vegasinc.com | December 13 - 19, 2015
Alon Las Vegas, a hotel project led by Australian businessman James Packer, is planned for the site of the old New Frontier on the Strip. (steve marcus/staff)
Real estate resurrection After years of relative inactivity amid the economic downturn, action is picking up in the valley By Eli Segall | Staff Writer
Las Vegas’ commercial real estate industry soared with the boom, collapsed with the bust, then was quiet for a few years. ¶ Today, business is picking up. ¶ Investors are building projects, signing leases and, to tenants’ dismay, raising rents. Buyers also are scooping up properties but not as often as they did a few years ago, when prices were lower. comm e rcial r e al estate , Continued on page 15
$126.5M 7.5% The exit fee Wynn Resorts, MGM Resorts International and Las Vegas Sands would have to pay, on top of additional fees, to end their contracts with NV Energy.
Anticipated increase in passengers at McCarran International Airport in the second quarter of 2016, according to aviation marketing officials.
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CONTENTS
VEGAS INC DEC. 13 - DEC. 19
PUBLISHER Donn Jersey (donn.jersey@gmgvegas.com)
EDITORIAL
NOTEWORTHY STORIES
05 06 18 Q&A WITH NIKKI FERRARO
The co-owner of Pizza Forte at Sunset Station and Hard Rock Hotel talks about ways Las Vegas can improve quality of life for its residents, why older women are the people she admires most, and her love of Oreos and wine. THE NOTES Commercial real estate moves, P4
MEET: THE RANGE 702
The indoor shooting facility near the Strip, celebrating its third anniversary in business, attracts locals and tourists by setting high standards on safety and customer service. TALKING POINTS Take every chance to expand your business circle,
DATA AND PUBLIC INFORMATION A listing of local bankruptcies, bid opportunities, brokered transactions, business licenses and building permits.
MORE VEGAS INC BUSINESS NEWS Calendar: Happenings and events, P17 The List: Nonprofit organizations, P22
P7
EDITOR Delen Goldberg (delen.goldberg@gmgvegas.com) MANAGING EDITOR Dave Mondt (dave.mondt@gmgvegas.com) ASSISTANT MANAGING EDITOR/SPORTS AND DIGITAL Ray Brewer (ray.brewer@gmgvegas.com) ASSISTANT MANAGING EDITOR/POLITICS Scott Lucas (scott.lucas@gmgvegas.com) STAFF WRITERS Kailyn Brown, Julie Ann Formoso, Adwoa Fosu, Megan Messerly, J.D. Morris, Daniel Rothberg, Cy Ryan, Eli Segall, Jackie Valley, Pashtana Usufzy, Ian Whitaker COPY DESK CHIEF John Taylor COPY EDITORS Jamie Gentner, Brian Sandford SPECIAL PUBLICATIONS EDITOR Craig Peterson EDITORIAL CARTOONIST Mike Smith LIBRARY SERVICES SPECIALIST Rebecca Clifford-Cruz RESEARCHER Julie Ann Formoso OFFICE COORDINATOR Nadine Guy
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LAS VEGAS SUN ARCHIVES
VINTAGE VEGAS: NEVADA TOWN WAS LARGER THAN LAS VEGAS A booming mining town in the early 1900s, Searchlight today primarily is know as the birthplace and former home of U.S. Sen. Harry Reid. During its heyday, the Lincoln County town housed 1,500 people — more than Las Vegas at the time. But the majority of the area’s mining operations dried up by 1920.
Since then, Searchlight, 55 miles south of Las Vegas, has seen a consistent decline in population. The 2010 U.S. Census counted just 539 residents. Pictured here is a photograph of Searchlight Town Hall on Jan. 27, 1980. — REBECCA CLIFFORD-CRUZ
EDITOR’S NOTE The SBA lenders list is being reprinted because the original, which was included in the Nov. 29 edition of VEGAS INC, contained an error.
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The Society of Industrial and Office Realtors® Southern Nevada Chapter salutes our 2015 sponsors for their generous support and commitment throughout the year. SOUTHERN NEVADA CHAPTER
Through the collective wisdom of nearly 300 years of combined experience in the commercial real estate industry and producing over $8 billion dollars since 2001 in market transactions, we currently have 28 commercial real estate professionals in Southern Nevada with the SIOR designation. By choosing a SIOR for your next transaction, you are assured of an experienced, credentialed, and ethical professional.
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Ray Germain, a retail and netlease specialist, is an associate vice president of investments at Marcus & Millichap.
Tina D. Taylor, vice president investment specialist at Marcus & Millichap, had the exclusive listing to market Taco Bell Store No. 35, a 2,478-square-foot net-leased property. It sold for $2.88 million.
MDL Group joined CORFAC International as a domestic affiliate and will cover Southern Nevada. CORFAC Internagermain tional is made up of privately held entrepreneurial firms with expertise in office, industrial, retail, tenant and landlord representation, investment sales, multifamily, self-storage, acquisitions and dispositions, property management and corporate services. Hayim Mizrachi, president and principal of MDL Group/CORFAC International, is the principal point of contact to CORFAC International and manages MDL Group’s brokerage services practice. MDL Group was co-founded in 1989 by Carol Cline-Ong and Curt Anderson. In 2014, the firm closed more than $70 million in transactions.
Sandy Olson, vice president and general counsel of Roche Constructors, is a management member of the Occupational Safety and Health Administration for Nevada. She was appointed by Gov. Brian Sandoval and previously served as the alternate member on the board.
Brian Fike is vice president of investment services at Colliers International-Las Vegas. He represents buyers, sellers, tenants and developers of netleased investments. Brenda Olson is an associate with Gatski Commercial’s retail properties division of brokerage fike services. Olson specializes in retail assets including ground-up development, acquisitions, and landlord and tenant representation. John Sanders is assistant vice president of commercial real estate sales at Chicago Title Insurance Co. of Nevada. Greg Jubinville is a project manager at DC Building Group. DC Building Group and QAF sanders Investments broke ground on the Rainbow-Santoli Commercial Center at Rainbow Boulevard and Santoli Avenue. DC Building Group moved into a 6,000-square-foot corporate office at 101 E. Warm Springs Road, which replaces its former 4,000-square-foot space at 6110 Elton Ave. In addition, DC Building Group is the construction manager at risk (CMAR) for an expansion of the Englestad Campus Thomas & Mack Building at Opportunity Village. The nearly 38,000-squarefoot expansion and 10,000-square-foot interior renovation has an estimated project value of $5 million.
Kim Kurtz-Ferraro is a project manage at Roche Constructors. She has 16 years of experience as an estimator, project manager and project engineer. The Nevada Department of Transportation awarded Kiewit Infrastructure West Co. a $559.4 million contract for Project Neon, a 3.7-mile widening of Interstate 15 between Sahara Avenue and the Spaghetti Bowl. Construction is scheduled to begin in the first quarter of 2016, with completion in 2019. Members of the 2016 Commercial Alliance Las Vegas board of directors include president Soozi Jones Walker, Commercial Executives Real Estate Services; immediate past president Bobbi Miracle, Commercial Executives Real Estate Services; president-elect Jennifer Ott, ROI Commercial Real Estate; treasurer Paul Bell, Berkshire Hathaway HomeServices Nevada Properties; director Robin Civish, ROI Commercial Real Estate; director Cathy Jones, Sun Commercial Real Estate; director Tom Lisiewski, Your Real Estate Co., Commercial Marketing Group; and director Tedd Rosenstein, Nevada Development and Realty Company. Commercial Alliance Las Vegas is the commercial real estate division of the Greater Las Vegas Association of Realtors. The D Las Vegas opened an 11,000-square-foot meeting and convention space on the 12th floor of the hotel. Owners also renovated the ballroom, breakout rooms, an outdoor terrace, “Man Cave” party rooms and a fitness and business center. Majestic Realty Co. was named NAIOP 2015 Developer of the Year. Majestic is the largest privately held industrial developer in the country. During the past year, it completed nine buildings, adding more than 6 million square feet and increasing its ownership portfolio to 78 million square feet. Caesars Palace Las Vegas is transforming the Roman Tower into the Julius Tower. The $75 million renovation is designed by Michael Medeiros of KNA Design and is expected to by complete by January.
USI, a construction services provider of installed insulation, acquired Silver State Specialties, a North Las Vegas full-line insulation and specialty services contractor. Bill Ickes, founder of Silver State Specialities, will helm the new USI Silver State. DRA Advisors LLC acquired Village Square, a 250,000-square-foot, open-air retail, dining, entertainment and professional office center at 9400 W. Sahara Ave. Sentinel will continue to manage the property. Southern Nevada CCIM Chapter honored six members who earned the Certified Commercial Investment Member designation: Antone Brazill, principal at Brazill Team Real Estate; C. Roger Jeffries, investment sales associate at Sun Commercial Real Estate; Paula Lea, associate at Cushman & Wakefield Commerce; Eric Molfetta, senior associate at Colliers International; Jennifer Ott, executive vice president of retail at ROI Commercial Real Estate; and Salina Ramirez, commercial agent at Commercial Executive Real Estate Services. Dapper Companies, headed by real estate broker and developer J Dapper, purchased three properties in the Huntridge area of downtown Las Vegas: the Huntridge Shopping Center, 1120 E. Charleston Blvd., about 62,000 square feet, purchased for $5.2 million; 602 S. Maryland Parkway, including 12,000 square feet of retail space and a fourplex, purchased for $775,000; and 630 S. 11th St., about 5,000 square feet of retail space, purchased for $415,000. Dapper and his companies are remodeling the properties. Benjamin Tarsi is a real estate analyst at CommCap Advisors. Cushman & Wakefield/Commerce hired 10 brokers: Jennifer Levine and Elizabeth Moore are directors of industrial properties. Jayne Cayton, senior director, and Matt Kreft, senior associate, focus on tenant prospecting, landlord representation and lease negotiation of office properties. Carl Sims, executive director and multifamily specialist, and Taylor Sims, director, are a multifamily investment team. Nicholas Barber and Jeremy Foley, directors, specialize in the leasing and sale of office and retail properties. Lauren Tabeek, director, represents retail clients, specializing in leasing, sales, valuation and financial analysis. And Jason Park, associate, joined the retail team of Dan Hubbard and Todd Manning. In addition, Brittany Kemer joined the company as branch operations coordinator, and Dan Palmeri was promoted to senior director.
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Q&A with nikki ferraro
For restaurateur, it’s best to be fresh Nikki Ferraro grew up around the restaurant industry. And her husband’s parents own Ferraro’s Italian Restaurant and Wine Bar, a 30-year staple of the Las Vegas food scene. This year, Ferraro opened two locations of Pizza Forte (at Sunset Station and Hard Rock Hotel). And for the past year, she has served as president of the board of directors for Aid for AIDS of Nevada, which raised nearly $130,000 at this year’s Black & White Party and $440,000 at its annual AIDS Walk. got us ready for school, went to work, picked us up, made dinner, put us to bed and sometimes went back to work. No nanny, babysitters, neighbors or family to help out. We just went to work with them and figured it out. My Saturday and Sunday mornings consisted of pumping gas at my grandma’s gas station in New York, or when we moved to Wisconsin, sitting in the office while she did the books. I honestly don’t know how they did it and got everything done. I bring food home from the restaurant on some nights because I can’t find the time to make dinner. Thank God my kids love pasta! I hope to pass down what these two amazing women taught me.
What is the best business advice you’ve received, and whom did it come from? The advice was to love what I do every day or stop doing it. This comes from my 96-year-old great-grandmother. If you could change one thing about Southern Nevada, what would it be? My husband, Mimmo, and I recently traveled to Minnesota for my best friend’s wedding. We opted out of renting a car because everything is so close to downtown and was right outside of our hotel. Bikes were available to rent for up to 24 hours. There were docking stations all over the city. We had the best time. I love traveling to cities like that because they are so full of outdoor activities. I wish we had more of that. What did you learn from your experience at your family’s business, Ferraro’s Italian Restaurant and Wine Bar? I have learned in my career to never underestimate the people walking in the door. From T-shirts to suits, they are all people and deserve to be treated the same. I’m glad I understand the power of kindness; it has gotten me very far. What makes Pizza Forte unique? I know there are so many pizza shops around, and everyone has the same objective: to make a good pizza. I, however, think we really freaking do! Our dough and sauces are made fresh every day. Our produce is delivered every other day. We don’t even have a freezer. Plus, how many restaurants are there where you actually see the owners, chef and family members? You do at Pizza Forte. All of our pizzas are made in the front of the house so you can watch your pizza being made. We encourage our staff to really engage the customers and to know something about them before they leave. What are you reading?
Nikki Ferraro, co-owner of Pizza Forte, says the shop doesn’t have a freezer. (STEVE MARCUS/staff)
“The 5 Love Languages” by Gary Chapman, and “How to Make Love Like a Porn Star: A Cautionary Tale,” by Jenna Jameson and Neil Strauss. What do you do after work? Pick up the kids from school, run errands, put the kids to bed, then drink wine with friends. Our home is my favorite place to be. We have so many barbecues and nights in the backyard with the fire pit. Describe your management style. According to my husband, I am the loud one. I think I am relatable, and I am not afraid to roll up my sleeves and get dirty. I’m not going to tell you how I want things done; I’m going to show you. Where do you see yourself and your company in 10 years? By 2025, hopefully juggling many more properties for Pizza Forte, yet still coming up with new and fun projects. We can’t afford for me to be bored; I’ll knock a wall down and figure out how to put it back up.
What is your dream job, outside of your current field? Farm owner. We have two turtles, two dogs, five chickens, five fruit trees and a huge garden. My favorite time of the day is 6 a.m., when I wake up, make coffee, go in my backyard and water all of the trees and feed all of the animals. I let the kids pick the eggs. I would try to bring more animals home, but at this point, I think we are maxed. If you could live anywhere else in the world, where would it be? The world is a very large place. I would have to travel a lot more to find that place. But for now, I would have to say Napa. I get the best of all worlds — wine, land for my farm, adorable homes, amazing restaurants. I said wine, right? Whom do you admire and why? I have so much admiration for the women in my life. When my grandmother was raising me, and my mother-in-law was raising three kids, they did everything on their own. They
What is your biggest pet peeve? So, so many. Personally, it’s how long it takes my husband to answer questions. “Babe, want to go to a movie?” Ten minutes later, he answers. How long does it really take to answer that question? Clearly that one still gets me; it’s fresh. At work, it’s when people eat more than half of their food, then complain about it. It was so bad, I ate almost all of it. Go home! Also, I am understanding of dietary restrictions and complications — my son and husband are lactose-intolerant — but when people come into the pizza shop and want us to make them a gluten-free, no-cheese, veggie-only-but-no-peppers-because-it-gives-them-gasand-no-onions-because-they-don’tlike-them whole pizza, then only want to buy a single slice. Where do you like to go for business lunches? I’ll dine anywhere with a patio. What is something people might not know about you? I’m double-jointed and can walk on my toes. I also have an obsession with tree houses, and I am capable of eating an entire pack of double-stuffed Oreos by myself in one sitting. I eat them after the kids go to bed so I don’t have to share.
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dec. 13 - dec. 19
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by the numbers
500 Hotel rooms in the California scheduled to be upgraded. The renovation will incorporate a modern Hawaiian colonial design.
$1.6 Million Funding the Nevada Center of Excellence is expected to receive over the next two years from the Governor’s Office of Economic Development. The center is a nonprofit incubator at the Desert Research Institute for water technology startups. It aims to improve conservation efforts in Nevada.
5 Months the federal ExportImport Bank was denied a charter. However, Congress revived the bank Dec. 4, extending its charter to 2019. Opponents say the bank represents company welfare and is marred by corruption. Supporters call it an imperative resource for small businesses to help them participate in the global trading market.
$2.9 Million Amount the Cosmopolitan received to cover the cost of destroyed assets after a fire July 25 at Bamboo Pool. Clark County said the resort’s artificial palm trees would not have passed muster for indoor use, but it has not made a push on legal changes.
13,000 Square footage of a new SolarCity training center that opened Nov. 30. The facility will train up to 80 rooftop solar panel installers from Nevada, Colorado, Texas and Arizona.
3 Percent Drop in Nevada’s gaming revenue in October. Strip gaming revenue for the month was $493.6 million, down about 5 percent from October 2014.
Brian Doleshal is general manager of The Range 702, which recently moved into a new building that includes 16 lanes, including a four-lane VIP range. (STEVE MARCUS/staff)
Gun range aims to please tourists, locals The Range 702
We’ve learned that being part of the Las Vegas community is not only an honor but a privilege. We have been extremely blessed to maintain our flow of business, and we realize that we wouldn’t have hit this milestone without the support of our community.
Staying relevant. Living in such an exciting town full of world-class shows, tours, hotels and restaurants, you must wake up every day with the mindset, “What can I do better today, and how can I deliver the most memorial experience possible to each of our guests?” Without fail, I question every move we make in business, knowing that if I don’t, a competitor will. Doing business in Las Vegas isn’t a job, it’s a responsibility to the Range 702 team and shareholders as well as the greater Las Vegas community.
You recently moved into a new, custom building. What changes did you make in your new space?
What is the best part about doing business in Las Vegas?
The new store is an ultra-modern facility with no expense spared. We value our customer and did our best to build a location that feels welcoming the second you hit the showroom floor.
Getting to wake up every day and do something very few other people get to do. We are privileged to be a destination town with thousands of people coming daily to have a once-in-a-lifetime trip. You can’t say that about every city. Without a doubt, we are some of the luckiest business operators in the nation. One of my favorite things to do is stand back and watch the reactions of people when they enter our store. No matter what age they are, the excitement and wonderment in each of their eyes is a definite recharge.
Describe your business.
The Range 702 is an indoor shooting facility that offers services to tourists and locals who wish to come in and use their own firearms. You just celebrated your third anniversary. What have you learned since you opened?
Address: 5999 Dean Martin Drive, Las Vegas Phone: 702-485-3232 Website: therange702.com Hours of operation: 9 a.m.-7 p.m. seven days a week Owned/operated by: Brian Lake In business since: 2012
What’s the most important part of your job?
Safety is always going to be the most important, but service is an immediate second. I tell my team daily, “If we are not the safest range in Las Vegas, then we will have no guests to service.” Every day the team steps on the floor, they follow a series of standards and checklists to ensure every guest enjoys a quality experience they will remember for a lifetime. What is the hardest part about doing business in Las Vegas?
What have you learned from the recession?
The recession taught us to run lean and be creative. You cannot sit back and wait for guests to come in and experience what you are all about. You must take it to the public and educate them on your product. You must be the very best at what you do, no matter what.
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Reader comments We want to hear from you. Visit vegasinc.com to post your opinion.
On J.D. Morris’ lasvegassun.com story “The Cosmopolitan agrees to 4-year union contract”: Who said unions were becoming extinct? They are more important now than ever within this great capitalist system of ours. — Citizens-United On Eli Segall’s vegasinc.com story “Developer recalls Las Vegas’ mobster past, assesses north Strip’s future”: What an interesting history he has, from a bygone era when America was truly the land of opportunity. — Testigo_Tortuga Nice story. We need more of these from anyone who was around to help stop the loss of our city’s history. — Diesel-Junkie On Kyle Roerink’s lasvegassun. com story “Casinos have few options after PUC exit decision”: This whole idea of a monopoly is a disgrace. Everyone should have the opportunity to do business with whom they want. — itzreality There will be lawsuits over this by the casinos, and they will win. — cmpf2112nfl
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Take every chance to expand your business circle
D
guest column: Many of our members already have strong uring my last couple of months charles van geel working relationships with the municias president of NAIOP Southpalities in which we do business. And if a ern Nevada, I’ve been thinking member doesn’t have a working relationship about what the organization with an agency or a contact, other members means to me. Really, I’ve been thinking do or have access to those who do and can facilitate meetings about the concept as a whole: What does being part of any and introductions. Membership organizations encourage good, strong, professional organization mean to its members and enhance connections and relationships, often through and board? monthly meetings and special events, to build camaraderie Overwhelmingly, the words camaraderie, relationships and among members of different sectors of an industry. resources stand out. I’ve been an NAIOP member since 1999 Professional organizations can act like an open door and for the past year have been honored to helm the orgato policymakers, industry people and others with whom nization. I’ve had the opportunity to have a front seat to all members need or want to meet. Conversely, policymakers see the benefits NAIOP provides, and the experience opened my membership organizations as a resource to better undereyes. Professional organizations are all about strong relationstand an industry and help them connect with those they ships. need to meet. Recently, NAIOP Southern Nevada held a speed-datingMy hope moving into 2016 is that the relationships NAIOP esque workshop between our members and several local Southern Nevada and other local professional organizations elected officials, including Henderson Mayor Andy Hafen, work so hard to foster continue to grow and flourish. I also North Las Vegas Mayor John Lee, Clark County Commishope our events, such as the recent meet-and-greet, continue sioners Steve Sisolak and Larry Brown, Henderson Councilto connect our community and that our members’ relationwoman Gerri Schroder and Las Vegas Councilman Steve ships continue to strengthen and develop as the commercial Ross. That event, to me, was the essence of what our orgareal estate industry’s job market grows and develops new nization and similar organizations are all about. Members opportunities. sat at tables while our invited policymakers moved around Charles Van Geel is president of NAIOP Southern Nevada the room, meeting and speaking with members in a cordial, and vice president of commercial leasing and sales at American informal atmosphere. It was a great event that connected a Nevada Company. lot of great people in our community.
Smith’s world
Mike Smith is an award-winning editorial cartoonist who also draws for the Las Vegas Sun. His work is distributed nationally by King Features Syndicate. See archives of his work at lasvegassun.com/smithsworld.
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Tourism officials discuss details of convention center project By j.d. morris Staff Writer
Tourism executives offered more insight into their plans to expand and renovate the Las Vegas Convention Center recently as they continued to make their case to a committee that will be influential in funding the project. The Las Vegas Convention and Visitors Authority, which bought the Riviera in February, is preparing to demolish the shuttered casino and clean up the site for use as outdoor exhibit space. But the authority needs help from the Southern Nevada Tourism Infrastructure Committee to fund the next steps: building a new convention facility, then revamping the existing convention center on Paradise Road. The committee, which includes elected officials and casino executives, is expected to submit a report next year that will include recommendations about funding for improvements to tourismrelated facilities in the Las Vegas area. At the committee’s recent meeting, Terry Miller of Cordell Corp., which is
helping the authority manage the convention center project, outlined the budget and construction plan. His presentation indicated that the hard costs of constructing the facility, which include the actual labor and construction materials, should be $365 per square foot. Adding in other costs such as the general overhead for contractors, management fees, permitting and inspections, the cost of the construction phase is expected to increase to $600 per square foot. The new convention building will feature 1.4 million square feet of convention-related space, including a 600,000-square-foot exhibit hall, bringing the total budget for that part of the project to $860 million. The renovation of the current convention center is expected to cost $540 million, or $143 per square foot. Part of the Riviera site closest to Las Vegas Boulevard initially will be used for outdoor exhibit space even while the facility is constructed and after it opens. The work is expected to take many
years to complete; the authority doesn’t expect to wrap up the renovation until 2022. An additional phase — which, according to the presentation, would be “based upon market conditions” — could increase the project’s timeline. The committee has not taken any action on the convention center plans, which have previously received pushback from Las Vegas Sands Corp. Earlier in the meeting, the committee focused on pedestrian movement within the resort corridor. The first takeaway: Although the Strip has made strides toward becoming more pedestrian-friendly in recent years, it can do more. Officials told the committee the Strip has made improvements such as widening the sidewalk in certain areas but that congestion and other issues remain. Clark County Manager Don Burnette said the Strip made moves to reduce the amount of densely trafficked space but that an increase in the number of street performers, for example, would pose a challenge.
Another issue is the need for more law enforcement resources. Sheriff Joe Lombardo said Metro Police assigned less than one officer per 1,000 tourists on the Strip. The department recorded a 6.6 percent increase in calls for service there last year, representing 22 percent of its total calls, he said. He also said he was concerned that the department had recovered or impounded 76 guns on the Strip this year. The city of Las Vegas highlighted to the committee steps taken to ease the pedestrian experience downtown, such as improvements to streetscapes, lighting, signs and taxi stands. Las Vegas has invested $47 million in the past seven years on pedestrian and streetscape improvements and plans on an additional $177 million over the next five years. Additionally, City Manager Betsy Fretwell said performance zones implemented on the Fremont Street Experience produced an “immediate impact” by creating a more organized environment for pedestrians.
The Future Looks Bright! Our Las Vegas office is growing – with the addition of these experienced professionals, our future looks BRIGHT. Combined with expanded asset management services, we’re creating a bigger, better commercial real estate team to serve our clients locally, regionally and globally.
Meet our new teammates: Elizabeth Moore • Nicholas Barber • Taylor Sims • Jason Park • Carl Sims (back row) Jennifer Levine • Jayne Cayton • Matt Kreft • Lauren Tabeek • Jeremy Foley (front row) For more information or to learn about joining our team, contact Mike Dunn, Market Leader, 702 796 7900
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Gaming association asks presidential candidates to fill out questionnaire By daniel rothberg Staff Writer
Which presidential candidates would be willing to meet with casino employees? Which would take a stand against illegal gambling? And what would be their approach to the daily fantasy sports industry? The American Gaming Association is trying to find answers to these and other inquiries by getting presidential candidates to fill out a questionnaire. The Washington, D.C.-based casino industry trade group said responses to the questionnaire would influence a voter guide it plans to distribute to some 1 million casino employees in 40 states. As part of the association’s Gaming Votes initiative, the questionnaire marks another attempt to ensure casino-related issues are accounted for during the 2016 campaign. Two weeks before the GOP debate in Boulder, Colo., for example, the association staged a casino-focused event that included Republican Sen.
“Before casting their vote, gaming employees need to know where candidates stand on their industry and the most important issues we face.” — Geoff Freeman, president of the American Gaming Association
Cory Gardner of Colorado. And after former Florida Gov. Jeb Bush told a Nevada political journalist, “I don’t like gambling,” the association publicly called on the candidate to move past his opposition. The association’s president, Geoff Freeman, also sent a letter to presidential candidates this summer encouraging them to support gaming. The questionnaire was released about two weeks before Republican candidates’ scheduled debate Dec. 15 at the Venetian. Democratic candidates debated Oct. 3 at Wynn Las Vegas. “Before casting their vote, gaming employees need to know where candidates stand on their industry and
the most important issues we face,” Freeman said in a statement. “While candidates have no shortage of issues to consider and debate, we encourage candidates to take the time to demonstrate their support — through this questionnaire, a back-of-the-house tour and in other ways — for an industry that is creating a path to the middle class for workers of all backgrounds and experiences.” The questionnaire covers a range of issues affecting the casino industry. The first question notes that casinos are highly regulated and asks, “How do you balance the often conflicting needs for regulation and innovation?” Elsewhere in the questionnaire, candidates are asked if they would be
willing to meet with the workers at a casino and about the steps they would take to fight illegal gambling, for example. Candidates are asked about the actions they would take “to support the many immigrants who work in our industry” and are told that “the gaming industry, as part of a broad coalition of business groups, supported the bipartisan immigration legislation that passed the U.S. Senate in 2013.” The questionnaire also addresses one of the industry’s most controversial topics: daily fantasy sports, which have faced increased legal and regulatory pressure amid criticism that it amounts to gambling. The questionnaire calls daily fantasy sports an “exciting new product” but says “state-by-state legal clarity and consumer protections” are necessary to keep the industry successful. Then it asks candidates how they would encourage “the growth of innovative new companies” such as those that offer daily fantasy sports.
10
VEGAS INC dec. 13 - dec. 19
commercial real estate quarterly Send your business-related information to news@vegasinc.com
Fewer underwater mortgage holders, but Las Vegas still at top of the list
UNLV gets green light on $50 million land purchase By ian whitaker
By eli segall Staff Writer
The share of Las Vegas homeowners who are underwater continues to slide, but it remains highest among large U.S. cities, a recent report showed. Among Southern Nevada homeowners with mortgages, 22.1 percent were underwater — meaning their debt outweighs their home’s value — in the third quarter. That’s down from 27.8 percent a year earlier and far below its peak of 71 percent in early 2012, according to Seattle-based Zillow. Despite the improvement, Las Vegas’ current share of upside-down borrowers was highest among the 35 metro areas listed in the report. The rate nationally is 13.4 percent, and in California’s tech-rich Silicon Valley, metro San Jose has the lowest underwater rate, at 3 percent. To sell their home, upside-down borrowers typically have to do a short sale, an often time-consuming, paperwork-heavy
process in which their lender agrees to sell a house for less than what’s owed on the mortgage. Such deals are not guaranteed to be approved, though. Underwater rates typically hover around 2 to 5 percent. But today, several years after the housing market crashed, negative equity is “one of the most persistent reminders” of the real estate collapse and remains “a major barrier to a full recovery in certain markets,” Zillow said. That includes Southern Nevada, a poster child for the boom and bust. According to Zillow, the Las Vegas area has had the highest underwater rate in the country for 4 1/2 years. Meanwhile, the valley’s housing woes are similar to its unemployment problems: The situation has improved, but Las Vegas still lags at the bottom of the pack nationally. The area’s unemployment rate in September was 6.8 percent, down from more than 14 percent in 2010, but according to federal data, it’s highest among the country’s 51 largest metro areas.
Staff Writer
State higher education regents gave UNLV a unanimous go-ahead to purchase a $50 million, 42-acre plot of empty land near campus. The vote put the university one step closer to breaking out of its urban confines, but questions remain as to what the land will be used for. UNLV presented an updated vision for the property to regents that narrowed the choices to either a stadium complex or a campus village. Popular opinion seems firmly on the side of building a replacement for Sam Boyd Stadium, but both options capitalize on the economic benefits of the location’s proximity to the Strip and McCarran International Airport. Both options also include space for retail, which could lead the way to valuable partnerships with local businesses. Early plans also include space for academic programs and even a possible UNLV-themed bar and restaurant. Don’t expect anything to be built anytime soon, though. UNLV doesn’t expect much action on the site, which sits about a half-mile west of the Thomas & Mack Center along Tropicana Avenue, for at least the next few years. In the short term, the university will seek to use the empty space to generate funds from billboard advertisements and events staging for Thomas & Mack Center.
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It’s a no brainer. We don’t turn any child away from treatment. At the Children’s Specialty Center of Nevada we treat all children for life-threatening conditions, including cancer, blood diseases, rare and ultra rare diseases, rheumatology and genetic conditions. We have the most comprehensive collection of Board Certifed Pediatric HematologyOncology physicians of any outpatient clinic in the state. As a member of the Children’s Oncology Group, the leading network of pediatric cancer physicians and treatment centers in the country, our patients have access to the latest research and promising clinical trials. We created the frst Long-Term Follow-Up Clinic for childhood cancer survivors to address their specifc needs and keep them healthy far into the future. We recruited the state’s only physician trained in Pediatric Neuro-Oncology to give patients with brain and spinal cord tumors a level of expertise never available in Nevada before. We are also creating an outpatient Pediatric Palliative Care Program for families whose children are afected by life-limiting conditions. As a nonproft organization, our mission is to provide the best patient care possible to all children, including those without medical insurance or whose familes are unable to pay for treatment. These are our founding principles. We’re local. We’re nonproft. We’re always working to improve treatment options for Nevada’s kids. TO DONATE | Please visit cure4thekids.org or call (702)-732-0232.
Actual Patient: Lillian, 7, diagnosed with Pre B Acute Lymphoblastic Leukemia in 2011 celebrated her last treatment in January 2014.
HEMATOLOGY/ONCOLOGY | RHEUMATOLOGY | BLOOD DISORDERS | RARE AND ULTRA RARE DISEASES GENETIC CONDITIONS | LONG TERM FOLLOW UP FOR CHILDHOOD CANCER SURVIVORS
Jonathan Bernstein, M.D.
Nik Abdul-Rashid, M.D.
Danielle T. Bello, Ph.D.
Cure 4 The Kids Foundation Founder and Medical Director
Board Certifed Pediatric Hematology/Oncology
Psychology/Neuropsychology
Board Certifed Pediatric Hematology/Oncology
Diane E. Brown, M.D. Ph.D. Board Certifed Pediatric Rheumatology
Katherine Marzan, M.D. Board Certifed Pediatric Rheumatology
Alan Ikeda, M.D.
Kanyalakshmi Ayyanar, M.D.
Director of Oncology
Board Certifed Pediatric Hematology/Oncology
Board Certifed Pediatric Hematology/Oncology
Pediatric Neuro-Oncologist
Lisa Majlessi, M.D. Board Certifed Internal Medicine and Rheumatolgy
Nicolo Longo, M.D., Ph.D. Genetics
Waseem Alhushki, M.D.
Arlene Bayreder
Board Certifed Pediatric Hematology/Oncology
Nurse Practitioner
Alexandra Walsh, M.D., MSPH
Angela Berg, DNP, APRN, CPNP
Board Certifed Pediatric Hematology/Oncology
Pediatric Palliative Care Outpatient Program
3121 South Maryland Parkway Third Floor, Suite 300, Las Vegas, NV 89109 702.732.1493 | cure4thekids.org
Congratulations Las Vegas Corporate Executive Challenge Top Participants! Rob Dyer, Sr. Vice President Strategy & Development, HCA Far West Division — THANK YOU LOCAL SPONSORS — Robert Gaynor, Sr. Vice President of Business Development, 4Wall Entertainment Kevin Hayes, President, Arizona Nevada Tower Corporation Mike Randall, Vice President/Chief Operating Officer, Silver State Schools Credit Union Beverly Wortham Reese, Team Believe Deirdre Strunk, Executive Spa Director, Canyon Ranch SpaClub Las Vegas
your Business-to-business news Send your business-related information to news@vegasinc.com
15
VEGAS INC dec. 13 - dec. 19
com m ercial rea l estate, from page 1
‘The band is back together, and that will have to do’ cording to Colliers. The projects mainly are concentrated in North Las Vegas and the southwest valley. Most don’t have tenants. Demand for space, however, appears strong. Southern Nevada had a 5.8 percent third-quarter vacancy rate, down from 8.7 percent a year ago and almost 15 percent in 2010. Business boosters and others have said Las Vegas has a shortage of large industrial buildings. Time will tell, however, if investors are building too quickly and outpacing demand.
On the Strip, two new resorts are in the works but moving slowly, and the mothballed Fontainebleau — a towering reminder of the real estate bust — is up for sale. Meanwhile, the apartment and industrial sectors are heating up as developers flood the valley with new projects. “Southern Nevada’s blood is pumping once again,” John Stater, Las Vegas research manager at brokerage firm Colliers International, wrote in a recent report. “The economy may not have diversified, but the band is back together, and that will have to do for now.” Here’s an overview of what happened this year and what to expect in 2016. The SkyVue project on the south Strip was to include a 500-foot observation wheel,
Office but work stopped and the site is now up for sale. (STEVE MARCUS/staff) Southern Nevada’s office sector is rebounding slowly after getting pumbut carpenters, architects and other Retail meled during the downturn, but it lags workers are back on the job, thanks in In the suburbs, perhaps the most behind other types of real estate. part to the apartment business. anticipated retail project is Ikea’s The third-quarter vacancy rate was Developers are building rental comnew store at Durango Drive and the 18 percent, compared with 19 percent plexes across the valley, mostly in 215 Beltway. The discount-furniture a year earlier, and landlords sought southwest Las Vegas and Henderson. dealer broke ground in April on a an average $1.95 per square foot in About 1,700 units were completed in 351,000-square-foot store scheduled monthly rent, up from $1.88, accord2014, with roughly 5,750 units projectto open in summer 2016. ing to Colliers. ed to open this year and almost 2,000 Near Summerlin, though, Tivoli Construction is limited, although in 2016, CBRE officials have said. Village’s long-planned expansion has proposals are floating around. ForSome industry insiders, however, moved slowly. Management has said est City Enterprises, for instance, has say developers might be overbuildthat upscale home-furnishings store drawn up plans to develop three office ing. Market-wide rental prices have Restoration Hardware plans to open buildings near Las Vegas City Hall. It’s climbed and vacancy rates have there in 2016 but otherwise, it has far from certain, however, that Forest dropped over the past few years, but stayed mum in recent months. City will build anything, and some a glut of new properties could push Discount-clothing chain H&M rereal estate pros questioned why the down prices. That could empty out oldportedly signed a lease for the expancompany was considering such a big er buildings as tenants jump to newer sion site, and a local broker said hotel project — more than 500,000 square properties with more amenities. group Kimpton had been in talks to feet — in a badly bruised market. Investors are buying fewer apartopen there between fall 2016 and Landlords also are trying to sell big ment buildings amid rising prices, spring 2017. chunks of property. Hines Interests though one recent deal stands out. Meanwhile, in the past year or so, and Oaktree Capital Management The 110-unit Vantage Lofts, a stylish, grocery chains Food 4 Less, Hagwant to unload more than 895,000 formerly abandoned project in Hengen and Fresh & Easy closed stores square feet of offices, spread across 18 derson, sold for roughly $38.2 milor unveiled plans to shutter outlets buildings in Summerlin, and Amerilion in September. That amounted in Southern Nevada. Grocery stores can Nevada Company recently listed to $347,000 per unit, more than four often are anchor tenants in shopping 1.3 million square feet of property, times the valley’s current average centers, and if one shuts down, foot mostly in Henderson. The bulk of that sales price of $80,401 per unit. traffic to the plaza drops, potentially portfolio is office space. crimping sales for other retailers. The Hines-Oaktree portfolio is But not every grocer in town is Industrial 92 percent occupied, according to its shrinking. Save-A-Lot debuted a store The other big source of commercial listing broker at CBRE Group. Ameriin August on Charleston Boulevard at construction is industrial property. can Nevada’s portfolio is 84 percent Maryland Parkway, with plans for two But many developers are breaking leased, according to a marketing bromore in Las Vegas by early next year. ground and drawing up plans without chure. (Brian Greenspun, owner of Also, Haggen recently struck deals tenants lined up, a risky approach. VEGAS INC parent company Greensto sell four of its seven local stores as More than 1.7 million square feet of pun Media Group, holds an ownership part of a company-wide purge. warehouse, distribution and other instake in American Nevada.) dustrial space was under construction “The office market may not be pretin Southern Nevada by third quarter’s Multifamily ty, but slowly and surely, it is getting end. Additionally, more than 5.4 milThe construction industry remains things done,” Stater wrote. lion square feet is being planned, aca shadow of what it was last decade,
The Strip The resort corridor, the foundation of Southern Nevada’s economy, isn’t sprouting casinos everywhere, but it had a fair amount of activity this year. In a rewind to the 1990s and 2000s, a hotel was imploded to clear space for a new one. Investor Lorenzo Doumani in February toppled the 12-story Clarion near the Las Vegas Convention Center. He said he plans to replace it with a 60-story hotel. Construction also is underway on Resorts World Las Vegas, a $4 billion Chinese-themed megaresort being built around the skeleton of the onceabandoned Echelon. The resort is slated to open in 2018, but work appears to be slow going. Next door, the two-tower, 1,100room Alon Las Vegas is scheduled to open in 2018, though construction hasn’t begun. Meanwhile, two abandoned construction projects blighting the resort corridor are up for sale. On the north Strip, billionaire Carl Icahn recently listed the 68-story Fontainebleau, which he bought out of bankruptcy in 2010 for $150 million. The tower has sat untouched for years. On the south Strip, investor Howard Bulloch is trying to sell 38.5 acres, including the site of his stalled SkyVue observation wheel. Project plans called for a 500-foot wheel with 32 gondolas, but Bulloch stopped construction a few years ago. The project now consists of two towering, concrete columns sticking out of the ground and little else. If Icahn and Bulloch sell their properties, it could bring life to eyesore parcels. But they’re seeking hefty paydays: Icahn hopes to land about $650 million, and sources say Bulloch wants more than $10 million an acre, or more than $385 million total.
17
VEGAS INC
commercial real estate quarterly
dec. 13 - dec. 19
Send your business-related information to news@vegasinc.com
Calendar of events Monday, dec. 14
income by placing links from officedepot.com on their website.
Associated General Contractors and Nevada Contractors Association: The Finance Park Program Time: 7:30 a.m.-1:45 p.m. Cost: Free Location: Las Vegas Library/Junior Achievement Finance Park, 833 Las Vegas Blvd. North, Las Vegas Information: Call 702-493-1066 Volunteer to help eighth-graders and highschoolers learn money-management skills.
Vegas Investors: Increasing Communication Between Peers, Investors and Customers Time: 6-8:15 p.m. Cost: $5 Location: The InNEVation Center, 6795 Edmond St., Las Vegas Information: Visit meetup.com/vegasinvestors Learn how to improve your communication skills to enhance the success of your business.
CBER 2016 Economic Outlook Time: 8-10:30 a.m. Cost: $100 Location: The M Resort, 12300 Las Vegas Blvd. South, Las Vegas Information: Visit cber.unlv.edu Economic researchers and experts will speak about issues pertaining to Southern Nevada. Vegas Young Professionals Toastmasters meeting Time: 6:30-8 p.m. Cost: Free Location: Las Vegas Metro Chamber of Commerce, 575 Symphony Park Ave., Suite 100, Las Vegas Information: Call 702-586-3834 Learn how to improve your communication skills to further your career. UNLV’s Executive Vice President and Provost Search Candidate Forum: Arthur Ellis Time: 10:45-11:45 a.m. Cost: Free Location: Stan Fulton Building, 4505 S. Maryland Parkway, Las Vegas Information: Call 702-895-3362 Arthur Ellis will discuss his qualifications for the position.
Tuesday, Dec. 15 Las Vegas Metro Chamber of Commerce breakfast Time: 7:30-9 a.m. Cost: Free Location: Office Depot, 10950 W. Charleston Blvd., Suite 110, Las Vegas Information: Visit lvchamber.com Network with professionals and learn about a program that allows business owners to earn
Wednesday, Dec. 16 InterNations.org annual holiday party Time: 5-8 p.m. Cost: Free Location: Del Frisco’s Double Eagle Steakhouse, 3925 Paradise Road, Las Vegas Information: Call 702-326-9235 Expand your network while celebrating the holidays. Happy hour will last until 6:30 p.m.
Thursday, Dec. 17 Henderson Chamber of Commerce: Top 5 Tax Planning Strategies for Small Businesses Time: 7:30-9:30 a.m. Cost: Free for members, $25 for nonmembers, additional $10 for walk-ins Location: Henderson Business Resource Center seminar room, 112 S. Water St., Henderson Information: Call 702-565-8951 Jeffrey Edwards of Piercy Bowler Taylor & Kern will talk about what can be done at the end of the year to pay less in taxes, the top tax changes in 2016 and how the Affordable Care Act may affect taxpayers.
Friday, Dec. 18 Medical marijuana industry educational tour Time: 11:30 a.m.-1 p.m. Cost: $45 for paid members of the Nevada Biotechnology and Science Consortium, $50 for non-paid members, $55 for walk-ins Location: The Apothecary Shoppe, 4240 W. Flamingo Road, Suite 1W, Las Vegas Information: Call 623-256-0503 Visit four dispensaries and a lab while discussing Southern Nevada’s medical marijuana industry.
Monday, Dec. 21 Southern Nevada Forum: Healthcare Committee Time: 8-9:30 a.m. Cost: Free Location: Las Vegas Metro Chamber of Commerce, 575 Symphony Park Ave., Suite 100, Las Vegas Information: Email jawadhams@fclaw.com Join a discussion with Southern Nevada legislators, local government officials and business leaders about health care priorities for the 2017 legislative session.
Tuesday, Jan. 5 MBA information session Time: 5:30-6:30 p.m. Cost: Free Location: UNLV, John S. Wright Hall, Building C, Room 302, 4505 S. Maryland Parkway, Las Vegas Information: Call 702-895-1367 Learn about UNLV’s MBA program, including curriculum, admission requirements and how to prepare for the Graduate Management Admission Test .
Thursday, Jan. 7 Urban Chamber of Commerce Toastmasters lunchtime Time: 12-1 p.m. Cost: Free Location: Urban Chamber of Commerce, 1951 Stella Lake St., Suite 30, Las Vegas Information: Visit business.urbanchamber.org Learn how to communicate more effectively with staff and customers, and improve your networking skills.
Thursday, Jan. 14 Las Vegas Metro Chamber of Commerce: Cocktails and Conversations Time: 5-7 p.m. Cost: $100 Location: MGM, 3799 Las Vegas Blvd. South, Las Vegas Information: Call 702-586-3846 Local leaders will speak about issues affecting Nevada and its business community. The event also is a fundraiser for BizPAC, the chamber’s political action committee.
Conventions
expected Show Location Dates attendance
23rd annual World Congress on Anti-Aging
Venetian
Dec. 10-13
1,000
Las Vegas Numismatic Society — The Vegas Coin and Jewelry Show
Westgate
Dec. 11-13
3,000
National Groundwater Expo and Annual Meeting
Las Vegas Convention Center
Dec. 16-18
4,500
Dec. 18-20
1,000
Bick International — Coin, Currency, Jewelry and Stamp Expo Orleans
18
VEGAS INC
commercial real estate quarterly
dec. 13 - dec. 19
Send your business-related information to news@vegasinc.com
Records and Transactions Bankruptcies Chapter 7 RLP-Teal Ridge Hills DR LLC 316 Lingering Lane Henderson, NV 8901
CHAPTER 11 Greensboro LLC 6830 S. Rainbow Blvd., Suite 200-F Las Vegas, NV 89118 Attorney: David Mincin at dmincin@lawlasvegas.com
Bid Opportunities MOnDAY, DEC. 14 2:15 p.m. Desert Inn Park and Duck Creek Park: Playground safety surface replacement Clark County, 603898 Sandy Moody-Upton at scm@ clarkcountynv.gov
THURSDAY, DEC. 17 3 p.m. Continuity of operations/continuity of government planning Clark County, 603901 Jim Haining at jhaining@clarkcountynv.gov
FRIDAY, DEC. 18 2:15 p.m. Rainbow Boulevard, Cactus Avenue to Blue Diamond Road Clark County, 603846 Tom Boldt at tboldt@clarkcountynv.gov
Brokered transactions SALES $32,500,000 for 184 units and 230 units, residential Address: 2750 S. Durango Drive, Las Vegas 89117 and 2120 Ramrod Ave., Henderson 89014 Seller: Optimus Dolce LLC and Optimus Solevita LLC Seller agent: Patrick Sauter and Art Carll of NAI Vegas Sauter Multifamily Team Buyer: Pacifica Cos. LLC and Pacifica Solevita Buyer agent: Patrick Sauter and Art Carll of NAI Vegas Sauter Multifamily Team $28,250,000 for 670 units, residential Address: 5421 E. Harmon Ave., Las Vegas 89122 Seller: Blue Valley Apartments Inc. Seller agent: Patrick Sauter, Art Carll and Jerad Roberts of NAI Vegas Buyer: 670 Vegas Apartments Buyer agent: Patrick Sauter, Art Carll and Jerad Roberts of NAI
Vegas $4,500,000 for 3.34 acres, land Address: 3612-3660 Valley View, Las Vegas 89103 Seller: Valley View Merchant Irrevocable Business Trust Seller agent: Soozi Jones Walker and Bobbi Miracle of Commercial Executives Real Estate Services Buyer: 3439 W. Cahuegna LLC Buyer agent: Did not disclose $4,500,000 for 4,000 square feet, industrial Address: South Valley View Boulevard and West Train Avenue, Las Vegas 89103 Seller: Valley View Merchant Irrevocable Business Trust Seller agent: Soozi Jones Walker of Commercial Executive Real Estate Buyer: Several buyers Buyer agent: Troy Tobler of Virtus Commercial $1,275,000 for 6,958 square feet, retail Address: 830 S. Fourth St., Las Vegas 89101 Seller: Yamanaka Enterprises Inc. Seller agent: David Grant and Phillip Dunning of Colliers International Buyer: RR Properties LLC Buyer agent: Did not disclose
Landlord agent: Benjamin Santoli of Santoli Realty Tenant: Super Care Tenant agent: Brian Bolanowski of Virtus Commercial
BUSINESS LICENSES Daniela’s Cleaning Service License type: Property maintenance and residential property maintenance Address: 401 Frederick Ave., Las Vegas 89106 Owner: Daniela’s Cleaning Services LLC Darwin Myers License type: Real estate sales Address: 1820 E. Sahara Ave., Suite 101, Las Vegas 89104 Owner: Darwin Myers Diana Henry License type: Designer draftsman Address: 1349 W. Horizon Ridge Parkway, Suite 1328, Las Vegas 89012 Owner: Diana Henry Dianna R. Brown License type: Real estate sales Address: 10000 W. Charleston Blvd., Suite 130, Las Vegas 89145 Owner: Dianna R. Brown
$550,000 for 2,600 square feet, retail Address: 22-26 W. Pacific Ave., Henderson 89015 Seller: Ranpat Alliance Limited Seller agent: Dan Doherty, Susan Borst, Chris Lane, Jerry Doty and David Grant of Colliers International Buyer: 22 W. Pacific LLC Buyer agent: Did not disclose
Dickinson Wright PLLC License type: Professional services Address: 8363 W. Sunset Road, Las Vegas 89113 Owner: Michael N. Feder
$530,000 for 1.93 acres, land Address: 9575 S. Decatur Blvd., Las Vegas 89139 Seller: Donald Adam Deemer Seller agent: Did not disclose Buyer: Mosaic Land Fund LLC and Investor Equity Homes LLC Buyer agent: Vince Schettler
Distinctive Exteriors Pools LLC License type: Contractor Address: 6625 S. Valley View Blvd., Las Vegas 89118 Owner: Distinctive Exteriors Inc.
LEASES $91,134 for 996 square feet for 63 months, retail Address: 4750 W. Sahara Ave., Suite 16, Las Vegas 89102 Landlord: Sahara 3D LLC Landlord agent: Nelson Tressler and Michael Zobrist of Newmark Grubb Knight Frank Tenant: Marketing Gurus Inc. dba Eyebrows R Us Tenant agent: Dave Neuenkirch of the Commercial Group $41,412 for 2,100 square feet for 25 months, industrial Address: 3625 W. Teco Ave., Suite 8, Las Vegas 89118 Landlord: Consilum Magnum LLC
Direct Rent A Car License type: Rental car agency Address: 3720 W. Desert Inn Road, Suite 201, Las Vegas 89102 Owner: Direct Rent A Cars
Division 7 Construction Inc. License type: Contractor Address: 2773 Montgomery St., Las Vegas 35209 Owner: Thomas Champagne Dog Sport Supply Co. License type: General retail sales Address: Did not disclose Owner: Dog Sport Supply Co. LLC Dr. Von Houligan’s Carnival of Calamities License type: Professional promoter Address: 27 Highwood Blvd., Las Vegas Owner: Allister Denton Eastern Check Cashing License type: General retail sales Address: 1560 N. Eastern Ave., Suite W1b, Las Vegas 89101
Owner: Young Hee Han Economy Self Storage License type: Storage center Address: 3400 Meade Ave., Las Vegas 89102 Owner: JDBC Enterprises LLC Ed’s Decatur AM PM License type: Gas station Address: 850 N. Decatur Blvd., Las Vegas 89107 Owner: Ed’s Stations Inc. Eduardo Land Services License type: Residential property maintenance Address: 4795 E. Twain Ave., Las Vegas 89121 Owner: Eduardo Garcia-Rodriguez Elegante Banquet Hall License type: Banquet hall Address: 3020 E. Bonanza Road, Suite 110, Las Vegas 89101 Owner: Bonanza Mojave LLC Elysian at The District License type: Apartment house Address: 2151 Village Walk Drive, Henderson 89012 Owner: District Apartment Land LLC Emerald Medical Supplies License type: General retail sales Address: 5243 W. Charleston Blvd., Suite 9, Las Vegas 89146 Owner: Emerald Lake Inc. Emmily P. Kearney License type: Real estate sales Address: 7181 N. Hualapai Way, Suite 135, Las Vegas 89166 Owner: Emmily Kearney ES Design License type: Contractor Address: Did not disclose Owner: Soebbing Flooring Inc. ESV License type: Valet parking Address: 2100 Fremont St., Las Vegas 89101 Owner: Bryant Azcorra Eurest Dining Services License type: Event planning Address: 400 Stewart Ave., Las Vegas 89101 Owner: Compass LV LLC Events With a Twist LLC License type: Event planning Address: 401 S. Fourth St., Las Vegas 89101 Owner: Jennifer K. Colacion
Address: 1102 Fremont St., Las Vegas 89101 Owner: Family Food Mart Partnership Famous Pioneer License type: Club Address: 25 Fremont St., Las Vegas 89101 Owner: G&G Fremont LLC Fast & EZ Self Storage Inc. License type: Storage facility Address: 4623 N. Lamb Blvd., North Las Vegas 89115 Owner: Fast & EZ Self Storage Inc. Fiao Productions LLC License type: General services counter/office Address: Did not disclose Owner: Thomas Rubin Filler Up Financial Services License type: Automated teller operator Address: 6118 W. Charleston Blvd., Las Vegas 89107 Owner: Filler-Up ATM Services LLC Fitwize 4 Everyone License type: Group exercise Address: 930 Wembly Hills Place, Henderson 89011 Owner: Angelie L. Robin Bell Flogal Landscaping and Maintenance License type: Residential property maintenance Address: Did not disclose Owner: Julio Flores Food Express License type: Restaurant Address: 2003 S. Decatur Blvd., Suites B and C, Las Vegas 89102 Owner: Brother Food Express LLC Forever Young Intellectual Property LLC License type: Manufacturing business Address: 111 Corporate Park Drive, Henderson 89074 Owner: Forever Young Intellectual Property LLC Fun Zone License type: Children’s fun center Address: 5929 Big Horn View St., North Las Vegas 89031 Owner: Jonatan U. Aguilar Gevork (George) Toumaian License type: Real estate sales Address: 9420 W. Sahara Ave., Suite 100, Las Vegas 89117 Owner: Gevork (George) Toumaian
Eyebrows R Us License type: General services counter/office Address: 7591 W. Washington Ave., Suite 130, Las Vegas 89128 Owner: Marketing Gurus Inc.
Glitterati Weddings & Events LLC License type: Wedding planning Address: Did not disclose, Las Vegas 89144 Owner: Neda Pazuki
Family Food Mart License type: Grocery store
GM National Tax Services License type: Business support
19
VEGAS INC
commercial real estate quarterly
dec. 13 - dec. 19
Send your business-related information to news@vegasinc.com
Records and Transactions service Address: 4375 Stewart Ave., Suite 117, Las Vegas 89110 Owner: GM National Tax Services LLC GNC License type: Health food store Address: 25 E. Horizon Ridge Parkway, Suite 100, Henderson 89012 Owner: Coronet Aria Corp. Got Paint LLC License type: Contractor Address: 3999 Ponderosa Way, Las Vegas 89118 Owner: Got Paint LLC Grind Mode Arco License type: Gas station Address: 2901 N. Rancho Drive, Las Vegas 89108 Owner: Grind Mode 2 LLC H&R Block License type: Business support service Address: 2810 W. Charleston Blvd., Suite E49, Las Vegas 89107 Owner: HRB Tax Group Inc. Holiday Sales Inc. License type: Temporary merchant Address: 510 S. Rampart Blvd., Las Vegas 89145 Owner: Realty Holdings Ltd. Housekeeping Montes License type: Property maintenance Address: 3823 S. Maryland Parkway, Suite M12, Las Vegas 89119 Owner: Jenny Montes Hub Las License type: Management or consulting service Address: 2307 Thayer Ave., Las Vegas 89074 Owner: Akwyre Inc. Icon Integrated LLC License type: Contractor Address: 1570 Foothill Drive, Boulder City 89005 Owner: Javanna Conover Ignacio’s Car Wash License type: Automobile detailing Address: Did not disclose Owner: Elizabeth Castillo Illusion Projects Inc. License type: General retail sales Address: 4670 W. Post Road, Suite 120; 2620 Regatta Drive, Suite 111; 2620 Regatta Drive, Suite 114; 2620 Regatta Drive, Suite 119, Las Vegas 89118 Owner: Holly Clothier Integrated Financial and Tax Services License type: Tax service Address: 1481 W. Warm Springs Road, Suite 130, Henderson 89014 Owner: JFR Consulting Group Inc.
Island Girls Cleaning Service License type: Property maintenance Address: 2617 N. Lake Martin Court, North Las Vegas 89031 Owner: Island Girls Cleaning Service LLC Ivory Salon & Extension License type: Cosmetics Address: 7760 W. Sahara Ave., Las Vegas 89117 Owner: Patkvegas LLC Jacqueline Reynolds License type: Real estate sales Address: 1215 S. Fort Apache Road, Suite 210, Las Vegas 89117 Owner: Jacqueline Reynolds Jake’s Bar License type: Restaurant Address: 2301 S. Eastern Ave., Las Vegas 89104 Owner: Doc G & G Inc. James V. Alamillo License type: Real estate sales Address: 9525 Hillwood Drive, Suite 120, Las Vegas 89134 Owner: James V. Alamillo Jesse Bullock License type: Solicitor Address: 2804 Brown Circle, Las Vegas 89107 Owner: Did not disclose
Vegas 89145 Owner: Las Vegas Mold Test LLC Las Vegas Retreats LLC License type: Marketing/consulting service Address: 120 Quail Run Road, Henderson 89014 Owner: Las Vegas Retreats LLC Las Vegas Valet LLC License type: Valet parking Address: 6767 W. Tropicana Ave., Las Vegas 89118 Owner: Janna Minassian Lash Spa Studio License type: Spa studio Address: 10545 S. Eastern Ave., Suite 130, Henderson 89052 Owner: Rozanc Lash Spa Studio LLC Laugh Often Photography License type: Photography studio Address: 3024 Country Dancer Ave., North Las Vegas 89081 Owner: Nichole R. Schwirian Legal Resource Group, LLC License type: Professional services Address: 229 Las Vegas Blvd. South, Suites 205 and 206, Las Vegas 89101 Owner: Thomas A. Claus
BUILDING PERMITS
Jessy House Cleaning License type: Janitorial service Address: 2714 N. Bruce St., North Las Vegas 89030 Owner: Jessica Tamayo Orozco
$900,000, tenant improvement restaurant 750 S. Rampart Blvd., Suite 3, Las Vegas Gillett Construction LLC
Jinga Marketing LLC License type: Consulting service Address: 9550 S. Eastern Ave., Suite 253, Henderson 89074 Owner: Jinga Marketing LLC
$735,000, tenant improvement offices 6029 W. Charleston Blvd., Las Vegas Momeni & Associates Inc.
John Floyd Painting LLC License type: Property maintenance Address: 4602 Cannon Beach St., Las Vegas 89122 Owner: John Floyd Painting
$525,000, tenant improvement - store 1112 S. Commerce St., Las Vegas Anderson Group
Jones Media LLC License type: Contractor Address: 4145 W. Teco Ave., Las Vegas 89118 Owner: Jones Media LLC Joshua Pinnau License type: Solicitor Address: 2804 Brown Circle, Las Vegas 89107 Owner: Did not disclose Kris Williams License type: Real estate sales Address: 1925 Village Center Circle, Suite 150, Las Vegas 89134 Owner: Kris Williams Las Vegas Mold Testing License type: Professional services Address: Did not disclose, Las
$499,995, commercial - remodel 58 N. Pecos Road, Henderson Pecos Health LLC $436,814, roof-mounted photovoltaic system 6345 Formula Way, Las Vegas SolarCity Corp. $378,000, tenant improvement educational building 701 N. Pecos Road, Las Vegas B&H Construction Inc. $350,000, tenant improvement offices 250 Spectrum Blvd., Las Vegas Gilbane Building Co. $258,098, single-family residential - production 1628 Quartz Ledge Court, Las Vegas
D.R. Horton Inc.
KB Home LV Pearl Creek LLC
$205,719, residential - complete 17 Vista Outlook St., Henderson William Lyon Homes Inc.
$134,760, single-family residential - production 32 Berneri Drive, Las Vegas Pulte Homes of Nevada
$199,982, commercial - remodel 9480 S. Eastern Ave., Suite 185, Henderson Park Place III LLC $184,981, residential - production 1153 Hillside Peak St., Henderson PN II Inc. $180,664, commercial - alteration 3985 W. Cheyenne Ave., North Las Vegas J.S. Leavitt Enterprises Inc. $179,547, residential - complete 15 Vista Outlook St., Henderson William Lyon Homes Inc. $176,331, residential - production 117 Kirkcaldy St., Henderson D.R. Horton Inc. $176,331, residential - production 880 Maybole Ave., Henderson D.R. Horton Inc. $173,281, residential - complete 13 Vista Outlook St., Henderson William Lyon Homes Inc. $166,255, single-family residential - production 5604 Koda Court, Las Vegas Fidelis Builders $165,241, residential - production 113 Kirkcaldy St., Henderson D.R. Horton Inc. $157,019, single-family residential - production 343 Rezzo St., Las Vegas Pulte Homes of Nevada $154,151, residential - production 105 Kirkcaldy St., Henderson D.R. Horton Inc. $153,058, single-family residential - production 9961 Ramps Leap Ave., Las Vegas Woodside Homes of Nevada LLC $143,061, residential - production 109 Kirkcaldy St., Henderson D.R. Horton Inc. $142,950, residential - production 2130 Emyvale Court, Henderson KB Home Inspirada LLC $140,924, single-family residential - production 11853 Tavema Ave., Las Vegas Pulte Homes of Nevada $137,294, residential - production 693 Tidal Flats St., Henderson KB Home LV Pearl Creek LLC $137,294, residential - production 710 Coastal Lagoon St., Henderson
$134,760, single-family residential - production 44 Berneri Drive, Las Vegas Pulte Homes of Nevada $132,796, single-family residential - production 36 Berneri Drive, Las Vegas Pulte Homes of Nevada $132,796, single-family residential - production 40 Berneri Drive, Las Vegas Pulte Homes of Nevada $131,315, single-family residential production 10581 Leroux Court, Las Vegas Richmond American Homes of Nevada $131,315, single-family residential - production 6407 Dunns River St., Las Vegas Richmond American Homes of Nevada $130,743, single-family residential - production 11839 Spadari Court, Las Vegas Pulte Homes of Nevada $130,584, residential - production 533 Cadence View Way, Henderson Richmond American Homes of Nevada $123,091, single-family residential - remodel 116 Colantonio Court, Las Vegas Pulte Homes of Nevada $115,372, residential - new 103 Heathrow Lake Ave., North Las Vegas Woodside Homes of Nevada LLC $113,727, residential - production 868 Via Serenelia, Henderson Greystone Nevada LLC $113,173, residential - production 2124 Via Firenze, Henderson KB Home Inspirada LLC $100,475, residential - production 2122 Via Firenze, Henderson KB Home Inspirada LLC $100,000, tenant improvement - hotel 600 Fremont St., Las Vegas ABG Builders To receive a complete copy of Data Plus every week in Excel, please visit vegasinc.com/subscribe.
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22
VEGAS INC
your Business-to-business news
dec. 13 - dec. 19
Send your business-related information to news@vegasinc.com
The List
Category: nonprofit organizations (Ranked by revenue for most recently completed tax period)
Name
Revenue
Assets
Income
Top executive
Roseman University of Health Sciences 11 Sunset Way Henderson, NV 89014
$109,525,635
$156,259,391
$111,800,963
Renee Coffman, president and co-founder
2
Three Square 4190 N. Pecos Road Las Vegas, NV 89115
$61,184,127
$30,694,093
$61,653,434
Brian Burton, president and CEO
3
Home Means Nevada Inc 2250 Las Vegas Blvd. North, Suite 600 North Las Vegas, NV 89030
$49,003,261
$99,639,784
$49,003,261
CJ Manthe, president
4
University of Nevada School of Medicine 1701 W. Charleston Blvd. Las Vegas, NV 89102
$32,851,388
$13,512,896
$32,851,388
Thomas Schwenk, dean
5
Goodwill Industries of Southern Nevada Inc. 1280 W. Cheyenne Ave. North Las Vegas, NV 89030
$32,185,513
$9,911,147
$32,506,316
Steve Chartrand, president and CEO
6
The Smith Center for the Performing Arts 361 Symphony Park Ave. Las Vegas, NV 89106
$30,728,610
$445,404,620
$81,437,046
Myron Martin, president and CEO
7
Nathan Adelson Hospice Inc. 4141 Swenson St. Las Vegas, NV 89119
$28,653,204
$21,389,674
$28,653,204
Carole Fisher, president and CEO
8
Opportunity Village 6050 S. Buffalo Drive Las Vegas, NV 89113
$27,210,961
$37,592,844
$29,099,803
Robert Brown, president
9
University of Nevada School of Medicine Multi-Speciality Group Practice 2040 W. Charleston Blvd., Suite 400 Las Vegas, NV 89102
$24,916,807
$0
$24,916,807
Thomas Schwenk, dean
Boulder City Hospital Inc. 901 Adams Blvd. Boulder City, NV 89005
$21,912,196
$26,005,451
$21,942,598
Tom Maher, CEO
United Way of Southern Nevada Inc. 5830 W. Flamingo Road Las Vegas, NV 89103
$21,103,607
$9,001,110
$21,118,930
Bob Morgan, president and CEO
12
Nevada Family Practice Residency 4000 E. Charleston Blvd., Suite 230 Las Vegas, NV 89104
$20,741,443
$15,249,000
$20,741,443
Did not disclose
13
Alliance for Childhood Diseases 3121 S. Maryland Parkway, Suite 601 Las Vegas, NV 89109
$20,530,835
$17,536,078
$20,530,835
Annette Logan, executive director
14
Meadows School 8601 Scholar Lane Las Vegas, NV 89128
$20,443,433
$61,741,273
$31,254,751
Jeremy Gregersen, head of school
15
Catholic Charities of Southern Nevada 1501 Las Vegas Blvd. North Las Vegas, NV 89101
$20,082,720
$21,379,477
$22,276,400
Joseph Pepe, chairman
16
Nevada Donor Network Inc. 2061 E. Sahara Ave. Las Vegas, NV 89104
$19,415,064
$12,818,213
$19,415,064
Joseph Ferreira, CEO
17
Las Vegas-Clark County Urban League 3575 W. Cheyenne Ave. North Las Vegas, NV 89032
$16,706,041
$2,988,305
$16,752,873
Kevin Hooks, CEO
18
Western Veterinary Conference 2425 E. Oquendo Road Las Vegas, NV 89120
$14,426,071
$18,736,863
$14,426,071
Dr. Randall Ezell, president
1
10 11
Source: Internal Revenue Service and VEGAS INC research. It is not the intent of this list to endorse the participants or to imply that the listing of a company indicates its quality. Although every attempt is made to ensure the accuracy and thoroughness of VEGAS INC charts, omissions sometimes occur and some businesses do not respond. Please send corrections or additions on company letterhead to Julie Ann Formoso, research associate, VEGAS INC, 2360 Corporate Circle, Third Floor, Henderson, NV 89074.
23
VEGAS INC
your Business-to-business news
dec. 13 - dec. 19
Send your business-related information to news@vegasinc.com
The List
Category: SBA Lenders (Ranked by loan volume compiled from Oct. 1, 2014, to Sept. 30, 2015) 2015 loan volume
2015 loans
2014 loan volume
2014 loans
Wells Fargo Bank 3800 Howard Hughes Parkway, Second Floor Las Vegas, NV 89109 702-791-6370 • WellsFargo.com
$35,152,600
136
$25,636,100
75
2
Meadows Bank 8912 Spanish Ridge Ave. Las Vegas, NV 89148 702-471-2265 • MeadowsBank.com
$26,315,100
29
$15,480,700
19
3
JPMorgan Chase Bank 9911 W. Charleston Blvd., Suite 1 Las Vegas, NV 89117 702-938-0050 • Chase.com
$13,409,600
37
$5,117,700
23
4
Seacoast Commerce Bank 7436 Oak Grove Ave. Las Vegas, NV 89117 702-538-7841 • SCCombank.com
$12,948,698
24
$16,535,400
21
5
Live Oak Banking Co. 1741 Tiburon Drive Wilmington, NC 28403 877-890-5867 • LiveOakBank.com
$8,087,000
9
$770,000
2
6
East West Bank 4711 Spring Mountain Road Las Vegas, NV 89102 702-475-6111 • eastwestbank.com
$8,071,000
9
$6,095,000
12
7
U.S. Bank 2300 W. Sahara Ave., First Floor Las Vegas, NV 89102 702-251-1600 • USBank.com
$6,781,200
119
$6,341,300
88
8
Royal Business Bank 3919 Spring Mountain Road Las Vegas, NV 89102 702-405-2543 • rbbusa.com
$6,257,000
5
-
-
9
Celtic Bank Corp. 268 S. State St., Suite 300 Salt Lake City, UT 84111 801-363-6500 • CelticBank.com
$6,219,700
26
$3,140,000
12
Newtek Small Business Finance Inc. 212 W. 35th St., Second Floor New York, NY 10123 Did not disclose • thesba.com
$5,364,300
3
-
-
United Community Bank 177 Highway 515E Blairsville, GA 30512 Did not disclose • ucbi.com
$5,000,000
2
-
-
12
First Bank Financial Centre 155 W. Wisconsin Ave. Oconomowoc, WI 53066 Did not disclose • fbfcwi.com
$4,542,300
3
-
-
13
Pacific City Bank 3701 Wilshire Blvd., Suite 401 Los Angeles, CA 90010 Did not disclose • paccity.net
$4,540,000
1
-
-
14
Nevada State Bank 6505 N. Buffalo Drive Las Vegas, NV 89131 702-515-2312 • NSBank.com
$4,250,100
29
$6,112,073
25
15
Redding Bank of Commerce 1177 Placer St. Redding, CA 96001 Did not disclose • reddingbankofcommerce.com
$2,993,200
2
$485,000
1
Company
1
10 11
Source: US Small Business Administration and VEGAS INC research. It is not the intent of this list to endorse the participants or to imply that the listing of a company indicates its quality. Although every attempt is made to ensure the accuracy and thoroughness of VEGAS INC charts, omissions sometimes occur and some businesses do not respond. Please send corrections or additions on company letterhead to Julie Ann Formoso, research associate, VEGAS INC, 2360 Corporate Circle, Third Floor, Henderson, NV 89074.
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