Commercial Real Estate 08-19-25

Credit: NRP Group

Sales Transactions

1. The NRP Group purchased a 7.8-acre site at the NEC of Maule Avenue and Gagnier Blvd. in Las Vegas for $17.1M. Newmark represented the buyer, which plans to develop a four-story, 390-unit residential community. Groundbreaking is expected in Q3 2025, with first occupancy expected in 2027.

2. A joint venture between Cypress West Partners and TPG Angelo Gordon purchased the MacFarlane Medical Centerat 8325 W. Warm Springs Road in Las Vegas. The three-story medical office facility is 39.3KSF and fully leased to seven tenants. The joint venture also picked up two other buildings in Arizona. Transaction details were not disclosed.

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Mark Hobaica

Mark Hobaica

Executive Vice President

Core Construction

Since 2019, as CORE Construction’s Executive Vice President for Nevada, Mark ensures every client CORE serves receives the highest level of personalized care for every project. Mark’s passion is client Trust. He cares deeply about CORE’s reputation, partnerships and providing the highest quality and services, as well as most honest and best value possible. He has worked in the Las Vegas Valley and for the Public Works sector for nearly 35 years. He began as an owner in a local architectural firm designing and overseeing projects for Public Works clients for nearly 12 years. He clearly understands the expectations of the public sector, as he then directed numerous projects for over 16 years as the City Architect for the City of Henderson. His focus has always been delivering projects using CMAR or Construction Manager at Risk as he has implemented dozens of projects with his trusted approach, while always involving every stakeholder to ensure each individual receives the highest level of services expected.