The Notes: Commercial Real Estate, July 2, 2018
Monday, July 2, 2018 - 2 a.m.
Nine Penta Building Group employees completed the Design-Build Institute of America's comprehensive education, training and certification testing program: Project management team members included Brandon Astudilo-Mounier, Adam Noureddine, Paul Dutmer, Donato Riccio, Scott Rodarte, Anthony Noll, Jeff Mills, Sami Kabir and Andrew Karakkal.
Sunrun, a residential solar, storage and energy services company, opened a branch at 8385 Eastgate Road, Suite 130, Henderson.
Nigro Construction is developing the Residence Inn at Seven Hills, 3225 St. Rose Parkway. The property will be a will be a 115-suite, extended-stay, limited-service hotel encompassing 79,742 square feet.
The Boulder Highway Collaborative Campus is open on Boulder Highway, just south of Desert Inn Road. The nonprofit collaboration includes Boys & Girls Clubs of Southern Nevada, Lutheran Social Services of Nevada and Nevada HAND. Beneficiaries include residents of Nevada HAND's 264 Boulder Pines Family Apartment homes, who will have access to the new Boys & Girls Clubs facility, as well as the Comprehensive Safety Net Center and Food Pantry operated by Lutheran Social Services of Nevada. Funding was made possible largely by a $5.8 million grant through the U.S. Department of Housing and Urban Development's Community Development Block Grant program. Other financial partners include Citi Community Development, Federal Home Loan Bank of San Francisco, Raymond James Financial and NeighborWorks America. HAND Construction Company, a board-controlled affiliate of Nevada HAND Inc., was the builder.
Matter Real Estate Group entered the Las Vegas market. Founded by Jim Stuart, Matt Root and Kevin Burke, the company is developing four projects: Matter Logistics Center at Craig (155,000 square feet), Matter Business Park at Warm Springs (135,000 square feet), Matter Park at West Henderson (300,000 square feet) and Matter Logistics Center at West Cheyenne (500,000 square feet).
Belinda Cahapay is project coordinator at Grand Canyon Development Partners.
VanTrust Real Estate is developing a warehouse for beauty retailer Sephora. The 714,000-square-foot facility will sit on 45 acres in North Las Vegas.
Jessie Duran is a sales manager with Blue Heron.
Henderson climbed 12 places on the Trust for Public Land's ParkScore Index for 2018, finishing 19th on scores for park amenities. Las Vegas placed 34th and North Las Vegas ranked 52nd.
San Diego-based Tower 16 Capital Partners and Henley USA are developing Altura on Duneville, a 228-unit property formerly known as Winsome West Apartments. Built in 1987, the property at 5050 Duneville St., Las Vegas, features 25 buildings with one- and two-bedroom units. Planned capital improvements include a refurbished clubhouse, a 24-hour fitness center, new laundry equipment and enhanced common spaces. Apartment interiors will be upgraded with contemporary finishes and modern technology.
Steven Haynes is associate vice president at Colliers International-Las Vegas.
TruAmerica Multifamily, in partnership with funds managed by Oaktree Capital Management, acquired Aviata, a 456-unit multifamily property at 2121 E. Warm Springs Road, Las Vegas, in an off-market transaction for $67 million. Built in 1998, Aviata offers one- and two-bedroom units.
Branch Benefits Consultants, which assists with benefit programs offered by employers, purchased its headquarters at 4584 North Rancho Drive, Las Vegas. Total costs for the project, which included the purchase and tenant improvements, were $593,030. Nevada State Development Corporation facilitated financing. Pacific Premier Bank also contributed to the package.
Henderson has been selected as a top retirement destination by Where to Retire, a magazine geared toward helping people with retirement relocation decisions. The city is profiled in the July/August 2018 issue. Editor Annette Fuller said Henderson possesses qualities important to today's retirees. "Eyes here rest upon lovely mountain ranges in almost every direction, and retirees like that Nevada has no income tax," she said. "Henderson is one of the fastest-growing locales in the country and is chock-full of master-planned communities, arts and sports events and outdoor draws like Lake Mead."
With three new lease agreements at its Las Vegas Digital Exchange Campus/Beltway Business Park adding to the total inventory, Majestic Realty Co. is planning a nearly 230,000-square-foot speculative property, according to company officials. Set to break ground in July at Decatur Boulevard and the 215 Beltway, Majestic's 227,350-square-foot Building No. 10 is part of the 360-acre master-planned LVDEC/BBP, developed in partnership with Thomas & Mack Development Group. The building will be divisible to 25,000 square feet. The three new lease agreements include: 68,950 square feet with Willwork Inc., a nationwide exhibit and event services company (Eric Larkin and Mike Kenny of NAI Vegas represented Willwork); 35,550 square feet with Shaw Industries Inc., a carpet manufacturer (CBRE brokers Tyler Ecklund and Jeremy Green represented Shaw); and 23,550 square feet with Breakers Unlimited, a electrical wholesale and distribution company (Bruce Familian, Familian Realty Group Inc. represented Breakers).
The Green Alliance, a nonprofit organization that promotes environmental sustainability, honored Southern Nevada people and businesses at a gala. The inaugural Arnold Lopez Lifetime Achievement Award went to the Lopez Family and Assemblyman Chris Brooks. Other awards and their recipients include:
• Rob Dorinson Environmental Hero Award: Craig Rosen, Desert Research Institute
• Sustained Excellence Award: NV Energy
• Community Green Building Legacy Award: UNLV William F. Harrah College of Hospitality
• Green Homes & Neighborhood Award: Lennar Homes
• Community Leader in Green Schools: Garden Farms Foundation
• Community Volunteer Leadership: Howard Watts III
• Transformers Award: City of Las Vegas and Regional Transportation Commission of Southern Nevada
• Innovation Award: UNLV Solar Decathlon Team
• Triple Bottom Line Award: Wynn Las Vegas
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Section: Notes
This story originally appeared in the Las Vegas Weekly.