Accelerating success.
June 2015
Las Vegas Insider A communication for brokers, employees, colleagues and friends
“It’s your road, and yours alone. Others may walk it with you, but no one can walk it for you.” – Unknown
TABLE OF CONTENTS
> BOUNCING AMONG THE BUBBLES
3
> BY THE NUMBERS
10
> WOO-HOO FOR COLLIERS MEMBERS
4
> BROKER OF THE MONTH
11
> FEATURED DEALS
5
> WELCOME TO COLLIERS
12
> NEW LISTINGS & IN THE NEWS
7
> SIOR LUNCHEON MEETING
12
> UPCOMING EVENT
8
> COMPANY DIRECTORY
13
> BROKER RANKINGS
9
> COLLIERS UNIVERSITY
14
STAY CONNECTED WITH COLLIERS LAS VEGAS facebook.com/collierslv
twitter.com/Colliers_LV
TABLE OF CONTENTS
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Bouncing Among the Bubbles BY: JOHN STATER
Commercial real estate does not exist in a bubble. A well-worn phrase, yes, but what does it mean? In this instance, it means that commercial real estate is one of a spectrum of investments, and must compete with all of the other investment vehicles out there – stocks, bonds, Hummel figurines, scarves bearing the sweat of the sainted King of Rock n Roll, etc. – for the money of investors. In other words, it’s not enough that you’re selling the best Class B office property investment in Las Vegas, or even in the world – that office building must compete with every other investment vehicle in the world as well. On some level, your building needs to compete with Microsoft stock, pork bellies and collectible Elvis plates. Why is this important? Because the goingson in those other investment worlds has an impact on Southern Nevada’s commercial real estate. We might wonder why more money isn’t flowing into Southern Nevada’s CRE market when that market appears to be on the mend, but if you consider all the other places that money could go, its absence in our market is not so surprising. If investors can make more money in stocks, money is going to flow into stocks. If they can make more money in commodities, money will flow into commodities. Granted, the timeframe of the investment matters as well, as does the investor’s expertise in various investment vehicles – an investor who knows commercial real estate, but who doesn’t know a pork belly from a jelly belly might not want to put money in commodities, even though that market might, on paper, look better than commercial real estate. Still, in aggregate, investment money tends to go where the yield is best. At the moment, yield appears to be hanging around those aforementioned stocks and commodities. Why? There might be numerous reasons, of course, but the loose money policies pushed by central banks is probably one of those reasons. All of that money must go somewhere, and the folks placing it want to realize a profit
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BOUNCING AMONG THE BUBBLES
on their investment now, rather than later. Commercial real estate is usually a “later”, not a “now” in terms of investment. If we are in a deflationary mode at the moment, long term investments like real estate are more attractive. If inflation is looming on the horizon, as some people fear, those long term investments are less attractive. Still, things do change. The latest intelligence suggests that stocks and commodities might be overvalued. Some corporations are taking on cheap debt to make themselves look more profitable than they really are, thus goosing their stock value. As with all unorthodox business strategies, some businesses are going to get away with it, others will not. Eventually that debt must be paid. Meanwhile, Japan’s central bank seems to have decided that Thelma and Louise had the right idea, and it’s now going pedal to the metal towards one heck of a cliff. The term kamikaze might be politically incorrect in this context, but it is probably appropriate nonetheless. What Japan is doing now will lead to currency wars in Asia and then worldwide, and then who knows? Our own Fed looks set to begin raising rates this year. The point is that if commercial real estate is not the most attractive option today, it might be tomorrow. If you see the stock and commodity markets turn bearish, expect to see the smart money head once again towards the commercial real estate market (except for the smart money that’s shorting those other markets). Hopefully this shift, if it occurs, will occur while Southern Nevada’s market still looks healthy, so we can capture a share of that money.
”Listen to your clients and understand their investment strategy,” and where commercial real estate might fit in. Property prices are still relatively low in Southern Nevada, and that should make them more attractive to long-term investors. Short term investors are probably slowing down for the time being, unless we see that new wave of foreclosures finally break on our shores. Oh - and when you see the stupid money head into commercial real estate, cash in your chips and batten down the hatches, because it means our 3 hour tour is just about over. -JMS
WOO-HOO FOR COLLIERS MEMBERS! RENAE RUSSO
RECEIVES LEED GREEN ASSOCIATE DESIGNATION Renae, Associate and member of Colliers Industrial/Office Team, was recently awarded the LEED Green Associate designation from the U.S. Green Building Council (USGBC) and is pursuing the LEED AP credential with Building Design + Construction (LEED AP BD+C). As a LEED Green Associate, Renae demonstrates a solid and current foundation in sustainable principles and practices in green design, construction and operation to better assist high quality tenants, achieve maximum rents and generate highest selling prices, while also benefiting our environment. Great job!
CONGRATULATIONS RENAE!
MIKE MIXER
SIOR, EXECUTIVE MANAGEMENT SPECIALIST Mike recently achieved his SIOR designation where he can begin expanding his knowledge and experience as a professional affiliate of the National Association Of Realtors, SIOR is dedicated to the practice and maintenance of the highest professional and ethical standards. SIOR maintains a commitment to business and industry by providing outstanding professional services, publications, and educational programs. Amazing job!
CONGRATULATIONS MIKE!
NICOLE CAUILAN
FULL-TIME GRAPHICS ASSISTANT Nicole joined Colliers 4 months ago as an intern in the graphics department. Nicole showed enthusiasm and hardwork in her graphic capabilities. Effective June 22nd, Nicole has been officially hired as a full-time employee in graphics. Welcome aboard!
CONGRATULATIONS NICOLE!
CHRIS ZUNIS
ASSOCIATE INDUSTRIAL DIVISION Chris has teamed up with Eric Molfetta in the Industrial Division and recently received his real estate license, passing the test on his first attempt. Way to go!
CONGRATULATIONS CHRIS!
WOO-HOO FOR COLLIERS MEMBERS
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FEATURED DEALS KEITH CUBBA FINALIZED ±153.32 ACRES GOLF COURSE
A sale to Chimera Golf Club LLC. The ±153.32 acre golf course is located at the Tuscany Golf Club at 901 Olivia Parkway in Henderson, Nevada. The transaction amount was $4,000,000. Keith Cubba of Colliers International represented the seller, Century Tuscany GC LLC.
PANCIROV, SIOR, DELEW, SIOR & WILLMORE, SIOR COMPLETE ±2,727 SF INDUSTRIAL/OFFICE DEAL A lease to Festus Ebonka dba Ozomor Medical. The ±2,727 square-foot industrial/ office property is located in the Pace Commerce Center at 4481 Reno Avenue in Las Vegas. Greg Pancirov SIOR, Mike De Lew SIOR and Dean Willmore SIOR of Colliers International represented the lessor, FJM Vegas Holdings, LLC.
DAVID GRANT & PHILLIP DUNNING COMPLETE ±5,567 SF INVESTMENT DEAL A sale to Manchester LAX LLC. The ±5,567 square-foot 7-Eleven/Jack In The Box NNN investment is located at 6515 East Lake Mead Boulevard in Las Vegas. The transaction value was $4,000,000. David Grant and Phillip Dunning CCIM of Colliers International represented the seller, Piianaia LP.
BRIDGET RICHARDS & JASON LESLEY COMPLETE ±2,554 SF OFFICE DEAL A sale to Sedum LLC. The ±2,554 square-foot office property is located in Shea at Sunset at 3674 East Sunset Road in Las Vegas. The transaction amount was $280,000. Bridget Richards CCIM and Jason Lesley CCIM of Colliers International represented the seller, Sunset Pecos II LLC.
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FEATURED DEALS
RENAE RUSSO, KP, LEED GREEN ASSOCIATE FINALIZED ±2,548 SF INDUSTRIAL DEAL A sale to Williams General Consulting LLC. The ±2,548 square-foot industrial property is located in the Center Point Business Park at 1170 Center Point Drive in Henderson, Nevada. The transaction value was $61,448.64. Renae Russo KP of Colliers International represented the seller, Desert Breeze Development LLC.
REBECCA STANIEC FINALIZED ±2,430 SF OFFICE DEAL A lease to Verity Consulting Inc. The ±2,430 square-foot office property is located in the Holsum Design Center at 241 West Charleston Boulevard in Las Vegas. Rebecca Staniec of Colliers International represented the lessor, LGC 231 LLC.
TOM NASEEF, CCIM, SIOR & JEFF NASEEF COMPLETE ±17,649 SF MEDICAL/OFFICE DEAL A lease to Desert Orthopedic Center LTD. The ±17,649 square-foot medical/office property is located at 8205 West Warm Springs Road in Las Vegas. Tom Naseef CCIM SIOR and Jeff Naseef of Colliers International represented the lessee.
SPENCER PINTER FINALIZED ±6,000 SF INDUSTRIAL DEAL A lease to Dream Cars Las Vegas. The ±6,000 square-foot industrial property is located in the Mesa Vista Business Center at 3955 West Mesa Vista Avenue, Suite A-6 in Las Vegas. Spencer Pinter of Colliers International represented the lessor, Mesa Vista Business Center LLC.
THILL, SIOR, MARTIN, CCIM SIOR & DILLON COMPLETE ±16,352 SF OFFICE DEAL A lease to Allstate Insurance. The ±16,352 square-foot office property is located in the Green Valley Corporate Center at 2360 Corporate Circle in Henderson, Nevada. Taber Thill SIOR, Ryan Martin SIOR, CCIM, and Patti Dillon of Colliers International represented the lessee.
PHILLIP DUNNING FINALIZED ±6,099 SF RETAIL DEAL A lease to LoLo’s Chicken and Waffles. The ±6,099 square-foot retail property is located in the Best in the West Shopping Center at 2040 North Rainbow Boulevard in Las Vegas. Phillip Dunning CCIM of Colliers International represented the lessee.
FEATURED DEALS
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NEW LISTINGS GREG PANCIROV | MIKE DELEW 111-125 Corporate Park Drive | Henderson, NV •
•
INDUSTRIAL
SUZETTE LAGRANGE | KARA WALKER 2140 E. Pebble Road, Suite 100 | Las Vegas, NV
±6,000 & ±12,000 SF Freestanding Industrial Buildings with Secure Yards For Lease $0.65 – $0.68/SF NNN
• •
• DAVID GRANT NWC Eastern & Warm Springs | Las Vegas, NV • • •
• •
STACY SCHEER 3860 Hualapai Way | Las Vegas, NV
Commercial Parcel Available for Purchase ±2.49 Acres Asking Price $1,030,000/$9.50 PSF
SCOT MARKER Henderson Freeway Crossing | Henderson, NV •
LAND
RETAIL
• •
CHRIS CONNELL | GRANT TRAUB 1050 Flamingo Road | Las Vegas, NV
Nevada Business “Colliers International – Las Vegas Updates June 16, 2015
http://www.nevadabusiness.com/2015/06/colliers-international-las-vegas-updates-june-16-2015/
Vegas Inc. “Surround yourself with smart people who can challenge and inspire you” http://issuu.com/gmgproduction/docs/2015-06-07_-_vegas_inc_-_las_vegas
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NEW LISTINGS & IN THE NEWS
±5500 SF Turnkey, Class C-Rated Surgery Center with Medical Office FF&E Included Located near Summerlin, on I-215 & Hualapai Way OFFICE
• •
•
COLLIERS IN THE NEWS
±8,757 RSF Professional Office Suite Perfect for attorney, CPA & many other large professional office users. Rate: $1.65 / SF MG MEDICAL
•
Retail Pad For Sale Or Lease ±1.31 Acres Located at Eastgate and Lake Mead Boulevard
OFFICE
Suite Sizes Ranging from ±436 RSF to ±12,155 RSF Turn-key Suites Available for IMMEDIATE Occupancy Lease Rates at $1.20 PSF/Month FSG
Mike’s Quote of the Month:
“The past may not repeat itself, but it sure does rhyme” - Mark Twain
UPCOMING EVENTS JULY 3 | FOURTH OF JULY Office Closed JULY 8 | SIOR LUNCHEON Maggiano’s Little Italy | 12:00pm JULY 9 | CREW LUNCHEON Las Vegas Convention Center | 11:30am JULY 14 | USGBC BREAKFAST Innovation Center | 7:00am JULY 15 | MONTHLY RETAIL MEETING Main Conference Room | 9:00am JULY 16 | NAIOP MONTHLY BREAKFAST Orleans Hotel & Casino | 7:30am
JULY 3RD OFFICE CLOSED
JULY 8TH SIOR LUNCHEON
JULY 9TH CREW LUNCHEON
JULY 14TH USGBC BREAKFAST
JULY 17 | ALOHA FRIDAY
JULY 15TH
JULY 24 | ALOHA FRIDAY
MONTHLY RETAIL MEETING
JULY 29 | MONTHLY OFFICE MEETING Main Conference Room | 9:00am JULY 31 | ALOHA FRIDAY AUGUST 4 | MONTHLY INDUSTRIAL LUNCH 12:00pm
JULY 16TH NAIOP MONTHLY BREAKFAST
JULY 29TH MONTHLY OFFICE MEETING
AUGUST 4TH MONTHLY INDUSTRIAL LUNCH UPCOMING EVENTS
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LOOK WHO MADE THE PLANE! 2015 SALES AWARD TRIP MAUANA KEA - JUNE 18, 2016 - JUNE 22, 2016
YEAR-TO-DATE BROKERS WHO QUALIFY FOR THE HAWAII TRIP DAN DOHERTY MIKE MIXER MIKE STUART DAVID GRANT
MIKE DELEW SPENCER PINTER SUSAN BORST
BROKER RANKINGS - YEAR TO DATE: MAY 2015 1. DAN DOHERTY 2. MIKE STUART 3. MIKE DELEW 4. DAVID GRANT 5. SPENCER PINTER 6. MIKE MIXER 7. SUSAN BORST 8. DAN GLUHAICH 9. GRANT TRAUB 10. CHRIS CONNELL 11. DEAN WILLMORE 12. RYAN MARTIN 13. TABER THILL 14. PHILLIP DUNNING 15. BRIDGET RICHARDS 16. JASON LESLEY 17. PAT MARSH 9
BROKER RANKINGS
18. PATTI DILLON 19. BRIAN RIFFEL 20. KEITH CUBBA 21. GREG PANCIROV 22. STACY SCHEER 23. ANDREW KILDUFF 24. CHRIS LANE 25. SCOT MARKER 26. ERIC MOLFETTA 27. TOM NASEEF 28. RENAE RUSSO 29. AL TWAINY 30. ERIC TUMBLESON 31. SCOTT GRAGSON 32. PAT MCNAUGHT 33. JOE BONIFATTO 34. SUZETTE LAGRANGE
35. REBECCA STANIEC 36. VINCE SCHETTLER 37. ROBERT TORRES 38. JOSHUA SMITH 39. FRANK MARRETTI 40. GARRY CUFF 41. DAVE FREAR 42. TOM STILLEY 43. CHRIS LOBELLO 44. CHARLES CONNORS 45. SAM NEWMAN 46. GEORGE CONNOR 47. JULIE BAUMAN 48. STEVEN HAYNES 49. KARA WALKER 50. JOHN KILPATRICK
BY THE NUMBERS - MAY 2015 LAS VEGAS - MAY 2015 RESULTS PROPERTY TYPES
SALES REVENUE vs LEASE REVENUE OFFICE 14%
Other 15%
LEASE 49%
Retail 17%
Land 8%
SALE 51%
INDUSTRIAL 46%
67 DEALS IN MAY ANNIVERSARIES: MAY 2015 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.
Gina Jones Kimberlee Hamilton Eric Tumbleson Lisa Cheplak Dan Gluhaich Eric Molfetta Sara Johansson Julie Bauman Robert Henn Maurica Brown Jessie Noche
1998 2007 2010 2010 2012 2012 2013 2014 2014 2014 2014
17 YEARS 8 YEARS 5 YEARS 5 YEARS 3 YEARS 3 YEARS 2 YEARS 1 YEAR 1 YEAR 1 YEAR 1 YEAR
TOP 10 AGENTS: MAY 2015 1. DAN DOHERTY
6. MIKE DELEW
2. KEITH CUBBA
7. DAVID GRANT
3. SPENCER PINTER
8. SUSAN BORST
4. MIKE STUART
9. STACY SCHEER
5. PHILLIP DUNNING
10. RENAE RUSSO
BY THE NUMBERS
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BROKER OF THE MONTH - MAY 2015 If you could go to any concert, past or present, what would it be? Rascal Flats or Maroon 5 What advice would you give your 18-year-old self? Work hard in school and it will pay off. Favorite place you ever traveled to? Biking trip through the Loire Valley in France What’s one book everyone should read? Where the Red Fern Grows
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.
CONGRATULATIONS DAN!
ICEBREAKER - INTERESTING TIDBITS FROM PEOPLE YOU WORK WITH What are your nicknames? Nate, Nat, & Natwee
What is the best book you’ve ever read, and why? Pride and Prejudice. It is enchanting and is hard not to get swept up in.
What is your favorite quote? “You can tell more about a person by what he says about others than you can by what others say about him.” - Audrey Hepburn
What’s the best advice someone has given you? “There is no need to stress about things... stress doesn’t change the outcome, it just gives you wrinkles.” - June Wilkinson aka Nana
What do you enjoy doing when you’re not working? When I’m not at work, I am raising one amazing kid. I also love hanging out with my family or going out dancing with my friends.
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BROKER OF THE MONTH
NATALIE HUFFORD Administrative Assistant
WELCOME TO COLLIERS! GARRETT CONNOR | Associate Garrett will be working with George W. Connor in the Urban Retail Division. Before joining Colliers International, Garrett was an Analyst at TwinRock Partners, a real estate investment firm based in Newport Beach. While at TwinRock Partners, Garrett was responsible for analysis, due diligence, and transaction execution functions for the acquisition of new assets. He also assisted the controller with overseeing the accounting department by developing and implementing accounting controls, processes, and procedures. Garrett is a graduate from California State University Fullerton with a Bachelor’s Degree in Finance. He has lived in Las Vegas for 18 years and enjoys Crossfit, snowboarding, and traveling in his spare time.
SIOR LUNCHEON MEETING Colliers Las Vegas hosted the panel at the monthly SIOR Luncheon on June 10th , the topic covered was an Overview of all Aspects of Commercial Real
Estate
in
Southern
Nevada. Mike Mixer moderated the event, with Dean Willmore, Scott Gragson, Scot Marker, Brian Riffel, Matt Stater and Josh Smith presenting and answering audience questions.
WELCOME TO COLLIERS
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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 3776 +1 702 836 3776 +1 702 836 3773 +1 702 836 3775 +1 702 836 3705 +1 702 836 3763 +1 702 836 3703
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 Garrett Connor 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 3738 +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
LAND Julie Bauman Scott Gragson Steven Haynes John Kilpatrick Pat McNaught Vince Schettler Mike Stuart Robert Torres HOTEL/RESORT Mike Mixer Dharmesh Patel
+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
+1 702 836 3777 +1 702 836 3713
INVESTMENT SERVICES Joe Bonifatto +1 702 836 3729 Robert Henn +1 702 836 3767 Frank Lee +1 702 836 3751 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
MULTI-FAMILY Garry Cuff Jeff Naseef Tom Naseef
+1 702 836 3716 +1 702 836 3731 +1 702 836 3720
VALUATION/ APPRAISAL Josh Smith +1 702 836 3760 RECEIVERSHIP Christopher LoBello +1 702 836 3714
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 Nicole Cauilan Teddie Hickey Sara Johansson Gina Jones Scott Jun Laura Medina Jennifer Pompi Matt Stater
+1 702 836 3791 +1 702 836 3706 +1 702 836 3701 +1 702 836 3771 +1 702 836 3783 +1 702 836 3721 +1 702 836 3769 +1 702 836 3722 +1 702 836 3781
July 14, 2015
Good Side of Your Bad Side Time: 10am to 11am
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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