Devin Lee, CCIM, Jason Dittenber, Jerad Roberts, and Robin Willett, of Northcap Commercial Multifamily, are pleased to announce the recent sale of Merlayne Villas Apartments for $2,800,000 ($87,500/unit). This sale consisted of 32 multifamily units built in 1994, located at 409-417 E. Merlayne Drive in Henderson, Nevada. This off-market transaction closed on August 23, 2018. … [Read more...]
Red Report: September 2018
E Sale, Retail Address 1935 N. Hollywood Blvd., 89156 Buyer TNG Investors Seller Palmer Company-Vacaville Details 7,360 SF; $2.3 million APN 140-22-715-006 Buyer Rep Phillip Dunning, CCIM of Colliers International Seller Rep Brian Fike of Colliers International Sale, Industrial Address 4460 E. Cheyenne Ave., 89115 Buyer Top Street Estate, Ben Hajdun Seller William … [Read more...]
DCG Completes Another Retail Lease at Double Diamond Town Center
DCG is pleased to announce the successful completion of another retail lease at 465 South Meadows Parkway in the Double Diamond Town Center. Senior Retail Broker Gary Tremaine represented the landlord, Double Diamond Town Center, in the lease of 1,200 square feet to tenant, Elite Taekwondo. Currently, there are 5 suites left available for lease, ranging from 1,200 square … [Read more...]
Ecolife Development Makes Unique Renovations for The Stove
New breakfast and brunch spot features creative design elements Ecolife Development, a Southern Nevada developer and construction consultant, recently completed a 60-day buildout on The Stove, a new breakfast and brunch hub in Henderson. Owner and operator of Ecolife Development, Steve Grodkiewicz, renovated the existing property, efficiently making use of recycled … [Read more...]
Smith’s Creates 270 New Jobs with Reveal of Henderson Distribution Center
With the assistance of Las Vegas Global Economic Alliance and partnership with the City of Henderson, Smith’s Food & Drug Stores plans to open a nearly $13.5 million dry-good distribution center in Henderson, Nevada. The grocer will lease the new facility from Panattoni Development, the entity that developed the site. Smith’s Food & Drug will move forward with … [Read more...]
Henderson Takes Flight
It’s the second largest city in the state, but when Henderson residents talk about their city, they talk about community. As a community, Henderson has created a strategic plan to guide growth, looking ahead 20 to 30 years to make sure it’s still a city residents love. People who live in Henderson talk about the active lifestyle, entrepreneurial drive, outdoor recreation, … [Read more...]
Opendoor Changes Homebuying in Southern Nevada
Southern Nevada’s housing market is booming again, but the stress of buying or selling a home is keeping would-be consumers sidelined. Opendoor, a San Francisco-based home buying and selling company surveyed more than 1,000 Las Vegas homeowners and found 31 percent said they would rather get a root canal and 28 percent would rather get a colonoscopy than sell a … [Read more...]
Live-Work-Play Repeat: Mixed-Use Projects Regain Traction
The 45-acre site of the former Park Lane Mall in Reno—about seven times the size of Reno’s Greater Nevada Field ballpark—has sat vacant for ten years but now is about to get made over into a development encompassing residential, retail and commercial components. As of mid-April, ground was slated to break soon on the infrastructure, then the 1,260 apartments to be followed … [Read more...]
Nevada REALTORS Visit France to Show Off Silver State Real Estate Opportunities
LAS VEGAS – Leading REALTORS from throughout Nevada will be showing off real estate and investment opportunities in the Silver State by attending MIPIM, the world’s leading global real estate market, business conference and networking event, being held March 14-17 in Cannes, France. Seven Nevada real estate industry leaders are attending the event this week, representing the … [Read more...]
Office Summary: Fourth Quarter 2016
Southern Nevada Las Vegas Valley’s speculative office vacancy rate in Q4, 2016 increased by 0.1 points to 20.2 percent from Q3, 2016. Compared to Q4, 2015, the office vacancy rate was up 0.2 points, from 20 percent. Vacancy rates ranged from 15.4 percent for Class C space to a high of 28.2 percent for Class A space at the end of Q4. The office market has fluctuated back and … [Read more...]
Nevada REALTORS Helping Others While Honing Leadership Skills
REALTORS from throughout Nevada are helping others while helping themselves improve their leadership skills as part of the LeadershipNVAR program run by the statewide Nevada Association of REALTORS (NVAR). LeadershipNVAR’s Class of 2017 kicked off its year-long program by meeting Jan. 24-26 in Scottsdale, Arizona. The 15-member class of NVAR members from all parts of Nevada … [Read more...]
Spending Power: Nevada’s Retail Market
With the peak holiday spending in their rearview mirrors, Nevada retailers say they are cautiously optimistic about continued growth in 2017. “Retail is trending positive. I’m conservatively bullish and would be happy with one to two percent growth next year,” said Kevin Budny, senior general manager of the Galleria at Sunset in Henderson. “We were comparable to 2015 this … [Read more...]
Commercial Real Estate Market in Southern Nevada Ends 2016 on Upswing
LAS VEGAS – A report released by Xceligent and the Commercial Alliance Las Vegas (CALV) shows the commercial real estate market in Southern Nevada ended 2016 on an upswing, with positive momentum in the office, industrial and retail markets. CALV President Jennifer Ott, CCIM, and a longtime local commercial real estate broker, said most aspects of the industry continued to … [Read more...]
Winners of Henderson’s 17th Annual Economic Development and Small Business Awards Announced
HENDERSON – The Henderson Chamber of Commerce and the City of Henderson’s Economic Development & Tourism department held Henderson’s 17th Annual Economic Development and Small Business Awards Thursday, Nov. 10, at the Green Valley Ranch Resort, Spa & Casino. The awards program recognizes businesses that have impacted the growth of the city in a variety of ways. The … [Read more...]
A Place to Live: Nevada’s Residential Market
Call it flattening or softening or just call it a leveling off – Nevada’s housing market seems to have found an even keel in the second half of 2016, and most professionals in the industry are calling that a good thing. After the housing bubble hit Nevada in the early 21st century when demand outstripped supply and prices rose over weekends and overnight, the inflationary … [Read more...]
Red Report: November 2016
E Project, Office ADDRESS 700 S. 3rd St., 89101 CONTRACTOR OF RECORD OS Construction Services, Inc. DETAILS Rogers, Mastrangelo, Carvalhi & Mitchell, Ltd. (RMCM), a law firm, has broken ground on new headquarters in downtown Las Vegas. The 1.2 acre site will undergo the demolition of an existing building and construction of a new two-story building with Class A finishes … [Read more...]
GLVAR Members Earn National Appointments to Key NAR Committees
LAS VEGAS – Nineteen leading and longtime members of the Greater Las Vegas Association of REALTORS (GLVAR) recently earned appointments to leadership positions with the National Association of REALTORS (NAR). “We’re fortunate and honored that so many of our top local REALTORS have been recognized and appointed by their peers around the country to these national leadership … [Read more...]
Red Report: October 2016
E Sale, Multi-Family ADDRESS 517 N. 28th St., 89101 BUYER Green Tree Apartment, LLC SELLER Las Vegas Apartments, LLC DETAILS 72 units; $54,166 per unit APN 139-36-110-028 SELLER’S REP Devin Lee, CCIM and Robin Willet of NAI Vegas | The Sauter Multifamily Group H Project, Other ADDRESS 655 E. Lake Mead Pkwy., 89015 CONTRACTOR OF RECORD Core Construction DETAILS A … [Read more...]
Retail Summary: Second Quarter 2016
Southern Nevada The Las Vegas Valley anchored retail vacancy rate declined from 11.3 percent to 11 percent in the past 12 months. At the end of Q2, vacancy rates were 7 percent in power centers, 12.5 percent in community centers and 11.8 percent in neighborhood centers. With the retail market just 1 point above the 10 percent stabilized rate and taxable retail sales at … [Read more...]
Commercial Builders: The Rebound and the Growing Pains
Whereas Nevada’s commercial construction industry was all but dead five years ago, today it’s alive, with activity edging up. “We are finally in a period of growth. A lot more work is happening,” said Mac Bybee, president, Associated Builders and Contractors Inc. (ABC), Nevada Chapter, a statewide trade association that provides training, apprenticeship programs, government … [Read more...]
