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vegasinc.com | March 27 - April 2, 2016

Michael Newman, managing director of CBRE Las Vegas, says 2016 could be the best year the company has had in a decade. (UNLV Photo Services)

Las Vegas’ return to normalcy Several years after the recession changed the real estate landscape, firms are optimistic about the future By Howard Riell | SPECIAL TO VEGAS INC

Those in the know in Las Vegas’ commercial real estate industry say they are cautiously optimistic about the performance of their industry in 2016. ¶ Michael Newman is one of them. Newman is managing director of the Las Vegas office of CBRE Group, the world’s largest commercial real estate services and investment firm. The cb re, Continued on page 15

21%

Share of Americans who are “very confident” they’ll have enough money to live comfortably throughout their retirement, according to the 2016 Retirement Confidence Survey.

4,269

Number of breweries operating in the United States at the end of 2015, according to the Brewers Association. The count surpassed the record set in 1873.

VEGAS INC

MARCH 27-APRIL 2

CONTENTS GROUP PUBLISHER Gordon Prouty ASSOCIATE PUBLISHER Breen Nolan

EDITORIAL

NOTEWORTHY STORIES

05 06 18 Q&A WITH MICHAEL SHOHET

The president of the Southern Nevada chapter of the commercial real estate development association NAIOP discusses taxes, the availability of land in Nevada and his passion for skiing and music. THE NOTES People on the move, P4

MEET: RESORTCIERGE MD Tyra Bell-Holland launched her business this year, connecting patients with doctors who are willing to perform house calls. Although tourists make up the majority of her clients, residents are starting to find out about the service, too. TALKING POINTS How to measure and improve a building’s performance, P7

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: Commercial real estate brokers, P22

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) STAFF WRITERS Kailyn Brown, Julie Ann Formoso, Chris Kudialis, Megan Messerly, J.D. Morris, Daniel Rothberg, Cy Ryan, Eli Segall, Ricardo Torres-Cortez, Jackie Valley, 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

ART ASSOCIATE CREATIVE DIRECTOR Liz Brown (liz.brown@gmgvegas.com) DESIGNER LeeAnn Elias PHOTO COORDINATOR Mikayla Whitmore PHOTOGRAPHERS L.E. Baskow, Christopher DeVargas, Steve Marcus

ADVERTISING ASSOCIATE PUBLISHER OF ONLINE MEDIA Katie Horton GROUP DIRECTOR OF SALES OPERATIONS Stephanie Reviea PUBLICATION COORDINATOR Denise Arancibia DIRECTOR OF SPECIAL PUBLICATIONS Jeff Jacobs EXTERNAL CONTENT MANAGER Emma Cauthorn BUSINESS DEVELOPMENT SPECIALIST Sandra Segrest ACCOUNT MANAGERS Katie Harrison, Dawn Mangum, Sue Sran ADVERTISING MANAGERS Jim Braun, Brianna Eck, Frank Feder, Kelly Gajewski, Justin Gannon, Chelsea Smith, Tara Stella GREENSPUN MEDIA GROUP SALES ASSISTANT Steph Poli

MARKETING & EVENTS EVENT MANAGER Kristin Wilson DIGITAL MARKETING MANAGER Jackie Apoyan

PRODUCTION VICE PRESIDENT OF MANUFACTURING Maria Blondeaux ASSISTANT PRODUCTION DIRECTOR Paul Huntsberry PRODUCTION MANAGER Blue Uyeda PRODUCTION ARTIST Marissa Maheras, Dara Ricci ART DIRECTOR Sean Rademacher GRAPHIC DESIGNERS Michele Hamrick, Dany Haniff TRAFFIC SUPERVISOR Estee Wright TRAFFIC COORDINATORS Kim Smith, Meagan Hodson

CIRCULATION DIRECTOR OF CIRCULATION Ron Gannon ROUTE MANAGER Joel Segler

GREENSPUN MEDIA GROUP CEO, PUBLISHER & EDITOR Brian Greenspun CHIEF OPERATING OFFICER Robert Cauthorn EXECUTIVE EDITOR Tom Gorman MANAGING EDITOR Ric Anderson CREATIVE DIRECTOR Erik Stein

VOLUME 3, ISSUE 12 Vegas Inc (USPS publication no. 15540), 2275 Corporate Circle, Suite 300, Henderson, NV 89074 is published every Sunday except the first Sunday of the year by Greenspun Media Group. Periodicals Postage Paid at Henderson, NV and at additional mailing offices. POSTMASTER: SEND ADDRESS CHANGES TO: Vegas Inc 2275 Corporate Circle Suite 300 Henderson, NV 89074 702.990.2545

(LAS VEGAS SUN ARCHIVES)

VINTAGE VEGAS: SHOWBOAT WAS CASTAWAY A DECADE AGO Located at Fremont Street and Boulder Highway, the Showboat opened in 1954 and had a 50-year run. During the 1980s, the property was a hot spot for sporting events, including professional bowling tournaments and bigname boxing matches. Pictured here is an exterior shot of hotel on June 24, 1981.

The hotel-casino had several owners and was bought by Harrah’s Entertainment in 1998. It was sold two years later to VSS Enterprises and renamed Castaways. The property was acquired by Station Casinos in 2004 after owners filed for bankruptcy, then imploded on Jan. 11, 2006. — REBECCA CLIFFORD-CRUZ

For inquiries, write to: Vegas Inc 2275 Corporate Circle, Suite 300 Henderson, NV 89074 For back copies: Doris Hollifield at 702.990.8993 or e-mail at doris.hollifield@gmgvegas.com For subscriptions and customer service: Call 818-487-4538, or visit vegasinc.com. For annual subscriptions, $50. For single copies, $3.99.

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commercial real estate quarterly

march 27-April 2

Send your business-related information to news@vegasinc.com

Nicole Ward is multifamily regional manager at Virtus Residential. She oversees multifamily and micro-living residences downtown.

ture Real Estate Group; Craig Tann, BHHS Nevada Properties; David J. Tina, Urban Nest Realty; Sandy Van, Simply Vegas; and Zar A. Zanganeh, Luxe Estates & Lifestyles.

service to local and state associations. Joel Panduro joined the Nevada Rural Housing Authority as a Southern Nevada Home at Last specialist.

Joanna Opena of Walker Engineering was promoted to civil engineer I and was selected as ward a developing leader by NAIOP Southern Nevada. Jacob Deavers was promoted to designer EI I. Brady Guzman was promoted to CADD designer I. Christopher McGarey, a longtime board member and leader of the Commercial Alliance Las Vegas, received a 2015 National Commercial Award from the National Association of Realtors. McGarey works at Berkshire Hathaway Home Services – Nevada Properties, leading mcgarey the firm’s top commercial real estate team and handling commercial and residential investment property management and leasing. The Nevada Association of Realtors named Kevin Sigstad its 2015 Nevada Realtor of sigstad Cartinella the Year. Sigstad served as the association’s 2015 president after being presidentelect in 2014. Sher- reese herwick rie Cartinella won the Nevada Distinguished Realtor Award for ongoing and consistent service to the association and the real estate profession. Pam Reese won the Realtor Active in Politics Award for governmentaffairs advocacy and activities. Rosa Herwick won the Joe Nolan Award recognizing spirit, passion and professionalism. She is a past president of the Nevada Association of Realtors and the Greater Las Vegas Association of Realtors. Greg Martin won the Realtor Achievement Award for outstanding

The Greater Las Vegas Association of Realtors and its Young Professionals Network of Las Vegas announced the panduro winners of their annual 40 Under 40 awards. They are Tina Africk, iProperties International; Frank Aguilar, ERA Herman Group Real Estate; Todd Akes, RE/MAX Advantage; William J. Alt, Wynn Realty Group; Marco A. Chaidez Jr., Next Level Realty; Jay J. Cooper, Coldwell Banker Premier; Christina Cova-Simmons, BHHS Nevada Properties; Huong Dam, Coldwell Banker Premier; Amber M. DeLillo, iProperties International; Andrew Dionne, Barrett and Co.; Darwin S. Dizon, Pordes Residential Sales; Sherwin Escanuela, Luxe Estates & Lifestyles; Edgar Escobedo, First Mutual Realty Group; Jim C. Fong, Keller Williams Realty Southwest; Robert Gluskin, Signature Real Estate Group; Sevak Grigor, Platinum R.E. Professionals; Randy K. Hatada, Xpand Realty & Property Management; Serena M. Heuser, Realty ONE Group; Jonathan Jacobs, Simply Vegas; Sara H. Jessa, Urban Nest Realty; Steven A. Khalilzadegan, Savi Realty; Ryan King, King Realty Group; Eric A. Kruger, Windemere Prestige Properties; Joseph Y. Lee, eProNet Realty; Omar A. Lopez, BHHS Nevada Properties; Melissa G. Machat, BHHS Nevada Properties; Alexandra Malenkina, Nevada Realty Experts; Holly Marquardt, All Vegas Valley Realty; Olga McDowell, Pordes Residential Sales; James J. McGuire, Signature Real Estate Group; Charmaine Prospero, Northcap Residential; Georgia Purpura, Keller Williams Realty Southwest; Yared Rivera, Realty ONE Group; Krystal A. Sherry, Hudson Real Estate; Robert Andy Stahl, Strategic Realty; Sasha Terry, Platinum R.E. Professionals; Angela K. Tina, Urban Nest Realty; Pete Torsiello, Signature Real Estate Group; Julie C. Youngblood, Keller Williams Realty Southwest; and Geoffrey S. Zahler, Zahler Properties. The associations also inducted 14 members into the 40 Under 40 Hall of Fame: Lianna L. Alvarez, Urban Nest Realty; Mahshid Barghisavar, Realty ONE Group; Jillian M. Batchelor, Realty ONE Group; Stephanie Dibbs, Luxe Estates & Lifestyles; Matt Farnham, Crown Point Realty; Ashley Hawks, Black & Cherry Real Estate; Azim Jessa, Urban Nest Realty; Anthony Knight, Platinum R.E. Professionals; Geoffrey W. Lavell, Realty ONE Group; Heather Mongie, Signa-

Heidi Kasama is the Greater Las Vegas Association of Realtors’ Realtor of the Year. Kasama kasama crete works at Berkshire Hathaway Home Services – Nevada Properties. Other professionals spencer tina recognized by GLVAR include David Crete, who won the Gene Nebeker Memorial Award for outstanding service to GLVAR and the community; Ronnie Vause, who won the Ronn Reiss Award for educational excellence and leadership; Lillian Spencer, who won the Frank Sala/Marv yates Rubin Award for long-term commitment to grassroots political action and to protecting private property rights; and Ross Herwick, who won the Jack Woodcock Professionalism Award. GLVAR Hall of Fame inductees were David Brownell, 2013 GLVAR President Dave Tina Sr. and Robyn Yates. The Commercial Real Estate Women Las Vegas 2016 board of directors is led by Leslie Becker of Lawyer Trane. Other board members are Treasurer Mindy Kermes, vice president and senior business relationship manager at Wells Fargo Bank; membership director Alicia Syverson, business development manager at Steamatic Restoration of Southern Nevada; programs director Kathy Blond of SR Construction; secretary Kelly Connery of Orbis Solutions; sponsorship director Michelle Drauker of Commercial Roofers, Inc.; marketing and public relations director Judi Hanf of NewMarket Advisors; and immediate past president and Commercial Alliance Advisory member Gina Tarantino of Wells Fargo Bank.

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commercial real estate quarterly Send your business-related information to news@vegasinc.com

march 27-april 2

Q&A with michael shohet

NAIOP head talks education, land and skiing Michael Shohet is vice president of JLL financial and professional services firm and is the Southern Nevada chapter president of NAIOP, the largest real estate trade organization in Las Vegas, with more than 200 member companies. NAIOP focuses on networking, education and advocacy, including government affairs. If you could change one thing about Southern Nevada, what would it be? Other than skipping the month of August, I’d like Southern Nevada to position itself to attract younger professionals. Our tourism industry has built a great base of employment that we need to build on and increase the level of our educated workforce. Investing in and improving our education system, both at the K-12 and post-secondary levels, will help attract new industries with higherpaying jobs. This in turn will attract new talent to our market. I think this virtuous cycle is one of the keys to economic development and growth.

there two to three weekends a month or in Salt Lake City at races. I raced when I was a kid in Canada, and both of my kids love it, too. I love travel and outdoor activities, and skiing is at the top of that list. During my career, I have taken two “ski sabbaticals.” In 1999, I embarked on a three-month ski tour living out of the back of a 1976 VW van and visiting some of the best ski resorts on the West Coast. In 2001, I took another three months off work to ski in Lake Tahoe. Travel is my other passion. In my 20s, I backpacked all over South America and Europe, and I still like to take trips to interesting places. This past holiday season, I spent a week in Guatemala.

What’s the biggest issue facing Michael Shohet, vice president of JLL, is the 2016 president of the Southern Southern Nevada? Nevada chapter of NAIOP. (STEVE MARCUS/staff) In addition to education, taxes and make-up of our city. We will work old City Hall was a close second. land availability, there is a significant with the various chambers of comlevel of uncertainty with the proposed merce (Urban, Latin, Asian) to build What are your main duties and commerce tax and potential reforms strategies to accomplish this. goals as NAIOP president? to property tax caps. While increased I see my role with NAIOP as the taxes and fees can be onerous and detWhat was your industry’s bigchampion of our mission. This year, rimental to business initiatives, ungest surprise in 2015? we have three new initiatives that our certainty is worse. Lastly, while it may The announcement of the Faraboard has committed to take on. seem like there is plenty of land here, day project. For industrial real esFirst, we are working on leadership the fact is the federal government contate, this project is the catalyst for development. We have a great protrols most of the land in the state, indelivering utilities to 3,000 acres of gram called the Developing Leaders cluding most of the undeveloped land developable industrial land at Apex Institute, which is a yearlong industrysurrounding Las Vegas. In the short Industrial Park. This will help adtraining program. We need to provide term, the result is higher land prices dress our land-availability issue and a pathway for some of these up-andthan some of our neighbors, such as will provide low-cost land for future coming stars to take on a leadership Reno, Salt Lake City and Phoenix. industrial development. In addition, role within the organization. We put This is a major factor when businesses it represents a shift in the types of intogether a task force of industry leadare deciding where to locate new fadustries we have been able to attract ers to help us look at our bylaws and cilities. In the long term, this situation and could be a catalyst for additional build strategies to accomplish this. limits the amount of land available manufacturers to come here. Second, we are trying to renew our for future commercial development, relationship with UNLV. We would which results in limits on economic What are you reading? like to foster a collaborative partnerdevelopment and job growth. I normally read business or leadership and recruit new student memship books, but I’m currently readbers. During the recession, UNLV What has been your most exciting “Life,” Keith Richards’ autobigraduates were not looking to the ing professional project to date? ography. Playing guitar is one of the real estate business as a potential caMy most exciting project is always things I do to relax, and music is a reer path. We need to change that. my next one. I like to continually passion of mine. Finally, we are embarking on a challenge myself. diversity campaign. While we have That said, working with Larry Ruvo What do you do after work? made improvements in gender equaland Frank Gehry on the Cleveland I have a 6-year-old and an 8-yearity in terms of representation on our Clinic Lou Ruvo Center for Brain old, so evenings are the regular rouboard, in our organization and in our Health was a highlight. It is not often tine — soccer practices, homework industry, there is a long way to go. The you have the opportunity to work with and dinner. I coach the Brian Head real estate industry should represent personalities and talents like them. ski team, so the kids and I are up a cross-section of the demographic Managing the Zappos project in the

Blackberry, iPhone or Android? As much as I would love to support Blackberry, a Canadian company, I’m an iPhone user. Describe your management style. I’m definitely a consensus builder. I’m also an engineer by training, so my strength really lies in creative problem solving. I love diving into a complex problem and coming up with a creative solution. Whom do you admire and why? I admire my brother. As kids, we were both academically inclined, and we were good at math and science. I took the practical route with an education in engineering and a career in construction and development. Simon chose to follow his creative passion and embarked on a career in film. For many years, he toiled in that industry, working freelance to establish a “reel.” Now as a director of photography, he has achieved success and shoots movies, commercials and music videos. He recently shot a video for Rihanna and Drake. Sometimes I wonder what my life would be like if I had chosen a career following a different passion, like skiing. What is something people might not know about you? I spent time in a Bolivian prison — but you have to buy me a drink if you want the full story.

VEGAS INC

commercial real estate quarterly

march 27-April 2

Send your business-related information to news@vegasinc.com

by the numbers

$1.1 billion

Sales price of the Shops at Crystals mall on the Strip. CityCenter Holdings announced it was selling the mall to Invesco Real Estate and Simon Property Group, with the transaction expected to close by the end of June.

$8 million

Asking price for the town of Cal-Nev-Ari, a community of about 350 people 70 miles south of Las Vegas. Cal-Nev-Ari’s 78-year-old owner is offering most of the town for sale, including its casino, diner, convenience store, 10-room motel, RV park and mile-long dirt airstrip.

$14.4 billion

Amount of a sweetened bid the Starwood hotel chain accepted from Marriott days after a Chinese insurance company made a $14.2 billion offer. Starwood has four properties in Las Vegas. In addition, Starwood and SLS Las Vegas announced that one of the SLS towers would be converted to a W Hotel managed by Starwood.

Predicted number of weeks the municipal government of Atlantic City will have to shut down nonessential services in April if the city doesn’t receive state aid, according to the city’s mayor. The city’s tax base has contracted since four of its 12 casinos closed.

320 million Active users on Twitter, which turned 10 on March 21.

3,620

Number of solar panels installed on the roof of Las Vegas’ first Ikea. The store at the 215 Beltway and Durango Drive is scheduled to open May 18.

$9.4 million

Amount Amazon spent in 2015 lobbying for legislation that would allow it to deliver goods by drone.

Tyra Bell-Holland owns Resortcierge MD, which connects patients with doctors who are willing to provide house call services. (l.e. baskow/staff)

Bringing back the house call Resortcierge md

Describe your business.

We offer house call medicine with top physicians trained in hospitality, bedside manner, cross-cultural communications and other hospitality-oriented skills. By bringing treatment to the patient, we believe we provide high-quality care that contributes positively to medical tourism in Southern Nevada.

Address: 8022 S. Rainbow Blvd., Suite 445, Las Vegas Phone: 1-844-692-4374 Email: info@resortciergemd.com Website: resortciergemd.com Hours of operation: 24/7 Owned/operated by: Tyra Bell-Holland In business since: January

Who are your customers?

Primarily, our clients are tourists, but we have seen a recent shift to residents who didn’t know such services existed without costly membership fees.

What is the hardest part about doing business in Las Vegas?

Having cell service interruptions at some of the Strip resorts. We never want to miss a call. What is the best part about doing business here?

The people. We are extremely grateful to the community and industry leaders for their support in uncharted waters with a business model that is exclusively dedicated to resurrecting a forgotten service. What obstacles has your business overcome?

To compassionately and elegantly provide professional medical house call services to each guest, exceeding their expectations.

The business still is in its infancy, but it takes an enormous amount of time and resources to set ourselves apart from our competitors — doing things that aren’t necessarily expected or required, such as tripling our liability insurance and having a 24/7 operation.

How much does it cost for a house call?

How can Nevada improve its business climate?

A visit costs $650. We typically arrive in an hour or less but can also be scheduled in advance.

Nevada being ranked among the top three states for taxes helps everyone, because the state will continue to attract new business and growth. I personally am looking forward to the new resorts on the horizon.

What is your business philosophy?

What does the service include?

With each visit, the doctor provides one-on-one, uninterrupted medical assistance. Each house call includes any prescriptions that might be required and a personal follow-up the same day by the physician. We also provide immediately a billing statement to submit for insurance reimbursement.

What did you learn from the recession?

Not to take any inquiry for granted and to refer business appropriately regardless of whether there is monetary gain. Community means choosing to do what’s right all of the time.

commercial real estate quarterly Send your business-related information to news@vegasinc.com

Reader comments We want to hear from you. Visit vegasinc.com to post your opinion.

On J.D. Morris’ vegasinc.com story “MGM Resorts reorganization moves get initial OK from gaming regulators”: This company is like a snake that sheds its skin each spring. If the leaders spent half the amount of time actually running their company instead of sitting around dreaming up elaborate financial shell games, they’d be fine. — Meridias Maximus On J.D. Morris’ lasvegassun.com story “Making tracks: Light-rail proposal for Maryland Parkway is moving forward”: It is shocking that an area that has built the finest mega-resorts in the world does not have the same concepts for mass transit. — Cyrus Hojjaty Las Vegas is the perfect place for light rail because a large share of the population works in a centrally located area. With park-and-ride stations in the suburbs, it would be a huge success. — ecd3easy Just create a transit lane, and the traffic congestion issue would be solved. — KyleLeeReese On Daniel Rothberg’s vegasinc.com story “Elon Musk taking direct approach to lobbying Nevada lawmakers on solar energy”: Musk is fighting fire with fire. — SteveMiller2

VEGAS INC

march 27-april 2

How to measure, improve a building’s performance

guest column: norm, owners undoubtedly will focus on hen shopping for a car, tim potter ways to further reduce utility costs. Among fuel economy is a major the tactics: consideration, along with safety and price. n Replace older air-conditioning systems For prospective building purchasers or with more efficient systems renters, the same holds true. Whether inhabiting an ofn Improve the control systems for the building’s HVAC, fice building, hospital, school, restaurant or government lighting and electrical systems facility, building occupants expect a safe and healthy work n Reduce water consumption setting that does not hinder productivity. n Add solar/photo voltaic panels Environmental impact is increasingly important as well; n Use analytics software to improve the building’s operabuildings must be energy efficient and have acceptable tion and energy efficiency. carbon footprints. Building analytics gather key data in real time so customHowever, unlike vehicles tagged with a miles-per-gallon ers can make essential decisions about operations. metric, many buildings have no indicator to inform ocAside from performance measurement, owners should cupants and owners how well the building performs or consider installing environmentally friendly materials, measures up to others in the community. such as safer paints, wall coverings, flooring and adhesives. That’s where building performance measurement comes Better lighting systems also can benefit occupants, easing into play. Across the country, cities are implementing proeye strain and glare on computer screens. Use natural daygrams that require building owners to report their buildlight as a source of lighting, and choose LED lighting rather ings’ performance based on energy efficiency and carbon than traditional fluorescent fixtures to improve the quality footprint — annual energy cost per square foot and/or of interior lighting while also reducing energy consumption. annual carbon emissions per square foot. Optimizing a building’s performance can be a process, Think of the building performance measurement as simibut taking steps toward better efficiency, safety, health and lar to the estimated mileage on new cars. The performance environmental impact ultimately will benefit building ownmeasurement tells prospective buyers or renters what it ers, occupants and buyers alike. will cost to operate the building, and it enables them to Tim Potter is vice president and Southwest branch manager compare to similar buildings. at Envise, a national building management systems integrator As building performance ratings start to become the and subsidiary of Southland Industries.

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.

VEGAS INC

commercial real estate quarterly

march 27-April 2

Send your business-related information to news@vegasinc.com

Faraday Future hasn’t sparked land sales at Apex park By eli segall Staff Writer

Developer Ron Hakakian went to see Apex Industrial Park recently, intrigued by an auction offering hundreds of acres in the commercial district. With Faraday Future planning a $1 billion auto factory at Apex, Hakakian figures the mostly empty North Las Vegas business park will come alive one day. But for now, he wasn’t sure whether to bid. Mason Harvey owns property at Apex and drew up plans for a 365-acre industrial park, which hasn’t materialized. Much of Apex is raw desert, but if companies could tap into a water grid, “we’d have a whole different picture” there, he said. Meanwhile, investor Khusrow Roohani snapped up 800-plus acres in the area a few months ago. He’s bullish on Apex, but for now he has no plans for his holdings. “It depends on what else comes into that area,” Roohani said. Real estate brokers have fielded a

surge of inquiries about Apex, and landowners have raised prices since news broke last year that Faraday, a Chinese-backed electric-car maker, was eyeing the park as a possible development site. To ensure Faraday picked North Las Vegas, the Legislature approved a $335 million incentive package for the Southern California-based startup company — whose ownership has been shrouded in secrecy — at a special session in December. If all goes as planned, Faraday’s arrival would usher in thousands of jobs, yield newly built utilities and attract other development to the park, which for years has been largely bypassed as investors built industrial projects in other parts of North Las Vegas and the valley. But so far, Faraday’s widely cheered site selection hasn’t sparked a landbuying binge at Apex, or even more than a few sales, real estate pros say. The biggest obstacle, a long-standing one, is that Apex is short on utility service, meaning businesses would run on water-wells and septic tanks

Specializing in the Sale of Commercial Investment Property and the Sales and Leasing of Office, Industrial and Retail

unless grids are installed, as planned in coming years. And despite the excitement about Faraday — Gov. Brian Sandoval said its selection highlighted Nevada’s “limitless potential” and helped create a state “based on innovation, technology and entrepreneurship” — some have questioned whether the 3.4 million-squarefoot factory would be built. Faraday “has created kind of a renewed fervor with Apex,” but “that in itself is a little perplexing,” said real estate broker Dan Doherty, an executive vice president with Colliers International. “The problem with Apex today is the problem with Apex 15 years ago,” Doherty said. Real estate executives say Apex is a good fit for companies that need space for heavy industrial work or need to be far from residential areas, as the park was designed after Henderson’s Pepcon chemical plant — which produced a rocket-fuel enhancer — exploded in 1988, killing two people and injuring more than 300.

But if Apex had more to offer than ample acreage, it would look much different today, executives say. “It would all be developed if there were utilities out there,” said Providence Commercial broker and former North Las Vegas mayor Mike Montandon, who led the city when it started annexing Apex last decade. MDL Group broker Michael Campbell said there had been “a tremendous amount of interest” recently in the industrial park, located around the Interstate 15-Highway 93 intersection about 25 miles north of the Strip. But the interest hadn’t triggered a burst of land sales, he said, as a “seasoned investor” would know what to ask about before pulling the trigger: utility service and the “reality” of both Faraday’s factory and a planned, 50-acre test track for high-speed-transit startup Hyperloop Technologies, Campbell said. Moreover, some land in Apex sold for about $50,000 or $75,000 an acre the past two years, but owners now want from $100,000 to $280,000 per

HONOR ROLL 2015 WINNERS

COLLIERS EVEREST CLUB

We succeed only when our clients succeed. Our clients have come to expect more from Colliers. This year, 8 Colliers brokers from Las Vegas were recognized for their exceptional brokerage performance in 2015 and inducted into the coveted Everest Club. Only the top ten percent of professionals in the Americas earn this honor. On behalf of the Colliers team, we would like to thank all of our clients for being an integral part of our journey, and TOGETHER, we continue to summit each new opportunity.

colliers.com/lasvegas

49 YEARS OF PERFORMANCE NOT PROMISES Soozi Jones Walker CCIM, SIOR Broker/President Soozi@CEVegas.com

Bobbi Miracle CCIM, SIOR Senior Vice President Bobbi@CEVegas.com

DAN DOHERTY

SUSAN BORST

RYAN MARTIN

MIKE STUART

TABER THILL

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VEGAS INC

commercial real estate quarterly

march 27-april 2

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A groundbreaking date hasn’t been confirmed, she said, but city officials have aimed for April. “It’s sort of all in motion,” she said. Faraday says online that its factory, once operational, would have 4,500 on-site jobs. At the peak, it would produce up to 150,000 electric vehicles annually, according to the company’s incentive-package application. The company has disclosed various executives and said it planned to have

500 employees by the end of 2015. It lists dozens of job openings online. But it hasn’t disclosed a chief executive officer. And while Chinese billionaire Jia Yueting, chairman of media conglomerate LeTV, has said he’s an investor in Faraday, little else is known about the company’s ownership. Former mayor Montandon says there are “still some questions” about whether Faraday will build its factory. Trading of LeTV shares has report-

edly been halted at times. State Treasurer Dan Schwartz wanted to investigate, to ensure Nevadans weren’t “all smelling roses,” chief of staff Grant Hewitt said. Schwartz is requiring Faraday post up to $75 million in collateral for stateissued bonds that would help finance Apex’s infrastructure projects, Hewitt said. He added the collateral is allowed by the special session’s laws and “would have always been requested.”

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acre, listings show. “I just can’t imagine a developer who would pay those kinds of prices,” Campbell said. If the car factory is built, developer Doug Roberts says, more construction in Apex likely would follow. But, he says, the “biggest knock” for years has been “the lack of infrastructure.” Roberts, a partner with Panattoni Development Co., says developers of the Tahoe Reno Industrial Center, or TRIC, installed utilities, removing a “fear of the unknown” from the 107,000-acre park and sparking a faster inflow of users. Some 130 companies operate at TRIC, whose developers — including Lance Gilman, a cowboy hat-wearing brothel owner and county commissioner — spent $100 million on roads, sewage and water service, a freeway interchange and other infrastructure, project manager Kris Thompson said. Perhaps the most notable company at TRIC is Tesla Motors. Backed by $1.25 billion in state incentives from a 2014 special session, the Silicon Valley electric-car maker is building a $5 billion battery factory in the park. Apex was designed as a 21,000-acre industrial park, and about 10 businesses operate in or just outside its borders, including two NV Energy power plants; 154-acre and 146-acre solar arrays; a medical marijuana-cultivation facility; a rock quarry; a landfill; and a Love’s truck stop and convenience store. Apex has “an enormous amount of raw power” but needs substations so electricity can be routed to local users, says Gina Gavan, North Las Vegas’ economic and business development director. And Gavan says that despite a perception that Apex is parched, the industrial park has ample groundwater — just no underground network of pipes. Utilities, however, are slated to be installed. As part of the December special session, lawmakers authorized the state to borrow up to $175 million to build Apex’s sewage and water systems, emergency services and other infrastructure, according to Gavan. Also, NV Energy has developed plans to support new customers with at least four new substations, spokeswoman Jennifer Schuricht said. Gavan said Apex’s rising land prices were inflated, but that big users likely would negotiate smaller price tags. She also said she wasn’t worried by the dearth of land deals. “I think the real serious people are cautiously waiting to see some action,” she said. Faraday has started clearing its project site and ordered construction trailers, Gavan said.

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VEGAS INC

march 27-april 2

cb re , from page 1

‘Developers and investors are being cautious’ CBRE Las Vegas doubled the size of its industrial group. Why? Last year, CBRE significantly expanded its industrial division by adding Kevin J. Higgins and Garrett Toft, formerly with Voit Real Estate Services, along with three professionals from their team, as well as James Griffis, formerly with MDL Group. These strategic recruitments put the exclamation point on CBRE’s industrial practice. The 2015 expansion of the CBRE team was well-timed with the recovering economy and significant growth in the valley’s industrial sector. In fact, strong leasing activity and net absorption headlined the region’s real estate activity for the year, and there appears to be no slowdown in sight.

Fortune 500 company is headquartered in Los Angeles but employs 110 people in the Las Vegas Valley. Newman recently weighed in on where his company — and commercial real estate in Las Vegas in general — appear to be heading. How was 2015 for CBRE Las Vegas? The firm was responsible for more than $1.2 billion in real estate transactions during the year. CBRE’s headline-making deals in 2015 included the much-anticipated listing for Fontainebleau Las Vegas, the tallest tower on the Strip; the listing of 60-plus acres between Planet Hollywood and Hard Rock, the largest remaining undeveloped parcel in the resort corridor; the listings of Stirling Club at Turnberry Place and the historic Las Vegas Country Club; the bulk sale of 64 units at Sky Las Vegas; and the brokering of a milestone 15-year, $13.2 million lease at Prologis Las Vegas Corporate Center. The stalled Fontainebleau resort on Las Vegas Boulevard South was listed for sale

How is 2016 shaping up? last year by CBRE. (steve marcus/staff file) We’re only three months in, but the firm has been on pace to acquire early signs show promise of 2016 beabout one company a month. ing the best year we’ve had in 10 years. At the heart of these moves is the The industrial market absorbed desire to ensure that CBRE offers the 4.6 million square feet in 2015, and most robust and talented group of signs point to increased absorption professionals to service our clients. in 2016 as evidenced by the robust With more than 70,000 employees development activity we’re experiencin more than 400 offices worldwide, ing from companies such as Panattoni CBRE is able to mobilize around our Development, Prologis, VanTrust, the clients’ most demanding real esPauls Corp., Dermody Properties and tate challenges to deliver outcomes Suncorp, to name a few. that drive business value and asset As a market, we’ve missed opportugrowth. nities because we didn’t have standIn Las Vegas, we attribute our ing industrial inventories readily growth to CBRE’s international available to accommodate manufacreach, significant resources and, of turing, e-commerce and distribution course, an improving market. Howbusinesses. That challenge is being ever, growth also is achieved through addressed by the introduction of inthe recruitment of highly experidustrial offerings that were completenced professionals, the acquisition ed in 2015 and/or will be completed of new businesses that complement in 2016. Transaction values are exour existing platform and new busipected to increase 15 to 20 percent ness development through supportabove 2015. ing lines of business, including debt and structured finance, appraisal Your firm is growing, correct? and valuation services, asset services On the whole, CBRE has been busy and transaction services for large recruiting and acquiring other firms corporate clients. This complement both to strengthen its core comof diversified services expands our petencies and to diversify its busiclient base well beyond brokerage. ness. In the past decade, CBRE has acquired and integrated more than What does that growth say 100 firms. Over the past year alone,

about the state of commercial real estate in Las Vegas? History has proven that national and local real estate cycles usually run seven to 10 years. The fact that Nevada hasn’t fully recovered from the last economic downturn causes some to believe the next downturn may be softer. That said, companies are thinking cautiously about the next two years. The effect is that developers and investors are being cautious in their underwriting and, unlike in 2005 to 2007, they are adhering to traditional real estate investment fundamentals, allowing for smarter investment. We still have room to grow in retail, but that growth is largely dependent on new housing construction and corresponding absorption. Measured growth should continue in the Southwest, Henderson, Summerlin and the Northwest, but it will be a gradual growth. Vacancy continues to be skewed by retail properties in the core of the city that have lost anchors. The Las Vegas retail market also is contingent on the performance of national retailers that traditionally drive the development of shop space for local and regional retailers.

How has the market changed since the recession? New construction is more deliberate, and due diligence is more thorough, adhering to traditional real estate fundamentals. The availability and affordability of land is an issue, particularly for industrial development in the Southwest. During the recession, land values adjusted to more realistic values that can support development, i.e. land is only worth what you can build on and support. However, since the end of the recession, land prices have increased, and the concern is that continued price inflation could restrict new development. For our local economy to thrive, we need to continue to grow and build. On the industrial side, the Las Vegas market is being looked at as a preferred location for regional distribution centers. New buildings are bigger and taller, partly driven by ecommerce. Las Vegas is starting to see more manufacturing companies in the market. The Las Vegas industrial market is entering a growth period with developers. What advice do you have for investors and developers? Stay patient, because the recovery is going to be long and gradual. There still is pent-up demand for high-quality, well-positioned property in the Las Vegas market. Build it, and we’ll lease it.

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Calendar of events Monday, March 28 Southern Nevada Forum: Economic Development Committee Time: 3:30-5 p.m. Cost: Free Location: Las Vegas Metro Chamber of Commerce, 575 Symphony Park Ave., Suite 100, Las Vegas Information: Call 702-586-3846 Join legislators, government officials, business leaders and other stakeholders in identifying regional priorities for the 2017 legislative session.

Tuesday, March 29 Southern Nevada Society for Human Resource Management breakfast meeting Time: 7:30-9:30 a.m. Cost: $15 for students, $25 general admission Location: Caltrol, 1385 E. Pama Lane, Suite 111, Las Vegas Information: Visit snv.shrm.org Ronna Timpa, founder of Workplace ESL Solutions, will discuss ways to create a more inclusive workplace for HR professionals and how to link training to job performance, retention and customer service. Census data workshop for grant writers Time: 10 a.m.-3 p.m. Cost: Free Location: North Las Vegas City Hall, 2250 Las Vegas Blvd. North, Room 521, North Las Vegas Information: Call 702-912-1634 Learn how to use U.S. Census Bureau data to build effective cases for funding. Vegas Young Professionals Bigwig lunch time Time: 11:30 a.m.-1 p.m. Cost: $15 in advance, $20 at the door Location: Las Vegas Metro Chamber of Commerce, 575 Symphony Park Ave., Suite 100, Las Vegas Information: Call 702-586-3834 Caroline Ciocca, president and CEO of Make-AWish Southern Nevada, will speak. Exclusive to Vegas Young Professionals members, but membership is free through VegasYP.com.

Public Relations Society of America luncheon Time: 11:30 a.m.-1 p.m. Cost: $30 for members, $35 for nonmembers Location: Fleming’s Prime Steakhouse and Wine Bar, 8721 W. Charleston Blvd., Las Vegas Information: Email programs@prsalasvegas.com Dave Sholler, vice president of public relations, athlete development and marketing at the Ultimate Fighting Championship, will speak about how the brand engages audiences.

Tina Quigley, general manager of the Regional Transportation Commission of Southern Nevada, will discuss the economic advantages of Interstate 11, which will connect Las Vegas and Phoenix.

Thursday, March 31

Father Max Business Mass Time: 12:10 p.m. Cost: Free Location: Guardian Angel Cathedral, 302 Cathedral Way, Las Vegas Information: Call 702-277-4517 Father Max Oliva, a Jesuit priest and business consultant, will discuss the necessity of ethics in the marketplace.

Las Vegas Hospitality Association education panel Time: 11:30 a.m.-1:30 p.m. Cost: $45 for members, $60 for nonmembers Location: MGM Grand Conference Center, Vista Ballroom, 4763 Koval Lane, Las Vegas Information: Visit mylvha.starchapter.com Representatives from Uber, UNLV and Cvent will share information about technology trends in hospitality. Learn how technology affects travel, tourism, meetings and conventions.

Wednesday, March 30

Friday, April 1

Project pitches and certification Time: 9 a.m.-noon Cost: Free Location: Sumnu Marketing, 1951 Stella Lake St., Suite 7, Las Vegas Information: Call 702-229-6862 Learn how to turn your concepts into reality. Presented by Sumnu Marketing and the U.S. Small Business Administration.

Las Vegas Medical Marijuana Association Patient and Industry Focus Luncheon Time: 11:30 a.m.-1 p.m. Cost: $40 for NevBio members, $50 for walk-ins Location: Lawry’s the Prime Rib, 4043 Howard Hughes Parkway, Las Vegas Information: Call 623-256-0503 Medical marijuana professionals will discuss industry software, real estate and investments. Patiet Griffin Pinkow will speak about medical marijuana research and retinitis pigmentosis, an inherited eye disease.

Southern Nevada Certified Commercial Investment Member luncheon Time: 11:30 a.m.-1:30 p.m. Cost: $40 for members, $50 for nonmembers, $60 after March 24 Location: Palms, Casino Ballroom, 4321 W. Flamingo Road, Las Vegas Information: Visit snccim.org Learn about the “must know” deals in the valley. Phillip Dunning, associate vice president of Colliers International, will moderate. “Interstate 11: What’s at Stake?” Time: 5-8 p.m. Cost: $20 for Henderson Development Association members, $45 for nonmembers Location: Railroad Pass, 2800 S. Boulder Highway, Henderson Information: Call 702-592-2211

Saturday, April 2 Biddin’ for Bottles Time: 6-9 p.m. Cost: $50 per person, $90 per couple; $95 per person VIP, $180 per couple VIP Location: Dragon Ridge Country Club, 552 S. Stephanie St., Henderson Information: Call 702-565-8951 Network with local professionals while enjoying wine and appetizers, and bidding in an auction. Proceeds will benefit Leadership Henderson and High School Leadership, a coaching and mentoring program.

Conventions

expected Show Location Dates attendance

American Taekwondo Association West Coast Tournament

Las Vegas Convention Center

March 30-April 2

5,000

National Automobile Dealers Association Annual Winter National Convention

Las Vegas Convention Center

April 1-3

30,000

Clark County Democratic Convention

Cashman Center

April 2

4,000

American Society for Aesthetic Plastic Surgery Annual Meeting

Mandalay Bay

April 2-7

2,500

VEGAS INC

march 27-April 2

commercial real estate quarterly Send your business-related information to news@vegasinc.com

Records and Transactions Bid Opportunities MONDAY, MARCH 28 3 p.m. Assessment of infrastructure disaster recovery architecture for Scope II Clark County, 604013 Jim Haining at jhaining@clarkcountynv.gov

THURSDAY, MARCH 31 2:15 p.m. Desert Inn Road, Sir George Drive and Winterwood Boulevard improvements Clark County, 603873 Tom Boldt at tboldt@clarkcountynv.gov 3 p.m. Nuisance property and building abatement services Clark County, 602952 Adriane Garcia at akgarcia@clarkcountynv.gov

FRIDAY, APRIL 1 3 p.m. Current production model dry box trucks, utility trucks and stake bed truck Clark County, 604032 Sandra Mendoza at sda@clarkcountynv.gov 3 p.m. Current production model hybrid sedans, pickups, bus, cargo van and tilt trailer Clark County, 604035 Sandra Mendoza at sda@clarkcountynv.gov

Brokered transactions SALES $6,500,000 for 155,476 square feet, school Address: 2100 Olympic Ave., Henderson 89014 LSI-Nevada LLC Seller agent: Charles Moore, Marlene Fujita-Winkel and M. Laura Hart of CBRE Buyer: American Heritage Academy Buyer agent: Did not disclose $2,450,000 for 30,441 square feet, retail Address: 4440 E. Washington Ave., Las Vegas 89110 Seller: Mark M. Kaisi Seller agent: Cathy Jones, Paul Miachika, Jessica Cegavske, Roy Fritz and David Livingston of Sun Commercial Real Estate Buyer: Berryessa Plaza LLC Buyer agent: Dan Gluhaich of Colliers International

Address: 1645 Village Center Circle, Suite 60, Las Vegas 89134 Landlord: Hines/Oaktree Venture Landlord agent: Darren Lemmon of CBRE Tenant: Brooks Hubley LLP Tenant agent: Scott Donaghe of Avison Young $307,000 for 4,333 square feet for 84 months, industrial Address: 6185 Valley View, Suite M, Las Vegas 89118 Landlord: Koll Valley View I, II & III LLC Landlord agent: Did not disclose Tenant: The ICEE Co. Tenant agent: Joe Leavitt and Chris Lexis of Avison Young $281,000 for 1,500 square feet for 120 months, retail Address: 6525 S. Fort Apache, Suite 135, Las Vegas 89148 Landlord: Monterey Vista Village Shopping Center Landlord agent: Liz Clare, Jackie Young and Kris Watier of Avison Young Tenant: Lee Cleaners Tenant agent: Did not disclose

BUSINESS LICENSES Safer Smoking Solutions Pipes & Filters License type: Merchandise broker Address: Did not disclose Owner: George F. Garcia Salomon Robles License type: Maintenance services Address: 2505 Flower Ave., North Las Vegas 89030 Owner: Salomon Robles Sammy Fernandes License type: Real estate sales Address: 9420 W. Sahara Ave., Suite 100, Las Vegas 89117 Owner: Samuel (Sammy) Fernandes San Michele Apartments License type: Apartment Address: 5800 W. Lake Mead Blvd., Las Vegas 89108 Owner: LV San Michele LLC Scott Wells License type: Real estate sales Address: 9525 Hillwood Drive, Suite 120, Las Vegas 89134 Owner: Dana (Scott) Wells Shaun Ditmar License type: Real estate sales Address: 7854 W. Sahara Ave., Las Vegas 89117 Owner: Shaun Ditmar

LEASES

Silverstate Credit Services LLC License type: Management or consulting service Address: 2921 N. Tenaya Way, Suite 105, Las Vegas 89128 Owner: Scott Casey

$688,000 for 4,465 square feet for 65 months, office

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Academy License type: Interjurisdictional business Address: 11250 Falesco Ave., Las Vegas 89138 Owner: Gregory Wayne Lockridge Solv HR License type: Management or consulting service Address: 2915 Lake East Drive, Las Vegas 89117 Owner: Sabrina Orque Speak Leadership Consulting License type: Management or consulting service Address: Did not disclose Owner: William Teel Specialized Events Inc. License type: Professional services Address: 4949 N. Rancho Drive, Suite 1, Las Vegas 89108 Owner: Scott Kramer

Tea or Tisane License type: Therapy services Address: 1600 N. Rampart Blvd., Las Vegas 89128 Owner: Melissa C. Hansen Techsol of Nevada Inc. License type: Contractor Address: 3550 E. Post Road, Suite 500, Las Vegas 89120 Owner: Techsol of Nevada Inc. The Cleaning Dolls License type: Repair and maintenance Address: Did not disclose Owner: Jennifer Ybarra The Grove Wellness Center License type: Medical marijuana facility Address: 5570 S. Valley View Blvd., Las Vegas 89118 Owner: TGIG LLC

Owner: Debra Stokke Vegas 44 Marketing & Advertising License type: Interjurisdictional business Address: 6075 Washland Drive, Suite 101, Henderson 89011 Owner: Jose Barahona Vet-Sec Protection Agency License type: Professional services Address: 4045 Spencer St., Suite 306, Las Vegas 89119 Owner: Aarrowhead Security Inc. Vibrant Blue Collection License type: General retail sales Address: Did not disclose Owner: Vibrant Blue Collection LLC Virtusant LLC License type: Business support Address: 1180 N. Town Center Drive, Suite 100, Las Vegas 89144 Owner: Edsel Iway

Squadra Technologies Services LLC License type: Management or consulting service Address: Did not disclose Owner: Clarence Nakamaru

The Management Trust License type: Real estate sales Address: 8485 W. Sunset Road, Suite 100, Las Vegas 89113 Owner: The Management Association Inc.

Warrior Wraps License type: Banner store Address: 2200 Civic Center Drive, North Las Vegas 89030 Owner: Warrior Wraps LLC

Stephanie Duran License type: Real estate sales Address: 8430 W. Lake Mead Blvd., Suite 100, Las Vegas 89128 Owner: Stephanie Duran

Todd J. Volf License type: Real estate sales Address: 5550 Painted Mirage Road, Suite 140, Las Vegas 89149 Owner: Todd J. Volf

Water St. Mart License type: Convenience store Address: 147 S. Water St., Suite 100, Henderson 89015 Owner: Indian Bowl Cuisine LLC

Stephen Cibo Photography License type: Photography Address: 1609 Danielle Rebecca Ave., North Las Vegas 89086 Owner: Stephen S. Cibo

Too Busy to Clean License type: Maintenance services and residential property maintenance Address: 4603 Strunk Lane, Las Vegas 89115 Owner: Bryan and Loredana Lugo

Waxed Out Wheels LLC License type: Automobile services Address: Did not disclose Owner: Cherise D. Washington

Stucco Masters License type: Contractor Address: 1915 N. Michael Way, Las Vegas 89108 Owner: Did not disclose Style Furniture License type: General retail sales Address: 2041 N. Jones Blvd., Suite 103, Las Vegas 89108 Owner: The Style Furniture LLC Stylin Pool Care LLC License type: Property maintenance Address: 2065 Sapphire Valley Ave., Henderson 89074 Owner: Stylin Pool Care LLC Sunny Valley Landscape License type: Residential property maintenance Address: Did not disclose Owner: Sunny Valley Landscape LLC Sureshotcpa.com License type: Professional services Address: Did not disclose Owner: Todd Shaul Taqueria Manases License type: Mobile food vendor Address: 906 S. Sixth St., Las Vegas 89101 Owner: Armando Verdugo

Torres Auto Detailing License type: Automobile services Address: Did not disclose Owner: Isai Torres Flores Treshay Allen License type: Real estate sales Address: 9525 Hillwood Drive, Suite 160, Las Vegas 89134 Owner: Treshay Allen Ultimate Lighting License type: Maintenance services Address: 3676 Solandra St., Las Vegas 89147 Owner: Gorge Cerna United Tax & Wealth Group License type: Business support Address: 5450 W. Sahara Ave., Suite 350, Las Vegas 89146 Owner: Jung H. Byun

Westdale Asset Management Ltd. License type: Maintenance services Address: 2200 Civic Center Drive, North Las Vegas 89030 Owner: Did not disclose Western Trails Show Promotions LLC License type: Professional promoter Address: 8948 Salvatore St., Las Vegas 89148 Owner: Karl Lange William Hill Race & Sportsbook License type: Sportsbook Address: 1281 S. Decatur Blvd.; 739 S. Rainbow Blvd.; 8450 Westcliff Drive; 8820 W. Charleston Blvd., Suite 105, Las Vegas 89102 Owner: William Hill Nevada Xoxo Jamelle LLC License type: General services Address: Did not disclose Owner: Jamelle C. Johnson

Unlimited Escapes License type: Travel and ticket agency Address: Did not disclose Owner: Jayna N. Lamb

Yanet Castellon License type: Independent massage therapist Address: 129 Fremont St., Las Vegas 89101 Owner: Yanet Castellon

U.S. Barrel Shrouds License type: Sporting goods Address: Did not disclose

Yi Yang License type: Independent massage therapist

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vegas inc

march 27-April 2

commercial real estate quarterly Send your business-related information to news@vegasinc.com

Records and Transactions Address: 10895 S. Eastern Ave., Suite 180, Henderson 89052 Owner: Yi Yang YRC Freight License type: Express or delivery service Address: 5049 W. Post Road, Las Vegas 89118 Owner: YRC Inc. 2117 Alta LLC License type: Business space rent or lease Address: 2117 Alta Drive, Las Vegas 89106 Owner: Kevin M. Buckley 24/7 Courier License type: Express or delivery service Address: 950 Seven Hills Drive, Las Vegas 89052 Owner: Ron Gerszewski AA Auto Care License type: Automobile services Address: 6414 Losee Road; 5128 Camino Al Norte; 5680 Simmons St., North Las Vegas 89086 Owner: 6414 Losee LLC Action Pest Control License type: Pest-control services Address: 7595 W. Rome Blvd., Las Vegas 89131 Owner: David B. Freeman Advanced Landscape Lighting Inc. License type: Contractor Address: 9816 Gallo Drive, Las Vegas 89147 Owner: Advanced Landscape Lighting Inc. AGS LLC License type: Slot operator Address: 5475 S. Decatur Blvd., Las Vegas 89118 Owner: AGS Air Medix License type: Consulting services Address: 752 Feather Ridge Drive, Henderson 89052 Owner: A&R Consulting LLC Aktualize Apparel License type: General retail sales Address: Did not disclose Owner: Aktualize Entertainment LLC Aktualize Entertainment License type: Professional promoter Address: Did not disclose Owner: Aktualize Entertainment LLC Albertson’s License type: Grocery Address: 1940 Village Center Circle, Las Vegas 89134 Owner: Albertson’s LLC Alex T X Handyman License type: Residential property maintenance Address: Did not disclose Owner: Alejandro Xochitiotzi

All Pro Hydrojetting and Pumping License type: Residential property maintenance Address: 4955 Cecile Ave., Las Vegas 89115 Owner: Robert Douglas Miller All Things Tech License type: General services Address: Did not disclose Owner: James Hodges American and Latin Personal Care License type: Residential homecare provider Address: 4550 W. Oakey Blvd., Suite 111, Las Vegas 89102 Owner: Eusebio Brooks Ana’s Cleaning Services LLC License type: Residential property maintenance Address: Did not disclose Owner: Ana Prestholm Andrew Maline Jr. License type: Real estate sales Address: 5550 Painted Mirage Road, Suite 140, Las Vegas 89149 Owner: Andrew Maline Jr. Anna’s Linens License type: Sales/services Address: 1925 W. Craig Road, North Las Vegas 89032 Owner: FP Stores Inc. Automotive Training and Diagnostic Service License type: Instruction services Address: Did not disclose Owner: David Resetar

BUILDING PERMITS $5,000,000, commercial - alteration 2250 Las Vegas Blvd. North, North Las Vegas City of North Las Vegas $2,320,000, tenant improvement - highrise 1 S. Main St., Las Vegas Breslin Builders $1,836,000, institutional hospital 1750 W. Horizon Ridge Parkway, Henderson Henderson Senior Real Estate LLC $873,857, commercial 2662 N. Buffalo Drive, Las Vegas Pacific Pipelines LLC $327,000, WDS 2662 N. Buffalo Drive, Las Vegas Pacific Pipelines LLC $250,001, commercial - remodel 209 N. Pecos Road, Henderson Glencoe Properties Inc. $237,000, tenant improvement offices 9050 W. Cheyenne Ave., Suite 210, Las Vegas Boyd Martin Construction LLC

$236,823, single-family residention - production 354 Granitico St., Las Vegas Toll South LV LLC $229,452, residential - production 2819 Belmont Drive, Henderson Ryland Homes $223,796, residential - complete 361 E. Rancho Drive, Henderson Rose Line LLC $210,000, commercial 1 S. Main St., Las Vegas Breslin Builders $208,733, commercial - alteration 2121 E. Craig Road, North Las Vegas Aspen General Builders Inc. $200,009, commercial - remodel 1300 W. Sunset Road, Suite 2209, Henderson BPC Henderson LLC $186,518, single-family residention - production x2 10819 and 10837 Hammett Park Ave., Las Vegas Toll North LV LLC $181,765, residential - production 275 Via San Gabriella, Henderson Century Communities of Nevada $178,992, residential - production 3065 Lascari Ave., Henderson Pardee Homes Nevada

$154,866, single-family residention - production 10825 Hammett Park Ave., Las Vegas Toll North LV LLC $152,265, residential - complete 2208 Valdina St., Henderson KB Home Inspirada LLC $150,017, commercial - remodel 874 American Pacific Drive, Henderson Touro University $150,000, commercial 500 S. Fourth St., Las Vegas Kalb Industries of Nevada Ltd. $150,000, mechanical 6605 Grand Montecito Parkway, Las Vegas Burke Construction Group Inc. $149,991, commercial - remodel 7370 Eastgate Road, Suite 110, Henderson Harsch Investment PPYTS-NV LLC $146,554, residential - production 425 Via Gigante Court, Henderson Century Communities of Nevada $145,772, residential - production 2198 Tortona St., Henderson Pardee Homes Nevada $145,722, residential - production 3053 Lascari Ave., Henderson Pardee Homes Nevada

$176,532, single-family residential - production x2 276 and 282 Castelari Drive, Las Vegas Woodside Homes of Nevada LLC

$143,775, residential - new 4456 Hatch Bend Ave., North Las Vegas KB Home Nevada Inc.

$176,220, residential 371 E. Rancho Drive, Henderson Rose Line LLC

$143,615, residential - production 165 Bear Cove Terrace, Henderson Beazer Homes Holding Corp.

$171,562, residential - production 3057 Lascari Ave., Henderson Pardee Homes Nevada

$143,615, residential - production 1117 Copper Grass St., Henderson Beazer Homes Holding Corp.

$169,954, residential - production 3041 Lascari Ave., Henderson Pardee Homes Nevada

$142,483, single-family residention - production 10421 Mount Washington Ave., Las Vegas Ryland Homes

$167,751, single-family residention - production 318 Castelari Drive, Las Vegas Woodside Homes of Nevada LLC $164,845, single-family residention - production 378 Capistrano Vistas St., Las Vegas Ryland Homes $155,617, residential - new 7060 Solana Ridge Drive, North Las Vegas Woodside Homes of Nevada LLC $155,537, residential - production x2 3049 and 3061 Lascari Ave., Henderson Pardee Homes Nevada

$141,734, single-family residential - production 6539 Dunns River St., Las Vegas Richmond American Homes of Nevada $141,657, single-family residention - production 9954 Ramps Leap Ave., Las Vegas Woodside Homes of Nevada LLC $140,288, residential - production 257 Harwood Heights Court, Henderson D.R. Horton Inc. $138,815, single-family residential - production

9660 Ashlynn Peak Court, Las Vegas Richmond American Homes of Nevada $137,904, residential - production 2609 Via Firenze, Henderson Beazer-Inspirada LLC $137,904, residential - production 2629 Marvel Astoria St., Henderson Beazer-Inspirada LLC $134,483, single-family residential - production 1226 Argent Bay Ave., Las Vegas KB Home Nevada Inc. $132,996, single-family residential - production 10757 Wrigley Field Ave., Las Vegas Ryland Homes $132,055, residential - new 3648 Greenbriar Bluff Ave., North Las Vegas J.F. Shea Co. Inc. $132,055, residential - new 5630 Sagamore Canyon St., North Las Vegas J.F. Shea Co. Inc. $129,475, residential - production 138 Littlestone St., Henderson KB Home Nevada Inc. $128,699, residential - production 442 Fortissimo St., Henderson Richmond American Homes of Nevada $128,323, single-family residential - production 10734 Red Badge Ave., Las Vegas Ryland Homes $126,054, single-family residential - production 6789 Bristle Falls St., Las Vegas Ryland Homes $125,317, residential - production 1007 and 1015 Aubrey Springs Ave., Henderson D.R. Horton Inc. $120,835, residential - new 5829 Clear Haven Lane, North Las Vegas Beazer Homes Holding Corp. $120,271, residential - model 2434 Quiet Ode St., Henderson Century Communities of Nevada $120,271, residential - production 280 Via San Gabriella, Henderson Century Communities of Nevada To receive a complete copy of Data Plus every week in Excel, please visit vegasinc.com/subscribe.

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The List

Category: commercial real estate brokerages (Ranked by total 2015 lease and sales volume)

Company

Year established locally

2015 total volume

2015 lease volume

2015 sales volume

Commercial agents Top local executive

Colliers International 3960 Howard Hughes Parkway, Suite 150 Las Vegas, NV 89169 702-735-5700 • colliers.com/lasvegas

1993

$1,660,262,600

$743,978,000

$916,284,600

Mike Mixer, executive managing director

CBRE Inc. 3993 Howard Hughes Parkway, Suite 700 Las Vegas, NV 89169 702-369-4800 • cbre.com/lasvegas

1981

$1,044,082,223

$338,263,350

$705,819,873

Michael Newman, managing director

Newmark Grubb Knight Frank 3930 Howard Hughes Parkway, Suite 180 Las Vegas, NV 89169 702-733-7500 • ngkf.com

2000

$507,374,930

$117,913,080

$389,461,850

Larry Singer, managing broker

Cushman & Wakefield/Commerce 3773 Howard Hughes Parkway, Suite 100S Las Vegas, NV 89169 702-796-7900 • comre.com

2001

$447,796,334

$210,278,791

$237,517,543

Michael R. Dunn, market leader

NAI Vegas 8945 W. Russell Road, Suite 110 Las Vegas, NV 89148 702-383-3383 • naivegas.com

1988

$264,452,208

$161,230

$264,290,978

Patrick J. Sauter, managing partner

Jones Lang LaSalle Brokerage Inc. 302 E. Carson Ave., Suite 310 Las Vegas, NV 89101 702-360-4907 • jll.com

1998

$256,355,249

$118,193,199

$138,162,050

Bret Davis, executive vice president

Avison Young 3993 Howard Hughes Parkway, Suite 350 Las Vegas, NV 89169 702-472-7979 • avisonyoung.com

2012

$235,239,500

$29,275,500

$205,964,000

Joseph E. Kupiec, Sr., principal, manager director

The Equity Group 6018 S. Durango Drive, Suite 110 Las Vegas, NV 89113 702-369-4300 • teglv.com

1980

$207,206,970

$78,700,000

$128,500,000

Scott A. Godino, owner

New Market Commercial Real Estate Advisors 5245 S. Durango Drive Las Vegas, NV 89113 702-221-2500 • newmarketadvisors.com

1997

$174,329,845

$149,722,795

$24,607,050

Charles Creigh, president

Virtus Commercial 1333 N. Buffalo Drive, Suite 120 Las Vegas, NV 89128 702-787-0123 • virtusco.com

2008

$161,728,879

$31,349,382

$130,379,497

Chris Emanuel, president, broker

Source: 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, 2275 Corporate Circle, Suite 300, Henderson, NV 89074.

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