Accelerating success.
April 2015
Las Vegas Insider A communication for brokers, employees, colleagues and friends
“You have to learn the rules of the game and then you have to play better than anyone else.” – Albert Einstein
TABLE OF CONTENTS
> DO STAGNANT INCOMES MATTER
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> BROKER OF THE MONTH
11
> FEATURED DEALS
5
> WELCOME TO COLLIERS
12
> NEW LISTINGS & IN THE NEWS
7
> TIME IS RUNNING OUT...
12
> UPCOMING EVENTS
8
> MARCH HAWAII TRIP
> BROKER RANKINGS
9
> COMPANY DIRECTORY
10
> BY THE NUMBERS
> COLLIERS UNIVERSITY
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TABLE OF CONTENTS
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Do Stagnant Incomes Matter? BY: JOHN STATER You might have read that incomes have been stagnant in the United States for the last 30 or more years. The rich are getting richer, of course, but all of us folks in the middle and lower class have been held in place, no movement, for decades. Of course, for those of us who actually remember the 1980s and 1990s, this impression might seem a little off. My middle class life in the 1980s wasn’t nearly as plush as my middle class life is now, but perhaps I’m just misremembering things. A look online shows up a median household income in 1982 of $18,801. Adjusting for inflation, that’s about $46,123 in 2014. Median household income in 2014 … $49,486. So, not much movement, to be sure. The median income does appear to have been stagnant over the past thirty years. Focusing on incomes, however, misses the other side of the coin … expenses. Let’s look at groceries. I found a few prices from the 1980’s. We can adjust them for inflation, and then compare to modern prices. Item Milk Bacon Bread Beef, Ground Pork Chops Rib Eye Steak 3
DO STAGNANT INCOMES MATTER
1980’s (Adjusted) $3.31/gal $3.65/lb $1.19/loaf $3.99/lb $4.99/lb $8.11/lb
2010’s (Actual) $2.49/gal $2.19/lb $0.99/loaf $2.49/lb $3.99/lb $6.99/lb
According to this data, food prices are generally lower now than in the 1980’s. I remember eating lots of ground beef and tuna casserole in the 1980’s, and not much steak, so this rings true. Steak was a treat when I was a kid. Heck, Shake-N-Bake chicken was a pretty big deal back in the day. Of course, it’s not just food. In 1986, you could get a nice Commodore computer for about $400. In modern dollars, that’s about $864. A modern, base line Dell computer (with monumentally more computing power than that old Commodore) runs about $400 as well. A thousand times more computer at half the price. Not too shabby. How about smart phones? A modern smart phone can replace all sorts of 1980’s technology – brick phones, the Sony Walkman, cameras, video cameras, digital watches, personal computers, GIS systems (to which nobody but the military had access). Add these together, and you’re looking at about $5,000 worth of tech (most of it from the mobile phone alone) in 1980’s dollars, and about $11,000 in today’s dollars. A new smart phone comes in at around $300 to $400. Of course, this is not the case with everything we buy. Stamps in 1980, adjusted for inflation, were about $0.03 cheaper than then they are today. Comic books are more expensive (and smaller) now than then, but they’ve also shifted from being sold on newsstands to children to being sold to adults in boutiques comic book stores. Books are also more expensive now than then (even on Kindle). A Camero Coupe in 1980 went for an adjusted $18,600. A modern Camero Coupe goes for $23,700 MSRP – a higher price, but arguably for a far superior automobile. Gas is cheaper at the moment (around $2.03 per gallon now vs. an inflation adjusted $2.96 per gallon in 1980), though that might change, and of course a year ago gas would have more been expensive now than then. Note also the meteoric rise in the cost of education and health care – two segments of the economy with significant government involvement. Adjusting asking rates for commercial real estate is also enlightening. While I don’t have asking rates going back to the 1980’s, I do have asking rates going back to 2002. If we adjust those old rates to 2014 dollars, you realize just how inexpensive commercial real estate has become. Asking Rate Industrial Average Office Average Retail Average
2002 (Adjusted) $0.71 $2.41 $1.87
2014 (Actual) $0.55 $1.90 $1.31
The story here is not how much or little incomes have changed, but the buying power of the dollar. The marketplace has knocked down prices on not only our day-to-day needs, but also on luxuries. Despite seemingly stagnant incomes, Americans today have much more buying power than they did decades ago, which begs the question… why are we so deep in debt?
DO STAGNANT INCOMES MATTER
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FEATURED DEALS DAVID GRANT, GRANT TRAUB & CHRIS CONNELL COMPLETE ±70,709 SF, ±9.82 ACRE RETAIL DEAL
A sale to DM Rhodes Ranch, LLC. The ±70,709 square-foot Von’s anchored shopping center is situated on 9.82-acres, also known as the Rhodes Ranch Town Center, is located at 7305, 7335, 7345, 7415, 7425, 7435, and 7445 South Durango Drive in Las Vegas. The transaction value was $25,250,000. David Grant, Grant Traub and Chris Connell of Colliers International represented the seller, Bayport Town Center Associates, LLC.
AL TWAINY COMPLETES ±5,280 SF MULTI-FAMILY DEAL A sale to William Somana, LLC. The ±5,200 square-foot multi-family property is located at 4640 Koval Lane in Las Vegas. The transaction value was $350,000. Al Twainy, CCIM of Colliers International represented the buyer.
DAVID GRANT COMPLETES ±1.25 ACRE DEAL A sale to Washworks Expres,s LLC. The 1.25 acre improved land is located at 4620 Blue Diamond Road in Las Vegas. The transaction value was $625,000. David Grant of Colliers International represented the seller, RMS, Inc.
CHRIS CONNELL & GRANT TRAUB COMPLETE ±3,861 SF OFFICE DEAL A lease to Robert Half International, Inc. The ±3,861 square-foot office property is located at 1050 East Flamingo Road, Suite E-320 in Las Vegas. Chris Connell and Grant Traub of Colliers International represented the lessor, FKC Flaming,o LLC. 5
FEATURED DEALS
WILLMORE, DELEW & PANCIROV COMPLETE ±4,338 SF INDUSTRIAL DEAL A 12 month lease renewal to Climatec. The ±4,338 square-foot industrial property is located at 5275 Arville Street, Suite 200 in Las Vegas. Dean Willmore, SIOR, Mike DeLew, SIOR, and Greg Pancirov, SIOR of Colliers International represented the lessor.
JOE BONIFATTO COMPLETES ±6,000 SF RETAIL DEAL A sale to FAE Holdings, LLC. The ±6,000 square-foot retail property is located at 4840 South Fort Apache Road in Las Vegas. The transaction value was $980,000. Joe Bonifatto of Colliers International represented the seller, PWDAF Fort Apache, LLC.
JASON T. LESLEY & BRIDGET RICHARDS COMPLETE ±8,200 SF MEDICAL DEAL A sale to Rockwell Debt Free Properties, Inc. The ±8,200 SF brand-new, stand-alone dialysis center was leased by Fresenius Medical Care Holdings, Inc. (NYSE: FMS) for 15 years. The property is located at 1684 Bishop Road, Chehalis, WA. The transaction value was $4,725,000. Jason T. Lesley, CCIM and Bridget Richards, CCIM represented the seller, Chehalis Renal Construction, LLC.
DEAN WILLMORE COMPLETES ±25,000 SF INDUSTRIAL DEAL A lease to Morasi, Inc. The ±25,000 square-foot warehouse/distribution property is located at 3920 West Sunset Road in Las Vegas. Dean Willmore, SIOR of Colliers International represented the lessee.
TABER THILL, RYAN MARTIN & PATTI DILLON COMPLETE ±33,447 SF OFFICE DEAL A lease to Agilysys NV, LLC. The ±33,447 square-foot office property is located at 6775 Edmond Street in Las Vegas. Taber Thill, SIOR, Ryan Martin, SIOR CCIM and Patti Dillon of Colliers International represented the lessee.
DOHERTY, BORST, LANE, DOTY & PINTER COMPLETE ±26,752 SF INDUSTRIAL DEAL A lease to Morpheus Technologies, LLC. The ±26,752 square-foot industrial property is located at 6275 South Sandhill Road, Suite 100 & 200 in Las Vegas. Spencer Pinter of Colliers International represented the lessee. Dan Doherty, SIOR, Susan Borst, CCIM, Chris Lane and Jerry Doty of Colliers International represented the lessor, KTR LV II, LLC. FEATURED DEALS
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NEW LISTINGS SCHEER, THILL, MARTIN & DILLON 2300-2316 W. Charleston | Las Vegas, NV • • •
STEVEN HAYNES Sky Pointe Ninety Five | Las Vegas, NV • • • •
MIKE DELEW 3934 Silvestri Lane | Las Vegas, NV
MEDICAL
±54,000 SF Medical Office Building for lease $1.85/SF FSG Located in Las Vegas Medical District
LAND
• •
• • • • RENAE RUSSO 1168/1170 Center Point | Las Vegas, NV
3.78 Acres zoned T-C Frontage along U.S. 95 $1,000,000 1.8 miles from Centennial Hospital INDUSTRIAL
•
VINCE SCHETTLER E. Owens & Hollywood Blvd. | Las Vegas, NV
• • • • •
LAND
APNs 140-26-102002 & 003 Reduced Price: $540,000 with Properties total ±9 Gross Acres Perfect for Rural Residential Estates INDUSTRIAL
±5,648 SF Hard to find free standing corner lot Zoning IG 2 Grade roll up doors Warehouse evap. cooled
CHRIS CONNELL 4955 Durango Drive | Las Vegas, NV
16,888 SF High Image Industrial Building Excellent Airport submarket location Fenced Yard with Two (2) Grade level Roll up doors
OFFICE
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•
•
SPRING TIME RENTAL RATE REDUCTION THRU 6/30/15! ±817 & ±3,045 SF Available for Immediate Occupancy Lease Rates: $1.50 - $1.65 PSF/Month Modified Gross
COLLIERS IN THE NEWS Nevada Business - 04/13/2015 “Colliers International: Demand for Commercial Real Estate at Seven-Year High”
http://www.nevadabusiness.com/2015/04/colliers-international-demand-commercial-real-estate-seven-year-high/
Vegas Inc. - 02/15/2015 “Ikea starts construction on gargantuan Las Vegas store”
http://vegasinc.com/business/2015/apr/09/ikea-starts-construction-gargantuan-las-vegas-stor/
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NEW LISTINGS & IN THE NEWS
Mike’s Quote of the Month: “When you talk, You are only repeating what you already know. But when you listen, you might learn something new” -Dalai Lama-
UPCOMING APRIL & MAY EVENTS APRIL 22 | HEALTHY LUNCHES HOSTED BY LISA CHEPLAK Colliers Café | 11.30 am
APRIL 22ND
APRIL 29 | MONTHLY OFFICE TEAM MEETING Main Conference Room | 9:30am
HEALTHY LUNCHES
APRIL 30 | NAIOP GOLF TOURNAMENT Paiute Las Vegas Golf Club MAY 12 | USGBC BREAKFAST MEETING MAY 13 | BOARD OF DIRECTORS MEETING Las Vegas Office MAY 13 | SIOR MONTHLY LUNCHEON Maggiano’s Little Italy MAY 14 | LINKS FOR LIFE TOURNAMENT Las Vegas Country Club
APRIL 29TH MONTHLY OFFICE MEETING
APRIL 30TH NAIOP GOLF TOURNAMENT
MAY 13TH BOD MEETING IN LAS VEGAS
MAY 14 | CREW LUNCHEON Las Vegas Country Club
MAY 13TH
MAY 17 - MAY 20 | ICSC RECON CONVENTION Las Vegas Convention Center
SIOR MONTHLY LUNCHEON
MAY 21 | NAIOP BREAKFAST Orleans Hotel & Casino MAY 27 | CCIM LUNCHEON Palms Hotel & Casino MAY 27 | RETAIL DIVISION MEETING Main conference | 9:00 am
MAY 14 LINKS FOR LIFE
MAY 17-20 ICSC RECON CONVENTION UPCOMING EVENTS
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LOOK WHO MADE THE PLANE! 2015 SALES AWARD TRIP MAUANA KEA - APRIL 18, 2016 - APRIL 22, 2016
YEAR-TO-DATE BROKERS WHO QUALIFY FOR THE HAWAII TRIP
DAN DOHERTY MIKE MIXER
MIKE STUART DAVID GRANT
BROKER RANKINGS - YEAR TO DATE: 2015 1. DAN DOHERTY 2. MIKE STUART 3. DAVID GRANT 4. MIKE MIXER 5. SPENCER PINTER 6. SUSAN BORST 7. GRANT TRAUB 8. CHRIS CONNELL 9. DAN GLUHAICH 10. BRIDGET RICHARDS 11. JASON LESLEY 12. DEAN WILLMORE 13. RYAN MARTIN 14. TABER THILL 15. PAT MARSH 16. PATTI DILLON 17. PHILLIP DUNNING 9
BROKER RANKINGS
18. BRIAN RIFFEL 19. CHRIS LANE 20. SCOT MARKER 21. MIKE DELEW 22. ANDREW KILDUFF 23. STACY SCHEER 24. ERIC MOLFETTA 25. TOM NASEEF 26. ERIC TUMBLESON 27. PAT MCNAUGHT 28. REBECCA STANIEC 29. JOE BONIFATTO 30. AL TWAINY 31. SCOTT GRAGSON 32. VINCE SCHETTLER 33. GREG PANCIROV 34. RENAE RUSSO
35. ROBERT TORRES 36. FRANK MARRETTI 37. KEITH CUBBA 38. GARRY CUFF 39. DAVE FREAR 40. TOM STILLEY 41. SUZETTE LAGRANGE 42. CHRIS LOBELLO 43. JOSH SMITH 44. CHARLES CONNORS 45. SAM NEWMAN 46. GEORGE CONNOR 47. JULIE BAUMAN 48. STEVEN HAYNES 49. KARA WALKER 50. JOHN KILPATRICK
BY THE NUMBERS - MARCH 2015 LAS VEGAS - MARCH 2015 RESULTS PROPERTY TYPES Multi Family 1%
SALES REVENUE vs LEASE REVENUE OFFICE 21%
LEASE 39%
Retail 49% INDUSTRIAL 20% SALE 61%
Land 9%
53 DEALS IN MARCH ANNIVERSARIES: MARCH 2015 1. MIKE DELEW
1995
20 YEARS
2. TABER THILL
2002
13 YEARS
3. BRIAN RIFFEL
2002
13 YEARS
4. SUZETTE LAGRANGE
2005
5. CHRIS LANE
TOP 10 AGENTS: MARCH 2015 1. DAVID GRANT
6. SPENCER PINTER
2. GRANT TRAUB
7. TABER THILL
10 YEARS
3. CHRIS CONNELL
8. RYAN MARTIN
2010
5 YEARS
4. DAN GLUHAICH
9. DAN DOHERTY
6. JOE BONIFATTO
2012
3 YEARS
7. AL TWAINY
2013
3 YEAR
5. MIKE MIXER
10. PATTI DILLON
8. BRANDY DUMAS
2014
1 YEAR
9. JENNIFER POMPI
2014
1 YEAR
10. BRIDGET RICHARDS
2014
1 YEAR
11. JASON LESLEY
2014
1 YEAR BY THE NUMBERS
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BROKER OF THE MONTH - MARCH 2015 What is your favorite quote? Today, my favorite quote would be “Every man’s life ends the same way. It is only the details of how he lived and how he died that distinguish one man from another.” Ernest Hemingway What is the best advice someone has given you? My father has given me the best advice his entire life – some favorites include “pay yourself first”, “bulls make money, bears make money but pigs get slaughtered”, and of course, “listen”. What do you enjoy doing when you’re not working? I enjoy spending time with my family, watching movies, and spending time in Park City. Where is your favorite place to take an out-of-town guest? It’s either extremes - Joe’s Stone Crab, Hank’s, or just In-N-Out Burger.
DAVID GRANT SENIOR VICE PRESIDENT RETAIL DIVISION Colliers Las Vegas
PROFILE David A. Grant is a Senior Vice President in the Retail Division at Colliers International, Las Vegas, Nevada. David is experienced in all phases of retail real estate, including site selection, design, development, leasing and investment sales. He has built strong relationships within the local and regional development and brokerage communities.
CONGRATULATIONS DAVID!
ICEBREAKER - INTERESTING TIDBITS FROM PEOPLE YOU WORK WITH What are your nicknames? Mimi What is the best book you’ve ever read, and why? The Bible, I believe the bible is the word of God, I think some will call me crazy but sometimes things don’t always have to be fully explained to be true. That is kind of the point of “Faith”. I also believe there is a God shaped hole in all of us. No matter how hard you try to fill it with money, fame and relationships, intimacy, other idols will never satisfy your soul. What is your favorite quote? “Now faith is confidence in what we hope for and assurance about what we do not see” Hebrews 11:1 NIV What’s the best advice someone has given you? Never take back what has already been done, you only can move on and learn from it What do you enjoy doing when you’re not working? Spending time with my family, cooking and watching movies.
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BROKER OF THE MONTH
MAURICA BROWN Research Analyst
WELCOME TO COLLIERS! CHRISTINA CASTLE | Property Assistant Christina will be joining the Property Management Department as a Property Assistant. Christina brings to Colliers more than 10 years of administrative experience. Prior to joining Colliers, she was the Assistant Property Manager for Ovation Property Management where she assisted the department with daily operations, vendor invoices, new tenant leases and agreements, monthly property inspections, reports and much more. When not at work, Christina enjoys spending time with her four beautiful children, in addition to painting, traveling, and spending time at the beach.
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TIME IS RUNNING OUT ...
FOR LI FE KS N I
2 015
GET YOUR
TICKETS
WHILE THEY LAST! WELCOME TO COLLIERS & TIME IS RUNNING OUT
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MARCH HAWAII TRIP The Hawaii Trip took place on March 18-22, 2015. Congratulations to those who made the plane! Here are some photos to recap the event.
The Closing band at the last event.
Scott Gragson slide at the Sales Meeting.
Las Vegas 1st time qualifiers: Bridget Richards, Jason Lesley, Dan Gluhaich, Robert Torres, Susan Borst (not in attendance), Garry Cuff (not in attendance).
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MARCH HAWAII TRIP
MARCH HAWAII TRIP
From Las Vegas for the Everest Club Inductees: Dan Doherty, Scott Gragson, Pat Marsh, Michael Stuart
MARCH HAWAII TRIP
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LAS VEGAS PHONE DIRECTORY INDUSTRIAL Susan Borst Mike De Lew Dan Doherty Jerry Doty Elaine Elliott David Frear Tyler Jones Suzette LaGrange Chris Lane Pat Marsh Eric Molfetta Sam Newman Greg Pancirov Spencer Pinter Brian Riffel Renae Russo Kara Walker Dean Willmore Chris Zunis
+1 702 836 3719 +1 702 836 3736 +1 702 836 3707 +1 702 836 3735 +1 702 836 3774 +1 702 836 3723 +1 702 836 3754 +1 702 836 3799 +1 702 836 3728 +1 702 836 3741 +1 702 836 3756 +1 702 836 3724 +1 702 836 3734 +1 702 836 3776 +1 702 836 3773 +1 702 836 3775 +1 702 836 3705 +1 702 836 3763 +1 702 836 3711
OFFICE Patti Dillon Andrew Kilduff Ryan Martin Tom Naseef Tom Stilley Rebecca Staniec Taber Thill
+1 702 836 3790 +1 702 836 3718 +1 702 836 3780 +1 702 836 3720 +1 702 836 3740 +1 702 836 3792 +1 702 836 3796
MEDICAL OFFICE Stacy Scheer +1 702 836 3762 RETAIL Lisa Cheplak George Connor Charles Connors Chris Connell Phillip Dunning Dan Gluhaich David Grant Scot Marker Eric Tumbleson Al Twainy
+1 702 836 3770 +1 702 836 3786 +1 702 836 3778 +1 702 836 3709 +1 702 836 3766 +1 702 836 3757 +1 702 836 3785 +1 702 836 3782 +1 702 836 3708 +1 702 836 3725
MULTI-FAMILY Garry Cuff +1 702 836 3716 Jeff Naseef +1 702 836 3731 Tom Naseef +1 702 836 3720 RECEIVERSHIP Christopher LoBello +1 702 836 3714
LAND Julie Bauman Scott Gragson Steven Haynes John Kilpatrick Pat McNaught Vince Schettler Mike Stuart Robert Torres
+1 702 836 3753 +1 702 836 3730 +1 702 836 3727 +1 702 499 8999 +1 702 836 3798 +1 702 836 3764 +1 702 836 3739 +1 702 836 3788
HOTEL/RESORT Mike Mixer +1 702 836 3777 Dharmesh Patel +1 702 836 3713 INVESTMENT SERVICES Joe Bonifatto +1 702 836 3729 Robert Henn +1 702 836 3767 Jason Lesley +1 702 836 3742 Frank Marretti +1 702 836 3758 Bridget Richards +1 702 836 3743 Grant Traub +1 702 836 3789 GAMING GROUP Josh Smith +1 702 836 3760 GOLF COURSE Keith Cubba +1 702 836 3733 VALUATION/ APPRAISAL Josh Smith +1 702 836 3760 PROPERTY MANAGEMENT Andrea Blue +1 702 836 3750 Christina Castle +1 702 836 3745 Brandy Dumas +1 702 836 3761 Jennifer Kennedy +1 702 836 3772 Gretchen Lee +1 702 836 3704 Jennifer Maximino +1 702 836 3726 Jessie Noche +1 702 836 3752 Angelina Scarcelli +1 702 836 3768 STAFF Maurica Brown Nicole Cauilan Teddie Hickey Gina Jones Sara Johansson Scott Jun Laura Medina Matt Stater Jennifer Pompi
+1 702 836 3791 +1 702 836 3706 +1 702 836 3701 +1 702 836 3783 +1 702 836 3771 +1 702 836 3721 +1 702 836 3769 +1 702 836 3781 +1 702 836 3722
April 6, 2015 Microsoft Office 2013 – Excel: Using Financial Functions & What-If Analysis Time: 9am to 10:30am
April 13, 2015 Microsoft Office 2013 – Excel: Using Pivot Tables, Pivot Charts & Advanced Charts Time: 9am to 10:30am
April 17, 2015 Marketing Green Buildings – How to Pitch & Win a Green Listing Time: 6pm to 7pm
April 22, 2015 Simple Sound Solutions Live – Celebrating Admin Professional Day
“Our only sustainable competitive advantage is our ability to learn faster than the competition.” - Craig Robbins,
Chief Knowledge Officer
Time: 10am to 11am
April 28, 2015 Avoiding Legal Pitfalls – The Broker Representation Agreement & Letters of Intent Instructor: Michael Arnette, George Schwab, Frederick Kaplan Time: 9am to 10:30am
Colliers University’s mission is to deliver next-level systems, tools, and resources that help professionals achieve expert status 25% faster than anyone else. Achieve the best possible outcome by enhancing your skills set and deepening the knowledge you offer clients. Look ahead, anticipate changes in the market landscape, create new opportunities to adapt and stay ahead of the curve.
So what are you waiting for? Sign-up today! COLLIERS UNIVERSITY
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www.colliers.com/lasvegas Colliers International Mike Mixer, Executive Managing Director 3960 Howard Hughes Parkway, Suite 150 Las Vegas, Nevada 89169 T +1 702 735 5700 | F +1 702 731 5709