Plise unveils $30 million northwest business park

June 04, 2004 - Plise Development Companies recently announced plans for a new $30 million office/retail complex in the fast-growing northwest Las Vegas Valley. The "Painted Desert Professional Park" is a 137,210-square-foot, new master-planned development at U.S. 95 and Ann Road.

Designed by Swisher & Hall Architects, the eight-acre project consists of a five-story 127,000-square-foot Class-A office building, plus a three-story parking structure and two retail buildings fronting Ann Road. The tan-colored, steel-framed buildings will be clad in EIFS and glass.

"Painted Desert Professional Park is an upscale project designed and developed to meet the future requirements of Class-A businesses in the northwest," says Michael Townsend, president of development for Plise Companies. "The park will feature a unique design and a professional atmosphere."

Available office space will range from 2,500 square feet up to 25,000 square feet with retail spaces running from 1,000 square feet to 5,400 square feet. Lease rates are from $1.90- to $2.05-per-square-foot triple-net. No tenants have been announced. Built by Plise Development & Construction, the new complex is expected to open by the second quarter of 2005.

Located directly across from the new Centennial Gateway Shopping Center, Painted Desert is also less than a mile north of Universal Health Services' planned acute care hospital at the intersection of the Las Vegas Beltway and U.S. 95 in the Montecito Town Center. In addition, it's only three miles from of Mountain View Hospital, which is currently undergoing a $12.5 million expansion.

There were 140 office buildings, totaling 5 million square feet, in the northwest submarket at the end of the first quarter, reports Applied Analysis, a Las Vegas-based economic research firm. Also, the northwest had a low 7.4 percent vacancy rate, which is 2 percent below the market-wide average.

"There is a pent-up demand for professional services in the northwest area," says Jeremy Aguero, a principal with Applied Analysis. "Although it's a little outside of the traditional corridor, the general trend is moving towards more people working closer to home."

Projects

Pacifica Companies of San Diego is spending $47.8 million to acquire and convert two local apartment complexes into condominium developments, including the 15-year-old, 428-unit Pirate's Cove near Buffalo Drive and Summerlin Parkway and the 14-year-old, 180-unit Waterford Park on Fort Apache and Desert Inn roads. Financed by Pacific Coast Capital Partners LLC, renovation work is expected to finish in 18 months.

Breslin Builders recently broke ground on the second phase of St. Rose Professional Park, situated on 14 acres at St. Rose Parkway and Eastern Avenue in Henderson. The project consists of three wood-framed stucco-and-stone buildings, totaling 30,400 square feet. Designed by JMA Architecture Studios, the second phase will be completed by January 2005. Upon build-out in 2005, the $40 million complex will consist of 12 buildings, totaling 180,000 square feet. Judi Woodyard of Commercial Associates is the listing agent.

Breslin Builders recently completed Al's Garage and Kennedy Steakhouse, two new restaurants combining for 7,600 square feet at The District at Green Valley Ranch, located at 2235 Village Walk Drive in Henderson. Carpenter Sellers Associates was the architect with Yates Silverman as interior designer.

TWC Construction recently broke ground on a new $3 million, 30,076-square-foot office building for Coldwell Banker Premier Realty at Cimarron Road and Sky Pointe Drive in northwest Las Vegas. Situated on two acres, the two-story concrete tilt-wall building is scheduled to finish in the fourth quarter. It will house 150 Coldwell Banker employees.

TWC Construction is also building the new $3.5 million headquarters for Dolisos America, Inc., a subsidiary of the Pierre Fabre Group, a French pharmaceutical company. The new two-story, 30,000-square-foot building will be located in the Whitney Mesa Business Park at Whitney Mesa Drive and Mountain Vista Street in Henderson. When completed in the second quarter 2005, the plant will have 55 employees producing pharmaceuticals and dietary supplements.

The Korte Company completed the 28,000-square-foot St. John Neumann Parish Center at 4519 Simmons Street in North Las Vegas. Designed by Lucchesi Galati Architects, the one-story block-and-stucco building includes a 930 occupancy multi-purpose room, ten classrooms and a full service kitchen.