NAI – NAI Excel Commercial Real Estate

Q3 2024 Industrial Tenant Perspective

NAI — Fri, 01 Nov 2024 22:06:31 +0000

Q3 2024 Comments

As we roll into the fourth quarter, the industrial real estate market in Las Vegas is like a seasoned poker player—calm, collected, and not in a rush to make bold moves. While the strip sizzles with tourist traffic, the industrial sector shows poise as tenant activity in the 50,000 to 150,000 square-foot range is steady against the backdrop of 20+ options in the North Las Vegas submarket. It’s a quiet methodical game, with landlords opting to throw in concessions

like tenant improvement allowances and free rent rather than lower rates. You could say the market’s holding its cards, waiting for the river card, with no one folding yet. Rental rates are steady, and vacancies have ticked up to 8.6%, which hardly causes alarm. All is healthy around the valley, apart from the North Las Vegas distribution challenges. This isn’t a market looking for a hot streak—just keeping pace as expected.

Submarket	Standing Inventory	Under Construction	Under Construction Available	Under Construction Pre-Leased	Planned
North	6,619,673	10,922,893	8,697,481	2,225,412	14,881,414
Southwest	66,000	3,231,291	2,513,071	718,220	1,867,000
Henderson	569,300	6,909,210	6,909,210	0	2,152,400
Airport	37,500	32,000	32,000	0	43,299
TOTAL	7,292,473	21,095,394	18,151,762	2,943,632	18,944,113

Construction.

For the past three months, the numbers are consistent in the Las Vegas industrial market—no significant changes, no surprises. But the real buzz is around the progress made on 21 million square feet of construction, steadily pushing towards completion. It’s like watching a poker game where the pot keeps growing, and everyone’s waiting to

see who makes the next move. In the next 6 to 9 months, we could see the standing inventory number skyrocket, adding a massive stack of space to the market. All eyes are on the table as the pot grows, with everyone waiting to see how the cards fall in this high-stakes development and leasing game.

Henderson — Rental Rates | ±50,000 SF – $1.10-$1.12 | ±150,000 SF – $1.05-$1.10 Sale Comp: August 20th, 2024—Ares Real Estate Fund purchases AirParc Heights Industrial Park, a fully stabilized six-building mid-bay Class A park spanning 339,214 SF—$232/SF. Address: 3235 Sunridge Heights Pkwy.

Submarkets.

North Las Vegas — Rental Rates | ±50,000 SF – $0.95-$1.05 | ±150,000 SF – $0.88-$0.95 Sale Comp: August 22nd, 2024—CNC Cabinetry pays $185/SF for recently completed turn-key 89,284 SF distribution facility with 3,500 SF office. Address: 2770 N. Lamb Blvd | Sale Comp: September 19th, 2024 — Theming & Millwork Concepts buys 3470 John Peter St, a 23,579 SF building, for $219/SF. Address: 3470 John Peter Lee St.

Southwest — Rental Rates | ±50,000 SF – $1.15-$1.30 | ±150,000 SF – $1.05 – $1.15 Sale Comp: August 23rd, 2024— Investor bought a fully occupied twotenant 35,446 SF industrial building for $291/SF at 5.5% cap. Address: 6260 W. Pebble Rd | Sale Comp: July 15th, 2024 — High image dock-high building sells to an Owner User (Stickers Banners) for $339/SF sets market high. Address: 7485 W. Badura Ave.

Airport — Rental Rates | ±50,000 SF – $1.15-$1.30 | ±150,000 SF – $1.05-$1.15 Sale Comp: August 2nd, 2024—Marx Digital Manufacturing buys a high-image 19,707 SF building with small yard for $284/SF. Address: 1850 E. Maule Ave.

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Eric Larkin

Mr. Larkin joined NAI Vegas in 2013 with 7 years of experience coming from a regional brokerage firm specializing in representing institution landlords, REITs, insurance companies, lenders, receivers, and developers. Mr. Larkin’s extensive knowledge and understanding of investment analysis, property valuations, and lease negotiations has resulted in the completion of over 100 million dollars in transactions including leases, REO and distressed debt sales, trustee sales, and short sales.

Michael Kenny

Michael is well versed in Real Estate and brings a unique background of finance and civil construction to his clients along with proven results and an unrivaled level of service. He works diligently with his clients to identify every opportunity, add value, and continually cultivates each relationship to help achieve their goals.

Leslie Houston

Leslie Houston joined NAI in 2018 after seven years of experience with a third party commercial real estate database, formerly known as one of the Top 2 commercial real estate information providers. Leslie came to Vegas with an extensive real estate network from coast to coast. She possesses a very unique subset of skills which includes all property types, all listing types, analytics, and research. Coaching, supervision, and customer service have been major components throughout Leslie’s career and are proving to directly relate to her new role within the Larkin Industrial Group.

Zach M. McClenahan

Zach is a Las Vegas native ad second-generation Commercial Real Estate professional. He joined the Larkin Industrial Group in 2021 while completing his bachelor’s degree in finance at the University of Nevada, Las Vegas. Zach has played competitive hockey in Tier-1 Elite Leagues and is just as competitive on the golf course. When not utilizing his attention to detail towards studies or Industrial Real Estate brokerage support, he often serves for local volunteer organizations such as Three Square.

Seth Wright

Seth joined NAI Excel in 2024 after graduating from UNLV’s Lee Business School with a Bachelor of Science in Business Administration and an emphasis in Real Estate. He joined NAI Excel as part of the Larkin Industrial Group where he will help support the team in providing top-level advisory services to industrial occupiers throughout Southern Nevada.

Seth maintains strong roots to Orange County, CA where he was raised and has family. Outside of work, Seth enjoys fitness and exploring the outdoors.

About NAI Excel

NAI Excel is a leading provider of commercial Real Estate Services in the US. Operating in Utah, Nevada, Texas, and Idaho, they are part of the NAI Global network covering nearly every major market nationally and across the globe. NAI Excel is a subsidiary of Brokers Holdings, LLC. Headquartered in St George, UT since 1982, Brokers Holdings owns and operates both residential and commercial brokerages. With over 800 agents and staff, Brokers Holdings closes over 5,500 transactions worth more than $2 billion in value each year and manages over $1 billion in assets.

About NAI Global

NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 300 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 5,100 local market professionals, managing in excess of 1.1 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.

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Commercial Real Estate Investing in Nevada

NAI — Tue, 29 Oct 2024 19:57:55 +0000

See our Broker, Todd Manning in this Month’s Issue of Nevada Business | October 2024

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Todd Manning

Todd joined NAI Excel in 2020 as its Managing Broker and also specializes in the lease and sale of net lease retail properties. In the past 15 years, he has completed hundreds of retail lease and sales transactions, and received four Power-Broker awards.

Prior to joining NAI Excel, Todd was Regional Manager/Vice President of Investments at Marcus & Millichap Las Vegas, receiving three national management awards, and leading the office to a 200% increase in listing volume.

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NAI Excel Sells Industrial Building for $16.52 Million

NAI — Thu, 05 Sep 2024 16:20:38 +0000

NAI Excel Sells Industrial Building for $16.52 Million

August 29, 2024, Las Vegas, NV – NAI Excel is pleased to announce the sale of the Strongbox Lamb Industrial Center located in North Las Vegas, Nevada. The property sold for $16,527,540.

The property comprises ±4.47 acres and features an ±89,284 square-foot, Class A, industrial warehouse that was recently completed in August of 2024.

Bryan Houser of NAI Excel represented Strongbox Development in the sale of the property. Sean Zaher of CBRE represented the buyer, a national cabinetry manufacturer.

“From my initial meeting with Strongbox where we discussed opportunities and their vision for this project, to identifying the project site and seeing the development to completion, it has been an incredible journey,” stated Mr. Houser. “Dave Sundaram, Principal & CEO of Strongbox Development, deserves all the credit for guiding this project through the traditional development challenges and some unprecedented headwinds in capital markets. He made it happen.”

The buyer plans to occupy the property as their primary manufacturing and distribution hub on the West Coast.

Bryan Houser

Bryan specializes in the representation of landlords and tenants in the leasing, acquisition, and disposition of Industrial and Office properties throughout Southern Nevada and the Southwestern U.S. He recently completed the NAIOP Developing Leaders program and attributes much of his success to his “client first” focus; ensuring that his clients’ needs are placed above all others and the outcomes are in their best interest. “I get satisfaction from providing a smooth successful transaction for my Landlord, Tenant and Investment clients, and in knowing they are satisfied with the outcome of the deal.”

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Q2 2024 Industrial Tenant Perspective

NAI — Mon, 05 Aug 2024 17:30:28 +0000

Q2 2024 Comments

On July 7, Las Vegas broke its all-time temperature record, reaching 120°F at Harry Reid International Airport, surpassing the previous high of 117°F set in 1942. Amidst the heat, the industrial real estate market in Las Vegas has unfolded as anticipated this summer, with slowing demand and rising vacancies. Despite expectations for decreasing rental rates, they have remained relatively steady. Notably, North Las Vegas distribution rates have dropped to

the mid to high $0.80’s per square foot from a high of +/- $1.10 per square foot. Landlords increasingly secure deals through concessions such as tenant improvement allowances, early access, and abated rents, rather than lowering rates. Unlike the weather, no records have been set in the industrial real estate market, but the volume of concessions, including free rent, is nearing levels not seen since the financial crisis.

Submarket	Standing Inventory	Under Construction	Under Construction Available	Under Construction Pre-Leased	Planned
North	6,742,506	10,811,893	9,170,841	1,641,052	14,992,414
Southwest	66,000	2,969,291	2,251,071	718,220	2,291,000
Henderson	569,300	5,522,166	5,489,410	32,756	3,572,200
Airport	37,500	32,000	32,000	0	43,299
TOTAL	7,415,306	19,335,350	16,943,322	2,392,028	20,898,913

Construction.

According to CoStar, industrial deliveries in Las Vegas are set to reach a record high in 2024, with 13 million SF slated for completion. This will expand the inventory by over 7%, surpassing the past five years’ 4% annual growth rate. Late- 2023 construction starts remained strong, with nearly 6 million SF breaking ground in the year’s second half. Nationally, construction starts have slowed below the three-year average during the same period. With over 17 million SF under construction in early 2024, vacancies may increase faster than the national average. The total space under construction represents 10% of existing

inventory in Las Vegas, compared to 2.2% nationally. Approximately 70% of the industrial space currently being built is available for lease, higher than the national rate of 55%. Projects of 400,000+ square feet face significant challenges, with leasing in this segment virtually nonexistent in the past year. About 17% of the inventory of properties 400,000 square feet or larger is available for lease, nearly double the national rate of 9.6%, making it one of the highest comparable rates in the U.S.

Henderson — Rental Rates | ±50,000 SF – $1.10-$1.12 | ±150,000 SF – $1.05-$1.10 Sale Comp: May 15th,2024 – T Brokers Tile bought 941 Empire Mesa Way., 6,869 SF building – $237/SF. | Sale Comp: May 23rd, 2024 – A private investor purchased 1735 Chaparral Rd., a 98,023 SF NNN leased investment for $284/SF – Pro Forma cap rate of 4.91%.

Submarkets.

North Las Vegas — Rental Rates | ±50,000 SF – $1.00-$1.10 | ±150,000 SF $0.90-$0.95 Sale Comp: May 8th, 2024— Panda Window & Doors expanded with a 41,309 SF building at 3865 N. Pecod Rd., for $237/SF. | Sale Comp: May 30th, 2024 —IOS fund purchased XPO truck terminal with a short lease for $38/SF.

Southwest — Rental Rates | ±50,000 SF – $1.15-$1.30 | ±150,000 SF – $1.05 – $1.15 Sale Comp: April 26th, 2024 – IOS fund acquired a 20- yr NNN lease on a 4.54-acre low-coverage property for $31/SF. | Sale Comp: May 2nd, 2024 —Freestanding 42,645 SF building, sold to a mechanical contractor user for $258/SF.

Airport — Rental Rates | ±50,000 SF – $1.15-$1.30 | ±150,000 SF – $1.05-$1.15 Sale Comp: June 24th, 2024—32,756 SF dock-high new build, sold to a construction user for $256/SF. The user unit is shell, and the for-lease unit is turn-key.

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Eric Larkin

Michael Kenny

Leslie Houston

Zach M. McClenahan

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Sprouts Farmers Market To River Crossing

NAI — Tue, 25 Jun 2024 17:03:25 +0000

River Crossing Anchor Store Announcement

After many months of speculation and rumors, NAI Excel and Legend Partners are very pleased to announce the newest addition to the River Crossing shopping center in St. George, Utah.

Sprouts Farmers Market will occupy River Crossing’s anchor location, offering a wide selection of natural and organic foods, including fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat, poultry, seafood, deli, baked goods, dairy products, frozen foods, natural body care, and household items. The company has hundreds of locations in 23 States coast-to-coast. This will be its first location in Southern Utah.

“It is exciting to see development and tenants at River Crossing. For more than a decade, the community has speculated about what would be here. We are excited for the architecture and unique tenant mix that will make River Crossing a destination in the St. George Market.” stated Neil Walter of NAI Excel.

More tenant announcements will be made soon as demand for space has been very high, and space is filling up fast. To secure a location, please contact Neil Walter and Roy Barker with NAI Excel or Joe Mills and Tanner Olsen with Legend Partners. NAI Excel and Legend Partners have been retained to market and lease River Crossing.
River Crossing is located at the corner of River Road and George Washington Blvd (1450 S) and is the only north-south, east-west intersection in the greater St. George area where the cross streets run freeway to freeway. Construction is well underway with the first tenants scheduled to open in August and September.

Roy Barker

Roy began his professional career in 2003 working as an estate and tax planning consultant with a national estate planning educational firm. He was highly sought after for his expertise in capital gains tax deferral strategies, educating Attorneys, CPAs, and Financial Advisors all over the country.

In 2008, he moved to Portfolio Management where he oversees a large nine figure portfolio for an institutional investor. His experience includes a broad range of investments, from the more traditional stocks and bonds to residential rental properties, commercial assets, and more.

In early 2019, Roy was pleased to join NAI Excel where he hopes to leverage his experience to aid commercial property owners and investors in finding properties to meet their needs. He’s excited to be working with and learning from the great professionals at NAI.

Neil Walter

Neil is both partner and CEO for Brokers Holdings. His client base is primarily focused on investment properties, development land, special use assets with or without the accompanying business, and difficult to sell REO properties. Neil’s professional experience is built on a capital markets foundation of deal structuring, cash flow modeling, and asset pricing. He has worked on projects including development land, multifamily and student housing, convenience store portfolios, grocery stores, motel/hotel properties, manufacturing companies, transportation companies, wind farms, farms and ranches, professional service firms, and start-up entrepreneurial ventures. He has advised on transactions with or without real estate.

For nine years, Neil taught economics and upper division finance at Dixie State University. His courses include Real Estate Finance, Entrepreneurial Finance, Financial Modeling and Decision Making, Intro to Economics, and Macro Economics. Previously he priced derivatives and structured products and helped create risk metrics for the North America Gas and Power Trade Floor at ConocoPhillips.

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Starbucks On Main St and Canyon Ranch Dr in Cedar City

NAI — Tue, 26 Mar 2024 20:22:53 +0000

Starbucks secures lease agreement on Main St and Canyon Ranch Dr. in Cedar City

We are excited to announce Starbucks as the newest Tenant for the brand-new shopping center located on the corner of Main Street and Canyon Ranch Dr in Cedar City.

Starbucks started in 1971 in Seattle’s Pike Place Market and has since become the largest coffee chain in the world with over 17,000 locations in the U.S. and over 38,000 worldwide. Starbucks is in over 80 different countries, serving its gourmet coffee to everyone who walks through their doors.

Neil Walter and Roy Barker at NAI Excel have been retained to market and lease space in the new center and represented the landlord in this transaction. Jake Woodward at Spartan Partners CRE represented Starbucks.

“It’s exciting to see the development get started at this new Cedar City location. The high visibility and ease of access right off I-15 make this a prime location for a variety of retail. We believe the shopping center will be a great spot both for locals and for I-15 travelers and Starbucks is a fantastic addition that will draw people to the center.” stated Roy Barker of NAI Excel.

Ground is expected to be broken soon with deliveries of space beginning the first half of 2025. More tenant announcements will be made as leases are finalized.

Neil Walter

Roy Barker

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Roni’s Mac Bar to River Path Landing

NAI — Thu, 21 Mar 2024 20:33:13 +0000

River Path Landing Teams Up with Viral Sensation and National Franchise Roni’s Mac Bar to Unveil Innovative Dining Experience in Utah: Lease Agreement Secured

St George, Utah – March 25, 2024 – River Path Landing, the premier mixed-use development situated along the Virgin River, is thrilled to announce the signing of a lease agreement with the build-your-own mac and cheese franchise Roni’s Mac Bar, to open a new restaurant at 1449 E George Washington Parkway.

The signing of this lease marks a significant milestone for River Path Landing and underscores its position as a coveted destination for both residents and visitors alike. River Path Landing is designed to offer a unique blend of dining, retail, and recreational opportunities, making it an ideal location for Roni’s Mac Bar’s newest venture.

Listing agents Brandon Price and Dan Bertelson of NAI Excel represented the Landlord, working closely with Wes Davis, also of NAI Excel, who represented the Tenant. Their expertise and dedication were instrumental in securing a prime location for Roni’s Mac Bar within River Path Landing. This location will offer both dine-in and drive-thru options.

“We are thrilled to welcome Roni’s Mac Bar to River Path Landing,” said Brandon Price, leasing agent at NAI Excel. “Their commitment to quality and innovation aligns perfectly with our vision for this development. We believe that their presence will further enrich the vibrant atmosphere of River Path Landing and provide an exceptional dining experience for our community.”

The new Roni’s Mac Bar restaurant is slated to open its doors this summer in 2024. It will offer patrons a bold and unique menu of signature dishes and an outside-the-box dining experience that shakes up comfort food norms and redefines mac and cheese.
(visit www.ronismacbar.com). Some notable mac dishes include a Texas BBQ bowl featuring brisket, a Buffalo Mac, and millions of combinations of build-your-own mac and grilled cheese.

Also opening this summer is the second Roni’s Mac Bar Utah location located in Provo walking distance from the BYU campus. (42 E 1230 N) More details to come regarding store opening and the grand opening. Follow us on social media to keep up on the latest happenings! (@ronismacbarprovo) (@ronismacbarstgeorge)

Brandon Price

Brandon began his professional career in Criminal Justice and worked to help communities be safer and more prosperous. After 20 years in law enforcement, Brandon retired and built a thriving Insurance agency serving Southern Utah and specializing in Commercial Business policies.

Brandon thrives on follow through and communication. He works diligently and effectively for his clients and the community. Brandon’s background provides ample experience to search, find, and negotiate on your behalf.

Dan Bertelson

Dan is a small business owner and investor, as an entrepreneur he understands business needs both fiscal and fundamental. Dan has experience in retail and industrial development, start-up businesses, brand building, technology, acquisition & merger, and negotiations. His specialty is Healthcare, Industrial, and Restaurant Space. Dan is honored to work with the best of the best in commercial real estate here at NAI Excel. He is ready to help you reach your investment goals and commercial real estate needs regardless of industry. His philosophy is: “Your success is my focus”

Wes Davis

Wes Davis has been one of the top producing commercial agents in Southern Utah for the past 17 years and has been recognized regularly as the Top Producer. Wes earned a Masters degree in Business Administration from Southern Utah University and Masters in Commercial Real Estate designation from the Lipsey School of Real Estate.His success has been attributed to hard work, dedication, creativity, and active client relationships. He believes in providing quality service by going above and beyond to satisfy his customers. His experience includes brokering sales and leasing of office parks, retail centers, industrial buildings, land and structuring joint ventures. He has assisted many clients in obtaining entitlements from the city and project management for development and construction – something rarely offered by most professionals. A few projects to note are Joule Plaza in St George, UT, City Centre in Clearfield, Utah, Orsini in St. George, UT and several others.

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Rohde Ottmers Realty Joins Forces with NAI Excel

NAI — Mon, 02 Oct 2023 12:00:13 +0000

Rohde Ottmers Realty Joins Forces with NAI Excel

View San Antonio NAI Excel Team

San Antonio, TX, October 3, 2023: Rohde Ottmers Commercial and Investment Realtors is expanding its market presence as it joins forces with NAI Excel, a regional commercial real estate firm, and member of NAI Global. Along with NAI Excel, Rohde Ottmers will offer enhanced marketing, technology, research, education, and support for agents and clients.

Founded in 1908, Rohde Ottmers is the oldest and most trusted commercial real estate company in San Antonio and South Texas. Alfred W. (Tom) Rohde, III and Bryan Ottmers lead the company that was originally founded by Rohde’s grandfather. The Rohde Ottmers team of twenty commercial real estate professionals, property managers, and support staff have developed, transacted, and managed some of the most significant projects in the region.

“We have been looking for a partnership where we could support our client’s growth in other parts of the country and internationally”, stated Tom Rohde, President at Rohde Ottmers. “With NAI Excel, we also found individuals that we could trust to share our legacy and elevate our services.”

Tom Rohde and Bryan Ottmers will continue their local leadership of the company, along with Tom DeWine of NAI Excel. Like Rohde and Ottmers, DeWine is a longtime San Antonio real estate broker, and grew a real estate company with his father in San Antonio and throughout central Texas. “The commercial agents, management team, and staff at Rohde Ottmers are some of the most experienced professionals in the industry”, stated Tom DeWine, managing broker at NAI Excel. They will be a tremendous resource for NAI network clients across the country who are doing business in San Antonio.”

NAI Excel is operated by Walter brothers Neil, Jon, and Matt, third generation real estate brokers. When they purchased ownership of the company from their father and other partners many years ago, they began innovating in real estate in an unprecedented way. Their proprietary technology, and suite of services includes ARTI® Transact, ARTI ® Academics, ARTI® Tools, and ARTI® Studio. These platforms elevate marketing, technology, education, and support in a way that other real estate brokerages can’t readily replicate. NAI Excel publishes regular commercial real estate including retail, office, industrial, and multifamily for the San Antonio and Austin metro areas, as well as other markets they serve.

Rohde Ottmers is looking forward to opportunities for expansion with NAI Excel and the NAI Global network. Earlier this year, The Aldrich-Thomas Group, founded in 1962 and led by Lloyd Thomas, joined NAI Excel just north of Austin in Temple, TX. NAI Excel is also undergoing construction of a new office location in Austin that is expected to open early 2024. Commercial real estate agents at Rohde Ottmers are already working with clients on assignments across the country and into Mexico through the NAI Global network. With NAI Excel and NAI Global, Rohde Ottmers agents have access to support their clients’ investment and growth anywhere they do business.

Rohde Ottmers manages more than 2 million square feet of retail, office, and industrial property in the San Antonio region. Bryan Ottmers, president of the management division, and Lori Rose-Alvarez, director of property management, will continue to lead management team. “We are looking forward to an office and support team in Austin, and other market areas, to better support our clients’ real estate holdings that expand outside of San Antonio”, said Ottmers.

About Rohde Ottmers Realty

Rohde Ottmers Commercial and Investment Realtors is a full service commercial real estate company servicing San Antonio and Southwest Texas. Founded in 1908 by Alfred W. Rohde, Sr., the company has a long and successful record of marketing a broad range of land, commercial buildings, and retail centers. Rohde Ottmers is the oldest and most trusted name in commercial real estate in San Antonio and South Texas.

About NAI Excel

NAI Excel is a leading provider of commercial real estate services across the U.S. with offices in Nevada, Texas, and Utah. The company is part of the NAI Global network comprising more than 325 offices across 65 countries. NAI Excel is a subsidiary of Brokers Holdings, LLC, which operates commercial and residential real estate brokerages. The company was founded in 1982 and has since grown to encompass more than 25 offices and 800 real estate professionals who are managing $1 billion in assets and closing more than 5,000 transactions annually with a combined value of over $2 billion.

About NAI Global

NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 300 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 5,800 local market professionals, managing in excess of 1.1 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.

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NAI Vegas Welcomes Stacy Inness

NAI — Wed, 26 Apr 2023 20:31:57 +0000

NAI Vegas Welcomes Stacy Inness

Las Vegas, NV (March 30, 2023) – NAI Vegas is pleased to announce that Stacy Inness, CPM, has joined the firm as Senior Property Manager in their Las Vegas office. In her new role, Stacy is tasked with helping grow the firm’s property management division and managing a commercial property portfolio in Southern Nevada.

“We are excited for Stacy to join our team,” stated Todd Manning, managing broker of NAI Vegas. “Stacy has great experience managing various types of commercial property in Las Vegas and has a great temperament for working with clients, vendors, and tenants.”

Stacy brings with her more than 12 years of experience in commercial property management, most recently with Legacy Property Management. She holds a bachelor’s degree in graphic design from Loyola Marymount University and worked in advertising prior to starting her career in property management.

Stacy Inness

Stacy has been working in the real estate industry in Las Vegas managing and leasing office, retail, industrial buildings, and property owner associations since 2009. Her career began with three years managing the personal assets of a high net worth owner/investor’s portfolio including retail, office, and residential units, as well as property flips. Stacy has developed long-standing relationships with reputable vendors in the Las Vegas valley to assist with keeping properties functioning at the highest efficiency. She is well versed in asset management including tenant improvements, capital improvements, lease negotiations and tenant retention.

About NAI Vegas and NAI Excel

NAI Excel and NAI Vegas are leading providers of Commercial Real Estate Services in the West. Operating as NAI Vegas in Nevada, and NAI Excel in Utah and Idaho, we are part of the NAI Global network covering nearly every major market nationally and across the globe. Serving both urban and rural markets, we leverage our resources to help you excel in your real estate goals. When you work with one of our team, you get the benefit of working with all of us.

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River Crossing in St. George Announces First 5 Tenants!

NAI — Mon, 24 Apr 2023 20:40:40 +0000

NAI Excel & River Crossing in St. George, Utah, Announces the First Five Tenants

The tenants are a 12^th location for Kiln, a boutique flexible office space that offers memberships for teams ranging in size from 1-100; J. Dawgs, opening their 11^th location offering all-natural meat hot dogs, homemade sauce, and fresh buns; Saint City Cantina, a local taco concept from the creators of Hive 435 and Twisted Noodle Café; Starbucks, is the largest coffee chain worldwide with over 33,500 locations; and Cyprus Credit Union, with their 22^nd branch and is Utah’s longest-serving credit union since 1928. An undisclosed 6^th tenant has been signed for Building B.

Neil Walter at NAI Excel together with Joe Mills, and Tanner Olsen, and Chris Hatch with Legend Partners have been retained to market and lease River Crossing.

“It is exciting to see development and tenants at River Crossing. For more than a decade, the community has speculated about what would be here. We are excited for the architecture and unique tenant mix that will make River Crossing a destination in the St. George Market.” stated Neil Walter of NAI Excel.

River Crossing is located at the corner of River Road and George Washington Blvd (1450 S) and is the only north-south, east-west intersection in the greater St. George area where the cross streets run freeway to freeway. Ground has been broken and the first tenants will be open in 2024. More tenant announcements will be made as leases are finalized.

Neil Walter, MBA

Chase Jensen

Chase’s insight and utilization of market research has created a competitive advantage for investors and developers throughout Utah. Prior to joining NAI Excel, Chase assisted in the adoption of Asset Management Software, focused on Customer Success and Satisfaction. He also speaks fluent Spanish providing the ability to consult with an international customer base.

Roy Barker

About NAI Excel and NAI Vegas

NAI Excel and NAI Vegas are leading providers of commercial Real Estate Services in the US. Operating as NAI Vegas in Nevada, and NAI Excel in Utah, Texas, and Idaho, they are part of the NAI Global network covering nearly every major market nationally and across the globe. NAI Excel and NAI Vegas are subsidiaries of Brokers Holdings, LLC. Brokers Holdings owns and operates both residential and commercial brokerages in multiple states. With over 800 agents and staff, Brokers Holdings closes over 5,500 transactions worth more than $2 billion in value each year and manages over $1 billion in assets.

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