Accelerating success.
December 2014
Las Vegas Insider A communication for brokers, employees, colleagues and friends
“Live as if you were to die tomorrow. Learn as if you were to live forever.” – Mahatma Gandhi
TABLE OF CONTENTS
> MOVING TARGETS 3 > BROKER OF THE MONTH
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> FEATURED DEALS 5 > WELCOME TO COLLIERS
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> NEW LISTINGS & IN THE NEWS
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> 7 NFL POOL & HOLIDAY RECAP
> UPCOMING EVENTS 8
> MARK YOUR CALENDAR
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> BROKER RANKINGS 9 > COMPANY DIRECTORY > BY THE NUMBERS
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> COLLIERS UNIVERSITY
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TABLE OF CONTENTS
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Moving Targets BY: JOHN “MATT” STATER
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MOVING TARGETS
Think of the economy – any economy – as a river. A river is just water that is moving from a higher elevation to a lower elevation. If anything gets in its way, the water moves around it or, eventually, through it. There’s no thought process involved, or the act of a higher power. Water is driven by gravity to be as low as it can be.
Economies are likewise driven to be efficient. Producing the most possible at the lowest price. Why? Because human beings demand it. There is almost no end to what human beings want, and therefore producers want to produce as much of something as they can, and consumers, who have so many desires, want to pay as little as possible. Ultimately, the marketplace is where consumers and producers meet in the middle.
Human beings can erect dams to manipulate the flow of water. Note that I said manipulate, not stop. The water cannot be stopped. Hoover Dam forces water through channels to spin dynamos, but it doesn’t stop the water from flowing. Other dams force the water into fields to irrigate crops, but they do not stop the water.
Likewise, human governments can erect regulations, taxes and other such things to manipulate the flow of an economy. They can make something artificially cheap or expensive, but eventually the market will, by hook or by crook, work around those artifices to put the product at the market price.
I’ve recently read an article about innovations in healthcare. The supply of healthcare is, like a river, finding a way around artificial impediments. Because the old way of delivering healthcare, via individual doctors and surgeons, has been made artificially expensive with cost-sharing “health insurance” and government mandates, producers and consumers are finding a way to “meet in the middle” with medical groups, do-ityourself treatment aided by handheld computers (let’s stop calling them cell phones – they’re really so much more), health clinics, etc. At the moment, the victim of this market-driven innovation is medical office space. Medical office space was designed to serve the old market of doctors and patients. At the moment, it is being negatively impacted by the change in healthcare delivery – a change initiated not by the free market, but by large public and private institutions.
Will we, at some point, return to a more traditional model? Perhaps. As healthcare delivery moves away from the very institutions that sought to dominate it, they will have to adapt or die. In the meantime, medical office will have to adapt to the new way of doing things. It may do this by clever redesigns to serve medical groups and health clinics, or by repurposing itself to other uses. Thus the ebb and flow of commerce continues. Keep this in mind when dealing with developers and building owners. The consumer (in this case potential tenant or buyer) is always a moving target, and forces much larger than they are driving that movement. Spend some time understanding the macro-economy to better understand the micro-economies you deal with when you represent a landlord or tenant.
“At the moment, the victim of this market-driven innovation is medical office space. Medical office space was designed to serve the old market of doctors and patients.”
MOVING TARGETS
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FEATURED DEALS FRANK MARRETTI COMPLETES $26,320,080 PARKING STRUCTURE LEASE
A lease to The Board of Regents of the Nevada System of Higher Education. The parking structure and UNLV police will be located at 4700 South Maryland Parkway in Las Vegas. The transaction amount was $26,320,080. Frank Marretti of Colliers International represented the landlord, New Town MD, LLC. DAN DOHERTY, JASON LESLEY, AND BRIDGET RICHARDS COMPLETE 46,020 SF INDUSTRIAL DEAL A sale to KTR Capital Partners. The ±46,020 square-foot flex industrial property is located at 6365 Montessouri Street in Las Vegas. The transaction amount was $3,800,000. Dan Doherty SIOR and Jason Lesley CCIM of Colliers International represented the buyer. Bridget Richards CCIM of Colliers International represented the seller, Rialto Capital.
TRAUB, CONNELL, DOHERTY, BORST, LANE, AND DOTY COMPLETE 12.84 ACRE LAND DEAL A sale to West Flamingo Road, LLC. The ±12.84 acre vacant land property is located on Executive Airport Drive in Henderson. The transaction amount was $2,349,103. Grant Traub and Chris Connell of Colliers International represented the buyer. Dan Doherty SIOR, Susan Borst CCIM, Chris Lane, and Jerry Doty of Colliers International represented the seller, South 15 Partners, LLC.
GREG PANCIROV AND MIKE DE LEW COMPLETE 12,000 SF INDUSTRIAL DEAL A lease to 2020 Exhibits, Inc. The ±12,000 square-foot industrial property is located at 1051 Mary Crest Drive, Suite H in Henderson. Greg Pancirov, SIOR and Mike De Lew, SIOR of Colliers International represented the landlord, DCT Commercial Properties, LLC. 5
FEATURED DEALS
THILL, MARTIN, AND DILLION COMPLETE 9,467 SF OFFICE DEAL A lease to Driggs Title Agency, Inc. The ±9,467 square-foot office property is located at 7900 West Sahara, Suite 100 in Las Vegas. Taber Thill SIOR, Ryan Martin SIOR CCIM, and Patti Dillon of Colliers International represented the tenant. STACY SCHEER COMPLETES 3,490 SF MEDICAL OFFICE DEAL A lease to American Academy of Urology. The ±3,490 square-foot medical office property is located at 9053 South Pecos Road, Suite 2900 in Henderson. The transaction amount was $163,332. Stacy Scheer, CCIM of Colliers International represented the tenant. PINTER, DOHERTY, BORST, LANE, AND DOTY COMPLETE 16,362 SF INDUSTRIAL DEAL A lease to CEVA Freight, LLC. The ±16,362 square-foot industrial property is located at 6275 South Pearl Street, Suite 1200-1400 in Las Vegas. Spencer Pinter, Dan Doherty SIOR, Susan Borst CCIM, Chris Lane, and Jerry Doty of Colliers International represented the landlord, KTR LV IV, LLC. VINCE SCHETTLER COMPLETES 5.0 ACRE LAND DEAL A sale to Commercial Investment Advisors Co. The ±5.0 acre vacant land property is located at 8220 West Wigwam in Las Vegas. The transaction amount was $700,000. Vince Schettler of Colliers International represented the seller, Investor Equity Homes, LLC. PAT MARSH AND SAM NEWMAN COMPLETE 29.94 ACRE LAND DEAL A sale to Panattoni Development Company. The ±29.94 acre vacant land property is located on the corner of Lake Mead Drive and I-95 in Henderson. The transaction amount was $6,200,000. Pat Marsh and Sam Newman of Colliers International represented the buyer. SUZETTE LAGRANGE COMPLETES 8,200 SF OFFICE DEAL A sale to JER2911 Partners, LLC. The ±8,200 square-foot office property is located at 101 East Warm Springs Road in Las Vegas. The transaction amount was $1,150,000. Suzette LaGrange of Colliers International represented the buyer. FEATURED DEALS
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NEW LISTINGS MULTI-FAMILY GARRY CUFF & TOM NASEEF 2125 North Las Vegas Blvd.| North Las Vegas, NV
• • • •
252 Units Fully affordable property with new tax credits possible Value-add proposition Offered at $10,500,000
CHRIS CONNELL & GRANT TRAUB 1050 East Flamingo Road | Las Vegas, NV • • • •
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OFFICE
• • •
RETAIL
• • •
167,280 SF divisible to 37,060 SF Potential yard and trailer parking available Building to be completed Q3 2015
For Sale: $950,000 2,680 SF Former fast food restaurant with drive thru Zoning: General Commercial
• • • •
http://www.nevadabusiness.com/2014/12/industry-focus-commercial-real-estate-5/
http://www.vegasinc.com/business/real-estate/2014/dec/11/las-vegas-renters-pricey-resort--options-increasin/
Las Vegas Review Journal - 11/10/2014 “With building uptick, county again outsources permitting” http://www.reviewjournal.com/business/business-press/building-uptick-county-again-outsources-permitting
NEW LISTINGS & IN THE NEWS
INDUSTRIAL
For Lease from 3,875 SF - 7,535 SF Henderson location with Sunset Road exposure Oversize 14’x14’ Grade Level Loading Doors Lease Rates at $0.54/sf NNN
Nevada Business - 12/01/2014 “Industry Focus: Commercial Real Estate”
Vegas Inc. - 12/11/2014 “For Las Vegas Renters - Pricey Resort-Like Options Increasing”
LAND
Near Henderson Executive Airport Fronts a future major section line road Can be used for commercial and high density Multi-Family
GREG PANCIROV & MIKE DE LEW 505-585 West Sunset Road | Henderson, NV
COLLIERS IN THE NEWS
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INDUSTRIAL
VINCE SCHETTLER Larson Lane and Radcliff Street | Henderson, NV
Lease Rates starting at $1.20 PSF FSG Full 5% Commission on FSG Turn-key Suites From ±436 to ±12,155 RSF
SCOT MARKER & LISA CHEPLAK 1540 East Highway 372 | Pahrump, NV • • •
DOHERTY, BORST, LANE, DOTY 4220 West Windmill Lane | Las Vegas, NV
Mike’s Quote of the Month:
“Motivation will almost always beat mere talent.” – Norman Ralph Augustine
UPCOMING DECEMBER & JANUARY EVENTS DECEMBER 24 | OFFICE CLOSED FOR CHRISTMAS DECEMBER 25 | OFFICE CLOSED FOR CHRISTMAS DECEMBER 26 | OFFICE CLOSED FOR CHRISTMAS JANUARY 1 | OFFICE CLOSED FOR NEW YEARS JANUARY 2 | OFFICE CLOSED FOR NEW YEARS JANUARY 13 | MONTHLY RETAIL DIVISION MEETING Main Conference Room | 9:00 am
DECEMBER 24TH TO 26TH CHRISTMAS - OFFICE CLOSED
JANUARY 1ST & 2ND NEW YEARS - OFFICE CLOSED
JANUARY 13TH MONTHLY RETAIL MEETING
JANUARY 14 | MONTHLY INDUSTRIAL DIVISION MEETING Main Conference Room | 9:00 am
JANUARY 14TH
JANUARY 14 | SIOR LUNCHEON Maggiano’s | 11:30 am
MONTHLY INDUSTRIAL MEETING
JANUARY 15 | NAIOP: FORECAST 2015 SOUTHERN NEVADA’S COMMERCIAL MARKET RECOVERY The Orleans | 7:30 am JANUARY 19 | OFFICE CLOSED FOR MARTIN LUTHER KING DAY JANUARY 21 | MONTHLY OFFICE DIVISION MEETING Main Conference Room | 9:30 am
JANUARY 21ST MONTHLY OFFICE MEETING
JANUARY 22ND COMPANY KICKOFF MEETING
JANUARY 28 | CCIM LUNCHEON Palms Hotel | 11:30 am
UPCOMING EVENTS
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LOOK WHO MADE THE PLANE! 2014 SALES AWARD TRIP KAPALUA, MAUI - MARCH 6-10, 2015 - RITZ CARLTON
YEAR-TO-DATE BROKERS WHO QUALIFY FOR THE HAWAII TRIP SCOTT GRAGSON DAN GLUHAICH MIKE STUART MIKE DELEW
PAT MARSH KEITH CUBBA GARRY CUFF BRIAN RIFFEL
DEAN WILLMORE SPENCER PINTER DAN DOHERTY CHRIS CONNELL
RYAN MARTIN DAVID GRANT BRIDGET RICHARDS JASON LESLEY
TABER THILL PATTI DILLON GRANT TRAUB
BROKER RANKINGS - YEAR TO DATE: 2014 1. MIKE STUART 2. SCOTT GRAGSON 3. DAN DOHERTY 4. PAT MARSH 5. MIKE DELEW 6. SPENCER PINTER 7. DEAN WILLMORE 8. DAN GLUHAICH 9. BRIAN RIFFEL 10. RYAN MARTIN 11. CHRIS CONNELL 12. DAVID GRANT 13. TABER THILL 14. KEITH CUBBA 15. BRIDGET RICHARDS 16. JASON LESLEY 17. PATTI DILLON 9
BROKER RANKINGS
18. GARRY CUFF 19. GRANT TRAUB 20. MIKE MIXER 21. SUSAN BORST 22. ERIC MOLFETTA 23. ANDREW KILDUFF 24. ROBERT TORRES 25. STACY SCHEER 26. ERIC TUMBLESON 27. DAVE FREAR 28. GREG PANCIROV 29. PHILLIP DUNNING 30. TOM STILLEY 31. LIZZ STILLEY 32. SCOT MARKER 33. CHRIS LANE 34. JOSEPH BONIFATTO
35. REBECCA STANIEC 36. VINCE SCHETTLER 37. TOM NASEEF 38. AL TWAINY 39. SUZETTE LAGRANGE 40. RENAE RUSSO 41. FRANK MARRETTI 42. CHRIS LOBELLO 43. JOSH SMITH 44. CHARLES CONNORS 45. SAM NEWMAN 46. ANGELA BATES 47. GEORGE CONNOR 48. PAT MCNAUGHT 49. JULIE BAUMAN 50. JOHN KILPATRICK
BY THE NUMBERS - NOVEMBER 2014 LAS VEGAS - NOVEMBER 2014 RESULTS PROPERTY TYPES
NOVEMBER SALES REVENUE vs LEASE REVENUE
SALES: $841,325
LEASE: $174,035
50 DEALS IN NOVEMBER TOP 10 AGENTS: NOVEMBER 2014
ANNIVERSARIES: NOVEMBER 2014 1. 2. 3. 4. 5.
MIKE MIXER RYAN MARTIN JEFF NASEEF TOM NASEEF
1993 2006 2011 2011
21 YEARS 8 YEARS 3 YEARS 3 YEARS
1. PAT MARSH
6. JASON LESLEY
2. DAN DOHERTY
7. DAN GLUHAICH
3. KEITH CUBBA
8. GRANT TRAUB
4. DAVE FREAR
9. CHRIS CONNELL
5. BRIDGET RICHARDS 10. SUSAN BORST
BY THE NUMBERS
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BROKER OF THE MONTH - NOVEMBER 2014 On a typical weekend night, where might we find you? At home making dinner with my family. There might be a football game on in the background if the Ducks are playing. What’s the best thing you have ever eaten & where? Every meal my wife has ever cooked is the best meal I have ever had. How do you unplug after a busy day? I go home with my family. There’s no way I can focus on work with three kids’ busy schedules. Tell us something people don’t know about you? I go caroling door to door in the evenings for the two weeks before every Christmas.
PROFILE
PAT MARSH SENIOR VICE PRESIDENT INDUSTRIAL DIVISION Colliers Las Vegas
Pat joined Colliers International in 1998 when Colliers International. He is experienced in all phases of industrial real estate including land sales, site selection, design, leasing, owner/user and investment sales. Besides land sales and buyer representation, Pat currently lists over 2 million square feet of industrial property in the Las Vegas Valley. He is a graduate of the University of Oregon with a degree in psychology and holds a Master’s degree in clinical psychology from JFK University in Orinda, California.
CONGRATULATIONS PAT!
ICEBREAKER - INTERESTING TIDBITS FROM PEOPLE YOU WORK WITH What is the best book you’ve ever read, and why? James Patterson’s Maximum Ride series. My nephew and I read them together – great bonding moments. What is your favorite quote? Don’t say that on a first date. What’s the best advice someone has given you? You can only help those who choose to help themselves. Where is your favorite local place to take an out-of-town guest? Bellagio Conservatory and Botanical Gardens What do you enjoy doing when you’re not working? Sleeping, online shopping, and visiting with friends and family
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BROKER OF THE MONTH
VICKI LONGDEN Executive Administrative Assistant
2014 AWARD WINNERS
Broker of the Year MICHAEL STUART
Rookie of the Year CHRIS LANE
Employee of the Year TEDDIE HICKEY
Biggest Deal MICHAEL STUART
Smallest Deal CHRIS CONNELL
Commitment to Excellence
Philanthropy VICKI LONGDEN
Most Welcoming Office
High Fashion ANDREW KILDUFF
Not so “On-Time” DAN DOHERTY
LAURA MEDINA
BRIDGET RICHARDS
PHOTOGRAPHY TIP OF THE MONTH LIGHTING CAN MAKE OR BREAK YOUR PHOTO. Remember that the time of day will affect the direction that the sun, and shadows, are facing. As a general rule of thumb, it is best to photograph outdoors during the “golden hour” which is within one hour after sunrise, and up to one hour before sunset. Clouds act as a natural diffuser, giving you little or no shadows. On cloudy days, you can photograph outside anytime!
CONGRATULATIONS & PHOTOGRAPHY TIP
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NFL FOOTBALL POOL: TO BENEFIT LINKS FOR LIFE CONGRATULATIONS TO THE WINNERS OF THE LINKS FOR LIFE SUDDEN DEATH FOOTBALL POOL! 1st Place: Scott Gragson won $382.50 2nd Place: Jeff Naseef won $229.50 3rd Place (tie): Becky Staniec won $76.50 3rd Place (tie): Brad Emery won $76.50 A BIG THANK YOU to Vicki Longden and Matt Stater for organizing this fun event! $795 WAS RAISED FOR THE LINKS FOR LIFE FOUNDATION
2014 HOLIDAY PARTY RECAP Thank you to everyone who joined us on December 12th at The Sayers Club for our annual Holiday Party! It was a great event and a nice way to end a successful year. A special thank you to Tyler Jones, and his band American Cream for keeping us entertained all evening. The band was fantastic!
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NFL POOL & HOLIDAY RECAP
COMPANY-WIDE KICK OFF MEETING
THE COLLIERS COMPANYWIDE KICK-OFF IS ON THURSDAY, JANUARY 22 AT LEVI STADIUM IN SAN JOSE, CA! EVERYONE IS INVITED. QUESTIONS? SEE GINA.
2015 AMERICAS CONFERENCE
HAVE YOU REGISTERED FOR THE 2015 COLLIERS AMERICAS CONFERENCE? ONLINE REGISTRATION ENDS ON JANUARY 16. Visit www.ColliersAmCon.com for conference details and to register today MARK YOUR CALENDAR
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LAS VEGAS PHONE DIRECTORY INDUSTRIAL Susan Borst Mike De Lew Dan Doherty Jerry Doty David Frear Tyler Jones Suzette LaGrange Chris Lane Pat Marsh Eric Molfetta Sam Newman Greg Pancirov Spencer Pinter Brian Riffel Renae Russo Dean Willmore
+1 702 836 3719 +1 702 836 3736 +1 702 836 3707 +1 702 836 3754 +1 702 836 3735 +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 3763
OFFICE Patti Dillon Andrew Kilduff Ryan Martin Tom Naseef Lizz Stilley 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 3700 +1 702 836 3740 +1 702 836 3792 +1 702 836 3796
MEDICAL OFFICE Stacy Scheer +1 702 836 3762 RETAIL Angela Bates Lisa Cheplak George Connor Charles Connors Chris Connell Phillip Dunning Dan Gluhaich David Grant Scot Marker Eric Tumbleson Al Twainy
+1 702 836 3779 +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 John Kilpatrick Pat McNaught Vince Schettler Mike Stuart Robert Torres
+1 702 836 3753 +1 702 836 3730 +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 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 Chelsy Cardin Teddie Hickey Gina Jones Sara Johansson Scott Jun Laura Medina Matt Stater Jennifer Pompi
+1 702 836 3791 +1 702 836 3710 +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
January 13, 2015 Colliers Clients on Diversity – What Matters to Them & Why Start Time: 10:00am January 14, 2015 Practice Group Insights – Law Firm Services Start Time: 10:00am January 15, 2015 LEED v4 ID+C – A Case Study Outlining Key Differences & Similarities to LEED v2009 Start Time: 5:00pm January 21, 2015 Simple Sound Solutions Live Start Time: 7:00am January 21, 2015 Colliers 360 Platform Certification Kick-Off Start Time: 10:00am January 22, 2015 REMS Retail Center Marketing Start Time: 9:00am
“Our only sustainable competitive advantage is our ability to learn faster than the competition.” - Craig Robbins,
Chief Knowledge Officer
January 28, 2015 Group Insights – Logistics & Transportation Solutions Start Time: 10:00am January 29, 2015 Viewing & Sharing Your Data with Google Earth & Maps Start Time: 10:00am
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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