Vegas Home Prices Rise, Market Sees More Traditional Buyers

The median price of an existing single-family home sold in Southern Nevada during June was $199,900 – the highest mark since September 2008. This is according to recent statistics released by the Greater Las Vegas Association of REALTORS (GLVAR). The median price is 2.5 percent higher than May and up over 14 percent compared to June… [More...]

CCIM: Join the Club

The requirements to earn the CCIM designation are challenging and extensive, necessitating a commitment of time, effort, money and, often, sacrifice.

After Nevada’s economic downturn and resulting real estate crash had begun, Cindy Santilena, a Las Vegas commercial real estate lender for small businesses and entrepreneurs, was looking for a way to highlight herself and her company when working with other industry professionals during a struggling, competitive market. She decided to pursue a CCIM, a prestigious… [More...]

Nevada Real Estate & Development Report: July 2014

Read the Nevada Real Estate and Development Report: July 2014 - Commercial real estate and development - projects, sales, and leases.

E Sale, Multi-Family ADDRESS 1401 N. Lamb Blvd., 89110 BUYER Masuda Family Trust SELLER Brooksone Apartments, LLC DETAILS 193 units; $10,550,000 APN 140-29-101-019 SELLER’S REP Patrick J. Sauter and Art Carll of NAI Vegas The Sauter Multifamily Group H Sale, Multi-Family ADDRESS 1651 American Pacific Dr., 89074 BUYER Hamilton Zanze & Company SELLER The Calida… [More...]

Retail Summary: First Quarter 2014

Southern Nevada The Las Vegas retail market continued to witness increased demand in the first quarter of 2014 as the sector reported positive net absorption for the fourth consecutive quarter. The retail market vacancy rate fell to 9.0 percent by the end of the first quarter, which is down 0.1 percentage point from the prior… [More...]

GLVAR Partners with ListHub to Educate Members on Real Estate Listing Syndication Issues

GLVAR is the first multiple listing service to participate in the free listing syndication education program, WiseAdvertise.

ListHub Kicks Off WiseAdvertise Syndication Education Program MORGANTOWN, W. Virginia - ListHub, the leading distributor of U.S. property listings to U.S. publisher websites and provider of real estate performance metrics, announces the launch of a free listing syndication education program, WiseAdvertise. The Greater Las Vegas Association of REALTORS (GLVAR) is the first multiple listing service (MLS) to participate… [More...]

Nevada Real Estate & Development Report: May 2014

Read the Nevada Real Estate and Development Report: May 2014 - Commercial real estate and development - projects, sales, and leases.

E Project, Industrial ADDRESS 400 S. Seventh St., 89101 DETAILS The Korte Company completed the Robert T. Eglet Advocacy Center in Downtown Las Vegas. The $17.5 million three-story building covers 96,875 SF with office space occupying a little over 47,600 SF. The architect for the project was Design Cell Architecture. H Sale, Industrial ADDRESS 1175… [More...]

Industrial Summary: First Quarter 2014

Southern Nevada The Las Vegas industrial market continued to witness substantial demand in the first quarter of 2014. The sector’s vacancy rate fell to 12.2 percent during the period, which is down 0.8 percentage points from the prior quarter. Compared to a year ago, vacancies are down an even more dramatic 2.8 percentage points. The… [More...]

Nevada Real Estate & Development Report: April 2014

Read the Nevada Real Estate and Development Report: March 2014 - Commercial real estate and development - projects, sales, and leases.

E Sale, Retail ADDRESS 5050 E. Russell Rd., 89122 BUYER Wyandotte, Inc SELLER Kathleen & Adrian Varni Trust DETAILS 24,034 SF; $2,200,000 APN 161-28-401-011 BUYER’S REP Neil Dela Cruz of MDL Group SELLER’S REP Katherine Bergh of Marcus & Millichap Loan, Office ADDRESS 2575 E. Sahara Ave., 89104 BORROWER Reliable Auto Sales LENDER TMC Financing… [More...]

Retail Summary: Fourth Quarter 2013

Southern Nevada The Las Vegas retail vacancy rate fell below 10 percent or the first time since 2008 as it ended 2013 at 9.2 percent. The latest rate is down 0.2 percentage points from the prior quarter and represents a decline of 0.8 percentage points from the prior year. During the fourth quarter, the retail… [More...]

NVAR names Teresa McKee CEO

Teresa McKee has been promoted to run the daily operations of the Nevada Association of REALTORS (NVAR) as its CEO.

Teresa McKee named CEO of Nevada Association of REALTORS RENO, Nev. – After serving for years as the association’s longtime legal counsel and for months as its interim CEO, Teresa McKee has been promoted to run the daily operations of the Nevada Association of REALTORS (NVAR) as its CEO. “We’re fortunate to have Teresa as… [More...]

Nevada Real Estate & Development Report: March 2014

Read the Nevada Real Estate and Development Report: March 2014 - Commercial real estate and development - projects, sales, and leases.

E Lease, Industrial ADDRESS 4935 Steptoe St. Ste 500, 89122 TENANT Charming Exhibition Inc. LANDLORD Lomas Regency LLC DETAILS 5,850 SF; $22,464 for one year REP (BOTH) Jarrad Katz, CCIM and Galit Kimerling of MDL Group H Project, Office ADDRESS 875 Warm Springs Rd., 89011 DETAILS Cadence, the 2,200-acre planned community in Henderson has begun… [More...]

Office Summary: Fourth Quarter 2013

Southern Nevada The Las Vegas office sector ended 2013 on a somewhat positive note as it reported positive net absorption for the third consecutive quarter. While the vacancy rate remains elevated, the latest period represents a decline of 0.2 percentage points compared to the prior quarter. Compared to a year ago, the rate is down… [More...]

Las Vegas High Rise Enjoys Record-Breaking Year

Las Vegas high rise One Queensridge Place saw a year-over-year increase in residential transactions of more than 300 percent. Queensridge Properties, LLC recently announced the sales figures at the two luxury towers, which are located near the western edge of the Las Vegas Valley. The company was involved in 55 transactions exceeding $100 million in… [More...]

February 2014: Around the State

Read business new from around Nevada for February 2014.

Sunrise Health Hospitals and H2U Partner to Open Health Centers for Employees Sunrise Health Hospitals and Health to You (H2U) have partnered to open three H2U health centers for hospital employee and dependents, approximately 8,855 individuals. MountainView and Southern Hills centers opened in January with the final clinic at the Sunrise and Sunrise Children’s Hospital… [More...]

Industrial Summary: Fourth Quarter 2013

Southern Nevada In 2013, the Las Vegas industrial market reported the highest net absorption since 2007. The vacancy rate at the end of 2013 was 13.8 percent, which represents a decline of 0.4 percent from the prior quarter. Compared to a year ago (Q4 2012), the vacancy rate reported an even more substantial decline of… [More...]

Panattoni Announces New Reno Development Manager

Panattoni Development Company announced the addition of Paul Kinne as the company’s development manager for its Reno office.

RENO, Nev. – Panattoni Development Company announced the addition of Paul Kinne as the company’s development manager for its Reno office. Kinne is tasked with many responsibilities, including managing the development of industrial and office properties, coordinating aspects of land acquisition, managing project construction budgets and underwriting development feasibility. His position also entails negotiating lease, purchase… [More...]

Nevada Real Estate & Development Report: January 2014

Read the Nevada Real Estate and Development Report: January 2014 - Commercial real estate and development - projects, sales, and leases.

New Year – New Format The ReD Report has a new, easier to read format. Commercial real estate professionals throughout the state have requested the report be categorized in market areas, as opposed to zip codes. The color-coded areas correspond to the map below and each deal is presented in a more concise manner. We… [More...]

Retail Summary: Third Quarter 2013

Read the Nevada Retail Summary: Third Quarter 2013 - summarizing the office commercial real estate market for Las Vegas and Reno/Sparks.

Southern Nevada During the third quarter of 2013, the Las Vegas retail market continued to witness increased demand, largely sourced to tenants occupying previously vacant anchor spaces. The overall vacancy rate fell to 9.6 percent during the quarter, representing a decline of 30 basis points (0.3 percentage points) from the prior quarter (Q2 2013). The… [More...]

Non-Residential Real Estate Holdings Down, Residential Up Among Affluent Nevadans

Holdings in non-residential real estate have given way to more residential investments among affluent Nevadans in recent decades. However, this trend may change according to the 12th edition of the “High Net Worth Report” by The Private Bank by Nevada State Bank. Currently, close to 19 percent of households in the top 10 percent of… [More...]

Office Summary: Third Quarter 2013

Nevada Office Summary: Third Quarter 2013

Southern Nevada The Las Vegas office vacancy rate declined for the second consecutive quarter, reaching 25.9 percent by the close of the third quarter of 2013. Although the latest period represents a decline of 40 basis points when compared to the prior quarter, vacancies remain elevated. Compared to a year ago, the vacancy rate is… [More...]

Nevada Real Estate & Development Report: November 2013

Read the Nevada Real Estate and Development Report: November 2013 - Commercial real estate and development - projects, sales, and leases.

Projects Las Vegas, 89109 Tutor Perini Building Corp. has begun construction on the third phase of the Marriott’s Grand Chateau, the first vertical construction to occur on the Las Vegas Strip since 2008. Construction is projected for completion mid-2014, and will add 233 tower villas for a total of 643 units at the timeshare resort.… [More...]

Industrial Summary: Third Quarter 2013

Read the Nevada Industrial Summary: Second Quarter 2013 - summarizing the industrial commercial real estate market for Las Vegas and Reno/Sparks.

Southern Nevada The Las Vegas industrial market vacancy rate fell to 14.8 percent in the third quarter of 2013, which is the lowest it has been since the first quarter of 2010. Compared to the prior quarter (Q2 2013), vacancies are down 70 basis points (0.7 percentage points), while they have fallen 220 basis points… [More...]