Accelerating success.
November 2014
Las Vegas Insider A communication for brokers, employees, colleagues and friends
“Try not to become a person of success, but rather try to become a person of value.” –Albert Einstein
TABLE OF CONTENTS
> BOUNCING AMONG THE BUBBLES
> 3 BROKER OF THE MONTH
11
> FEATURED DEALS 5 > WELCOME TO COLLIERS
12
> NEW LISTINGS & IN THE NEWS
13
> 7 HOLIDAY EVENTS
> UPCOMING EVENTS 8
> COLLIERS HOLIDAY PARTY
> BROKER RANKINGS 9 > COMPANY DIRECTORY > BY THE NUMBERS
10
> COLLIERS UNIVERSITY
14 15
16
STAY CONNECTED WITH COLLIERS LAS VEGAS facebook.com/lvcolliers
twitter.com/Colliers_LV
TABLE OF CONTENTS
2
Bouncing Among the Bubbles BY: JOHN “MATT” STATER
3
BOUNCING AMONG THE BUBBLES
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 goings-on 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 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 intel 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 Janet Yellen seems determined to keep things loose in the U.S. of A., but Fed chair-people don’t often serve for long these days, so there’s always the possibility that three years from now, our own central bank may start tightening things back up (then again, maybe not – we should be overdue for a cyclical recession right about then).
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.
BOUNCING AMONG THE BUBBLES
4
FEATURED DEALS TOM NASEEF AND JEFF NASEEF COMPLETE 18,850 SF INDUSTRIAL $900,000 SALE
A sale to Golden Wellness, LLC. The ±18,850-square-foot industrial property is located at 3443 Neeham in North Las Vegas. The transaction amount was $900,000.00. Tom Naseef CCIM SIOR and Jeff Naseef of Colliers International represented the seller, Lukas Building 18, LLC. STACY SHEER COMPLETES 6,195 SF OFFICE DEAL A sale to NEVDPSS Holdings, LLC. The ±6,195-square-foot office property is located at 4001 Meadows Lane in Las Vegas. The transaction amount was $630,000.00. Stacy Scheer, CCIM of Colliers International represented the seller, ANKALOVIC, Inc. BRIDGET RICHARDS AND JASON LESLEY COMPLETE 5,126 SF OFFICE DEAL A sale to Hospitality Partners, LLC. The ±5,126-square-foot office property is located at 3632 Sunset Road in Las Vegas. The transaction amount was $400,000.00. Bridget Richards CCIM and Jason Lesley CCIM of Colliers International represented the seller, Sunset Pecos II, LLC. DOHERTY, BORST, LANE, AND DOTY COMPLETE 13,330 SF INDUSTRIAL DEAL A lease to Elite Relocations, LLC. The ±13,330-square-foot industrial property is located at 4320 North Lamb Blvd in Las Vegas. Dan Doherty SIOR, Susan Borst CCIM, Chris Lane, and Jerry Doty of Colliers International represented the landlord, Roberts Ranch Venture, LP. 5
FEATURED DEALS
GREG PANCIROV AND MIKE DELEW COMPLETE 6,000 SF INDUSTRIAL DEAL A lease to VivoPools, LLC. The ±6,000-square-foot industrial property is located at 6019 McLeod Drive in Las Vegas. The transaction amount was $119,832.00. Greg Pancirov SIOR and Mike De Lew SIOR of Colliers International represented the landlord, SFC Leasing, LP. DOHERTY, BORST, LANE, AND DOTY COMPLETE 21,840 SF INDUSTRIAL DEAL A lease to Concrete Accessories of Georgia. The ±21,840-square-foot industrial property is located at 4200 Flossmoor Street in Las Vegas. Dan Doherty SIOR, Susan Borst CCIM, Chris Lane, and Jerry Doty of Colliers International represented the landlord, GMM Village NLV Property, LLC. RENAE RUSSO COMPLETES 5,051 SF INDUSTRIAL DEAL A lease to World Sports Solutions International, Inc. The ±5,051-squarefoot industrial property is located at 3095 East Patrick Lane, Suite 16 in Las Vegas. Renae E. Russo KP of Colliers International represented the tenant. THILL, MARTIN, AND DILLION COMPLETE 10,968 SF OFFICE DEAL A lease to SWCA Environmental Consultants. The ±10,968-square-foot office property is located at 7210 Placid Street in Las Vegas. Taber Thill SIOR, Ryan Martin SIOR CCIM, and Patti Dillon of Colliers International represented the tenant. CHRIS CONNELL COMPLETES 3,042 SF OFFICE DEAL A lease to Merrimack Knife and Tool, LLC. The ±3,042-square-foot office property is located at 3068 East Sunset Road, Unit 14 in Las Vegas. The transaction amount was $44,991.18. Chris Connell of Colliers International represented the landlord, GD&F Group, LLC. DAVID GRANT COMPLETES 1,490 SF RETAIL DEAL A lease to HB, LLC dba Vegas Direct Flooring. The ±1,490-square-foot retail property is located at 7415 S. Durango Drive, Suite 108 in Las Vegas. David A. Grant of Colliers International represented the landlord, Bayport Town Center Associates, LLC. FEATURED DEALS
6
NEW LISTINGS CHRIS CONNELL 1050 East Flamingo Road | Las Vegas, NV • • • •
OFFICE
•
• • • •
• • • •
INDUSTRIAL
Hualapai and 215 +/-5 Acre Commercial Parcel Adjacent parcel also available for a total of 10 Gross Acres Communities surround
MEDICAL OFFICE STACY SCHEER & ANDREW KILDUFF 2850 West Horizon Ridge Parkway | Henderson, NV
For Lease or Sale One constructed +/-11,329 RSF two-story multitenant building Two proposed +/- 11,000 – 15,000 RSF multi-tenant
DEAN WILLMORE 4350 Production Court | North Las Vegas, NV
LAND
VINCE SCHETTLER Deer Springs and Hualapai | Las Vegas, NV
Lease Rates starting at $1.20 PSF FSG 5%Commission FSG Turn-key Suites for IMMEDIATE Occupancy from ±436 to ±12,155 RSF
DILLON, MARTIN, & THILL 1170 East Sunset Road | Henderson, NV • •
OFFICE
• • • •
For lease Office & Medical Total 101,278 SF Large contiguous space available
RENAE RUSSO 3993 Howard Hughes, Suite 470 | Las Vegas, NV
+/- 7,000 SF Industrial Building on 0.62 Acres +/-6,300 Warehouse Space +/- 900 Office Space Two (2) Restrooms
• • • •
OFFICE
Hughes Center - Sublease Opportunity Three Offices, Conference Room & Break/Copy Room + 1,871 SF * $2.85/RSF
COLLIERS IN THE NEWS Las Vegas Business Press - 11/10/2014 “With building uptick, county again outsources permitting”
http://www.reviewjournal.com/business/business-press/building-uptick-county-again-outsources-permitting
PR Newswire - 11/4/2014 “Colliers International’s 2015 Global Investor Sentiment Survey Conveys Continued Optimism In U.S. Commercial Real Estate Investment” http://www.prnewswire.com/news-releases/colliers-internationals-2015-global-investor-sentiment-survey-conveys-continued-optimism-in-us-commercial-real-estate-investment-281453751.html
Power Broker Confidential - 10/12/2014 “Industrial Market Gains Momentum in Third Quarter”
http://powerbrokerconfidential.com/industrial-market-gains-momentum-third-quarter/
7
NEW LISTINGS & IN THE NEWS
Mike’s Quote of the Month:
“Make way for the positive day.” – Bob Marley
UPCOMING NOVEMBER & DECEMBER EVENTS NOVEMBER 20 | NAIOP BREAKFAST MEETING The Orleans | 7:30 am NOVEMBER 20 | COLLIERS THANKSGIVING FEAST Main Conference Room | 11:30 am NOVEMBER 27 | OFFICE CLOSED FOR THANKSGIVING
NOVEMBER 27TH & 28TH THANKSGIVING - OFFICE CLOSED
NOVEMBER 28 | OFFICE CLOSED FOR THANKSGIVING
DECEMBER 9TH
DECEMBER 3 | PHOTOGRAPHY LUNCH & LEARN Main Conference Room | 11:30 am
MONTHLY RETAIL MEETING
DECEMBER 9 | MONTHLY RETAIL DIVISION MEETING Main Conference Room | 9:00 am
DECEMBER 10TH
DECEMBER 10 | MONTHLY OFFICE DIVISION MEETING Main Conference Room | 9:30 am
MONTHLY OFFICE MEETING
DECEMBER 11 | CREW LUNCHEON Ferraro’s | 11:30 am
DECEMBER 12TH
DECEMBER 12 | COLLIERS HOLIDAY PARTY The Sayers Club at SLS Hotel | 6:30 pm DECEMBER 17 | MONTHLY INDUSTRIAL DIVISION MEETING Main Conference Room | 9:00 am DECEMBER 25 | OFFICE CLOSED FOR CHRISTMAS
COLLIERS HOLIDAY PARTY
DECEMBER 17TH
DECEMBER 26 | OFFICE CLOSED FOR CHRISTMAS
MONTHLY INDUSTRIAL MEETING
DECEMBER 31 | MONTHLY OFFICE DIVISION MEETING Main Conference Room | 9:30 am
DECEMBER 25TH & 26TH
JANUARY 1 | OFFICE CLOSED FOR NEW YEARS
CHRISTMAS - OFFICE CLOSED
JANUARY 2 | OFFICE CLOSED FOR NEW YEARS
JANUARY 1ST & 2ND NEW YEARS - OFFICE CLOSED UPCOMING EVENTS
8
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
BROKER RANKINGS - YEAR TO DATE: 2014 1. MIKE STUART 2. SCOTT GRAGSON 3. DAN DOHERTY 4. MIKE DELEW 5. SPENCER PINTER 6. DEAN WILLMORE 7. PAT MARSH 8. DAN GLUHAICH 9. BRIAN RIFFEL 10. RYAN MARTIN 11. DAVID GRANT 12. TABER THILL 13. CHRIS CONNELL 14. PATTI DILLON 15. BRIDGET RICHARDS 16. JASON LESLEY 17. GARRY CUFF 9
BROKER RANKINGS
18. KEITH CUBBA 19. MIKE MIXER 20. ERIC MOLFETTA 21. ANDREW KILDUFF 22. ROBERT TORRES 23. GRANT TRAUB 24. SUSAN BORST 25. STACY SCHEER 26. ERIC TUMBLESON 27. PHILLIP DUNNING 28. TOM STILLEY 29. LIZZ STILLEY 30. GREG PANCIROV 31. SCOT MARKER 32. DAVE FREAR 33. JOE BONIFATTO 34. CHRIS LANE
35. REBECCA STANIEC 36. AL TWAINY 37. TOM NASEEF 38. RENAE RUSSO 39. VINCE SCHETTLER 40. FRANK MARRETTI 41. CHRIS LOBELLO 42. SUZETTE LAGRANGE 43. JOSH SMITH 44. SAM NEWMAN 45. ANGELA BATES 46. GEORGE CONNOR 47. PAT MCNAUGHT 48. JULIE BAUMAN 49. CHARLES CONNORS 50. JOHN KILPATRICK
BY THE NUMBERS - OCTOBER 2014 LAS VEGAS - OCTOBER 2014 RESULTS PROPERTY TYPES
OCTOBER SALES REVENUE vs LEASE REVENUE
SALES: $854,139
LEASE: $519,976
64 DEALS IN OCTOBER TOP 10 AGENTS: OCTOBER 2014
ANNIVERSARIES: OCTOBER 2014 1. 2. 3. 4. 5. 6. 7.
SCOTT GRAGSON MARGE RUDERMAN SCOTT LARSEN CHRIS LOBELLO NICOL MONTALTO VINCE SCHETTLER JORGE NUNGARAY
1997 2001 2005 2007 2012 2012 2013
17 YEARS 13 YEARS 9 YEARS 7 YEARS 2 YEARS 2 YEARS 1 YEAR
1. MIKE STUART
6. SPENCER PINTER
2. DAN DOHERTY
7. PATTI DILLON
3. TABER THILL
8. PAT MARSH
4. RYAN MARTIN
9. STACY SCHEER
5. SUSAN BORST
10. TOM NASEEF
BY THE NUMBERS
10
BROKER OF THE MONTH - OCTOBER 2014 On a typical weekend night, where might we find you? At home with my family or on Tinder. What’s the best thing you have ever eaten & where? Not my wife’s cooking. She can burn water. How do you unplug after a busy day? Usually honing my taekwondo skills at my local dojo or playing the banjo. Tell us something people don’t know about you? My family almost moved to Saudi Arabia for my father’s work.
PROFILE
MIKE STUART EXECUTIVE VICE PRESIDENT LAND DIVISION Colliers Las Vegas
Michael was a founding broker with Stuart Mixer Commercial, which became Colliers International in 1997. With more than 23 years of experience in all aspects of land assemblage and sales, Michael has been a top producer with over $1 billion dollars in sales and was the Colliers Broker of the Years 2009 – 2011 & 2013. In 2013 alone, Michael had over $125 million in sales and received Colliers Everest Award for Top Land Broker in the United States in years 2010-2013. Michael’s focus is on residential, commercial and multifamily land. Clients include: Angelo, Gordon & Co, Hillwood Residential, City National Bank, Olympia Companies, KB HOME and Ridgewood Properties.
CONGRATULATIONS MIKE!
ICEBREAKER - INTERESTING TIDBITS FROM PEOPLE YOU WORK WITH What books on your shelf are begging to be read? VW Bus service manuals. What is your favorite quote? “Mess with the bull and you get the horn.” - Richard Vernon What’s the best advice someone has given you? Never spit into the wind. Where is your favorite local place to take an out-of-town guest? Fremont Street. People watching galore! What do you enjoy doing when you’re not working? Hanging out with my family or skateboarding.
11
BROKER OF THE MONTH
Scott Jun Senior Graphic Designer
WELCOME TO COLLIERS! CHARLES CONNORS | Vice President Charles Connors joins the Colliers Las Vegas team as Vice President. As a Retail Investment & Land Specialist he exclusively represents buyers, sellers, tenants and developers of netleased investments, retail and various land development/redevelopment related properties throughout the United States. Mr. Connors has more than 17 years of experience in the real estate industry and has closed a multitude of investment and development real estate transactions across the United States during his career. He was instrumental during 20122013 in the acquisition and disposition of numerous parcels and various property types located in the East Fremont Street District in Downtown Las Vegas which is now wholly part of the Downtown Project’s real estate holdings for their ongoing redevelopment project. Charles is versed in all types of real estate and has experience in 1031 exchanges as well as bank owned special asset type properties.
ANTHONY SCHETTLER | Administrative Assistant As Administrative Assistant, Anthony will be providing day-to-day operational support for his father Vincent Schettler in the Land Division. Anthony was born and raised in Las Vegas, Nevada. He currently attends the University of Phoenix for a Bachelor of Science degree in Information Technology and is majoring in Computer Programming. He also owns a small business that provides resale services for IT hardware, software, and telecom as well as support for home users and small IT systems.
GKT ANNUAL “STAFF APPRECIATION DAY” THANK YOU.... Scott Gragon, John Kilpatrick, Robert Torres, and the entire GKT Team! Our annual “Staff Appreciation Day” on November 12th was a ton of fun and greatly appreciated! WELCOME TO COLLIERS & THANK YOU GKT
12
HALLOWEEN PUMPKIN CARVING CONTEST Most Unique
Gina Jones
Highest Level of Difficulty
Scott Jun
People’s Choice
Natalie Hufford
Thank you to everyone who participated in our first annual Pumpkin Carving Contest! Everyone’s designs were unique and very creative! The votes were close; congratulaitons to the winners.
Jessie Noche
Chelsy Cardin
THANKSGIVING FEAST
13
HOLIDAY HAPPENINGS
Gina Jones
Lisa Cheplak
Scott Jun
Sara Johansson
Natalie Hufford
COLLIERS HOLIDAY PARTY - MARK YOUR CALENDAR!
COLLIERS HOLIDAY PARTY
14
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
PHOTOGRAPHY & MARKETING LUNCH & LEARN Wednesday, December 3 from 11:30am to 12:30pm Learn how to photograph your property using our NEW camera, get tips for making your photos look professional, and tricks to successfully market your listings.
November 25, 2014 Lessons from LEED for Property Managers – The Importance of Documentation in Delivering Quality Service Instructors: Michael Smithing Session: 5:00pm - 6:00pm Registration: Open Enrollment December 2, 2014 LEED for Project Managers Instructors: Michael Smithing Session: 5:00pm - 6:00pm Registration: Open Enrollment December 3, 2014 Presentations 50/50 – Property Management Instructors: Mike Lipsey Session: 9:00am - 10:00am Registration: Open Enrollment
“Our only sustainable competitive advantage is our ability to learn faster than the competition.” - Craig Robbins,
Chief Knowledge Officer
December 11, 2014 Simple Sound Solutions Live Instructors: Nancy Morris Session: 10:00am - 11:00am Registration: Open Enrollment
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
16
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