Las Vegas, Nevada, May 16, 2019 —Cushman & Wakefield (CW) Las Vegas announced today the agency/leasing assignments of office product assets from three, out-of-state investors with first-time entrance into the Southern Nevada market.
CW Las Vegas Senior Directors, Charles Van Geel and Jayne Cayton, along with Senior Associate, Matthew Kreft, will oversee the listing activities, on behalf of Hertz Investments, Royal Investors Group, and JMA Ventures, all California-based groups.
“The long recovery in this market is mostly behind us, and we’re seeing the growth attracting out-of-state buyers and outside groups like never before, bringing much needed diversity into the market,” says Van Geel, a 20-year Nevada-based commercial real estate veteran. “It’s a good time for owners to assess their strategic positions in the market.”
Hertz Investments entered the market with the purchase of Cheyenne Corporate Center — a 324,000- square-foot, 10-building project situated in the northwest submarket of Las Vegas. The center, made up of office and retail product, can accommodate data centers, as well as medical uses.
“We are excited to be working with Cushman & Wakefield on marketing and leasing out our suites,” says Sarah Gordon, Vice President, Hertz Investments. “Jayne, Matt, and Charles are dynamic team players. I can see that they are investing lots of great energy and talent into our project. With Cushman & Wakefield on board, the Hertz Group anticipates success.”
Green Valley Corporate Center and Green Valley Corporate Center South are within proximity of each other in the Henderson area, each on either side of the freeway. The premier single- and multi- story office projects were purchased by JMA Ventures as the group’s entrance into the Southern Nevada market.
“We look forward to working with the Cushman & Wakefield team on additional opportunities in the future,” says Paul Faries, Partner, JMA Ventures. “JMA remains bullish on Southern Nevada due to its favorable tax and business environment, as well as the high quality of life offered to residents. The Las Vegas region’s transformation to a more diversified economy, coupled with its recent additions of NHL and NFL franchises have only increased its desirability as a place for companies to grow their businesses.”
The third leg of the landlord/agency assignments is situated at Aliante Parkway and the I-215 Beltway within Aliante’s 2,000-acre master-planned community. The two 2-story office buildings are the only true office structures within the community with combined space totaling 55,000-sf. A pad for a third building is also an option for a future site with up to 28,000-sf of office space.
Aliante Corporate Center
“The only way to build wealth is through real estate. It is proven to have the highest return with the least risk, and the best way to get the most out of your investment is to choose the right property management team and that is through Charles Van Geel and team at Cushman & Wakefield,” says Jim Goltche, Managing Member, Royal Investors Group.”
Each investment group was selective for representation, and deliberately chose Van Geel, Cayton and Kreft because of their history in Las Vegas and deep connection to the community.
Van Geel’s unique differentiator is his developer background that has availed him the opportunity to work and understand each facet of the commercial real estate process – from development to building to leasing and property management.
Cayton specializes in representing landlords and tenants within top office properties throughout Southern Nevada with focus around tenant prospecting, leasing strategies, negotiating lease transactions, cultivating new business and analysis of individual business location needs.
Kreft rounds out the Cushman & Wakefield Las Vegas trio with experience on deal conversion, along with leasing projections for clients’ commercial portfolios.
“Our tenant mix within the market continues to expand. Investors finally have an opportunity to enter the market during a time of high tenant activity,” adds Christina Roush, Managing Principal for CW Nevada. “It’s a win-win situation as we witness both sides experiencing benefits from the surge of activity in our real estate community. These three investors have put their faith in Cushman & Wakefield, and we plan to deliver on the promise.”
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter
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