Las Vegas
Insider
A communication for brokers, employees, colleagues and friends
February 2021
Table of Contents
04
16
08
19
10
20
12
21
14
23
Las Vegas Research – COVID Impacts
F e a t ure d L is t in g s
Medical Office Sound Fundamentals
L a s Ve ga s I n T h e N e w s
F e a t ure d D e a l s
U p co m in g Ma rc h C a l e n da r
St a te O f T h e F o o d I n d u s t r y
L a s Ve ga s B y T h e N u m b e r s
L a s Ve ga s Em p l oy e e S p ot l i g h t
L a s Ve ga s D ire c to r y
To improve is to change, to be perfect is to change often. ~ Winston Churchill
Who is Colliers? We are enterprising. Our expert advice to property occupiers, owners and investors leads the industry into the future. We invest in relationships to create enduring value. What sets us apart is not what we do, but how we do it. Our people are passionate, take personal responsibility and always do what’s right for our clients, people and communities. We attract and develop industry leaders, empowering them to think and act differently to drive exceptional results. What’s more, our global reach maximizes the potential of property, wherever our clients do business. At Colliers, we accelerate success.
COVID-19 impacts individuals differently – some asymptomatic, some gravely ill. BY JOHN MATT STATER | FEBRUARY 2021
Did the business closures enacted as a response to it impact different office classes and office submarkets differently? There was some reason to think they would in April 2020, when the business restrictions were fresh. Crowded downtowns, with their tall, elevator-served buildings– we were told were on their way out. The current penchant for wide-open spaces and low or no cubicles was a bad idea as well, so perhaps older buildings were going to look attractive? Many
February 2021
guesses, but are they materializing?
4
This article takes a look at office performance in three metrics – vacancy rate growth, asking rental rate growth and sublease square footage growth – in the three classes of professional office, and in the office submarkets in Southern Nevada to see if some are faring better than others.
Las Vegas Research
Class Some folks thought class A office buildings might especially suffer in a post-pandemic world. Often located in dense downtown areas, reliant on public transportation, using cramped elevators to move people from floor to floor – all bad ideas in a world of “social distancing”. Aside from disease-control issues, economic troubles might send businesses looking for more affordable space in class B and C buildings in the suburbs. And what about all those people working from home? Would downsizing be in our future?
Vacancy Growth ( YOY )
Rent Growth ( YOY )
Sublease Growth ( YOY )
Overall Market
7.8%
0%
-4.6%
Class A
-0.7%
-2.9%
59.6%
Class B
19.6%
-0.6%
-20.7%
Class C
1.4%
3.2%
191.1%
Crowded downtowns, with their tall, elevator-served buildings– we were told, were on their way out.
In terms of vacancy, class B office is the clear loser, owning the vast majority of the space vacated since last year. Class A buildings are actually better off now than they were one year ago. This improvement in occupancy, though, occurred alongside a 3 percent decrease in asking rents. Class C buildings actually saw a 3 percent increase in asking rents, despite having more vacant space now than one year ago. In terms of space available for sublease, class A and C buildings show the most growth, while class B buildings saw a year-over-year decrease in sublease square footage. Some of this class B decrease could be the result of those sublease availabilities going back to the landlord and showing up as directly vacant space. The presence of so much additional sublease space in class A and C buildings suggests that while those classes have weathered the pandemic storm well so far, trouble could lie ahead. Continued on page 6
Colliers – Las Vegas Insider
5
Submarkets For at least twenty years, Southern Nevada has seen a persistent migration of office users from the east side of town, which constituted a new development in the 1970s and 1980s, to the west side and Henderson, which saw increased development beginning in the 1990s. The Valley’s submarkets also differ in terms of the age and class of their inventory, their proximity to transportation and residential areas (i.e. travel time) and a few other factors.
Vacancy Growth ( YOY )
Rent Growth ( YOY )
Sublease Growth ( YOY )
Overall Market
7.8%
0%
-4.6%
Airport
-4.0%
4.3%
-75.9%
Downtown
10.3%
-5.6%
0%
East Las Vegas
10.9%
-0.3%
1,408.9%
Henderson
7.5%
6.0%
-36.0%
North Las Vegas
48.6%
-8.1%
N/A
Northwest
20.5%
-3.8%
-29.6%
Southwest
-0.1%
0.5%
15.3%
West Central
7.8%
0.2%
-1.0%
In terms of vacancy, only the Southwest submarket, which is seeing the majority of the Valley’s new office development, and the Airport submarket, survived the business closures with no increase or a decrease in vacancy. The Airport’s resiliency is surprising, but have to do with numerous business migrations to the Southwest that occurred in 2019, leaving 2020 open to improvement. Increases in vacancy were moderate in the older Downtown, East Las Vegas and West Central submarkets. The large jump in vacancy in North Las Vegas
February 2021
has as much to do with the tiny inventory of that submarket as anything else. The surprise
6
is the Northwest submarket, which after many years of stealing tenants from the east side may now be suffering some theft by the neighboring Southwest submarket. All said, vacancy increases do not appear to show a reticence by office tenants for moving away from the crowded Midtown area that was not already occurring before the COVID-19 pandemic.
Class A buildings are holding their own, while class B and C buildings, more reliant on small businesses, are suffering.
Rent Growth paints a picture like that of vacancy growth. The relative stability of rents in East Las Vegas and West Central has more to do with the very low rents already present in those submarkets than strong demand for office space. Henderson’s vacancy growth may be tied to the growth in asking rents in that submarket, and likewise, good demand for office space in the Airport submarket is probably tied to that submarket’s increase in asking rents. The Sublease Picture is particularly interesting. Sublease space fell in the Airport, Henderson, Northwest and West Central submarkets. The Valley experienced a worrying increase in sublease space in 2019, creating the conditions for negative growth in sublease space in 2020 despite the impact of the pandemic. East Las Vegas’s relatively good performance in directly vacant space is completely obliterated by the increase in available sublease space, with that submarket adding over 85,000 square feet of new sublease space over the past year. The Southwest submarket, by comparison, added about 20,000 square feet of new sublease space. The largest concentrations of sublease space in the valley are in the West Central submarket (257,000 square feet) and Northwest (180,294 square feet), again suggesting that the east-towest migration could be ending, to be replaced by a north-to-south migration, specifically a move to the southern stretch of the I-215 Beltway. In the final analysis, the performance of the Valley’s office submarkets, for good or ill, does not appear to be tied to changes in how office space will be utilized in the future due to the pandemic. In fact, it suggests to me that the impact of the pandemic on office usage will be lighter than expected during the early stages of the pandemic. In addition, Class A buildings are holding their own, while class B and C buildings, more reliant on small businesses, are suffering. If there are major new trends in office usage, they do not appear to have manifested themselves just yet, but may do so as we proceed through 2021.
Colliers – Las Vegas Insider
7
Featured Listings Hartwell Medical Center Campus Stacy Shapiro, CCIM •
±1,375 SF - ±24,619 SF Available for Lease
•
Ability for use as a single or multi-tenant medical office building
•
Asking Rate: $1.40 - $1.60/SF/NNN
Valley View Hacienda Business Center II Dean Willmore, SIOR, Mike Willmore and Lauren Willmore •
±20,000 SF warehouse/distribution space
•
Zoned (M-1) Clark County
•
Lease Rate: $0.75/SF NNN
2556 Anthem Village Drive
February 2021
Scot Marker
8
•
±6,320 SF Professional Freestanding Building
•
Zoning: Community Commercial
•
For Sale: $2,650,000.00
125 Miller Avenue Eric Molfetta, MBA and Amanda Irving •
Industrial Office/Warehouse Situated on ±4.12 Acres
•
Zoned M3 - Heavy Industrial
•
List Price: $3,750,000
1671 W. Horizon Ridge Parkway, Suite 100 Taber Thill, SIOR, Patti Dillon, SIOR and Megan McInerney •
±3,766 SF Office Condo in Multi-Tenant Building
•
Owner-user office condo for sale on 1st floor of multi-tenant office building
•
Sale Price: $1,167,460 ($310 PSF)
4650 S. Maryland Parkway Steve Neiger, CCIM, Chris Clifford and Brett Rather •
±8,064 SF Retail Building
•
Directly across from UNLV Student Union and main UNLV campus
•
For Sale: $1,895,040 ($235 PSF)
Colliers – Las Vegas Insider
9
Medical Office solid through 2020
U.S. Medical Office Fundamentals Remain Sound.
Rents & Vacancy •
The U.S. MOB vacancy rate stands at 8.6% as of Q4 2020, up from 7.8% at year-end 2019. This compares favorably to the overall office sector vacancy rate of 13.2%.
•
Average MOB NNN asking rents are $20.95 per square foot, up from $20.22 per square foot at year-end 2019.
•
Average year-over-year MOB rent growth across the top 50 U.S. metro markets in 2020 was 1.8%, the same rate as in 2019.
•
Los Angeles has the highest NNN asking rates among the top 10 MOB metro markets at $34.41 per square foot. Boston ranks second at $27.66 per square foot. Chicago has the lowest asking rates among the top 10 at $19.76 per square foot.
•
Rent growth among the top 10 markets in 2020 was led by Miami at 2.5%, followed by Atlanta at 2.3%.
BY STEPHEN NEWBOLD | 16 FEBRUARY 2021
The U.S. Medical Office (MOB) sector posted a solid performance in 2020. Average pricing and rents increased, and cap rates tightened. MOB vacancy levels are significantly below those for the overall office sector. Net absorption outpaced new supply across the 50 leading MOB markets as a whole. Sales volumes held up relatively well when compared to the broader decline in CRE investment activity.
February 2021
RE AD MORE
10
Stephen is the National Director of Office Research for Colliers International, where he focuses on analyzing office property trends, compiling Colliers’ thought leadership and delivering timely market projections to provide clients with a leading edge in our industry.
Las Vegas Updates
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El Cortez revamped,
MSG Sphere expects to be
Vegas Golden Knights
positioned for rebound
completed by 2023
allowed to host again
RENOVATIONS THROUGHOUT
HEAVIEST LIF T JUST COMPLETED
T-MOBILE ARENA TO HOST FANS
Nearly 42,000 square feet of new carpet
Crews raised a 170-ton steel compression
Approval to host at 15 percent capacity at
on its casino floor and the addition of a
ring that will serve as the steel frame for
T-Mobile Arena for home games starting
new high-limit table games pit.
the entertainment venue’s domed roof.
March 1 has been approved.
Colliers – Las Vegas Insider
11
LV
In the news Colliers Las Vegas Retail Broker Chris Clifford Promoted to Senior Vice President February 04 – Nevada Business Magazine
Colliers | Las Vegas Industrial Team Sells Out 6 Unit Industrial Complex Valued at $6.6 Million February 08 – Nevada Business Magazine
Need Press?
Get the news out! Reach out and let us know the good news. New listings, properties just sold/leased,
SunCap Property, Diamond Realty Investments to Develop SunPoint West Industrial Campus in North Las Vegas February 17 – Rebusinessonline.com
Real estate firms plan to build North Las Vegas industrial park February 17 – Las Vegas Review-Journal
team news, etc! Help us, help you. Nicholas Gordan newest associate vice president February 21 – VEGAS INC.
February 2021
Congratulations
12
Tyler’s promotion reflects his expertise, achievements, and commitment to the success of our brokerage and our clients.
Thriving Life Sciences Developers are responding to this surging growth driver with new construction across the country. Read More Read More
3 Ways Technology & Digital Advancements are Transforming Healthcare Delivery Healthcare delivery is a system of people, institutions, and resources to deliver services that meet the health needs of a target population (NIH). These systems, however, are constantly shifting as new technology is made available. For many hospitals and health centers, the
U.S. Industrial The Outlook Remains Bullish
adoption of new technology and digital
The U.S. industrial market expansion
processes is key because it helps them
broke records in 2020, despite the
stay a step ahead through proactive data-
headwinds of the broader economic
tracking, real-time distance monitoring,
slump and other pandemic challenges.
automated tasks and more.
The rapid growth of e-commerce established the industrial sector as the new darling of commercial real estate, and occupancy gains, new supply, and low vacancy continued on a positive trajectory. However, year-over-year
Retail Rundown
U.S. industrial investment sales volume
The retail market faced negative net absorption of 27.6 million square feet in 2020, per CoStar. This was driven by record store closures, nearly 16,000.
commercial sectors in 2020.
dropped nearly 16% from this time last year while prices rose 5.2%. Industrial price growth outpaced that of all other
Read More
Colliers – Las Vegas Insider
13
Featured Deals
Medical Office Sale A sale to MMK Bautista LLC. The ±4,005 square foot medical office property is located in Montessouri Professional Office Complex at 2595 Montessouri Drive in Las Vegas. The transaction amount was $1,049,000.00. Alexia Crowley, CCIM of Colliers International represented the seller, MILFORD CHRISTOPHER.
Industrial Sale A sale to Everett Family Survivor’s Trust. The ±16,523 square foot industrial property is located at 1857 Helm Drive in Las Vegas. The transaction amount was $2,616,726.00. Dean Willmore, SIOR, Alex Stanisic, Mike Willmore and Lauren Willmore of Colliers International represented the seller, BKM Spencer 116, LLC. Pat Marsh, SIOR and Sam Newman of Colliers International represented the buyer.
Retail Sale A sale to Schneider Abby Trust. The ±0.33 acre Jiffy Lube property is located at 4320 South Durango Drive in Las Vegas.
February 2021
The transaction amount was $1,810,345.00. Brian Fike of
14
Colliers International represented the seller, Fisher Holding Company LLC.
Retail Sale A sale to Knowlton 2001 Trust dated September 17, 2001 and The Jill Knowlton GST Exempt Trust, u/t/a dated June 26, 1986. The ±700 square foot, The Human Bean, single tenant ground leased property, located at 71 East Lake Mead Parkway in Henderson. The transaction amount was $1,250,000.00. David Grant, Grant Traub, SIOR, and Chris Connell, SIOR of Colliers International represented the seller, Clark County Federal Credit Union.
Industrial Lease A lease to Fohse, Inc. The ±23,604 square foot industrial property is located at 6280 Annie Oakley Drive in Las Vegas. Suzette LaGrange, CCIM and Kara Walker, CCIM of Colliers International represented the landlord, JPFH II, LLC.
Industrial Lease A lease to Arroweye Solutions, Inc. The ±76,003 square foot industrial property is located at 6650 Spencer Street, Suite 100 in Las Vegas. Dean Willmore, SIOR, Alex Stanisic, Mike Willmore, Lauren Willmore, Grant Traub, SIOR and Chris Connell, SIOR of Colliers International represented the landlord, Spencer Street Investors, LLC.
Colliers – Las Vegas Insider
15
Upcoming Calendar March 2021 – Mark your schedules, lots going on!
CREW Luncheon Zoom
NAIOP Virtual Breakfast
Birthday Celebration
11:30am–1:00pm
7:00am–8:45am
2:30pm–3:30pm
Tuesday, March 9
Thursday, March 18
Thursday, March 25
SIOR Luncheon Zoom 11:45am–1:30pm
Investment Monthly Meeting Zoom
Wednesday, March 10
9:00am–10:30am
NAIOP Virtual Spotlight Awards
Tuesday, March 23
4:00pm–6:00pm
(Grant Traub to send Zoom link)
Thursday, March 25
Clocks Spring Forward– Daylight Savings Time Sunday, March 14
Retail Monthly Meeting Zoom 9:00am–10:30am Tuesday, March 16
Office Monthly Meeting Zoom Wednesday, March 24 (Taber Thill to send Zoom link)
CCIM Luncheon Zoom
Research Tools Lunch & Learn
Wednesday, March 24
Tuesday, March 16
11:30am–1:30pm
Industrial Monthly Meeting 9:00am–10:00am
Happy St. Patrick’s Day Wednesday, March 17
Research Tools Lunch & Learn 10:00am–11:00am
February 2021
Wednesday, March 17
16
Main Conference Room
9:00am–10:00am
(David Grant to send Zoom link)
2:00pm–3:00pm
Main Conference Room
Thursday, March 25
Al Twainy Sam Newman Gabe Skerlich Chris Clifford Danielle Scarano
Brian Riffel, SIOR
2020/21 Sales Award Trip March 11–15, 2022 Fairmont Kea Lani in Wailea, Maui
2021 Trip Qualifiers
1. Brian Rif fel
2020 Trip Qualifiers
1. Dan Doher t y
2. Paul Sweetland 3. Dav id Grant 4. Chris L ane 5. Jerr y Dot y 6. Spencer Pinter 7. Keith Cubba
Broker of the month A Giving Spirit Brian’s donation will be going to Spread the Word Nevada.
8. Chris Clif ford
A children’s lite ra cy nonp rofit, 501 (C)(3)
9. Brian Rif fel
corporation, dedic ated to advancing early
10. Pat Mar sh
childhood literacy by placing books into the
11. Grant Traub
hands and homes of children within Nevada’s at
12. Dean W illmore
risk, low income communities. While developing
13. Dan Gluhaich
a love of reading, these libraries promote future
14. A lex St anisic
academ ic achievement and self-confidence, which impacts lifelong success. Since 2001, Spread the Word Nevada has
Good luck to our future qualifiers.
distribu ted more than 5.9 million gently used and new books to more than 665,010 lowincome youth in Nevada.
LINKS FOR LIFE
F O U N D A T I O N
Colliers – Las Vegas Insider
17
Chris’s promotion reflects his expertise, achievements, and commitment to the success of our brokerage and our clients.
Congratulations, Chris Clifford Promoted to Senior Vice President Retail Division
Aloha! You’ve made the plane.
February 2021
The first qualifier for the 2020/2021 Sales Award Trip is Brian Riffel.
18
State of the Food Industry 2021
Behind-the-scenes to uncover how COVID-19 has affected the entire food industry’s supply chain.
The report reviews the following: •
The pandemic’s effect on food demand and consumption
•
The response of food distribution and cold storage to changes in food consumption
•
How cold storage third-party logistics (3PLs) are being affected by the pandemic
•
The challenges compounding for food manufacturers and processors during the pandemic
•
How food industry real estate investors, developers and owners can leverage the changes for long-term success
BY CHRIS CUMMINGS | 19 FEBRUARY 2021
It’s no secret that the coronavirus pandemic of 2020 has profoundly impacted virtually every industry worldwide. Perhaps one of the most evident and most crucial sectors hit has been the food industry. The effects were quickly apparent as stories ranging from food shortages to food waste and processing plant closures decorated headlines across the U.S. and worldwide.
RE AD MORE
As National Director of Colliers’ National Food Advisory Services, Chris Cummings is the company’s leading expert on refrigerated warehousing, freezer and cooler distribution, food processing and dry food distribution facilities. Chris and his team coordinate all technical experts, vendors and consultants involved in the real estate process for the United States’ leading food organizations.
Colliers – Las Vegas Insider
19
Las Vegas Office Report January 2021
Broker Rankings YTD 1.
Brian Riffel
24. Jennifer Lehr
2.
Dan Doherty
25. Mike Willmore
3.
Pat Marsh
26. Chris Connell
4.
Keith Cubba
27. Brett Rather
5.
Paul Sweetland
28. Steve Neiger
6.
Jeff Swinger
29. Chase Pavlov
7.
Jerry Doty
30. Ryan Hendershot
8.
Chris Lane
31. Patti Dillon
9.
Eric Molfetta
32. Taber Thill
10. Alexia Crowley
33. Megan McInerney
11. Tyler Jones
34. Lauren Willmore
12. Spencer Pinter
35. Mike Mixer
13. Chris Clifford
36. Dan Gluhaich
14. David Grant
37. Brian Fike
15. Sam Newman
38. Steve Haynes
16. Grant Traub
39. Suzette Lagrange
17. Gabe Skerlich
40. Kara Walker
18. Al Twainy
41. Chris Bentley
19. Stacy Shapiro
42. George Connor
20. Dean Willmore
43. Rebecca Staniec
21. Alex Stanisic
44. Joe Bonifatto
22. Gabe Telles
45. Amanda Irving
23. Scot Marker
46. Chris Lobello
February 2021
Top 10 Agents – January 2021
20
Office
Other
2%
10% Retail
3%
January Property Types 159% Monthly Budget 13% YTD Budget Industrial
43%
Land
42%
Sales vs. Lease Revenue 69% - Sales
31% - Lease
January Anniversaries
1.
Brian Riffel
6.
Jeff Swinger
2.
Dan Doherty
7.
Jerry Doty
Patti Dillon
2004
17 Years
3.
Pat Marsh
8.
Chris Lane
4.
Keith Cubba
9.
Eric Molfetta
Erica Aulino
2016
5 Years
5.
Paul Sweetland
10. Alexia Crowley
Alexia Crowley
2017
4 Years
Evan Ranes
2018
3 Years
Gabe Skerlich
2018
3 Years
Jennifer Lehr
2019
2 Years
San Diego Aquarium
Las Vegas Feature
Sara Broder Transaction Specialist
sara.broder@colliers.com +1 702 836 3771
Sara accelerates success. You have to sing karaoke– what song do you pick? During my college years in Japan, karaoke was definitely one
Monster Jam Las Vegas
Well-traveled. Diverse. Cultured.
of my top 5 hang-out places! 80’s songs included: Wake me up before you Go-Go, Girls Just Want To Have Fun, Love Shack, Sugar, Surfin’ is also on the list.
You’re well-traveled. What’s your favorite place you’ve been? Why? Venice, Italy is still the most memorable place I’ve ever visited
In Croatia with her son Dylan
but some good classic oldies like I Can’t Help Myself, Sugar
with wonderful food, beautiful scenery, people and history. I would rather go back to Venice than have a crappy vacation anywhere else. “Mangiare Per Vivere e Non Vivere Per Mangiare” – “Eat to live, don’t live to eat”
Christmas has always been my favorite holiday. We try to incorporate Swedish Christmas traditions such as baked Swedish sweets called “lussekatt”, drink mulled wine called “glogg”, celebrate all four Sundays in December called
Broder family back in Sweden
What’s your favorite tradition or holiday?
“Advent” – to give small taste of “home” since I can’t be with my family who lives so far away.
What’s a meal that you never get tired of and could eat anytime/anyday? Steak would be the one item I can eat anytime and anyday! Medium rare rib-eye is my favorite and I don’t need any sides with it – just a glass of wine! Colliers – Las Vegas Insider
21
2020 Everest Awards
Our Everest Club represents professionals who have excelled at client service, worked very collaboratively and lived Colliers’ values. A big congratulations to
February 2021
our Las Vegas enterprising individuals!
22
INDUSTRIAL
INDUSTRIAL
INDUSTRIAL
Dan Doherty, SIOR
Spencer Pinter
Paul Sweetland, SIOR
Direc tor y Industrial
Hotel/Resort Mike Mixer
Property Management
Dan Doherty
+1 702 836 3707
Valerene Corbin
+1 702 836 3761
Jerry Doty
+1 702 836 3735
+1 702 836 3777
Jennifer Kennedy
+1 702 836 3772
Ryan Hendershot
+1 702 836 3751
Amanda McDaniel
+1 702 836 3745
Tyler Jones
+1 702 836 3754
Jennifer Mount
+1 702 836 3753
Suzette LaGrange
+1 702 836 3799
Christine Norberg
+1 702 836 3704
Chris Lane
+1 702 836 3728
Angelina Scarcelli
+1 702 836 3768
Pat Marsh
+1 702 836 3741
Sam Newman
+1 702 836 3724
Chase Pavlov
+1 702 836 3731
Spencer Pinter
+1 702 836 3776
Brian Riffel
+1 702 836 3773
Danielle Scarano
+1 702 836 3747
Alexander Stanisic
+1 702 836 3742
Paul Sweetland
+1 702 836 3750
Gabe Telles
+1 702 836 3758
Kara Walker
+1 702 836 3705
Dean Willmore
+1 702 836 3763
Mike Willmore
+1 702 836 3748
Lauren Willmore
+1 702 836 3730
Investment Services Brian Fike
+1 702 836 3744
Amanda Irving
+1 702 836 3732
Eric Molfetta
+1 702 836 3756
Gabriel Skerlich
+1 702 836 3708
Grant Traub
+1 702 836 3789
Staff Nicole Cauilan
+1 702 836 3706
Sara Johansson
+1 702 836 3771
Gina Jones
+1 702 836 3783
Brianna Maldonado +1 702 836 3701
Golf Course Brokerage Keith Cubba
+1 702 836 3733
Caryl Lou Paayas
+1 702 836 3702
Matt Stater
+1 702 836 3781
Chris Sutton
+1 702 836 3721
Multifamily Office Chris Connell
+1 702 836 3709
Patti Dillon
+1 702 836 3790
Megan McInerney
+1 702 836 3700
Rebecca Staniec
+1 702 836 3792
Taber Thill
+1 702 836 3796
Christopher Bentley
+1 702 836 3779
Shalonda Hughes
+1 702 836 3765
Jeffrey Swinger
+1 702 836 3764
Medical Office Retail
Alexia Crowley
+1 702 836 3778
Stacy Shapiro
+1 702 836 3762
Chris Clifford
+1 702 836 3746
George Connor
+1 702 836 3786
Dan Gluhaich
+1 702 836 3757
David Grant
+1 702 836 3785
Jennifer Lehr
+1 702 836 3736
Richard Koldewyn
Scot Marker
+1 702 836 3782
Heidi Meidenbauer +1 702 836 3726
Steve Neiger
+1 702 836 3760
Leah Mullen
+1 702 836 3775
Brett Rather
+1 702 836 3794
Evan Ranes
+1 702 836 3749
Al Twainy
+1 702 836 3725
Brandon Roper
+1 702 836 3734
Valuation Services +1 702 836 3738
Land Steven Haynes
+1 702 836 3727
LAS VEGAS Colliers – Las Vegas Insider
23
Our mission is to maximize the potential of property to accelerate the success of our
MARKET CONTACT:
clients and our people.
Mike Mixer, SIOR Executive Managing Director
+1 702 735 5700
400 offices in 67 countries
mike.mixer@colliers.com John Stater Research & GIS Manager
+1 702 836 3781
john.stater@colliers.com
$3.3 billion in annual revenue 2 billion square feet under management 18,000+ professionals and staff
Colliers | Las Vegas 3960 Howard Hughes Parkway, Suite 150 Las Vegas, Nevada 89169 | USA +1 702 735 5700 www.colliers.com/lasvegas
54,000 Lease/Sale Transactions $40B Assets under management
About Colliers Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn. © 2021 Colliers International. The information furnished has been obtained from sources we deem reliable and is submitted subject to errors, omissions and changes. Although Colliers Nevada, LLC has no reason to doubt its accuracy, we do not guarantee it. All information should be verified by the recipient prior to lease, purchase, exchange or execution of legal documents.