Sales Transactions
1. Data-center operator Switch recently purchased 179 acres in Apex Industrial Park in North Las Vegas for $85.5M. The company has yet to unveil its plans for the land.
2. The developers of Landing 36 sold the newly built, 308-unit apartment complex at 2555 N. Rancho Dr. in Las Vegas for $77M, according to property records. The buyer was an Indiana-based investment group affiliated with PCE Holdings, which said the total consideration was $79M. City records show developer Brock Metzka was behind the project and part of the development team that sold the nearly 12-acre property, which is located at Rancho Drive and Smoke Ranch Road across from North Las Vegas Airport and opened in phases beginning last spring.
3. The Element, a 206-unit apartment complex in Reno, recently sold to an undisclosed buyer for $41M. The seller, who was also undisclosed, was represented by Berkadia Nevada’s Jared Glover.
4. Durango Rochelle Center, a 21.5KSF retail strip center at 4226-4266 S. Durango Dr. in Las Vegas, has sold for $5.6M. Cushman & Wakefield arranged the sale of the Spring Valley property, which was sold by Durango Rochelle, LLC, to a private buyer. The center is located between West Flamingo Road and Tropicana Avenue.
5. Cushman & Wakefield arranged the $5.2M sale of a 4.2KSF retail property at 3891 W. Flamingo Road in Las Vegas. The single-tenant asset is fully leased to Wahoo’s. Cushman & Wakefield represented the seller. The property is located near I-15 and adjacent to multiple hotel and casino properties.
6. ArchCrest Commercial Partners represented the seller in the completed sale of 3705 Barron Way, a commercial property in Reno consisting of more than 18KSF across two buildings on two parcels totaling more than six acres. No transaction price was disclosed.
