Accelerating success.
March 2016
Las Vegas Insider A communication for brokers, employees, colleagues and friends
MARCH 2016
1
3 A QUICK ECONOMIC REVIEW UP- NAIOP 4 REV’D SPOTLIGHT AWARDS SALES AWARD 5 BROKER TRIP 2016 6 LINKS FOR LIFE 7 FEATURED DEALS 8 NEW LISTINGS
9 UPCOMING EVENTS 9 WELCOME TO COLLIERS 10 BROKER RANKINGS 11 BY THE NUMBERS 12 BROKER OF THE MONTH 13 PHONE DIRECTORY
Mike’s Quote of the Month
You
can’t be that kid standing at the top of the waterslide, overthinking it. You have to go down the chute.
-Tina Fey
Staff Appreciation Day
On March 18th, the staff from Colliers Las Vegas enjoyed lunch and participated in Wine and Canvas at The Martini. Getting to know each other and sharing laughs was a day well spent! STAY CONNECTED WITH COLLIERS LAS VEGAS facebook.com/collierslv
twitter.com/Colliers_LV
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MARCH 2016
Consuming chocolate was considered a sin in the 16th and 17th century.
A Quick Economic Review
This week, I had the opportunity to sit in on the Center for Business and Economic Research’s sponsor’s seminar and listen to some smart people talk about the economy, national and local. In general, the mood was positive. Here are some takeaways you might find interesting:
The Big Picture • • •
Expansion of the national economy is slowing; 2 percent growth looks like the new normal The global economy is slower growth as well; the IMF is lowering its expectations That being said, there are no reliable signs pointing to a near-term recession
Local Economy • • • • • • •
Southern Nevada’s economy is almost back to peak The construction trend is good, especially for infrastructure; school construction and renovation are planned; $10-12 billion of projects are out there, from Project Neon to Interstate 11 to the school district A CRE guy other than me said that while retail and industrial are doing well, office remains flat; sees no catalyst for creating office jobs My commentary – Office has done well, in general, over the past 2 years, and job growth in office sectors has actually been quite good; this might have more to do with his specific product than the overall market Banking’s biggest problem right now is finding qualified people to be lenders; local assets and deposits are up No new banks are being organized, which exacerbates “too big to fail” – government isn’t helping There is some worry in banking over a regional (Southwest U.S.) recession, but not much
Hospitality • • • • • •
Hospitality is doing great – forecasting 0.5 percent visitor volume growth in 2016; future bookings for 2016 are very strong, but they are lagging for 2017 In terms of rooms, supply is declining, which is great for operators, whose profit margins will increase The competition for high value folks between resorts is very high Macau and Singapore are still making lots of money, and will see an upswing after the crackdown on corruption ends The Las Vegas hospitality market is increasing its momentum, and 2016 should be a record year Convention Center project has three key phases: Phase 1 is the purchase and demolition of the Riviera, Phase 2 the creation of a new 600,000 square foot exhibition hall and renovation of existing halls, Phase 3 is the renovation of existing halls and upgrade ingress/egress
Housing • • • • • •
Southwest Gas sees population growth improving Dennis Smith of Homebuilders Research painted a less rosy picture; sees a disconnect between new home construction and current job levels – points to the “shadow inventory” and people opting for multifamily, but also the inability to make new developments pencil due not to increases in land prices, but in increases in government fees and regulations Home builders are still focused on expensive homes because they pencil, but the luxury market is becoming saturated The negative equity shadow is still hurting the market; Frank Nason also pointed to up to 25,000 homes in the market which are vacant and not foreclosed on, or which are inhabited by people not paying their mortgage; these will have a tremendous impact on the market as they are released The trend of increasing home prices is coming to an end – they’re hitting a limit on what buyers can afford That being said, the resale market is pretty healthy given its inherent problems
The overall picture, as I said above, is positive. The local economy should continue to grow in 2016 barring any major negative events. We are now approaching seven years of growth since the end of the Great Recession, and next year would extend that to eight. Cyclical recessions (the usually mild recessions) usually hit about once every five years, so eight years of growth is pushing it. From this point forward, the chances of a recession rise with each passing year. This is something to keep in mind when you’re working with clients signing three or five year leases, or who are planning to purchase an investment property.
MARCH 2016
3
COLLIERS LAS VEGAS WAS NAMED BROKERAGE FIRM OF THE YEAR FOR THE ELEVENTH CONSECUTIVE YEAR By NAIOP Southern Nevada. The award was announced at NAIOP’s 19th annual Spotlight Awards event, Rev’d Up, on March 12th at the Hard Rock Hotel and Casino. This award is the highest honor that a Brokerage Firm can receive through NAIOP, and the judging was based on the firm’s highlights from the previous year, significant transaction volume, and widespread local community service and charitable involvement. Colliers broker Dan Doherty, SIOR, was also honored as NAIOP’s Industrial Broker of the Year and Ryan Martin, CCIM, SIOR, Taber Thill, SIOR and Patti Dillon were named Office Broker of the Year. Additionally, Al Twainy, CCIM was a finalist for the Retail Broker of the Year Award.
Colliers International-Las Vegas won brokerage firm of the year (11th consecutive year).
Dan Doherty won industrial broker of the year.
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MARCH 2016
Patti Dillon, Taber Thill and Ryan Martin won office broker of the year.
BROKER SALES AWARD TRIP 2016 The Hawaii Trip took place on March 18-22, 2016. Congratulations to those who made the plane! Here are some photos to recap the event.
MARCH 2016
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$600 | INDIVIDUAL
$1,000 COSTUME CONTEST
$2,000 | FOURSOME
LUXURY WATCH RAFFLE
AFTER PARTY LIVE MUSIC
VISIT LFL2016.COLLIERSLASVEGAS.COM TO
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MARCH 2016
FEATURED DEALS INDUSTRIAL SALE
Greg Pancirov, SIOR and Mike DeLew, SIOR completed a ±72,164 square foot sale to ATTAP Company, Inc. The industrial property is located at 1841 East Craig Road in North Las Vegas. The transaction amount was $7,150,000.00. Pancirov, SIOR and DeLew SIOR of Colliers International represented the seller, 1031 Services, Inc. as QI for CJP.
RETAIL LEASE David Grant finalized a ±1,300 square foot lease to Christopher Todd Design, LLC. The retail property is located in Green Valley Plaza at 2706 North Green Valley Parkway in Henderson. Grant of Colliers International represented the landlord, Donahue Schriber Realty Group, LP.
MEDICAL/OFFICE SALE
Stacy Scheer, CCIM, LEED GA finalized a ±18,000 square foot sale CWRP DR MOB Henderson, LLC. The medical office property is located in the Desert Radiology Medical Building at 2811 West Horizon Ridge Parkway in Henderson. The transaction amount was $6,375,000.00. Tom Naseef, SIOR, CCIM and Jeff Naseef of Colliers International represented the seller, Palomino Holdings-Henderson. Scheer, CCIM, LEED GA of Colliers International represented the buyer.
OFFICE LEASE Rebecca Staniec finalized a ±4,000 square foot lease to I-View Now, LLC. The office property is located in Sunset Professional Plaza at 2920 Green Valley Parkway, Suite 424 in Henderson. Staniec of Colliers International represented the landlord, Landmark Ventures, LLC.
INDUSTRIAL LEASE Spencer Pinter finalized a ±6,000 square foot lease to Voip Supply, LLC. The industrial property is located in Mesa Vista Business Center at 3955 West Mesa Vista Avenue, Suite A-7 in Las Vegas. Pinter of Colliers International represented the landlord, Mesa Vista Business Center, LLC.
MARCH 2016
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NEW LISTINGS OFFICE - FOR SALE 6525 West Warm Springs Road
INDUSTRIAL - FOR LEASE 1775 Executive Airport Drive
OFFICE - FOR LEASE Hughes Tech Center
Taber Thill, SIOR, Stacy Scheer, CCIM LEED GA, Ryan Martin, SIOR, CCIM & Patti Dillon are representing a ±7,431 SF, turn-key office with upgraded TIs & could be easily converted for medical use. The property is located in the Southwest off I-215 & Rainbow Boulevard near St. Rose-San Martin Hospital & selling for $1,671,975 in Las Vegas.
Dan Doherty, SIOR, Susan Borst, CCIM, Chris Lane & Jerry Doty are representing a ±482,300 SF available divisible to ±109,200 SF. The property is located at the South15 Airport Center in Henderson, NV. Includes 44 (9’ x 10’) dock doors, 4 (12’ x 14’) grade doors & 38 trailer parking stalls.
Taber Thill, SIOR, Patti Dillon & Ryan Martin, SIOR, CCIM are representing a ±40,000 – ±95,000 SF Former Call Center that is Located in Airport Submarket near several amenities & within minutes of McCarran International Airport & has direct visibility along Airport Connector in Las Vegas.
RETAIL - FOR LEASE 740 Horizon Drive
RETAIL - FOR LEASE 9475 West Desert Inn Road
OFFICE - FOR SALE OR LEASE 7432 West Sahara Avenue
David Grant is representing a ±3,400 SF Auto Building that was constructed in 2005. The building is adjacent to Just Brakes & Taco Bell, includes 11 Bays and zoned Henderson, Community Commercial, CC.
Phillip Dunning, CCIM is representing a freestanding ±14,028 SF building that is situated on ±2.23 Acres zoned C-1. Surrounding retail renants include Walgreens & CVS. Serves nearby master planned communities of; The Lakes, Peccole Ranch & Summerlin.
Chris Connell & Grant Traub are representing a ±4,260 SF turn-key office building situated on ±.18 acres with ample parking; covered parking available. Centrally located to Summerlin Masterplanned Community to the west & I-15 & the Las Vegas Strip to the east. Asking Price: $175.00 PSF / $745,500; Lease Rate: $1.30 PSF/ Month MG in Las Vegas.
Nevada Business “Colliers International Lists Acclaimed Pete Dye Golf Club for Sale” http://www.nevadabusiness.com/2016/03/colliers-international-lists-acclaimed-pete-dye-golf-club-for-sale/ Vegas Inc “Congratulations to the VEGAS INC 2016 40 Under 40 honorees” http://vegasinc.com/news/2016/mar/21/congratulations-to-the-vegas-inc-2016-40-under-40/ Nevada Business “Colliers International – Las Vegas Recognized as Brokerage Firm of the Year for the 11th Consecutive Year” http://www.nevadabusiness.com/2016/03/colliers-international-las-vegas-recognized-as-brokerage-firm-of-the-year-for-the11th-consecutive-year/ 8
MARCH 2016
U P C O M I N G
EVENTS
APRIL 7th
APRIL 12th
APRIL 13th
APRIL 20th
CREW LUNCHEON Las Vegas Country Club
USGBC BREAKFAST inNEVation Center
MONTHLY RETAIL MEETING Main Conference Room
MONTHLY OFFICE MEETING Main Conference Room
SIOR LUNCHEON Maggiano’s Little Italy
IYP MIXER - BEER PARK Paris Las Vegas
11:30am
LAS VEGAS HEALS – HEALTHCARE HAPPY HOUR Redrock Fertility Center
7:00am
9:00am
12:00pm
QUARTERLY BROKER MEETING Main Conference Room
6:00pm
9:30am
5:30pm
3:00pm
APRIL 21st
APRIL 26th
APRIL 27th
APRIL 28th
NAIOP BREAKFAST Springs Preserve
MONTHLY INDUSTRIAL MEETING Main Conference Room
CCIM LUNCHEON Palms Hotel & Casino
NAIOP GOLF TOURNAMENT Las Vegas Paiute Golf Resort
7:30am
9:00am
11:30am
7:00am
RISOTTO WITH STUART Colliers Café 11:30am
LINDA KENNEDY | Administrative Assistant Please join us in welcoming Linda Kennedy to the Colliers Las Vegas office as Administrative Assistant to the Office Division. While her primary role is to provide administrative support to the Office team of Ryan Martin, CCIM, SIOR, Taber Thill, SIOR and Patti Dillon, she also functions as the team’s transaction management coordinator. Linda is originally from the San Francisco Bay Area. Her administrative background includes experience in internet communications, software integration, and the homebuilder and utility industries. Linda lives in Summerlin and her interests include exploring the Las Vegas Valley and spending time with her friends, family and their pets.
Welcome aboard Linda!
SUSAN MCMASTERS | Property Manager Please join us in welcoming Susan McMasters to the Las Vegas office as a Property Manager in the Property Management Department. Susan brings 21 years of experience in Commercial Property Management with additional experience in the construction business. In her previous position she managed big box tenants as well as large and small neighborhood shopping centers. She was responsible for ±1.3 million square feet of retail space and ±600,000 square feet of common area. She managed day-to-day operations, repairs and maintenance for her portfolio. While in her former position, Susan was named Property Manager of the year in 2012. She holds a Nevada Real Estate License and Nevada Property Management Permit. Originally from Colorado, Susan has resided in Las Vegas since the summer of 2005. In her free time, Susan enjoys weekly dinners with her younger daughter, taking her dogs to the park, and volunteering for various non-profit organizations. She also enjoys visiting her oldest daughter and her family in Colorado.
Welcome aboard Susan! MARCH 2016
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LOOK WHO MADE THE PLANE!
2016 SALES AWARD TRIP
THE FAIRMONT ORCHID - MARCH 17, 2017 - MARCH 22, 2017
YEAR-TO-DATE BROKERS WHO QUALIFY FOR THE HAWAII TRIP MIKE MIXER MIKE STUART SCOTT GRAGSON DAN DOHERTY
MIKE DELEW* TOM NASEEF* TABER THILL* RYAN MARTIN*
*THESE BROKERS QUALIFIED FOR THE PLANE IN FEBRUARY ... WELCOME ABOARD!
BROKER RANKINGS YEAR TO DATE FEBRUARY 2016 16.
SPENCER PINTER
32.
JASON LESLEY
1.
MIKE MIXER
17.
ROBERT TORRES
33.
BRIAN RIFFEL
2.
DAN DOHERTY
18.
STEVEN HAYNES
34.
SCOT MARKER
3.
MIKE DELEW
19.
CHRIS LANE
35.
RENAE RUSSO
4.
MIKE STUART
20.
SUZETTE LAGRANGE
36.
REBECCA STANIEC
5.
SCOTT GRAGSON
21.
KARA WALKER
37.
BRIDGET RICHARDS
6.
TOM NASEEF
22.
DEAN WILLMORE
38.
GEORGE CONNOR
7.
TABER THILL
23.
GRANT TRAUB
39.
CHARLES CONNORS
8.
RYAN MARTIN
24.
CHRIS CONNELL
40.
DAVE FREAR
9.
SUSAN BORST
25.
ANDREW KILDUFF
41.
DAN GLUHAICH
10.
PATTI DILLON
26.
KEITH CUBBA
42.
CHRIS LOBELLO
11.
GARRY CUFF
27.
DAVID GRANT
43.
FRANK MARRETTI
12.
STACY SCHEER
28.
AL TWAINY
44.
PATRICK MCNAUGHT
13.
PAT MARSH
29.
PHILLIP DUNNING
45.
ERIC TUMBLESON
14.
GREG PANCIROV
30.
VINCE SCHETTLER
46.
JULIE BAUMAN
15.
ERIC MOLFETTA
31.
JOSEPH BONIFATTO
47.
JOHN KILPATRICK
10 MARCH 2016
BY THE NUMBERS FEBRUARY 2016
LAS VEGAS - FEBRUARY 2016 RESULTS OTHER 14%
60 DEALS IN FEBRUARY LEASE 48%
RETAIL 3%
OFFICE 36%
LAND 2%
PROPERTY TYPES
FEBRUARY 2016 Sale Revenue vs. Lease Revenue
SALES 52%
INDUSTRIAL 45%
TOP 10 AGENTS: FEBRUARY 2016 1. DAN DOHERTY
6. TOM NASEEF
2. TABER THILL
7. STACY SCHEER
3. RYAN MARTIN
8. SUSAN BORST
4. MIKE DELEW
9. PAT MARSH
5. PATTI DILLON
10. GREG PANCIROV
ANNIVERSARIES: FEBRUARY 2015 1. LAURIE STEVENS 2001 / 15 YEARS
5. SUSAN BORST 2014 / 2 YEARS
2. PATRICIA WATTS 2004 / 12 YEARS
6. KARA WALKER 2015 / 1 YEAR
3. SCOTT JUN 2011 / 5 YEARS
7. NICOLE CAUILAN 2015 / 1 YEAR
4. PHILLIP DUNNING 2013 / 3 YEARS MARCH 2016 11
BROKER OF THE MONTH FEBRUARY 2016
What characteristic do you value the most in your coworkers?
I love to see people at Colliers treating their role with the company as a career and not just a job. It is usually pretty easy to tell the many who are always willing to go the extra mile. We have so many in our company and I think this is the main reason it is such a wonderful place to work.
If you HAD to give up one of your senses (hearing, seeing, feeling, smelling, tasting) which would it be and why? Believe it or not Taste. Those who know what a foodie I am will know why.
If you could have any kind of pet, what would you have? A tiger shark. That way when they clear the beach like they have just done here in Kona, I can go for a swim with my 14’ pet shark named “max”.
If you could tell your younger self one thing, what would it be? Don’t worry so much…it will all turn out ok.
PROFILE 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. Our Clients include ProLogis, Thrivent Financial, Saddleback Associates, Panattoni Development Co., City National Bank, Wells Fargo, RC Willey Home Furnishings IndCor and Pacific Life Insurance Company just to name a few.
DAN DOHERTY
EXECUTIVE VICE PRESIDENT INDUSTRIAL DIVISION
CONGRATULATIONS, DAN!
Colliers Las Vegas
ICEBREAKER HOW MANY PAIRS OF SHOES DO YOU OWN?
That I actually wear, or just have displayed in my closet? I have too many cute, uncomfortable heels that I hardly ever wear, haha. And boots, I love boots!
INTERESTING TIDBITS FROM PEOPLE YOU WORK WITH
DO YOU PREFER TO TEXT OR TALK ON THE PHONE?
It depends on who it is and what I have to say...
Amanda Palmer ASSOCIATE
IF YOU WERE TO BUY A CAR RIGHT NOW, WHAT WOULD YOU BUY?
As long as it’s reasonably affordable, good on gas mileage and has a few perks like a sunroof and leather seats…that’s all I ask for! 12 MARCH 2016
WHAT IS YOUR FAVORITE ICE CREAM FLAVOR?
BE INVISIBLE OR BE ABLE TO READ MINDS?
Definitely be invisible…I If it has a combination of mint don’t think I’d want to and chocolate, or peanut butter know everyone’s deepest and chocolate, sign me up!! darkest thoughts, haha!
uhm... hello?
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 Kara Walker Dean Willmore Chris Zunis
LAND +1 702 836 3719 +1 702 836 3736 +1 702 836 3707 +1 702 836 3735 +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 Rebecca Staniec Taber Thill
+1 702 836 3790 +1 702 836 3718 +1 702 836 3780 +1 702 836 3720 +1 702 836 3792 +1 702 836 3796
RETAIL Garrett Connor George Connor Charles Connors Chris Connell Phillip Dunning Dan Gluhaich David Grant Scot Marker Eric Tumbleson Al Twainy
+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
Julie Bauman Scott Gragson Steven Haynes John Kilpatrick Pat McNaught Vince Schettler Mike Stuart Robert Torres
PROPERTY MANAGEMENT +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
Erica Aulino Brandy Dumas Jennifer Kennedy Gretchen Lee Jennifer Maximino Susan McMasters Jessie Noche Jessica Rothwell Angelina Scarcelli
+1 702 836 3777 +1 702 836 3713
STAFF
HOTEL/RESORT Mike Mixer Dharmesh Patel
INVESTMENT SERVICES Joe Bonifatto Brian Fike Robert Henn Jason Lesley Frank Marretti Bridget Richards Grant Traub
+1 702 836 3729 +1 702 836 3744 +1 702 836 3767 +1 702 836 3742 +1 702 836 3758 +1 702 836 3743 +1 702 836 3789
Nicole Cauilan Courtney Goffstein Alisa Husic Sara Johansson Gina Jones Scott Jun Laura Medina Matt Stater Elizabeth Valles
+1 702 836 3745 +1 702 836 3761 +1 702 836 3772 +1 702 836 3704 +1 702 836 3726 +1 702 836 3750 +1 702 836 3752 +1 702 836 3748 +1 702 836 3768
+1 702 836 3706 +1 702 836 3710 +1 702 836 3701 +1 702 836 3771 +1 702 836 3783 +1 702 836 3721 +1 702 836 3769 +1 702 836 3781 +1 702 836 3791
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
RECEIVERSHIP Christopher LoBello +1 702 836 3714
MEDICAL OFFICE Stacy Scheer
+1 702 836 3762
VALUATION SERVICES Tom Hoover
+1 702 836 3749
MARCH 2016 13
Accelerating success.
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
14 MARCH 2016