Nevada Land Market Continues to Recover

“The land market has been in recovery since 2010, and homebuilders have been driving that,” said managing partner of Sunbelt Development & Realty Partners.

Demand for land in Nevada has resembled a rollercoaster pattern this decade. During the real estate boom in the first half of the 2000s, both residential and commercial developers hungrily purchased land, driving up prices. With the recession, the opposite happened; development nearly ceased, land demand decreased and so did the price. Again, the pendulum… [More…]

Office Summary: Second Quarter 2014

Southern Nevada The Las Vegas office vacancy rate declined in the second quarter of 2014 after increasing in the first quarter of the year. During the latest period, the sector reported a vacancy rate of 25.2 percent, which is down 0.4 percentage points from the prior quarter. Compared to a year ago, vacancies have fallen… [More…]

Nevada’s Residential Market: A Season of Change

For the last two years, Nevada’s residential housing market has seen substantial rebound, with significant effect on prices.

For the last two years, Nevada’s residential housing market has seen substantial rebound, with significant effect on prices. Lowered median home prices have created low inventory and a seller’s market, which in turn impacted distressed properties and neighborhoods. “People are a lot smarter today, having learned from mistakes that occurred in the market; buyers are… [More…]

Industrial Summary: Second Quarter 2014

Southern Nevada The Las Vegas industrial market vacancy rate stood at 10.9 percent by the end of the second quarter of 2014. The latest period represents a decline of 0.9 percentage points when compared to the prior quarter. Compared to a year ago (Q2 2013), industrial vacancies in the Valley have fallen an even more… [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…]

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…]