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Cushman & Wakefield Las Vegas Completes Nearly 800,000 SF in Lease Transactions in Q2 2020, Amidst COVID-19 Pandemic

8/5/2020
LAS VEGAS, Nev., August 5, 2020 – Cushman & Wakefield announced today the firm’s Las Vegas office has successfully completed nearly 800,000 square feet (sf) of lease transactional volume during the second quarter of 2020 (April 1 through June 30).

Ranging anywhere from smaller users of under 1,000 sf to larger occupiers leasing hundreds of thousands of square feet—the firm’s transactions consisted largely of new activity. The firm also completed a handful of notable sale transactions. Below is a summary featuring just some of Cushman & Wakefield’s key deals signed during the second quarter and amidst the pandemic. Please note, many of the firm’s most notable deals in Las Vegas are unable to publicize for a variety of reasons, while some may also be released separately on an individual basis.

LEASES
Keystone Automotive Industries, a subsidiary of LKQ Corporation, renewed its lease for 78,920 square feet of space at the Golden Triangle Industrial Park in north Las Vegas. The property is owned by Golden Triangle Industrial Park LLC. Cushman & Wakefield’s Donna Alderson, Greg Tassi and Nicholas Abraham represented the landlord in the transaction.

U-Haul Co. of Nevada has expanded its network of self-storage locations in the region with a new lease for 27,225 square feet at the Golden Triangle Industrial Park in north Las Vegas. The property is owned by Golden Triangle Industrial Park LLC. Cushman & Wakefield’s Donna Alderson, Greg Tassi and Nicholas Abraham represented the landlord in the transaction.

Doxim, Inc., a customer communications and engagement technology leader for financial services and regulated industries, has renewed its lease for 16,328 square feet at the Air Center South Industrial Park at 1385 Pama Lane in Las Vegas’ Airport submarket. The property is owned by Dermody Properties. Cushman & Wakefield’s Greg Tassi, Donna Alderson and Nicholas Abraham represented the landlord, with Cushman & Wakefield’s Alma Cuevas, Jason Griffis and Zac Zaher representing the tenant in the transaction.

Bright Solar Marketing, a subsidiary of Freedom Forever—one of America’s fastest growing residential solar power companies, has subleased 13,951 square feet of space in a freestanding office building at 311 E. Warm Springs Rd in south Las Vegas. The growing solar company, which operates in Las Vegas and Temecula, CA and offers services nationwide, will occupy a full floor or approximately half of the two-story building. Cushman & Wakefield’s Dan Palmeri, SIOR and Paula Lea, CCIM represented Bright Solar Marketing in the transaction.

The Green Valley Corporate Center (GVCC) office complex in the city of Henderson has extended tenant Dermatology Management, which renewed its lease for 12,780 square feet of space in the Class A project. Located at the NWC of Interstate 215 and N Green Valley Pkwy in southern Las Vegas, the GVCC is a three-building complex owned by the joint venture of JMA Ventures LLC and Blue Vista Capital. Cushman & Wakefield’s Charles Van Geel and Jayne Cayton represented the landlord in the transaction.

The Green Valley Corporate Center—South complex in the city of Henderson has renewed lease terms with tenant Equity Title, LLC for 10,719 square feet of space in the Class A office project. Located at the SEC of Interstate 215 and St. Rose Pkwy in southern Las Vegas, the GVCC-South consists of five buildings owned by the joint venture of JMA Ventures LLC and Blue Vista Capital. Cushman & Wakefield’s Charles Van Geel and Jayne Cayton represented the landlord in the transaction.

Giddens Memorial Chapel, Inc., a first-generation family owned and operated funeral home, has leased 9,424 square feet of space for a new location at 2980 Mead Ave. in the Palms Business Center in Central Las Vegas. The property is owned by Fisher Brothers LLC, which was represented in the transaction by Leo Biedermann with Cushman & Wakefield.

Cenegenics®, the international leader in the medical specialty of age management medicine, has subleased 8,018 square feet of office space within the Tivoli Village at Queensbridge mixed-use campus in northwest Las Vegas. Cushman & Wakefield’s Dan Palmeri, SIOR and Paula Lea, CCIM represented Cenegenics in the transaction.

The General Services Administration (GSA) has signed a new lease for 7,844 square feet of Class A office space at Hughes Center®, the premier innovative office campus in the heart of Las Vegas. The 68-acre mixed-use development is located along Howard Hughes Pkwy between Flamingo Rd and Sands Ave and is owned by EQ Office. Cushman & Wakefield’s Charles Van Geel and Matthew Kreft represented the landlord in the transaction.

The Adoption Exchange has subleased 4,408 square feet of office space situated in the Las Vegas Technology Center in northwest Las Vegas. Located at 2500 N. Buffalo Dr, the Nevada Office of The Adoption Exchange is dedicated to helping waiting children in Nevada find safe, loving, permanent homes, as well as assisting adoptive families by providing resource information and referrals, support, advocacy, and education. Cushman & Wakefield’s Dan Palmeri, SIOR and Paula Lea, CCIM represented The Adoption Exchange in the transaction.

HealthCare Partners Nevada (HCPNV), an Intermountain Health company, has expanded its locations with the opening of a new 3,661 square foot clinic at the Siena Medical Pavilion in the city of Henderson in southern Las Vegas. The freestanding Class A office medical building is located at 2865 Siena Heights Dr and is owned by Welltower. Cushman & Wakefield’s Dan Palmeri, SIOR and Paula Lea, CCIM represented HCPNV in the transaction.

Neptune Society, which provides affordable cremation services, has leased 3,200 square feet of space at the South Shores Shopping Center in central-east Las Vegas. Located at 8510-8584 W. Lake Mead Blvd, the neighborhood center is anchored by Big Lots! and Savers. Cushman & Wakefield’s Dan Hubbard and Joseph Anderson represented the landlord, South Shores LLC, in the transaction.

The Variable Annuity Life Insurance Company (VALIC) has leased 2,004 square feet of Class A office space in the Beltway Corporate Center in southern Las Vegas. The three-story building is located at 8985 S Eastern Ave at Interstate 215 and is owned by 8985 Eastern LLC. Cushman & Wakefield’s Dan Palmeri, SIOR and Paula Lea, CCIM represented VALIC in the transaction.

Las Vegas-founded Brydan Solutions, Inc., an information and technology services company, leased 1,931 square feet of office space in the Meyers Building at 2950 S Rancho Dr in West Las Vegas. Owned by Taos Land Company, LLC, the property is just south of the Palace Station Hotel & Casino. Leo Biedermann with Cushman & Wakefield represented the landlord in the transaction.

101 Convention Center has welcomed Marque Luxury, a leading supplier of authentic pre-owned designer items worldwide, which leased 1,012 square feet for their new Las Vegas office on one of the tower’s upper floors. Owned by Concord Prime LLC & Vegas Starr, the Class A high rise features a newly renovated lobby and is one of the few office towers located in close proximity to the Las Vegas Strip, Las Vegas Convention Center, Sands Convention Center, and Downtown Las Vegas. Jayne Cayton with Cushman & Wakefield represented the landlord in the transaction.

SALES
A private investor has acquired an 11,250-square-foot industrial building located at 4610 Vandenberg Dr in North Las Vegas for $3.4 million. Built in 2000, the building is situated on 5.69 acres. The seller was ARMO Corporation, which was represented by Cushman & Wakefield’s Greg Tassi, Donna Alderson and Nicholas Abraham.

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake External Link on Twitter.

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