Colliers - Las Vegas Insider. February Issue. by Colliers Las Vegas

Accelerating success.

February 2015

Las Vegas Insider A communication for brokers, employees, colleagues and friends

“If you do what you always did, you will get what you always got.” – Unknown

TABLE OF CONTENTS

> INSIDE THE BOX 3 > BROKER OF THE MONTH

> FEATURED DEALS 5 > WELCOME TO COLLIERS

> NEW LISTINGS & IN THE NEWS

> KICK-OFF MEETING RECAP

> MARK YOUR CALENDAR

> UPCOMING EVENTS 8

> BROKER RANKINGS 9 > COMPANY DIRECTORY > BY THE NUMBERS

> COLLIERS UNIVERSITY

STAY CONNECTED WITH COLLIERS LAS VEGAS facebook.com/lvcolliers

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TABLE OF CONTENTS

Inside The Box BY: JOHN “MATT” STATER

INSIDE THE BOX

“Are you stuck on a roof and trying to figure out how to get down? Don’t climb down – that’s “inside the box” thinking. Try jumping off instead.”

We live in a world of “experts”. Many people opining every hour on the hour on every subject known to man, and virtually none of them know what they’re talking about. Why? Because they’re universalists. Rather than make statements about what they actually know, they make grandiose, broad statements about everything. Here’s where they run into trouble. Their reach exceeds their grasp.

“You should always think outside the box.” A universal statement. According to cheap philosophers, it applies to everyone in every situation all the time. Are you stuck on a roof and trying to figure out how to get down? Don’t climb down – that’s “inside the box” thinking. Try jumping off instead. It may get you inside the emergency room, but at least you’re “outside the box”. The statement was once meant to encourage trying new solutions to old problems, but I fear it was transformed into a mantra of pretending old limitations no longer existed.

Wisdom is the synthesis of not just all of your own years of experience, but of thousands of years of human experience, transmitted through books, stories and, yes, sometimes cute little one-liners. Wisdom means taking in the current data, checking it against previous patterns, and then making a decision on how to proceed knowing full well that your decision may be wrong, and thus demands a “plan B”. When, during the early 2000’s, it seemed impossible that Las Vegas would ever stop growing, that the national economy would ever again experience a downturn, that land really should be selling

for a bazillion dollars an acre, “outside the box” thinking was at play. The old rules, the old patterns – they no longer applied. Alas – some “inside the box” thinking would have helped quite a bit.

The universe is a very ancient construct, and it is governed by the same laws now as it was billions of years ago. Likewise, human beings. Irrational exuberance, greed and jealousy have been with us from the very beginning, and will always be with us. Every hundred years or so there’s a whole new humanity, but they’re constructed from the same old models and have to learn the same lessons their ancestors learned. The irrational exuberance of the 1920’s that resulted in people borrowing money to buy stock that would increase in value before they had to pay their loans was the same irrational exuberance in the 2000’s that resulted in people borrowing money to buy real estate that would increase in value before they had to pay their loans. (And by the way, the latest iteration is large companies borrowing money to buy back their own stock to juice its value … probably nothing to worry about there).

When it comes time to predict the future of anything, crawl inside the box and see what those who came before you scrawled on the walls. You might save yourself some trouble (and money). You might even make a fortune.

INSIDE THE BOX

FEATURED DEALS DEAN WILLMORE COMPLETES 65,550 SF INDUSTRIAL DEAL

A lease to Updike Distribution Logistics, LLC. The ±65,550 square-foot industrial property is located at 4550 Engineers Way, #107, in North Las Vegas. The transaction amount was $830,993. Dean Willmore, SIOR of Colliers International represented the tenant.

BRIDGET RICHARDS AND JASON LESLEY COMPLETE 2,610 SF OFFICE DEAL A sale to 3606 Sunset LLC. The ±2,610 square-foot office property is located at 3608 Sunset Road in Las Vegas. The transaction amount was $235,000. Bridget Richards CCIM of Colliers International represented the buyer. Jason Lesley CCIM of Colliers International represented the seller, Sunset Pecos II, LLC.

CHRIS CONNELL AND GRANT TRAUB COMPLETE 7,938 SF OFFICE DEAL A lease to Greater Las Vegas Dialysis, LLC. The ±7,938 square-foot office property is located at 2250 South Ranch Drive, Suite 115 in Las Vegas. Chris Connell and Grant Traub of Colliers International represented the landlord, Sahara Rancho Office Center, LLC. DEAN WILLMORE COMPLETES 18,000 SF INDUSTRIAL DEAL A lease to Grand Expo (USA) Inc. The ±18,000 square-foot industrial property is located at 3311 Meade Avenue, Suite D in Las Vegas. The transaction amount was $333,240. Dean Willmore, SIOR of Colliers International represented the Landlord, Jonathan Park, LLC. 5

FEATURED DEALS

SPENCER PINTER COMPLETES 31,410 SF INDUSTRIAL DEAL A lease to Standard Fiber, LLC. The ±31,410 square-foot industrial property is located at 6625 Arroyo Springs Street, Suite 100 in Las Vegas. Spencer Pinter of Colliers International represented the both the tenant and the landlord, EJM Arroyo North II Property, LLC. STACY SCHEER COMPLETES 2,635 SF MEDICAL OFFICE DEAL A lease to Roshan Raja, DO, PC. The ±2,635 square-foot medical office property is located at 2821 W. Horizon Ridge Parkway, Suite 100 in the Coronado Point Office Park in Henderson. Stacy Scheer, CCIM of Colliers International represented the landlord, DM Horizon Ridge, LLC. PHILLIP DUNNING AND MIKE MIXER COMPLETE 7,763 SF OFFICE DEAL A sale to NSHE/UNLV. The ±7,763 square-foot office property is located at 1325 East Harmon Avenue in Las Vegas. Phillip Dunning CCIM and Mike Mixer of Colliers International represented the seller, Harmon Midtown Partners, LLC. THILL, MARTIN, AND DILLON COMPLETE 2,246 SF OFFICE DEAL A lease to The Mutual Fund Store, LLC. The ±2,246 square-foot office property is located at 7201 West Lake Mead Blvd in Las Vegas. Ryan Martin SIOR CCIM, Taber Thill SIOR, and Patti Dillon of Colliers International represented the landlord, CSFB 2005-C6 City Center West. DOHERTY, BORST, LANE, AND DOTY COMPLETE 104,880 SF INDUSTRIAL DEAL A lease extension with Cole Kepro International. The ±104,880 squarefoot industrial property is located at 4170 Distribution Circle in North Las Vegas. Dan Doherty SIOR, Susan Borst CCIM, Chris Lane, and Jerry Doty of Colliers International represented the landlord, BRE/PAC Nevada. BRIAN RIFFEL AND SPENCER PINTER COMPLETE 7,390 SF INDUSTRIAL DEAL A lease to Bargain Online Shops, LLC. The ±7,390 square-foot industrial property is located at 6283 South Valley View Blvd, Suite G in Las Vegas. Brian Riffel of Colliers International represented the tenant. Spencer Pinter of Colliers International represented the landlord, Valley View IV, LLC. FEATURED DEALS

NEW LISTINGS OFFICE

GRANT TRAUB & CHRIS CONNELL 4955 Durango Drive | Las Vegas, NV • • • •

Frontage along Durango Dr. & Tropicana Ave. ±817 & ±3,045 SF Available TI Allowances Lease Rates: $1.55 - $1.75 PSF MEDICAL

STACY SCHEER 3675 Pecos McLeod | Las Vegas, NV • • •

• •

• • •

ROBERT TORRES & SCOTT GRAGSON 9180 West Post Road | Las Vegas, NV

Vacant Owner/User Office Property Ventral location within minutes of I-95 Covered and surface parking

MOLFETTA, CUFF, TOM & JEFF NASEEF N. Solstice Dr & John Deere Dr | Mesquite, NV • •

RETAIL & OFFICE FRANK MARETTI 4700 South Maryland Parkway | Las Vegas, NV

LAND

• • • •

COLLIERS IN THE NEWS CBS Las Vegas - 01/21/2015 “Colliers Vegas Releases Commercial Real Estate Report”

http://lasvegas.cbslocal.com/2015/01/21/colliers-vegas-releases-commercial-real-estate-report/

Nevada Business Magazine - 02/01/2015 “Top Brokers 2015” http://www.nevadabusiness.com/2015/02/top-brokers/

Vegas Inc. - 02/08/2015 “The List: Available Commercial Space”

http://www.vegasinc.com/business/public-record/2015/feb/08/list-available-commercial-space/

NEW LISTINGS & IN THE NEWS

LAND

Medical Office Site Utilities to the site Near 215 Frontage Walking Distance to Southern Hills Hospital

OFFICE

MARTIN, DILLON, AND THILL 250 Pilot Road | Las Vegas, NV

30.38 Acres 2 one story buildings built in 2010 238 Motor Coach pad sites Convenient access to I-15 N & I-15 S

New construction in the UNLV corridor 13,000 SF retail & 25,000 SF office for lease National tenants and generous TI allowance

• • •

Move-In Ready, Spec Suite (#260) 2,458 USF Lease rate $2.05/SF/FSG Premier location across from McCarran International Airport, near retail and restaurants

Mike’s Quote of the Month:

Be strong, but not rude. Be kind, but not weak. Be bold, but don’t bully. Be humble, but not shy. Be confident, but not arrogant.

FEBRUARY 28TH NAIOP SPOTLIGHT AWARDS

MARCH 6TH - 11TH BROKER SALES AWARD TRIP

MARCH 6TH CANDLELIGHTERS EVENING

MARCH 18TH MONTHLY RETAIL MEETING

MARCH 18TH BROKER SALES MEETING

MARCH 19TH MONTHLY INDUSTRIAL MEETING

MARCH 25TH MONTHLY OFFICE MEETING UPCOMING EVENTS

LOOK WHO MADE THE PLANE! 2015 SALES AWARD TRIP KAPALUA, MAUI - MARCH 2016 - RITZ CARLTON

YEAR-TO-DATE BROKERS WHO QUALIFY FOR THE HAWAII TRIP

DAN DOHERTY

BROKER RANKINGS - YEAR TO DATE: 2015 1. DAN DOHERTY 2. SUSAN BORST 3. DEAN WILLMORE 4. SPENCER PINTER 5. PAT MARSH 6. MIKE STUART 7. BRIDGET RICHARDS 8. JASON LESLEY 9. SCOTT MARKER 10. STACY SCHEER 11. CHRIS LANE 12. BRIAN RIFFEL 13. ERIC MOLFETTA 14. PAT MCNAUGHT 15. TOM NASEEF 16. DAN GLUHAICH 17. RYAN MARTIN 9

BROKER RANKINGS

18. TABER THILL 19. PATTI DILLON 20. MIKE DELEW 21. VINCE SCHETTLER 22. GRANT TRAUB 23. CHRIS CONNELL 24. RENAE RUSSO 25. GREG PANCIROV 26. SCOTT GRAGSON 27. FRANK MARRETTI 28. MIKE MIXER 29. DAVID GRANT 30. KEITH CUBBA 31. GARRY CUFF 32. ROBERT TORRES 33. JOE BONIFATTO 34. ANDREW KILDUFF

35. DAVE FREAR 36. ERIC TUMBLESON 37. PHILLIP DUNNING 38. TOM STILLEY 39. REBECCA STANIEC 40. SUZETTE LAGRANGE 41. AL TWAINY 42. CHRIS LOBELLO 43. JOSH SMITH 44. CHARLES CONNORS 45. SAM NEWMAN 46. GEORGE CONNOR 47. PAT MCNAUGHT 48. JULIE BAUMAN 49. STEVEN HAYNES 50. JOHN KILPATRICK

BY THE NUMBERS - JANUARY 2015 LAS VEGAS - JANUARY 2015 RESULTS PROPERTY TYPES

SALES REVENUE vs LEASE REVENUE

SALES: $382,108

LEASE: $539,129

57 DEALS IN JANUARY TOP 10 AGENTS: JANUARY 2015

ANNIVERSARIES: JANUARY 2015 1. 2. 3. 4. 5.

PATRICK MCNAUGHT 2003 PATTI DILLON 2004 KEITH CUBBA 2005 GRETCHEN LEE 2007

12 YEARS 11 YEARS 10 YEARS 8 YEARS

1. DAN DOHERTY

6. MIKE STUART

2. SUSAN BORST

7. BRIDGET RICHARDS

3. DEAN WILLMORE

8. JASON LESLEY

4. SPENCER PINTER

9. SCOTT MARKER

5. PAT MARSH

10. STACY SCHEER

BY THE NUMBERS

BROKER OF THE MONTH - JANUARY 2015 What is your favorite quote? My dad always told me “if you enjoy what you do, you will do it well.” What is the best advice someone has given you? Always try to do the next right thing. -Jim Bohan What do you enjoy doing when you’re not working? Spending time with my family and teaching CrossFit. Also traveling, fishing, visiting my daughter in San Diego. Where is your favorite place to take an out-of-town guest? Probably STK Steak House in the Cosmopolitan; it’s a good combination of a fine steak house and a night club in one.

PROFILE

DAN DOHERTY EXECUTIVE VICE PRESIDENT INDUSTRIAL DIVISION Colliers Las Vegas

Dan is an Executive Vice President in the Industrial Division of Colliers International, operating under Doherty Industrial Group and has been one of the top producers in the Las Vegas Office for the past 16 years. Dan is experienced in all phases of industrial real estate including REO dispositions, site selection, development and design, leasing and investment sales. Doherty Industrial Group (DIG) at Colliers International has a combined 40+ years of experience marketing industrial real estate properties in the Las Vegas Valley and during the past 48 months the team has brokered over 5.1M square feet of Industrial Property.

ICEBREAKER - INTERESTING TIDBITS FROM PEOPLE YOU WORK WITH What are your nicknames? Since my real name isn’t actually Jerry then I guess that is my nickname. What is the best book you’ve ever read, and why? Tuesdays with Morrie by Mitch Albom. Always reminded me of sitting with my grandpa when he would tell me about his life. What is your favorite quote? “Friendship is like peeing on yourself: everyone can see it, but only you get the warm feeling that it brings.” – Robert Bloch What’s the best advice someone has given you? When you are wrong, admit it. When you are right, be quiet. What do you enjoy doing when you’re not working? Hanging out with my wife and son or going to Crossfit to shame my uncle.

BROKER OF THE MONTH

JERRY DOTY Associate, Industrial Division

WELCOME TO COLLIERS! KARI BRADLEY | Associate Kari Bradley will be working with Vice President, Joe Bonifatto, as Associate in the retail division. In her role, she works directly with clients to conduct property tours, coordinate closings, and provide a detailed project analysis. In addition, she coordinates the preparation of all marketing and presentation materials and ensures effective communication and excellent service to their clients. Kari has lived in Las Vegas for almost 17 years, and she holds a Bachelor of Arts degree in Psychology from the University of Nevada, Las Vegas. During her time at UNLV, she was a member of Phi Theta Kappa Honor Society and Golden Key International Honour Society.

KARA WALKER | Senior Associate As Senior Associate, Kara Walker has partnered with Senior Vice President, Suzette LaGrange. She brings more than twelve years of commercial real estate experience, specializing in office and industrial properties. Kara’s extensive brokerage and marketing background includes acquisition and disposition, tenant and landlord representation, investment and land sales, development as well as providing professional marketing, research, and property analysis to successfully promote the team and their client’s properties in today’s competitive environment.

ELAINE ELLIOTT | Senior Associate As Senior Associate, Elaine Elliott will be working with Senior Vice President, Dean Willmore SIOR in the Industrial Division. In her role, Elliott will be managing the day-today operations for their team, and will work directly with clients to conduct property tours, oversee their marketing efforts, and ensure that clients receive immediate assistance and exceptional service. Elaine brings more than fourteen years of commercial real estate experience to the team. Prior to joining Colliers, she worked at Insight Holdings specializing in the acquisition of commercial real estate, as well as specialized in the lending, underwriting, and servicing of commercial loans.

NICOLE CAUILAN | Graphic Design Intern Nicole Cauilan joins the Marketing team as Graphic Design Intern. In her role, she will be assisting the department with graphic design requests including brochures, flyers, and email campaigns. Nicole was born and raised in Las Vegas, and is a recent graduate of The Art Institute of Las Vegas with a Bachelor of Science degree in Graphic Design. She was the 2014 Vice President of the AIGA Student Chapter, and was the Student Body Historian during her senior year of High School. Her skills include design layout, typography, illustration, plus she enjoys photography as a hobby.

WELCOME TO COLLIERS

2015 KICK-OFF MEETING At Colliers, we know how to work hard and play hard! Thank you to everyone who joined us at the 2015 Kick-Off Meeting at Levi Stadium in California last month. Here are a few photos to recap the wonderful event.

KICK-OFF MEETING PHOTOS

MARK YOUR CALENDAR...

MONDAY, MARCH 2ND 9AM IN THE COLLIERS CAFE E AT . M I N G L E . E N J O Y.

SPECIAL THANKS TO

GRANT TRAUB MARK YOUR CALENDAR

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

+1 702 836 3719 +1 702 836 3736 +1 702 836 3707 +1 702 836 3754 +1 702 836 3774 +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 3705 +1 702 836 3763

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

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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 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 Nicole Cauilan 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 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

February 24, 2015 Practice Group Insights - Transit-Oriented Development Time: 9am to 10:00am February 26, 2015 Beyond & Behind the Boilerplate (intended for professionals who deal with contracts) Time: 9am to 10:00am March 3, 2015 Market Force – Introduction to the Principles, Phase 1 ($375) Time: 9am to 10:15am March 10, 2015 Market Force – Introduction to the Principles, Phase 1 ($375) Time: 9am to 10:15am March 12, 2015 Simple Energy Audits for Property Managers – Immediate Energy Savings for your Property Time: 6pm to 7pm

“Our only sustainable competitive advantage is our ability to learn faster than the competition.” - Craig Robbins,

Chief Knowledge Officer

March 17, 2015 Market Force – Introduction to the Principles, Phase 1 ($375) Time: 9am to 10:15am March 24, 2015 Simple Sound Solutions Live – Listen Up ~ if you can Time: 8am to 9am

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

www.colliers.com/lasvegas

For comments, suggestions, and contributions please contact Chelsy Cardin, Marketing Manager chelsy.cardin@colliers.com | 702 836 3710

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