Commercial Real Estate
Sales Transactions
1. Lakeridge Apartments and units from Lakeridge Livingin south Reno were purchased for a total of $93.7M in two separate transactions. The first transaction was $62.7M, while the second was $31M. Each transaction involved a different seller. Plumas Street Partners LLC sold the $62.7M portion, while an LLC connected to Benedict Canyon Equities sold the $31M portion. The new owner is registered as MG Lakeridge Living Apartments LLC, which is connected to MG Properties.
2. A private investor from California purchased the Cartier Industrial Centerat 2635 Lamb Blvd. in North Las Vegas for $17.3M. The seller was a local development group. The 74.7KSF property was built in 2024 and is fully occupied by a beauty supply company. Avison Young’s Chris Lexis, James Griffis and Joe Leavitt represented the buyer.
Lease Transactions
3. BLVD, an upcoming 400KSF retail, dining and entertainment center at 3755 S. Las Vegas Blvd. in Las Vegas, announced it secured multiple leases. JD Sports secured a two-story lease consisting of 20KSF of space. Lululemon leased a 9.8KSF space immediately next door to Abercrombie & Fitch, which secured an 8KSF lease. Pandora leased 3KSF. JLL oversees leasing the property. Retailers are expected to open to the public early this year.
