Among Southern Nevada’s commercial real estate professionals is an elite group of well-educated, experienced, dedicated and charitable individuals called Certified Commercial Investment Members (CCIMs). “Within CCIM there’s camaraderie and a community that I, in 30 years, have not seen in any other organization,” said Christopher McGarey, CCIM, of Berkshire … [Read more...]
Retail Summary: Fourth Quarter 2017
Northern Nevada by NAI Alliance The Reno/Sparks retail market saw mixed results in the fourth quarter of 2017. The total gross absorption was 51,733 square feet during the quarter with 28 tenants opening stores. The largest tenant opening was the 7,000 square foot Verity Fitness in the Northtowne Marketplace near Winco. There was a negative net absorption of 73,122 … [Read more...]
Today’s World of Brokerage: What to Know
Larry Singer’s team at Newmark Knight Frank (NKF) has provided services to Ainsworth Game Technology Ltd. for years. First, the commercial real estate brokerage located a Las Vegas site for this gaming machines manufacturer and supplier’s 300,000 square-foot North American headquarters then helped them acquire, through auction, an additional 5-acre parcel from Clark County to … [Read more...]
Industry Focus: Commercial Real Estate
The commercial real estate (CRE) industry in Nevada has been growing in recent years despite a number of hurdles professionals have overcome. Leaders in commercial real estate recently met at the Las Vegas offices of City National Bank to discuss the challenges and opportunities facing their industry and what’s on the horizon moving forward. Connie Brennan, … [Read more...]
Red Report: April 2017
N Sale, Retail ADDRESS 8043 – 8053 N. Durango Dr., 89131 BUYER Durango SNS, LLC SELLER SSB Propco, LLC DETAILS 11,060 SF; $2,225,000 APN 125-08-817-002 SELLER’S REP Dustin R. Alvino of Marcus & Millichap Sale, Land ADDRESS SEC of Rainbow Blvd. & Ann Rd., 89130 BUYER Herbst Development, LLC SELLER Rainbow Ann 1, LLC DETAILS 1.64 acres; $1.4 million APN … [Read more...]
NAIOP Southern Nevada Chapter Announces Winners of 20th Annual Spotlight Awards
NAIOP Southern Nevada has announced the 2017 winners of the 20th Annual Spotlight Awards. The prominent awards event, held March 4 at Red Rock Hotel & Casino, honored distinguished businesses and individuals connected to the commercial real estate and development industry locally. The awards program is designed to highlight NAIOP members who positively impact the industry … [Read more...]
Construction Milestone Reached at Dermody Properties’ LogistiCenter at Las Vegas Boulevard
Las Vegas – Dermody Properties, a national industrial real estate owner-operator headquartered in Reno, Nevada, announced that it reached a construction milestone with the tilt-up and placement of the first wall panels for its 546,480 SF industrial facility on Las Vegas Boulevard near North Walnut Road. The building will be completed on time by the end of the second quarter of … [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...]
NAIOP Southern Nevada Chapter Announces 2017 Board of Directors and Officers
NAIOP Southern Nevada Chapter Announces 2017 Board of Directors and Officers (Las Vegas) – NAIOP Southern Nevada, the commercial real estate development association, announced its 2017 board of directors and officers. All officers serve a one-year term. The 2017 officers are: • President – Jay Heller, Heller Companies • President Elect – Jeff Foster, Prologis • … [Read more...]
2017 Economic Forecast Event Set for Jan. 20
Who: NAIOP Southern Nevada, the commercial real estate development association and UNLV’s Lied Institute for Real Estate Studies. What: NAIOP Southern Nevada and the Lied Institute for Real Estate Studies, Lee Business School at UNLV presents “Forecast 2017: Looking for a Sign,” featuring a keynote presentation by Dr. Mark G. Dotzour, Real Estate Economist. The event … [Read more...]
Red Report: January 2017
E Sale, Multi-Family ADDRESS 501 S. 10th St., 89101 BUYER Ambleside Properties LLP SELLER T.H. Steele DETAILS 44 units; $32,727 per unit APN 139-34-811-006 SELLER’S REP Michael R. LaBar and Michael L. Shaffner of Marcus & Millichap H Sale, Retail ADDRESS 210 N. Boulder Hwy., Bldg. F, 89015 BUYER Southpoint Apartment, Inc. SELLER WPI-Lake Boulder, LLC DETAILS … [Read more...]
With the Elections Behind Us, What Do You Feel Is America’s Number One Challenge?
“The challenge is to demand that our leaders refocus their energy on creating solutions. The candidates spent months telling us what was wrong with America; now they must guide us on how to make things right” Howard Russell | Managing Partner, Weinberg Wheeler Hudgins Gunn & Dial “I feel the biggest challenge that our country faces is confidence! We need to be … [Read more...]
Industry Focus: Commercial Real Estate Brokers
Overall, commercial real estate (CRE) in Nevada has been seeing an uptick from the recession. However, some markets are recovering more quickly than others and there are still many challenges the industry must face moving forward. Recently, CRE experts met at the Las Vegas offices of City National Bank to discuss the changes, challenges and opportunities, facing the industry in … [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...]
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...]
Red Report: September 2016
E Sale, Multi-Family ADDRESS 5325 E. Tropicana Ave., 89122 BUYER Aspen Square Management, Inc. SELLER Majestic Heights Owner, LLC DETAILS 240 units; $77,500 per unit APN 161-28-102-002 SELLER’S REP Art Carll and Patrick Sauter of NAI Vegas | The Sauter Multifamily Group H Sale, Retail ADDRESS Multiple Properties, 89052 BUYER 3D Investments, LLC SELLER Eastern … [Read more...]
20/20 Visionaries for the Silver State
Perfect vision, otherwise referred to as 20/20 vision, is the ability for an individual to see clearly both in their near field of vision as well as far away. Likewise, a 20/20 executive, such as those featured in the following pages, has a clear vision for their business in both the short and long term. These executives strive to do what is right for their companies, … [Read more...]
If Decades Were to Repeat Themselves, Which One Would You Look Forward to Most?
“The 90’s. The shift in our world with the advent of the Internet, cell phones and MP3 music was transformative to our whole society. (I might buy Apple stock too.)” Stephen Ranck, AIA, LEED AP | Principal/Managing Director, Gensler “Turbulent 30’s pops out at me. The reason being is that tough times create BIG opportunities for those willing to swim against the tide. Also, … [Read more...]
NAIOP Southern Nevada Chapter Announces 2016 Board of Directors and Officers
Las Vegas – NAIOP Southern Nevada, the commercial real estate development association, announced its 2016 board of directors and officers. All officers serve a one-year term. The 2016 officers are: • President – Mike Shohet, Jones Lang LaSalle • President Elect – Sallie Doebler, The Korte Company • Secretary – Rod Martin, Majestic Realty Co. • Treasurer – Jennifer … [Read more...]
Industry Focus: Commercial Real Estate
Commercial Real Estate in Nevada is recovering from a tough recession. Brokers agree that the industry has improved, but some markets are clearly bouncing back more quickly than others. Recently, commercial real estate experts met at the Las Vegas Law Offices of Snell & Wilmer to discuss the factors affecting the overall health of the industry in the Silver State. Connie … [Read more...]
