LAS VEGAS
INSIDER
A COMMUNICATION FOR BROKERS, EMPLOYEES, COLLEAGUES AND FRIENDS
FEBRUARY 2020
// COVER //
Photo by NeONBRAND on Unsplash
FACEBOOK.COM/COLLIERSLV
TWITTER.COM/COLLIERS_LV
TA B L E OF C ONTENTS
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INTO THE UNKNOWN
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TOP PRODUCERS - EVEREST CLUB
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UPCOMING EVENTS
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WE BROKE GROUND NEW OFFICE UPDATED
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FEATURED LISTINGS
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IN THE NEWS
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FEATURED DEALS
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IN THE NUMBERS
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ICEBREAKER
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DIRECTORY
2 2 M I L L I O N G A L LO N S TO CONSERVE WATER, THE FOUNTAINS OF BELLAG IO ARE COMPRI SED OF 22-MI LLION GALLONS OF WATER FROM O U R OWN ON-SI TE WELL.
Photo by Antonio Janeski from Pexels
INTO THE
UNKNOWN Last December, folks in China began coming down with a brand new virus, one that apparently jumped from pangolins (look them up) to humans via bats in one of that country’s famous “wet markets”. Or it was grown in a Chinese bio-weapons facility. Or it started in their Xinjiang prison camps for the Uyghur Muslims. This new coronavirus, COVID-19, is either no worse than previous coronaviruses, SARS and MERS, or it’s much worse. It’s either no more deadly, or it’s much more deadly. It either incubates for one week or for three, and it might be transmitted via fecal matter … or it might not. In other words, COVID-19 is, for the moment, an unknown, and it is this status as an unknown that could make it a problem for the economy. Human beings do not deal well with unknowns. Most indications point to COVID-19 being no worse than other similar viruses that have spread in the past 20 years. Most healthy people that have contracted it have recovered. The likeliest outcome from COVID-19 for the U.S. economy is a dampening of activity in the middle part of 2020. It should not change our economic fundamentals, but it could impact the economy in a number of ways.
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// FEBRUARY 2020 //
Edward Pan of Colliers’ Los Angeles office have reported a serious lull in business with Chinese investors, and worry more about the ultimate impact on the U.S. economy. Just the same, Jeff Lin also
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said he expects China to bounce back as it did from the SARS epidemic in 2003. In short – it won’t be good for Hong Kong, but it also won’t spell the end for the city’s office market, and they believe there is the potential for a strong recovery in the second half of the year. The watch word here is “fear”. Fear of catching the virus that keeps people from shopping, vacationing and working could have an impact on the economy, and thus the commercial real estate market, but By John Matt Stater
whatever that impact, it will likely be temporary. Stay safe … and wash your hands!
When more people than normal are unwilling to leave their homes, the retail sector will feel the pinch. When supply lines through China are disrupted – and we should apparently begin to
IMPACT OF CORONAVIRUS ON HONG KONG PROPERTY MARKETS
feel that disruption in April – e-commerce and the country’s transportation sector should take
By Rosanna Tang
a hit. How much of a hit is unknown, but it could be enough to harm some companies that are already teetering on the brink of insolvency. It will probably not take healthy companies are turn them into bankrupt derelicts shedding executives from upper floor windows like a tree dropping leaves in a crisp autumn wind. The tourism industry could also take a hit if
IMPACT OF CORONAVIRUS ON HONG KONG PROPERTY MARKETS
people decide to skip their summer vacations. Companies that do regular business with China and East Asia will have trouble in 2020.
DOWNLOAD THE ARTICLE
The investment team of Jeff Lin, David Lin and // COLLIERS INTERNATIONAL LAS VEGAS //
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CONGRATULATIONS
Top Producers
Everest Awards | Las Vegas, Nevada
CHRIS BENTLEY
DAN DOHERTY,
JERRY DOTY
CHRIS LANE, CCIM
MIKE MIXER,
SPENCER PINTER
BRIAN RIFFEL,
MICHAEL STUART
PAUL SWEETLAND,
DEAN WILLMORE,
The Everest Club recognizes the top 10% of all Colliers professionals
#BEanIndustryLeader
BE INSPIRING
N EWEST SIOR DES IGNEE
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// FEBRUARY 2020 //
Chris Connell, Senior Vice President
#BEColliers
DID YOU KNOW?
THE COLOR OF ST. PATRICK’S DAY WAS ORIGINALLY BLUE. Wearing green has become a staple of St. Patrick’s Day, but the holiday was originally associated with the color blue. It’s thought that the shift to green happened because of Ireland’s nickname “The Emerald Isle,” the green in the Irish flag and the shamrock, or clover. Green ribbons and shamrocks were worn as early as the 17th century.
FEBRUARY 2020
UPCOMING EVENTS
Mark your
calendar
Daylight Savings
NAIOP Breakfast
Monthly Office Meeting
Move Clocks Forward
7:30am – Orleans Hotel & Casino
9:00am – Main Conference Room
March 8
March 19th
March 25th
CREW Luncheon
OFFICE PERK
CCIM Luncheon
11:30am – Lawrys
Mediterranean March
11:30am – The Orleans
March 10th
Noon – Main Conference Room
March 25th
March 20th
SIOR Luncheon
Monthly Industrial Meeting
11:30am – Maggianos
Monthly Retail Meeting
9:00am – Main Conference Room
March 11th
8:30am – Main Conference Room
March 26th
March 23rd
Hawaii Trip
Birthday Celebration
Mauna Kea Beach Resort –
Monthly Investment Meeting
2:30pm – Main Conference Room
Big Island
9:00am – Main Conference Room
March 26th
March 13-17th
March 24th
NAIOP Spotlight Awards St. Patrick’s Day
Lunch & Learn
6:00pm – Red Rock Hotel and Casino
March 17th
11:30am – Main Conference Room
March 28th
March 24th
// COLLIERS INTERNATIONAL LAS VEGAS //
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On Thursday, February 20th, LaPour and G2 Capital Partners broke ground on Narrative, the first class A office building of its kind since the recession. The Âą100,184-square-foot, four-story building will offer state of the art design and modern architecture. Completion is scheduled for Q42020.
WE BROKE
GROUND 8
// FEBRUARY 2020 //
Developers Jeff Lapour And Frank Marretti As Well As Mike Mixer, Executive Managing Director At Colliers International - Las Vegas Were Among Those In Attendance. Narrative Will Become Colliers International Las Vegas’ New Headquarters Upon Building Competition. Narrative Is Located In The Growing Southwest Part Of The Valley Near The 215 Beltway And South Durango. // COLLIERS INTERNATIONAL LAS VEGAS //
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Photo by Matthias Mullie on Unsplash
FEATURED LISTINGS Photo by Daniil Vnoutchkov on Unsplash
Matter Business Park @ Warm Springs Dan Doherty, SIOR, Paul Sweetland, SIOR, Chris Lane, CCIM, and Jerry Doty •
Condo units from ±6,000 – ±12,878 SF Available
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Rare oppourtunity to buy in the desired Southwest submarket
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Less than 1 mile from I-215 and 3 miles from I-15
±38.56 Acres on Las Vegas Boulevard Michael Stuart and Mike Mixer, SIOR •
±38.56 acres on the World-Famous Las Vegas Strip
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Zoning: MD Clark County
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Bankruptcy Auction: Bid Deadline: April 30, 2020 Auction Date: May 19, 2020
2.5 Gross Acres of Land Ray Tuntland, MBA and Mike Mixer, SIOR
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// FEBRUARY 2020 //
•
±2.5 acres in the Southwest submarket
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Land Use Overlay is Commercial Neighborhood which supports a number of potential commercial uses
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APN: 163-36-101-003
City Centre Place Downtown Las Vegas Patti Dillon, SIOR, Taber Thill, SIOR, and Megan McInerney •
Suites ranging from ±1,800 – ±13,200 SF available
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Strategically located in a premier Downtown Las Vegas location
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Innovative design and superior construction within a cutting edge “Class A” office environment
4545 Cameron Street Spencer Pinter •
±100,392 total SF on ±4.90 acres with up to ±35,644 SF available
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Dock & grade level loading
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Freeway access via Tropicana & I-15
1550 West Craig Road Stacy Shapiro, CCIM and Alexia Crowley, CCIM
FEBRUARY FEATURED LISTINGS
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±2,000 SF—±16,622 SF contiguous grey shell medical office space with private balcony
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Turn-key TI Allowances for qualified tenants on long-term leases
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Lease Rate: $1.40 - $1.65/SF NNN
// COLLIERS INTERNATIONAL LAS VEGAS //
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IN THE NEWS
“Is Industrial Development Outpacing Demand in Las Vegas”
“The Story Begins at Narrative in Southwest Las Vegas”
“NAIOP Southern Nevada announces 2020 officers and directors’’
GlobeSt.com February 6
Nevada Business Magazine February 21
Las Vegas Business Press February 17
READ MORE
READ MORE
READ MORE
2020 SALES AWARD TRIP MARCH 5–9, 2021
FAIRMONT KEA LANI IN MAUI
- DAN DOHERTY
DAN DOHERTY
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// FEBRUARY 2020 //
On Valentine’s Day, we hosted our “All You Need is Love and Pizza Party” in the Colliers Café. We had heart shaped pizzas and salads and some Valentine’s Day themed desserts. Thank you to everyone that joined us!
WE “LOVE” WORKING WITH YOU!
// COLLIERS INTERNATIONAL LAS VEGAS //
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FEATURED DEALS FEBRUARY 2020
Retail Sale
A sale to GKT 5, LLC, et al. The ±8.24 acre retail property is a Bloomin’ Brands ground lease located at 8701 West Charleston Boulevard in Las Vegas. The transaction amount was $7,800,000.00. David Grant of Colliers International represented the seller, Micah 6:8 Holding Limited Partnership.
Industrial Lease
A lease to Institute of Human Performance, Inc. The ±24,390 square foot industrial property is located in Buffalo Business Park at 7155 South Buffalo Drive, Suites 120-165 in Las Vegas. Dean Willmore, SIOR, Brian Riffel, SIOR, Mike Willmore, Alex Stanisic, Tyler Jones and Lauren Willmore of Colliers International represented the landlord, RW Buffalo, LLC.
Office and Industrial Sale
A sale to Manley Grier Investments, LLC. The ±22,007 square foot office and industrial property is located at 1100 and 1120 Grier Drive in Las Vegas. The transaction amount was $3,450,000.00. Chris Connell and Grant Traub, SIOR of Colliers International represented the buyer.
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// FEBRUARY 2020 //
Industrial Sale
A sale of Henderson Interchange Center. The ±130,842 square foot industrial property is located at 860 Wigwam Parkway in Henderson. The transaction amount was $19,000,000.00. Dan Doherty, SIOR, Chris Lane, CCIM, Paul Sweetland, SIOR and Jerry Doty of Colliers International represented the Seller, Henderson Interchange Center, LLC.
Office Lease
A lease to Goodwill. The ±17,248 square foot office property is located in Hughes Airport Center at 250 Pilot Road in Las Vegas. Taber Thill, SIOR, Patti Dillon, SIOR, Spencer Pinter and Megan McInerney of Colliers International represented the tenant.
Land Sale
A sale to Harsch Investment Properties, LLC. The ±8.97 acre land parcel is located at the northwest corner of Shatz Street and El Campo Grande Avenue (APN: 123-27-701-003) in North Las Vegas. Brian Riffel, SIOR and Tyler Jones of Colliers International represented the seller, Elkfast, LLC.
FEBRUARY FEATURED DEALS
// COLLIERS INTERNATIONAL LAS VEGAS //
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LAS VEGAS BY THE NUMBERS JANUARY 2020 RETAIL
7%
LAND
14%
JANUARY PROPERTY TYPES
11%
Broker Rankings YTD
OFFICE
INDUSTRIAL
68%
Sales vs. Lease Revenue Sales 57%
Lease 43%
85% MONTHLY BUDGET 7% YTD BUDGET 16
// FEBRUARY 2020 //
1. Dan Doherty
23. Dan Gluhaich
2. Paul Sweetland
24. Tyler Jones
3. Jerry Doty
25. Chris Bentley
4. Chris Lane
26. David Grant
5. Spencer Pinter
27. Pat Marsh
6. Taber Thill
28. Chris Clifford
7. Patti Dillon
29. Grant Traub
8. Gabe Skerlich
30. Chris Connell
9. Brian Fike
31. Stacy Shapiro
10. Eric Molfetta
32. Steve Haynes
11. Mike Stuart
33. Keith Cubba
12. Dean Willmore
34. Jeff Swinger
13. Joe Bonifatto
35. Alexia Crowley
14. Brian Riffel
36. George Connor
15. Kara Walker
37. Andrew Kilduff
16. Suzette Lagrange
38. Sam Newman
17. Mike Mixer
39. Steve Neiger
18. Al Twainy
40. Brett Rather
19. Scot Marker
41. Rebecca Staniec
20. Alex Stanisic
42. Chris Lobello
21. Jennifer Lehr
43. Amanda Irving
22. Mike Willmore
44. Patrick Baker
Photo by Paul IJsendoorn from Pexels
January 2020 Anniversaries
Happy Anniversary
Patti Dillon
2004
16 Years
Erica Aulino
2016
4 Years
Alexia Crowley
2017
3 Years
Evan Ranes
2018
2 Years
Gabe Skerlich
2018
2 Years
Jennifer Lehr
2019
1 Year
Congratulations!
1
BROKER OF THE MONTH
DAN DOHERTY
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TOTAL DEALS FOR THE MONTH OF JANUARY
TOP 10
JANUARY 2020 DAN DOHERTY PAUL SWEETLAND
EXECUTIVE VICE PRESIDENT, INDUSTRIAL DIVISION
JERRY DOTY
**Dan Is Also Broker Of The Month For All Of The Former Parrish Offices.
CHRIS LANE
LINKS FOR LIFE WILL BE MAKING A DONATION IN DAN’S NAME TO CATHERINE ARLIN’S CANCER FIGHT.
SPENCER PINTER TABER THILL PATTI DILLON GABE SKERLICH
Inspirational Quote: “If January is the month of change, February is the month of lasting change. January is for dreamers… February is for doers.”
BRIAN FIKE ERIC MOLFETTA
Marc Parent // COLLIERS INTERNATIONAL LAS VEGAS //
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Photo by erin mckenna on Unsplash
// LAS VEGAS INSIDER //
STEVEN HAYNES VICE PRESIDENT
ICE BREAKERS
TIDBITS FROM PEOPLE YOU WORK WITH Have you ever had a nickname? What is it? Sneaky and Droopy
How would your friends describe you? Loud and Happy
If you could live anywhere, where would it be? Hawaii
What is your biggest fear? Confined spaces
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// FEBRUARY 2020 //
LAND DEPARTMENT Mr. Haynes has over 20 years of experience in the commercial real estate market. Prior to joining Colliers International, he was a top producing commercial real estate Lender in Nevada and the Commercial and Builder Executive for Chicago Title. During that time he earned respect and cultivated many strong relationships within Las Vegas’ commercial real estate community. He worked with multiple national and local developers within the Las Vegas area.
// REACH OUT TO THE LAS VEGAS OFFICE //
LAS VEGAS PHONE DIRECTORY INDUSTRIAL
LAND
Dan Doherty
+1 702 836 3707
Steven Haynes
+1 702 836 3727
Jerry Doty
+1 702 836 3735
Mike Stuart
+1 702 836 3739
Tyler Jones
+1 702 836 3754
Suzette LaGrange
+1 702 836 3799
Chris Lane
+1 702 836 3728
Pat Marsh
+1 702 836 3741
Sam Newman
+1 702 836 3724
Alyssa Parks
MEDICAL OFFICE Alexia Crowley
+1 702 836 3778
Stacy Shapiro
+1 702 836 3762
VALUATION SERVICES
HOTEL/RESORT
Richard Koldewyn
+1 702 836 3738
Heidi Meidenbauer
+1 702 836 3726
+1 702 836 3755
Evan Ranes
+1 702 836 3749
Spencer Pinter
+1 702 836 3776
Brandon Roper
+1 702 836 3734
Brian Riffel
+1 702 836 3773
Angel Vidal
+1 702 836 3775
Danielle Scarano
+1 702 836 3747
Alexander Stanisic +1 702 836 3742 Paul Sweetland
+1 702 836 3750
Kara Walker
+1 702 836 3705
Dean Willmore
+1 702 836 3763
Mike Willmore
+1 702 836 3748
Lauren Willmore
+1 702 836 3730
OFFICE
Mike Mixer
+1 702 836 3777
INVESTMENT SERVICES Patrick Baker
+1 702 836 3703
Joe Bonifatto
+1 702 836 3729
Brian Fike
+1 702 836 3744
Amanda Irving
+1 702 836 3732
Eric Molfetta
+1 702 836 3756
Gabriel Skerlich Grant Traub
+1 702 836 3708 +1 702 836 3789
PROPERTY MANAGEMENT Erica Aulino
+1 702 836 3745
Valerene Corbin
+1 702 836 3761
Jennifer Kennedy
+1 702 836 3772
Breanna Lara
+1 702 836 3753
Christine Norberg
+1 702 836 3704
Angelina Scarcelli
+1 702 836 3768
GOLF COURSE
Chris Connell
+1 702 836 3709
Patti Dillon
+1 702 836 3790
Keith Cubba
+1 702 836 3733
Andrew Kilduff
+1 702 836 3718
Megan McInerney
+1 702 836 3700
Rebecca Staniec
+1 702 836 3792
MULTI-FAMILY
Taber Thill
+1 702 836 3796
Christopher Bentley
+1 702 836 3779
Shalonda Hughes
+1 702 836 3765
Jeffrey Swinger
+1 702 836 3764
STAFF Nicole Cauilan
RETAIL 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
Scot Marker
+1 702 836 3782
Steve Neiger
+1 702 836 3760
Brett Rather
+1 702 836 3794
Al Twainy
+1 702 836 3725
+1 702 836 3706
Courtney Goffstein +1 702 836 3710 Sara Johansson
+1 702 836 3771
Gina Jones
+1 702 836 3783
Brianna Maldonado
+1 702 836 3701
Caryl Lou Paayas
+1 702 836 3702
Matt Stater
+1 702 836 3781
Chris Sutton
+1 702 836 3721
RECEIVERSHIP Christopher LoBello +1 702 836 3714
// COLLIERS INTERNATIONAL LAS VEGAS //
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FEBRUARY 2020
LAS VEGAS
INSIDER
A COMMUNICATION FOR BROKERS, EMPLOYEES, COLLEAGUES AND FRIENDS
About Colliers International Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment.
Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.
