Issuu on Google+

LAS VEGAS INSIDER | Novem ber 2 016

1


FACEBOOK.COM/COLLIERSLV

TWITTER.COM/COLLIERS_LV

TABLE OF CONTENTS: LAS VEGAS RESEARCH 3 TURKEY BOWL CHAMPS 4 FEATURED DEALS 5

NOVEMBER PERKS 6 LINKS FOR LIFE CONTRIBUTIONS 7 FEATURED LISTINGS 8

OFFICE HAPPENINGS 9–13 DIRECTORY 14

M I K E’ S Q U OTE O F TH E M O NTH

“THE BEST WAY TO TEACH YOUR KIDS ABOUT TAXES IS BY EATING 30% OF THEIR ICE CREAM.”

Bill Murray


LAS VEGAS RESEARCH

CHURNING

BURNING By John Stater, Researcher of the Year (so you know I’m right) Las Vegas is a weird place. A desert wasteland built next to a giant manmade lake with more hotel rooms than any other place on earth, but no ability to feed anyone without a highway system and airport that bring many tons of comestibles into the city every day. I’ve heard chefs tell me that the seafood in Vegas is as fresh as the seafood in Maine and Seattle because the massive demand for bacon-wrapped shrimp by tourists makes it so. Weird.

(Jan 2::5 = 1::)

12:.:

The Old Growth Rate

11:.:

1::.:

9:.:

8:.:

The New Growth Rate 7:.:

6:.: Jun 2:16

Oct 2:15

Feb 2:15

Jun 2:14

Oct 2:13

Feb 2:13

Jun 2:12

Oct 2:11

Feb 2:11

Jun 2:1:

Oct 2::9

Feb 2::9

Jun 2::8

Oct 2::7

Feb 2::7

Jun 2::6

Oct 2::5

Feb 2::5

Jun 2::4

Oct 2::3

Feb 2::3

Jun 2::2

Oct 2::1

Feb 2::1

Jun 2:::

Oct 1999

Feb 1999

Jun 1998

Oct 1997

Feb 1997

According to the numbers, Southern Nevada has shown plenty of spirit in 2016, posting index growth for six months straight between April and September (the most recent month of data), and with October looking as though it is poised to show growth as well. The last time we saw growth like this was in 2013, which also happens to have been the strongest year of economic recovery Southern Nevada had seen since the end of the Great Recession.

Colliers International

SOUTHERN NEVADA COMMERCIAL REAL ESTATE RECOVERY INDEX Southern Nevada Commercial Real Estate Recovery Index (JANUARY 2005 =100)

Jun 1996

It all boils down to one natural resource, sunny days. Sunny days make the resorts possible, and the resorts (and government money that doesn’t care about profits … no, not necessarily a good thing) make Las Vegas possible. It’s still the Wild West here, a 24-hour gold rush that churns out millionaires and paupers aplenty. At the moment, it looks like its churning out more millionaires and paupers. For proof (such as it is), let’s turn to the handy dandy Economic Recovery Index.

&

COMMERCIAL REAL ESTATE RECOVERY INDEX LAST 18 MONTHS (JANUARY 2005 =100)

Looking at the individual elements of the index, comparing September 2015 to September 2016, we see growth in seven of the eight areas. Growth was strongest in in-migration into Southern Nevada, which might be the most important measure of the local economy, given its aforementioned weirdness, next to visitor volume, which has also shown strong growth compared to 2015. Stronger migration into the area is driving growth in new home sales (which remain well below pre-recession levels unfortunately). Taxable sales continued to grow on a year-over-year basis, as did employment. Port traffic in Los Angeles is also growing. Growth is slower in commercial occupancy, but it remains positive. Only gaming revenue lags behind. Continued on page 4 LAS VEGAS INSIDER | Novem ber 2 016

3


2016 TURKEY BOWL CHAMPIONS

The boys running a play for a touchdown

The 2016 Turkey Bowl Champs

Suzette & Kara celebrating

Colliers success on and off the field

OUR BROKERS PLAYED IN THE 3RD ANNUAL BROKER TURKEY BOWL AT CHARLIE FRIAS PARK AND TOOK HOME THE CHAMPIONSHIP. We played the other brokerages in the Valley to steal the reigning title from Marcus and Millichap (who held the trophy for the last two years). Go Team!

LAS VEGAS RESEARCH

CHURNING

BURNING

&

Perhaps most importantly, when we compare current measures to the pre-Great Recession period, we see that five measures of the local economy are above, sometimes well above, those old figures. Gaming revenue, visitor volume, employment, taxable sales and port activity in L.A. are all better than they were in January 2005. Commercial occupancy is a breath away from recovery, while migration into the state, though improved, remains below 2005 levels, as does new home sales. Overall, the Recovery Index passed January 2005 in June 2016, and continues to grow. Eleven years to recover is nothing to brag about, but thank God it is finished. If there is a black lining to this silver cloud, I cannot find it at the moment. Development still appears to be reasonable in the Valley, and the Trumpocalypse predicted by some folks after his surprise win in the presidential election has not yet manifested itself, if indeed it ever will. The possibility of national or global recession still remain, of course, but for now we can sit back and enjoy the holidays.

RECOVERY INDEX (YEAR-OVER-YEAR)


FEATURED DEALS

INDUSTRIAL SALE

INDUSTRIAL LEASE

±273,301 SQUARE FOOT INDUSTRIAL PROPERTY A sale to Harsch Investment Properties, LLC. The ±273,301 square foot office/industrial property is called Bigfoot Business Park and is located at 6325-6375 South Pecos Road in Las Vegas. The transaction amount was $11,700,000.00. Suzette LaGrange and Kara Walker, CCIM of Colliers International represented the seller, MJG Investments Fund, LLC.

±93,967 SQUARE FOOT AUTOMOTIVE PROPERTY A lease to Fabrication Technologies, Inc. The ±93,967 square foot industrial property is located in Eldorado Business Park at 7445 South Dean Martin Drive in Las Vegas. Dean Willmore, SIOR of Colliers International represented both the landlord, TLF Logistics II Eldorado Business Center, and the tenant.

LAND SALE

MEDICAL OFFICE SALE

±61.06 ACRE VACANT LAND PARCEL A sale to PHI Donovan Land, LLC. The ±61.06 acre vacant land parcel is located at I-15 and Lamb Boulevard in North Las Vegas (APNs: 123-31-602-003, 123-30-801-004 and 123-31-502001). The transaction amount was $15,970,185.00. Mike Stuart and Mike Mixer, SIOR of Colliers International represented the seller, RPM Investments as QI for TOMO JD, LLC.

±43,580 SQUARE FOOT MEDICAL OFFICE PROPERTY A sale to LUEMI B, LLC. The ±43,580 square foot medical office property is located in United Healthcare Campus at 2724 North Tenaya Way in Las Vegas. The transaction amount was $4,550,000.00. Stacy Scheer, CCIM, LEED GA of Colliers International represented the seller, WFO REO 2015-92, LLC.

OFFICE LEASE ±6,411 SQUARE FOOT OFFICE PROPERTY A lease to Openedge. The ±6,411 square foot office property is located at 250 Pilot Road, Suite 280 in Las Vegas. Ryan Martin, CCIM, SIOR, Taber Thill, SIOR and Patti Dillon of Colliers International represented the landlord Hughes Airport Center, LLC.

LAS VEGAS INSIDER | Novem ber 2 016

5


NOVEMBER PERK THANKSGIVING POTLUCK On November 16th, the office was treated to an abundant Thanksgiving feast…thank you to all the “chefs” in our office who contributed their favorite recipes.

TAG 2016

This year’s 13th annual TAG conference was a great success…we had a record 190 people in attendance. We hope to see you all next year!

Photo by Andrew Kilduff

2016 Special thanks to Scott Gragson, John Kilpatrick, Robert Torres and the entire GKT Team! Our annual “Staff Appreciation Day” on November 8th was super fun and greatly appreciated!


LINKS FOR LIFE

F O U N D A T I O N

RECENT CHARITABLE CONTRIBUTIONS STRONGARM FOUNDATION

Provides youths in our community with opportunities to participate in activities that will unleash their talents and better yet, they just get to play and enjoy their childhood. Our donation will support after school activities including arts, recreational and multicultural events for these children.

HOPELINK

Their mission is to build a better community by preventing homelessness, keeping families intact and promoting selfsufficiency. Now in its 25th year, Hopelink provides community resources, food pantries, backpack programs, holiday gift assistance and other support services to children and families throughout Southern Nevada.

DOWN SYNDROME ORGANIZATION OF SOUTHERN NEVADA

Hosted their annual Festival of Trees event at the South Point Hotel and Casino on December 18th. Our $2500 donation provided supplies to create two miraculous tree displays that were auctioned for nearly $4000. These funds will provide services and medical care to children effected by Down Syndrome in our valley and will offer relief to their families that are always giving so much to the community.

LINKS FOR LIFE FOUNDATION

3960 Howard Hughes Parkway, Suite 150, Las Vegas, Nevada, USA 89169 TEL: +1 702 735 5700 www.linksforlifefoundation.org/nevada

LAS VEGAS INSIDER | Novem ber 2 016

7


FEATURED LISTINGS

6230 SOUTH DECATUR BOULEVARD

347 WEST SUNSET ROAD

ERIC MOLFETTA, CCIM AND CHRIS ZUNIS

DAN DOHERTY, SIOR, CHRIS LANE AND JERRY DOTY

±20,000 square foot retail building for sale (Halloween Mart)

Retail: ±7,000 SF, Second Story Office: ±3,000 SF,

±32.63 acres of vacant land for sale (prime industrial development site)

Warehouse: ±10,000 SF

Curb and Gutter improvements along Sunset Road

LED Lighting, Fully Sprinklered, 5 Grade Doors, 22ft Clear Height

Asking $8,172,836.10 ($5.75 psf)

3555 EAST LAKE MEAD BOULEVARD

HIGHLAND INDUSTRIAL CENTER

CHRISTOPHER BENTLEY

CHRIS CONNELL AND GRANT TRAUB

±184 Units – Mix of 2 and 3 Bedrooms

±238,935SF Professionally Managed Industrial Park

Amenities include: Clubhouse, two pools, picnic area,

Rates Starting at $0.45 PSF/Month NNN

children’s play area, basketball court and laundry facilities •

Accepting Offers

(CAMs at $0.14 PSF/Month) •

Vacant Units are turn-key and available for immediate occupancy

THE SQUARE

DECATUR BELL COMMERCE CENTER

CHRIS CONNELL, BRIAN RIFFEL AND TYLER JONES

DEAN WILLMORE, SIOR, MIKE DELEW, SIOR AND GREG PANCIROV, SIOR

22 Two-Story Office Units Totaling ±36,722SF

Ideal for Accounting, Architectural, Insurance and Technology Firms

Open Floor Plans with Finished Loft (Turn Key Finished Units)

±2,131 SF Suite Available – Move In Ready

Decatur Frontage with 16’ Clear Height, Sprinklers and Fluorescent Lighting

120/208v, 3Phase Power and Natural Gas


OFFICE HAPPENINGS

CONGRATULATIONS PROPERTY MANAGEMENT Our Property Management division swept the IREM Awards with the AMO Firm of the Year Award (Huge Accomplishment) and Angelina Scarcelli, CPM took home the CPM of the Year Award and IREM’s Committee Chair of the Year Award!

IN THE NEWS REMINGTON NEVADA BUILDS MOUNTAINS EDGE MARKETPLACE http://m.businesspress.vegas/real-estate/ remington-nevada-builds-mountains-edgemarketplace

INDUSTRY FOCUS: COMMERCIAL REAL ESTATE BROKERS - MIKE MIXER, COLLIERS INTERNATIONAL http://www.nevadabusiness.com/2016/11/ industry-focus-commercial-real-estatebrokers/

CALL CENTER INDUSTRY FLOURISHING IN NEVADA http://www.reviewjournal.com/business/callcenter-industry-flourishing-nevada

The Office Will Be Closed December 23 & 26 January 2

LAS VEGAS INSIDER | Novem ber 2 016

9


OFFICE HAPPENINGS

CONGRATULATIONS: TEDDIE HICKEY We are proud to announce the promotion of Teddie Hickey to Associate. Teddie was previously an administrative assistant to the office team of Senior Vice Presidents Ryan Martin, CCIM, SIOR, Taber Thill, SIOR and Patti Dillon. As Associate broker, Teddie will assist the team with office real estate transactions. 

 Patti Dillon, says of her accomplishment, “We are proud to have Teddie on our team and we are looking forward to her continued success in the years to come!” 

 Teddie lives in the southwest valley with her sweet Doberman Mayzee and in her spare time enjoys camping, hiking, traveling, teaching and practicing yoga and spending time with friends. Congratulations, Teddie!

UPCOMING EVENTS CREW LUNCHEON 11:30am Las Vegas Country Club DECEMBER 1 SIOR HOLIDAY AWARDS 6:00pm Cili at Bali Hai DECEMBER 1 NAIOP HOLIDAY LUNCHEON 11:30am Four Seasons DECEMBER 7 COLLIERS HOLIDAY PARTY 2:00pm TopGolf DECEMBER 9

USGBC BREAKFAST MEETING 7:00am inNEVation Center DECEMBER 13

MONTHLY INDUSTRIAL MEETING 9:00am Main Conference Room DECEMBER 15

MONTHLY RETAIL MEETING 8:30am Main Conference Room DECEMBER 13

CCIM HOLIDAY LUNCH 11:30am Four Seasons DECEMBER 15

COMMCAP ADVISORS ANNUAL COOKIE BAR Parking Lot at 3960 Howard Hughes Parkway DECEMBER 13 HOLIDAY ANGEL SHOPPING SPREE 6:00PM Walmart @ Arroyo DECEMBER 13

MONTHLY BIRTHDAY CELEBRATION 2:30pm Main Conference Room DECEMBER 22 HAPPY HOLIDAYS OFFICE CLOSED DECEMBER 23 & 26 HAPPY NEW YEAR OFFICE CLOSED JANUARY 2


CONGRATULATIONS AND WELCOME ABOARD

2016 SALES AWARD TRIP March 17–21, 2017 // Mauna Kea Beach Hotel, Big Island, Hawaii

PLANE

Mike Mixer Mike Stuart Scott Gragson Dan Doherty Mike DeLew Tom Naseef

Susan Borst Pat Marsh Taber Thill Ryan Martin Spencer Pinter Dean Willmore

Patti Dillon Chris Connell Grant Traub Scot Marker David Grant

Al Twainy Eric Molfetta Greg Pancirov* Dan Gluhaich* Vince Schettler*

*These brokers qualified for the plane in October

BROKER RANKINGS YTD 2016 1. Dan Doherty

13. Taber Thill

25. Brian Riffel

37. Pat McNaught

2. Mike Delew

14. Scot Marker

26. Suzette Lagrange

38. Joe Bonifatto

3. Scott Gragson

15. Grant Traub

27. Kara Walker

39. Chris Lobello

4. Mike Mixer

16. Chris Connell

28. Robert Torres

40. George Connor

5. Mike Stuart

17. Patti Dillon

29. Chris Lane

41. Steven Neiger

6. Pat Marsh

18. Eric Molfetta

30. Phillip Dunning

42. Brett Rather

7. Dean Willmore

19. Al Twainy

31. Renae Russo

43. Frank Marretti

8. Susan Borst

20. Greg Pancirov

32. Andrew Kilduff

44. Thomas Olivetti

9. Spencer Pinter

21. Vince Schettler

33. Keith Cubba

45. Eric Tumbleson

10. Tom Naseef

22. Dan Gluhaich

34. Steve Haynes

46. John Kilpatrick

11. David Grant

23. Garry Cuff

35. Chris Clifford

12. Ryan Martin

24. Stacy Scheer

36. Rebecca Staniec

LAS VEGAS INSIDER | N ovem ber 2 016

11


OFFICE HAPPENINGS

VEGAS THE NUMBERS: OFFICE $154,423 7%

OTHER $23,528 1%

LEASE 30%

INDUSTRIAL $1,047,006 45%

RETAIL $140,391 6%

OCTOBER SALES VS. LEASE

OCTOBER PROPERTY TYPES

LAND $958,456 41%

SALES 70%

TOP 10 AGENTS OF THE MONTH OCTOBER 2016 1. Mike Stuart

6. Vince Schettler

2. Mike Mixer

7. Scott Gragson

3. Mike DeLew

8. Spencer Pinter

4. Dan Doherty

9. Susan Borst

5. Dean Willmore

10. Chris Clifford

74

DESCRIPTION

Office Revenue

OCTOBER ACTUAL

OCTOBER BUDGET

% OCTOBER BUDGET

% YTD BUDGET

$2,323,804

$1,482,817

157%

102%

OCTOBER OFFICE TRANSACTIONS

OCTOBER 2016 ANNIVERSARIES Scott Gragson

1997

19 Years

Marge Ruderman

2001

15 Years

Scott Larsen

2005

11 Years

Chris Lobello

2007

9 Years

Vince Schettler

2012

4 Years

Nicol Montalto

2012

4 Years

Anthony Schettler

2014

2 Years

Amelia Hyden

2015

1 Year

85/15 CLUB Mike Mixer Mike Stuart Scott Gragson Dan Doherty Mike DeLew Tom Naseef Taber Thill Ryan Martin Garry Cuff Pat Marsh Susan Borst Spencer Pinter Dean Willmore

Patti Dillon Dan Gluhaich Stacy Scheer David Grant Scot Marker Grant Traub Chris Connell Al Twainy Greg Pancirov Brian Riffel Eric Molfetta Vince Schettler

NEVADA Coldest Day: 8°F January 13th, 1963


1

BROKER OF THE MONTH

CO NG RA T UL A T IO NS LAUREN GEORGE Administrative Assistant Industrial Division

MIKE STUART

Executive Vice President Land Division

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 Year 2009, 2010, 2011, 2013 & 2014. 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 2010-2014. Michael’s focus is on residential, commercial and multi-family land. Clients include: Angelo, Gordon & Co, Hillwood Residential, City National Bank, Olympia Companies, KB HOME and Ridgewood Properties.

Q

If you could have any super power what would it be and why?

A

The power to read minds of only little people.

Q A

If you could impress a celebrity chef, what dish would you cook?

Lauren’s primary role is to provide administrative support to the Industrial team of Mike DeLew, SIOR and Greg Pancirov, SIOR. Prior to joining Colliers Las Vegas, Lauren spent over two years as a Marketing Assistant for Chicago Title. During that time she cultivated many strong relationships within the Las Vegas Real Estate Community.

Q

What is one of the things you have on your “bucket” list?

A

Denver Broncos Home Game

Q

What is your favorite summer activity?

A

My favorite summer activity is going to the lake & camping.

Q

What is a nickname you took on at some point in your life?

A

Well I’ve taken on many, but the most used are LG & Lo.

Poularde de bresse en vessie

A prepared chicken is stuffed with foie gras, truffles, and other flavorings, then enclosed in the bladder and poached in chicken broth.

Q

If you could hear what someone is thinking for a day, who would you choose?

A

God or the Devil. I want to hear both sides.

Q

If you had to pick one current hit song to play continuously, non-stop in the background of your everyday life, what song would it be?

A

Chacarron Macarron by La Yanta

LAS VEGAS INSIDER | N ovem ber 2 016

13


LAS VEGAS PHONE DIRECTORY LAND

INDUSTRIAL Susan Borst Mike DeLew Dan Doherty Jerry Doty Tyler Jones Suzette LaGrange Chris Lane Pat Marsh Eric Molfetta Sam Newman Greg Pancirov Spencer Pinter Brian Riffel Renae Russo Alexander Stanisic 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 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 3742 +1 702 836 3705 +1 702 836 3763 +1 702 836 3703

Scott Gragson Steven Haynes John Kilpatrick Pat McNaught Vince Schettler Mike Stuart Robert Torres

+1 702 836 3790 +1 702 836 3718 +1 702 836 3780 +1 702 836 3792 +1 702 836 3796

GOLF COURSE

OFFICE Patti Dillon Andrew Kilduff Ryan Martin Rebecca Staniec Taber Thill

RETAIL Chris Clifford Garrett Connor George Connor Chris Connell Phillip Dunning Dan Gluhaich David Grant Amelia Hyden Scot Marker Steve Neiger Brett Rather Eric Tumbleson Al Twainy

+1 702 836 3746 +1 702 836 3738 +1 702 836 3786 +1 702 836 3709 +1 702 836 3766 +1 702 836 3757 +1 702 836 3785 +1 702 836 3774 +1 702 836 3782 +1 702 836 3760 +1 702 836 3794 +1 702 836 3708 +1 702 836 3725

+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 Dharmesh Patel

+1 702 836 3777 +1 702 836 3713

INVESTMENT SERVICES Joe Bonifatto Brian Fike Frank Marretti Tom Naseef Grant Traub

Keith Cubba

+1 702 836 3729 +1 702 836 3744 +1 702 836 3758 +1 702 836 3720 +1 702 836 3789

+1 702 836 3733

MEDICAL OFFICE Stacy Scheer

+1 702 836 3762

VALUATION SERVICES Tom Hoover

+1 702 836 3749

PROPERTY MANAGEMENT Erica Aulino Brandy Dumas Jennifer Kennedy Gretchen Lee Jennifer Maximino Jessie Noche Angelina Scarcelli

+1 702 836 3745 +1 702 836 3761 +1 702 836 3772 +1 702 836 3704 +1 702 836 3726 +1 702 836 3752 +1 702 836 3768

STAFF Nicole Cauilan Courtney Goffstein Alisa Husic Sara Johansson Gina Jones Matt Stater Chris Sutton

+1 702 836 3706 +1 702 836 3710 +1 702 836 3701 +1 702 836 3771 +1 702 836 3783 +1 702 836 3781 +1 702 836 3721

MULTI-FAMILY Christopher Bentley Garry Cuff Jeff Naseef Tom Naseef Thomas Olivetti

+1 702 836 3779 +1 702 836 3716 +1 702 836 3731 +1 702 836 3720 +1 702 836 3740

RECEIVERSHIP Christopher LoBello

+1 702 836 3714

MIKE MIXER

Executive Managing Director | Las Vegas

+1 702 735 5700


Las Vegas Insider | November 2016