When developers set out to make a commercial real estate vision a reality, they first must get their prospective project plans approved by the jurisdictional agency in which the land falls, the city or county. This is called the entitlement process. Next is the procedure to obtain a building permit followed by construction and final approvals. All of these steps constitute the … [Read more...]
Red Report: September 2017
E Sale, Multi-Family ADDRESS 1011 N. 4th St., 89101 BUYER 1011 North 4th Street Casa Vista, LLC SELLER Casa Vista, LLC DETAILS 23 units; $52,174 per unit APN 139-27-603-003 SELLER’S REP Devin Lee, CCIM and Jerad Roberts of Northcap Multifamily Sale, Land ADDRESS 3919 E. Cheyenne Ave., 89115 BUYER 3919 Cheyenne, LLC SELLER Professional Investors DETAILS 4.9 acres; … [Read more...]
Office Summary: Second Quarter 2017
Southern Nevada Las Vegas Valley’s office vacancy rate in Q2 2017 declined by 1.1 points to 19.2 percent from Q1 2017. Compared to Q2 2016, the office vacancy rate was down 1 point, from 20.2 percent. Vacancy rates ranged from 15.7 percent for Class C space to a high of 23.3 percent for Class A space in Q2. Las Vegas Valley’s office vacancy rate in Q2 2017 declined by 1.1 … [Read more...]
Dermody Properties Completes 546,480 SF Logistics Facility in Las Vegas
LAS VEGAS – Dermody Properties, a national real estate investment, development and management company specializing in acquisitions and development of logistics real estate, recently completed LogistiCenter(SM) at Las Vegas Boulevard, a 546,480-square-foot facility in the North Las Vegas submarket. Coming off its largest quarterly expansion of industrial inventory since the … [Read more...]
Dickson Commercial Group Completes Lease Negotiations on Behalf of Nexus Brands Group on a Flex Building in Sparks
Sparks – Dickson Commercial Group is pleased to announce the successful lease transaction at 1020 S. Rock Blvd, Suite D, Sparks NV. Sheila Colfer, CCIM, and Fred Miller, SIOR, of Dickson Commercial Group (DCG) represented the tenant, Nexus Brands Group, who will operate light manufacturing of electronic components at the site. Nexus Brands leased 4,490 square feet in the … [Read more...]
NAIOP Southern Nevada Presents “The Evolution of Retail”
NAIOP Southern Nevada presents “The Evolution of Retail.” The breakfast meeting is sponsored by Cox Business and features a panel of local experts. NAIOP Southern Nevada is also hosting a Back-to-School Supplies Drive to collect school supplies and monetary donations for Howard H. Hollingsworth Elementary School. Items requested include wide-ruled spiral notebooks, glue … [Read more...]
RSAR Releases July 2017 Existing Home Sales Report
RENO – The Reno/Sparks Association of REALTORS (RSAR) released its July 2017 report on existing home sales in Washoe County, including median sales price and number of home sales in the region. RSAR obtains its information from the Northern Nevada Regional Multiple Listing Service (www.nnrmls.com). During July 2017, the report showed Washoe County had 627 sales of existing … [Read more...]
Southern Nevada Housing Market Stays Hot as Home Sales, Prices Keep Rising
GLVAR Housing Statistics for July 2017 LAS VEGAS – The Greater Las Vegas Association of REALTOR (GLVAR) reported that the increasingly hot local housing market showed no signs of cooling off in July, with home prices and sales continuing to rise while the housing supply keeps shrinking. GLVAR reported that the median price of existing single-family homes sold during July … [Read more...]
Red Report: August 2017
E Sale, Industrial ADDRESS 3110 Venture Dr., 89101 BUYER Pro Point, Inc. SELLER Nevada Builders Venture, LLC DETAILS 8,564 SF; $899,220 APN 139-36-813-008 BUYER’S REP Zac Zaher of CBRE Sale, Multi-Family ADDRESS 150 Hoover Ave., 89101 BUYER The Hoover, LLC SELLER Pinetree, LLC DETAILS 56 units; $38,661 per unit APN 139-34-410-031 BUYER’S REP Devin Lee, CCIM and … [Read more...]
Grand Canyon Development Partners Names Jason Norgan as Project Coordinator
Grand Canyon Development Partners, a Las Vegas-based construction and real estate development and construction management company, announced the hiring of Jason Norgan to serve as a project coordinator. In his new position, he will be responsible for assisting in the management of design, permitting and construction for the first phase of the Credit One Bank class A office … [Read more...]
Nevada Builders Alliance Introduces H-2B Visa Program to Reduce Construction Labor Deficit
CARSON CITY – Nevada Builders Alliance presented its newest program to assist construction and construction-related companies in relieving some of the pressure felt by the shortage of skilled construction workers in Nevada this week at a luncheon in Reno. The H-2B Visa program is the country’s only legal seasonal foreign worker visa program for non-agricultural employers. It … [Read more...]
REALTORS Keep Gaining Confidence in Southern Nevada Housing Market
GLVAR-Lied Institute Survey Shows Nine of 10 Expect Rising Home Prices LAS VEGAS – Local REALTORS continue to gain confidence in the Southern Nevada housing market, with more than nine out of 10 expecting local home prices to keep going up in the next year. This was just one of the findings in the latest Quarterly Sentiment Index released this week by UNLV’s Lied Institute … [Read more...]
Dickson Commercial Group Completes Investment Sale of Sparks Office Building
Sparks – Dickson Commercial Group is pleased to announce the successful sale of the office building located at 175 Salomon Circle. Scott Shanks, SIOR; Dominic Brunetti, CCIM; and Chris Shanks, CCIM, of Dickson Commercial Group (DCG) represented the Seller, 175 Salomon Circle LLC, in the transaction. Tom Fennell, CCIM, of DCG represented the Buyer, Hackmen3, LLC. The two-story, … [Read more...]
Colliers International – Las Vegas Welcomes Property Manager Gawaan Hureskin
Colliers International – Las Vegas is proud to welcome Gawaan Hureskin as Property Manager in the Property Management Department. Prior to joining Colliers, Hureskin spent 13 years in the Federal Housing Division working for the Department of Housing and Urban Development (HUD) in both Chicago and Las Vegas. He previously worked for the Southern Nevada Regional Housing … [Read more...]
Nevada Rural Housing Authority Announces Promotions of Melanie Evans and Grant Brewer
Carson City – Nevada Rural Housing Authority (NRHA) announced that it has recently promoted two individuals within its Homebuyer Services Department: Melanie Evans was promoted from Home At Last specialist to Home At Last team supervisor and Grant Brewer was promoted from Home At Last management assistant to Home At Last specialist. The Home At Last team works everyday to … [Read more...]
National Industrial Developer Dermody Properties Acquires 111,043 SF Class-A Industrial Building in the Silicon Valley
SAN JOSE – Dermody Properties, a national real estate investment, development and management company headquartered in Reno, Nevada and specializing in acquisitions and development of industrial real estate in strategic locations across the United States, recently acquired the 111,043 SF Silicon Valley Industrial Center from a private investor. Located at 6212 Hellyer Ave. in … [Read more...]
National Industrial Developer Dermody Properties Expands to Southern California with Acquisition of 75,960 SF Facility
SANTA FE SPRINGS – Dermody Properties, a national real estate investment, development and management company headquartered in Reno, Nevada and specializing in acquisitions and development of industrial real estate in strategic locations across the United States, recently acquired the Bloomfield Industrial Center located in Santa Fe Springs from a private investor. Located at … [Read more...]
NVAR Report Shows HOA Foreclosures Reduced Nevada Property Values by over $1 Billion
A report from the Nevada Association of REALTORS (NVAR) found that foreclosures by local homeowner associations have reduced property values in the state’s two most populated counties by more than $1 billion. This was just one of the findings in a report released this week by NVAR about issues surrounding foreclosures by homeowner associations and so-called super priority … [Read more...]
CCIM: The Power of the Pin
The CCIM Institute – Certified Commercial Investment Member Institute – celebrates five decades as a professional organization this year. Representing a global community of 13,000 members, more than 50 chapters and 30 countries, CCIM educates and connects the world’s leading experts in investment strategy, financial and market analysis. As the national CCIM Institute … [Read more...]
Office in Nevada: A Perspective Shift
Nearly a decade after the recession left yawning vacancies in office properties across Nevada, buildings are finally beginning to fill. Whether the rising occupancy justifies speculative new development — particularly in the Las Vegas area — remains an open question. Applied Analysis estimates the office vacancy rate in Southern Nevada stood at 19.8 percent in the first … [Read more...]
