Professional plaza sells fast; New buildings in Bullhead filling fast with new tenants

By Ric Swats

River Cities Business Journal

BULLHEAD CITY - Many real estate developers don't have much to say in the way of positive comments about the current market, but if you talk to Jim Nelson of Nelson Development, LLC, you won't hear a word that isn't upbeat.

Nelson is effusive when he talks about the Bullhead City market and particularly about his newest building, the Silver Creek Professional Plaza.

“It is the highest and fastest absorption of any project I've ever done in 30 years,” Nelson said.

The project that includes Silver Creek Professional Plaza currently houses four buildings, but there will be seven when it is built out.

“All of these buildings have been condoed for sale or rent,” Nelson said. “It's the premier project in town.”

Nelson said all of his projects are meeting with very high levels of success right now. His company built Ranch Crossing Shopping Center and the storage facility behind it, Mesa Business Park and the Bullhead City Commerce Center. He also plans an industrial development at the Kingman Airport this year.

Nelson also has projects in Riverside, Calif., Murrietta, Calif, Hemet, Calif., San Jacinto, Calif., Blythe, Calif. and Tucson.

“We're very busy in every market,” Nelson said.

At Silver Creek sales have been particularly strong, he said.

“We're very broad-based. We're for any professional use, a lawyer, an accounting firm, any professional office use,” Nelson said. “Within this project we are 75 to 80 percent medical. It is mostly medical professionals that have established their business or practice here in Mohave County or in Clark County and are looking for a more upscale location with good access.”

Cheri Mahan and Mary-Ellen Veraldi represent Nelson's properties through Realty One Group and he credits them with keeping sales moving.

“One thing, I think, is in a market like this you have to work very hard at it,” Nelson said. “These young ladies work very hard to get our product out on the market.”

Veraldi said diversity helped keep her busy while some Realtors were slow.

“Some people like to tout themselves as strictly residential or strictly commercial, but I don't see any reason you can't do both and do them well,” Veraldi said. “Commercial filled the void during the slowdown, but we have an unusual product.”

She is also optimistic about the market in the immediate future.

“People feel the market has bottomed out and rates are still down,” Veraldi said. “This is more of a normal market.

“We're getting busy again.”