Accelerating success.
July 2014
Las Vegas Insider A communication for brokers, employees, colleagues and friends
“People will forget what you said, people will forget what you did, but people will never forget how you made them feel.” –Maya Angelou
TABLE OF CONTENTS
> INTO THE WEEDS WITH EMPLOYMENT
> 3 BROKER RANKINGS
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> FEATURED DEALS 5 > BY THE NUMBERS
10
> NEW LISTINGS 7 > BROKER OF THE MONTH
11
> COLLIERS IN THE NEWS
15
> 7 COMPANY DIRECTORY
> UPCOMING EVENTS 8
> COLLIERS UNIVERSITY
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TABLE OF CONTENTS
2
INTO THE WEEDS WITH EMPLOYMENT BY: JOHN “MATT” STATER
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ART VS SCIENCE
For several centuries now (or maybe it just feels like centuries), I have tracked Southern Nevada employment and used it as an aid in determining future performance of the industrial, office and retail markets. The concept was simple. Tie the different sectors of employment to the product types, look at the employment trend, and extrapolate commercial real estate performance. More jobs usually means more occupied square feet. This was fine as a thumbnail sketch, but there were weaknesses in this concept. The employment sectors used by the State of Nevada for a given business do not always relate to what that business is using its occupied space for. A manufacturing company, for example, might take industrial space in which to actually manufacture things, but it might also take office space for its executives and accountants and such. Whether the company is in industrial or office space, it is still a manufacturing company, and its employees might – might! – be included in the manufacturing category, whether they are in industrial or office space.
“The concept was simple. Tie the different sectors of employment to the product types, look at the employment trend, and extrapolate commercial real estate performance. More jobs usually means more occupied square feet.”
I decided a few months ago to try to figure out, as nearly as possible, what percentage of jobs in these different employment sectors were tied to the different types (and subtypes) of commercial real estate. To do this, I downloaded random groups of companies from Sales Genie. This data included the SIC code for the company in question, its address and the number of employees at that location. I then cross-referenced the addresses to the properties in our own database, and thus determined the product subtype occupied by each business. It was then easy to discover how many employees from each SIC code were stationed in each subtype (and class, in the case of office properties). Granted, time restraints forced me to rely on random samplings of businesses, but I plan to revisit this process each year to further refine my data. For an example, let’s look at industrial space. In the past, “industrial employment” was a sum of the following employment sectors: Construction, Manufacturing, Transportation & Warehousing and Wholesale. Now, I know that industrial properties take in a share of virtually all sectors of employment. Because of this, I know that industrial employment is actually larger than previously thought, and the drop in employment between 2010 and 2011 less severe. As a result, I think I have a much better idea now of how changes of employment impact the different property types, and therefore have an improved aid in predicting future demand.
Period
Total Employment (Old Method)
Total Employment (New Method)
2014
116,700
136,819
2013
115,800
134,273
2012
111,200
128,534
2011
109,800
125,638
2010
116,200
129,585
The above table shows the change in estimated industrial employment using the old method of calculation versus the new method of calculation, as described above; note the total estimate increased for each year, and the drop in employment between 2010 and 2011 was less severe.
INTO THE WEEDS WITH EMPLOYMENT
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FEATURED DEALS ROBERT TORRES AND SCOTT GRAGSON COMPLETE $7,850,000 SALE
A sale to KB Home LV Laurel Hills, LLC. The ±20.09 acres of vacant land is located on the south east corner of Grand Canyon Drive and Wigwam Avenue in Las Vegas. The transaction amount was $7,850,000.00. Robert Torres and Scott Gragson of Colliers International represented the buyer. DAN GLUHAICH COMPLETES 17,484 SF RETAIL DEAL A sale to Bourassa Family Revocable Trust, 5-9-89. The ±2,010-squarefoot retail building, on a ±17,424-square-foot lot is located at 3776 N. Hwy. 395 in Carson City. The transaction amount was $1,285,250.00. John Weatherby of Cornish & Carey Commercial represented the buyer. Dan Gluhaich of Colliers International represented the seller. RYAN MARTIN AND PATTI DILLON COMPLETE 2,885 SF OFFICE DEAL A lease to Apex Systems, Inc. The ±2,885-square-foot office property is located at 3753 Howard Hughes Parkway in Las Vegas. Dean Kaufman of Jones Lang LaSalle represented the tenant. Ryan Martin, SIOR CCIM and Patti Dillon of Colliers International represented the landlord, BRE/ HC Las Vegas Property Holdings, LLC. SPENCER PINTER COMPLETES 18,846 SF INDUSTRIAL DEAL A lease to DirecTV, LLC. The ±18,846-square-foot industrial property is located at 6165 S. Valley View Blvd, Suite C in Las Vegas. Xavier Wasiak of Jones Lang LaSalle represented the tenant. Spencer Pinter of Colliers International represented the landlord. 5
FEATURED DEALS
DAVID GRANT COMPLETES 2.37 ACRE LAND DEAL A sale to Haley Harrison Hospitality, LLC. The ±2.37 acre commercial land zoned CC is located south of the south west corner of Warm Springs and Julia in Henderson. The transaction amount was $510,000.00. David A. Grant of Colliers International represented the seller. CHRIS CONNELL COMPLETES 1,600 SF RETAIL DEAL A lease to PGF LLC, DBA Handel’s Home Ice Cream and Yogurt. The ±1,600-square-foot retail property is located at 10170 W. Tropicana Avenue, Suite 150/151 in Las Vegas. The transaction amount was $177,600.00. Chris Connell of Colliers International represented the landlord. REBECCA STANIEC COMPLETES 1,997 SF OFFICE DEAL A lease to Bell Design, LLC. The ±1,997-square-foot office property is located at 241 W. Charleston, Suite 190 in Las Vegas. The transaction amount was $54,609.95. Dean Kaufman of Jones Lang LaSalle Brokerage, Inc. represented the tenant. Rebecca Staniec of Colliers International represented the landlord, LGC 213, LLC. PINTER, DOHERTY, BORST, LANE & DOTY COMPLETE 8,628 SF INDUSTRIAL DEAL A lease to Prestige Railing and Stairs, Ltd. The ±8,628-square-foot industrial property is located at 6155 S. Sandhill Road, Suite 800 in Las Vegas. Greg Pancirov and Mike Delew of Colliers International represented the tenant. Spencer Pinter, Dan Doherty, SIOR, Susan Borst, CCIM, Chris Lane, and Jerry Doty of Colliers International represented the landlord. SCOT MARKER COMPLETES 2,800 SF RETAIL DEAL A lease to Central Telephone Company. The ±2,800-square-foot retail property is located at 2668 N. Las Vegas Blvd. in North Las Vegas. The transaction amount was $161,280.00. Elmore Bacon of Cornerstone Companies represented the landlord, Marbonita, LLC. Scot Marker of Colliers International represented the tenant. RENAE RUSSO COMPLETES 3,210 SF OFFICE DEAL A lease to Global Cultural Connections. The ±3,210-square-foot office property is located at 2790 West Horizon Ridge, Suite 110 in Henderson. Wes Brown, CCIM of REMAX represented the landlord, Horizon Coronado, LLC. Renae E. Russo of Colliers International represented the tenant. FEATURED DEALS
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NEW LISTINGS MIXED-USE
MIKE MIXER 6th/Carson/7th/Bridger | Las Vegas, NV • • • •
2.33 acres Zoned C-2,R-4 with mixed use and height potential Across from Container Park Redevelopment Opportunity GAMING
• •
• • •
• • •
OFFICE
• • •
Second story for lease, 8,000 SF Lease rates at $1.75 PSF FSG Excellent frontage on N. Rainbow Blvd. Easy access from 95 North & Rancho
http://www.reviewjournal.com/business/business-press/philanthropy-news-june-16
Nevada Business Magazine - 6/19/2014 “Colliers International finalizes sale in Henderson (Jason Lesley and Bridget Richards)” http://www.nevadabusiness.com/2014/06/colliers-international-finalizes-sale-henderson/
Nevada Business Magazine - 7/7/2014 “KBhome LV Laurelhills, LLC Sells for $7.85 Million (Robert Torres and Scott Gragson)” http://www.nevadabusiness.com/2014/07/kb-home-lv-laurel-hills-llc-sells-7-85-million/
http://lasvegas.cbslocal.com/2014/07/11/downtown-city-block-up-for-sale/ NEW LISTINGS & IN THE NEWS
2,548 SF Office/ Warehouse Flat Rate Lease $3,000/Mo Includes CAMS I-215 & Gibson Zoning IG
TOM & JEFF NASEEF AND GARRY CUFF 275 West Atlantic | Henderson, NV
Las Vegas Business Press - 6/16/2014 “Philanthropy News: Links for Life”
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INDUSTRIAL
•
COLLIERS IN THE NEWS
KNXT/CBS Radio - 7/11/2014 “Downtown City Block Up For Sale”
Office spaces from +/- 2,216 RSF – 4,892 RSF Lease rate $1.95/SF, full service gross Premier location
RENAE RUSSO 1170 Center Point | Henderson, NV
221 rooms available ±380 feet of frontage on Desert Inn Road Close to Las Vegas Blvd. Zoning allows for a variety of uses
CHRIS CONNELL 5041 North Rainbow Blvd | Las Vegas, NV •
OFFICE
250 Pilot Road (Hughes Airport Center) | Las Vegas, NV
JOSH SMITH 344 East Desert Inn | Las Vegas, NV • •
RYAN MARTIN, TABER THILL, & PATTI DILLON
• • • •
MULTI-FAMILY
82 total units 1, 2 & 3 Bedrooms With a little TLC buyer can increase Revenue & Value $3,950,000 ($48,000 per unit) Submit All Offers
UPCOMING EDITORIAL FEATURES If you would like to offer comment or story ideas for the following media opportunities, please contact Chelsy Cardin before the corresponding deadlines:
PUBLICATION: Nevada Business Magazine
CHELSY CARDIN
Building Nevada: Land focus, Materials due 7/25
Marketing Project Manager chelsy.cardin@colliers.com
PUBLICATION: VEGAS INC.
List: Commercial Property Owners, Materials due 8/4
+1-702-836-3710
UPCOMING JULY & AUGUST EVENTS JULY 29 | MONTHLY OFFICE DIVISION MEETING Main Conference Room | 9:30 am JULY 30 | NAIOP ANNUAL BOWLING TOURNAMENT Gold Coast | 5:30 pm
JULY 29TH MONTHLY OFFICE MEETING
AUGUST 1 | THE HC | FITNESS CENTER OPENS Wells Fargo Tower | 24/7 AUGUST 7 | LAS VEGAS CHAMBER OF COMMERCE BUSINESS AFTERHOURS Clubhouse News Network | 5:30 pm AUGUST 7 | HENDERSON CHAMBER OF COMMERCE FOUNDATIONS FOR SUCCESS Henderson Business Resource Center | 9:00 am AUGUST 12 | HENDERSON CHAMBER OF COMMERCE NETWORKING BREAKFAST Sunset Station | 7:00 am AUGUST 12 | USBGC BREAKFAST Springs Preserve | 7:00 am AUGUST 12 | MONTHLY RETAIL DIVISION MEETING Main Conference Room | 9:00 am AUGUST 13 | SIOR LUNCHEON Maggiano’s Restaurant | 12:00 pm AUGUST 13 | MONTHLY INDUSTRIAL DIVISION MEETING Main Conference Room | 9:00 am
AUGUST 1ST THE HC | FITNESS CENTER OPENS
AUGUST 12TH MONTHLY RETAIL MEETING
AUGUST 13TH MONTHLY INDUSTRIAL MEETING
AUGUST 14 | CREW LUNCHEON Ferraro’s Restaurant | 11:30 am
AUGUST 27TH
AUGUST 21 | NAIOP BREAKFAST The Orleans | 7:00 am
MONTHLY OFFICE MEETING
AUGUST 27 | MONTHLY OFFICE DIVISION MEETING Main Conference Room | 9:30 am AUGUST 27 | CCIM LUNCHEON The Orleans | 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 GARRY CUFF
DEAN WILMORE DAN DOHERTY SPENCER PINTER
BRIAN RIFFEL KEITH CUBBA
BROKER RANKINGS - YEAR TO DATE: 2014 1. MIKE STUART 2. SCOTT GRAGSON 3. DAN DOHERTY 4. PAT MARSH 5. DEAN WILLMORE 6. SPENCER PINTER 7. MIKE DELEW 8. BRIAN RIFFEL 9. DAN GLUHAICH 10. GARRY CUFF 11. KEITH CUBBA 12. CHRIS CONNELL 13. RYAN MARTIN 14. MIKE MIXER 15. JASON LESLEY 16. BRIDGET RICHARDS 17. DAVID GRANT 9
BROKER RANKINGS
18. ROBERT TORRES 19. ERIC TUMBLESON 20. GRANT TRAUB 21. PATTI DILLON 22. TOM STILLEY 23. LIZZ STILLEY 24. ERIC MOLFETTA 25. PHILLIP DUNNING 26. DAVE FREAR 27. TABER THILL 28. ANDREW KILDUFF 29. STACY SCHEER 30. GREG PANCIROV 31. SUSAN BORST 32. SCOT MARKER 33. AL TWAINY 34. CHRIS LANE
35. VINCE SCHETTLER 36. RENAE RUSSO 37. REBECCA STANIEC 38. CHRIS LOBELLO 39. TOM NASEEF 40. JOSH SMITH 41. SAM NEWMAN 42. SUZETTE LAGRANGE 43. DELIA DOMINGUEZ 44. FRANK MARRETTI 45. JOE BONIFATTO 46. ANGELA BATES 47. PATRICK MCNAUGHT 48. GEORGE CONNOR 49. JULIE BAUMAN 50. JOHN KILPATRICK
BY THE NUMBERS - JUNE 2014 LAS VEGAS - JUNE 2014 RESULTS PROPERTY TYPES
JUNE SALES REVENUE vs LEASE REVENUE
SALES: $844,794
LEASE: $599,018
79 DEALS IN JUNE $1,443,812 GROSS SALES ANNIVERSARIES: JUNE 2014 1. MIKE STUART 2. TOM STILLEY 3. GREG PANCIROV 4. DAN DOHERTY 5. DAVE FREAR 6. PAT MARSH 7. JENNIFER KENNEDY 8. SAM NEWMAN 9. CHRIS CONNELL 10. FRANK MARRETTI 11. JERRY DOTY 12. TYLER JONES
1994 1996 1997 1998 1998 1998 2007 2010 2011 2012 2012 2012
20 YEARS 18 YEARS 17 YEARS 16 YEARS 16 YEARS 16 YEARS 7 YEARS 4 YEARS 3 YEARS 2 YEARS 2 YEARS 2 YEARS
TOP 10 AGENTS: JUNE 2014 1. JASON LESLEY
6. CHRIS CONNELL
2. BRIDGET RICHARDS 7. MIKE DELEW 3. ERIC TUMBLESON
8. DAN DOHERTY
4. MIKE MIXER
9. RYAN MARTIN
5. SPENCER PINTER
10. KEITH CUBBA
BY THE NUMBERS
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BROKERS OF THE MONTH - JUNE 2014 On a typical weekend night, where might we find you? At home with my beautiful wife, Karri, and two beautiful babies, Torrhen and Tayla Jo. What’s the best thing you have ever eaten & where? Mia’s Brisket Tacos in Dallas, TX How do you unplug after a busy day? With an ice cold beer!! Tell us something people don’t know about you? Back in high school when I was recruited to play football in college, Lou Holtz called the house one night and unfortunately for him my mother answered. All I could hear her say was, “You’re a day late and a dollar short”, then hung-up the phone on him since he interrupted our family dinner…….no good-bye, no thanks for calling. She looked at me and said, “You never go back on your word and you already made your decision, so live with it”. Needless to say I did not make the recruiting visit to Notre Dame…. guess I should have answered the phone.
PROFILE
JASON LESLEY SENIOR VICE PRESIDENT INVESTMENT DIVISION Colliers Las Vegas
Jason’s commercial investment sales experience brings significant value to Colliers International for client services. His professionalism and industry knowledge have been consistently demonstrated through the quality of service that he provides to clients, resulting in many of the largest real estate transactions in Southern Nevada. Over the past 10 years, Jason has been involved in transactions totaling $400,000,000 and more than 2,500,000 square feet.
CONGRATULATIONS JASON!
ICEBREAKER - INTERESTING TIDBITS FROM PEOPLE YOU WORK WITH What books on your shelf are begging to be read? Books begging to be read on my bookshelves: College books from courses in Japanese, German and Spanish. What is your favorite quote? “Treat others like you like others to treat you.” What’s the best advice someone has given you? Don’t count your chickens until they hatch. Where is your favorite local place to take an out-of-town guest? Sammy’s Woodfired Pizza at Green Valley & Pebble. What do you enjoy doing when you’re not working? Working out and dining out (a lot of dining out!).
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BROKER OF THE MONTH
Al Twainy Vice President, Investment Division
BROKERS OF THE MONTH - JUNE 2014 On a typical weekend night, where might we find you? Checking out some live music or hosting a game night. What’s the best thing you have ever eaten & where? Omelets at my Granny’s house with her fresh brewed sweet tea. How do you unplug after a busy day? Boxing class then into the pool. Tell us something people don’t know about you? I trekked village to village in the lower Himalayas in 2008 for 3 weeks, rode an elephant in the jungle in Nepal unattended then got stuck in Thailand for 8 days.
PROFILE
BRIDGET RICHARDS SENIOR VICE PRESIDENT INVESTMENT DIVISION Colliers Las Vegas
Before joining Colliers International, Bridget established New Growth Commercial Real Estate Company in 2006; an innovative, boutique commercial real estate brokerage. As the Broker and Managing Director of the office she participated in commercial transactions including all disciplines (Office, Medical Office, Industrial, Investment, Land, and Retail). Bridget’s background is in the development, sales and purchases of commercial projects. Ms. Richards has successfully closed over $200,000,000 in transaction volume. Her strengths are overall transaction management, attention to contract details, ethics, interest-based negotiation, financial analysis, market analysis, user decision analysis, and investment analysis for commercial investment real estate.
CONGRATULATIONS BRIDGET!
Mike’s Quote of the Month:
“Buy land, they’re not making it anymore.” – Mark Twain
NEW TEAM MEMBERS & LINKS FOR LIFE
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LAS VEGAS PHONE DIRECTORY INDUSTRIAL Susan Borst Mike De Lew Dan Doherty David Frear 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 3723 +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 Delia Dominguez +1 702 836 3778 Stacy Scheer +1 702 836 3762 RETAIL Angela Bates George Connor Chris Connell Phillip Dunning Dan Gluhaich David Grant Scot Marker Eric Tumbleson Al Twainy
+1 702 836 3779 +1 702 836 3786 +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 Tom Naseef +1 702 836 3720 RECEIVERSHIP Christopher LoBello +1 702 836 3714
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COMPANY DIRECTORY
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 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
July 23, 2014 Time Management in a Minute (Part 2) Note: Part 1 is on June 24 Instructor: Nancy Morris Session: 8:00am – 9:00am Registration: Open Enrollment July 24, 2014 Networking Strategies & Tool for Success Instructors: Maria Pia Intini and John Gartner Session: 8:00am – 9:00am Registration: Open Enrollment Augus 4, 2014 Selling Green Building Cerification – Where is the Value? Instructor: Nancy Morris Session: 8:00am – 9:00am Registration: Open Enrollment
“Our only sustainable competitive advantage is our ability to learn faster than the competition.” - Craig Robbins,
Chief Knowledge Officer
Augus 28, 2014 Experts Recruiting Experts Instructors: Mindy Geisser, David Pinsel, Maury Dubuque & Scott Nelson Session: 9:00am – 10:00am Registration: Open Enrollment
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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