance and a five-story adjacent parking garage. MCC-5 is slated ment and management of high-impact commercial real for completion in the fourth quarter of 2006 and will consist of ap- estate holdings. One of the company’s current projects is the Mar- proximately 118,000 gross square feet, which includes more than nell Corporate Center, a Class A office environment in the airport 111,000 leaseable square feet. submarket with high visibility and ease of access to all major points Marnell Corporate Center broke ground on a business hotel, in the Las Vegas Valley. Homewood Suites, in September 2006. Upon completion in 2007, Marnell Corporate Center is one of Marnell Properties’ fastest Homewood Suites will offer a four-story hotel with 147 rooms. growing commercial projects in the Valley, consisting of a 40-acre The Marnell Corporate Center was designed as a Class A of- Class A professional office campus with seven buildings containing fice park to create a campus environment providing tenants with approximately 347,000 square feet of mixed-use, mid-rise profes- highly innovative and flexible floor plates, state-of-the-art facilities, sional office space. Approximately 389,000 square feet of addition- management services, access to high-speed data infrastructure, al office, restaurant, hotel and warehouse space is presently in the covered parking, distinctive public area finishes, interior elements planning or construction phases, which will comprise a total of 12 with substantial character and quality and 360-degree views of the buildings from one to five stories tall. city. Marnell Corporate Center is strategically located at the inter- Current tenants of the Marnell Corporate Center include NAI section of Interstate 15 and I-215 and adjacent to McCarran Inter- Horizon, Cox Media, Lennar Corporation, Marnell Corrao Associates, national Airport. TRIRIGA, The Smith Center for Performing Arts, Nevada Develop- Another Marnell Properties venture, also in the airport sub- ment Authority and Turnberry Associates, among others. market, is McCarran Marketplace, which will include an estimated The latest addition under construction at Marnell Corporate 50 stores with 3,000 parking spaces upon its completion in the Center is MCC-5, a five-story steel and glass Class A office building. fourth quarter of 2007. The 600,000-square-foot community retail When complete, MCC-5 will feature fiber optic lines, polished center will have 16 buildings arranged in a master-planned setting. Cheyenne Technology Corridor High-Tech Is Only Part of the Story
ix years ago, five commercial training, infrastructure – to create a any size data business, but we’re also S real estate developers had a unique product to attract the high-technol- in the perfect location for service and brainstorm for a five-mile ogy companies we wanted,” stated North retail companies because of the recent stretch along Cheyenne Avenue: work Las Vegas Mayor Michael Montandon. demand from surrounding businesses with city of North Las Vegas staff to trans- “The CTC is the real deal,” accord- and homes.” form the corridor into an integrated, ac- ing to Lyle Brennan, a CTC partner and The corridor offers easy access to cessible, diversified and sought-after owner of Lyle B’s Investments. “We Interstate 15, U.S. Highway 95 and the high-tech district that would attract com- have technology available for just about northern stretch of the 215 Beltway. panies from North Las Vegas and beyond. Their vision developed into the Cheyenne Technology Corridor (CTC). Com- munity College of Southern Nevada’s (CCSN) Cheyenne campus at Pecos Road and the North Las Vegas Airport at Decatur Boulevard serve as bookends for the CTC, which is now home to the highest of high-tech tenants. QualCOMM, Spacecraft Components Corp., MedicWest, CDW and California Plasticard, Inc. are just a few of the companies that were attracted to the corridor. But there were those who went be- fore – and who remain grounded in the project today. CCSN and the North Las Vegas Airport not only anchor the CTC, they were some of its pioneering part- ners, along with a handful of local tech- nology-service companies. According to Mike Majewski, North Las Vegas’ director of economic development, early collabo- rations set the foundation for what has become North Las Vegas’ crown jewel. Other founding partners include Lyle B’s Development, Harsch Investment Proper- ties, Jackson Shaw Company and Stoltz Management. While a public-private partnership between the founders and the City of North Las Vegas fuels the CTC, fiber optic cables offer the fast connectivity that draws top manufacturers, distribu- tors, technology and research and de- velopment firms to the corridor. But fiber optics alone do not tell the story. Trans- portation solutions, a well-trained labor force and superior communication op- tions rank among the top benefits of doing business in the CTC. It’s exactly what the tenants who fill the tech, R&D, flex and office space, light manufactur- ing and distribution spaces are seeking. “We knew it was necessary to put to- gether the right package – transportation, NAIOP Southern Nevada Chapter 2006 Bus Tour Committee
Chris Larsen, Chair Dekker / Perich / Sabatini, Ltd.
Connie Brennan Nevada Business Journal
Danielle Caprio RMI Investment Services
Todd Coons All World Promotions
Sallie Doebler United Construction Co.
Kathleen Foley Nevada Business Journal
Bruce Follmer CB Richard Ellis
Brooklyn Julian Anchor Development
Suzette La Grange Colliers International
Rob Silecchia SR Construction, Inc.
Mike Tabeek Coldwell Banker Commercial ETN
Taber Thill Colliers International
Garrett Toft Voit Commercial Brokerage
Chuck Witters Lee & Associates 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.
CHAPTER 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’ under- standing of the importance of commercial real estate
• To provide member education and encourage educational programs in Southern Nevada Cheyenne Valley Gateway: On the Cutting Edge of Technology
heyenne Valley Gateway is a 30-acre professional office restaurants and food stores because retail has not yet caught up C and retail park in the Cheyenne Technology Corridor with area’s tremendous growth,” said Brennan. (CTC) being developed as a joint venture between Shea Quality reigns at Cheyenne Valley Gateway, which features Commercial and Lyle B’s Development. The park provides a good 35-foot date palms, EIFS exterior and distinctive stone finishes. example of the possibilities CTC offers to companies that want true Meandering sidewalks, pedestrian plazas, tiled sidewalks and high-tech connectivity. Phase I of the project has redundant dark parkway drives enhance this upscale destination. fiber available to every building – re- Comprising six acres of the sulting in quick and easy telecom- 30-acre park, Phase I is complete, munications setup, while enjoying with one remaining unit for pur- data speed availability unparalleled “Cheyenne Valley Gateway is an ideal chase. Limited retail space is avail- in the industry. able from 1,600 square feet to Location has been an impor- location for shops, restaurants and food 12,000 square feet, as well as re- tant factor in attracting businesses stores because retail has not yet caught tail parcels for sale that front to Cheyenne Valley Gateway, ac- Cheyenne Avenue. cording to developer Lyle Brennan. up with area’s tremendous growth.” Phase I purchasers include The park is located just minutes to Business Bank of Nevada, Spin- downtown Las Vegas, midway be- naker Homes, Lee Turner DDS, VT tween Interstate 15 and U.S. 95 Construction, Classic Productions, and not far from the I-215 Beltway. Travel to nearby master- Mortgage Lending and Investments, and Xtreme Realty. Phase II planned communities, such as Aliante and Summerlin, is fast construction will begin this fall. QualCOMM, one of the country’s and convenient. leading high-tech firms, recently decided to locate a major facili- “Cheyenne Valley Gateway is an ideal location for shops, ty adjacent to Cheyenne Valley Gateway. Southern Nevada’s Industrial Real Estate Market Expansion Continues Despite Challenges
By Brian Gordon and Jeremy Aguero
The LogistiCenter CDW Build to Suit was named the best industrial building at NAIOP’s 2006 Spotlight Awards.
As 2006 presses forward into The amount of industrially zoned than they require and subdivide the prop- A its final quarter, the Las Vegas land available at financially-feasible erty. In many instances, owners are able Valley industrial real estate prices within the urban Valley is remark- to sell portions of their site at a premium market remains near optimal occupancy ably small, a factor that has heightened in an effort to reduce their overall land levels as long-term land availability has concern in the developer, economic de- basis and remain competitive. This con- become a material concern on the part of velopment and end-user communities. cept has worked well in the past, but has developers and potential users. Notwith- In addition to elevated land pricing some acquirers concerned about “getting standing long-term growth challenges, and limited availability, other factors con- caught” at the peak. Southern Nevada’s industrial market ex- tinue to impact the sector. The recent Market shifts to small, urbanized panded by 3.0 million SF during the first trend of developing for-sale freestanding areas such as Mesquite, Laughlin, Glen- half of 2006 with an additional 5.0 million buildings may witness a slow-down, par- dale, Pahrump and northwestern Arizona SF of industrial space under construction tially attributable to rising short-term in- may be attractive for selected industrial and another 6.6 million SF planned for fu- terest rates. Construction cost increases uses. The recent project announcements ture development. The current level of may also dampen demand, as retail price at Apex Industrial Park may provide an al- construction activity has the market escalation will require a significant leap ternative location. poised to shatter previous records. to make retail acquisition and develop- Given the $30-billion-plus resort cor- With supply-side market conditions ment projects feasible. The question re- ridor construction activity planned during reporting robust activity, demand in the mains: “Will end-users be willing to ab- the next five years, there remains a industrial sector continues at a healthy sorb the additional cost to maintain or strong pipeline of demands for supporting clip in spite of rising rental rates and con- expand in one of the country’s most ro- goods and services. There is one thing we cerns over labor availability. Market de- bust economies?” can be certain of during this period of mand (or net absorption) during the first To make sense of a frenzied market, transformation – if industries outside the half of the year was 2.3 million SF. many developers have become more cre- tourism sector do not respond to the new By mid-2006, the balance between ative in their development strategies and economic climate, longer-run impacts supply and demand resulted in a relative- willingness to share in profits. The recent may be more expansive than those spec- ly low 4.0 percent vacancy factor, repre- shift toward for-sale freestanding build- ulated just for the industrial sector. It is senting a modest increase from the ings has clearly emerged as a viable op- quite possible the current wave of con- record-low 3.2 percent reported at the tion in a low-interest rate and rising-cost struction in both the resort and industrial end of the first quarter 2006 and a drop environment. Joint-venture arrangements markets could be the last of its size for from the 4.4 percent vacancy factor between landowners and those with de- some time to come. recorded one year ago. Current vacancies velopment experience have allowed in- are well below historical performance terested parties to leverage the expertise Brian Gordon and Jeremy Aguero are measures with no expectation into the of others, while mitigating exposure. principals of Applied Analysis, a Nevada- foreseeable future of achieving double- Another technique receiving increas- based advisory service firm providing a digit vacancy rates, which were last re- ing acceptance is the ability of investors wide range of consultation services for ported in late 2003. and developers to acquire larger parcels public and private entities.