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In business economic development retail nevada investment fund hears pitches from about 50 companies henderson shopping mall to be renovated By Eli Segall staff writer By VEGAS INC staff In their quest for strong profits and minimal risk, managers of a Nevada state investment fund are looking for deals — and others' cash. Hamilton Lane, the advisory firm that runs the $50 million Silver State Opportunities Fund, held an investor conference this month at Wynn Las Vegas. Investors from about 30 firms and officials from some 50 companies were in attendance. At least 70 percent of the fund must be spent on businesses that are in Nevada, aiming to expand here or have concrete plans to move here. One deal reached April 4 was for $2 million for Reno-based Miller Heiman, a sales consulting firm. "We're looking for attractive investment opportunities," Hamilton Lane Vice President Miguel Luiña told the audience. The fund, created in 2011 with state education dollars, is expected to be used on energy, health care and technology companies, among others. It will be spent over the next four years, with any profits earmarked for K-12 education. Up to $20 million of the fund will go to private equity and venture capital firms, which will then put the money into Nevada companies, and up to $35 million will be spent directly on five to 12 companies as part of broader investment deals with larger financiers. The criteria might eventually soften, but for now, to obtain a direct investment from Hamilton Lane, a company must earn at least $10 million of annual revenue or have a business plan that can generate big income. The company also must have experienced management, be focused on Nevada and be profitable, or at least have strong potential for profitability. Fund officials also want to partner on those deals with outside investors who contribute more money to the companies than Hamilton. "We're trying to make investments that provide a very good return (and) provide some capital into Nevada, but you seek to mitigate those risks by following good financials," said state Treasurer Kate Marshall, a key force behind the fund's creation. One of Southern Nevada's largest shopping centers — the Galleria at Sunset mall in Henderson — is set to undergo a $7 million renovation, its first since it opened in 1996. Construction is scheduled to begin this month and is slated for completion in the fall. The renovation will be mall-wide and will bring improvements to the food court, center court, guest services center and the restrooms. "We're very excited about the renovation, which will enhance the experience and comfort of our shoppers," said Heather Valera, director of marketing for Galleria at Sunset. "In addition to these many additions, we're also welcoming global fashion giant H&M, which is regularly requested by shoppers." The store will be two levels, approximately 20,000 square feet and located in the heart of the shopping center. The project will also include renovated interior common areas with new soft seating, package carry assistance, free Wi-Fi, stroller rental, and the Sunset Express, a trackless train kids can ride. Boutique Talulah will join H&M in the newly renovated mall. Bath & Body Works and Express stores will relocate to new locations inside the center and will open this fall. The Galleria at Sunset opened in 1996 and is anchored by Macy's, JCPenney, Dillard's, Kohl's and Dick's Sporting Goods. SIOR Southern NV Chapter Members Donna Alderson, SIOR CB Richard Ellis – 702-369-4866 donna.alderson@cbre.com Mike DeLew, SIOR Colliers International – 702-735-5700 mike.delew@colliers.com Daniel Doherty, SIOR Colliers International – 702-836-3707 dan.doherty@colliers.com Art Farmanali, SIOR Cushman & Wakefield 702-796-7900 afarmanali@comre.com David Frear, SIOR Colliers International – 702-735-5700 david.frear@colliers.com Tom Grant, SIOR Diversified Interests, Inc – 702-222-2222 tggrantco@aol.com Kevin Higgins, SIOR Voit Commercial – 702-734-4500 khiggins@voitco.com Mike Hillis, SIOR Cushman & Wakefield 702-796-7900 mhillis@comre.com Patrick Marsh, SIOR Colliers International – 702-735-5700 pat.marsh@colliers.com Dean Willmore, SIOR Colliers International 702-836-3763 dean.willmore@colliers.com Randy Broadhead, SIOR CB Richard Ellis – 702-369-4867 randy.broadhead@cbre.com Michael Dunn, SIOR, CCIM Cushman & Wakefield 702-796-7900 mdunn@comre.com Soozi Jones Walker, SIOR, CCIM Commercial Executives 702-316-4500 soozi@CEVegas.com Tom Naseef, SIOR, CCIM Colliers International – 702-836-3720 tom.naseef@colliers.com Brad Peterson, SIOR CB Richard Ellis – 702-369-4809 brad.peterson@cbre.com Tabor Thill, SIOR Colliers International – 702-735-5700 tabor.thill@colliers.com Charles W. Witters, SIOR Lee & Associates, Commercial Real Estate Services 702-320-1337 cwitters@leelasvegas.com Greg Pancirov, SIOR Colliers International – 702-735-5700 greg.pancirov@colliers.com Xavier Wasiak, SIOR Jones Lang LaSalle – 702-304-2631 xavier.wasiak@am.jll.com 10 20130422_VI10_F.indd 10 The Las Vegas Chapter of SIOR, comprised of 21 active broker members, continues to have a tremendous impact on the activity in the Valley. In 2012, SIOR members were involved in over 7,444,920 of all sold/leased industrial and office square footage, and controlled a 42% share of overall market transaction value with $483,766,333.00. Also involved in the chapter are 3 new candidate members, 5 associate members and 44 chapter sponsors who are involved in every aspect of the commercial real estate industry. Founded in 1941, the Society of Industrial and Office REALTORS® is the leading professional office and industrial real estate association. With more than 3,000 members in 630 cities in 34 countries, the Society represents today's most knowledgeable, experienced and successful commercial real estate brokerage specialists. Las Vegas, Nevada Chapter Activity vs. Total Estimated Market Activity 2012 Curtis Sanders, SIOR Cushman & Wakefield – 702-796-6966 csanders@comre.com Greg Tassi, SIOR CB Richard Ellis – 702-369-4853 greg.tassi@cbre.com KNOWLEDGE | EXPERIENCE | RESULTS (Based on Total Dollar Volume) Office & Industrial Lease and Sale Transactions SOUTHERN NEVADA CHAPTER www.siornv.com 702-798-5156 SIOR 42% Total # SIOR Active Member Brokers Total # Commercial Brokers 21 400 SIOR Brokers as % of Total Brokers 5.00% SIOR Chapter Transaction Volume $483,766,333 Citywide Transaction Volume $1,159,439,753 SIOR Chapter % of Total Market Volume | 42% 22 APRIL 2013 | 4/18/13 2:15:28 PM