Nevada commercial developers and builders reported that their workloads are full, but not without challenges. “We’re busy. Busy’s good,” said Chet Opheikens, vice president, R&O Construction in Las Vegas. “Busy means we get to employ people. Employed people means community growth, which means increased morale and confidence, factors that allow for a strong … [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...]
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...]
Retail Summary: Third Quarter 2016
Southern Nevada The Las Vegas Valley anchored retail vacancy rate ticked up from 11 percent in Q2, 2016 to 11.1 percent in Q3, 2016. At the end of Q3, vacancy rates were 7.8 percent in power centers, 12.8 percent in community centers and 11.2 percent in neighborhood centers. With the retail market just one point above the 10 percent stabilized rate and taxable retail sales at … [Read more...]
Red Report: November 2015
E Sale, Multi-Family ADDRESS 310 – 400 S. 11th St., 89101 BUYER BDR Cascadia SELLER Norma Jakubowski DETAILS 57 units; $45,947 per unit APN 139-34-712-101 SELLER REP Michael LaBar and Michael Shaffner of Avison Young Sale, Multi-Family ADDRESS 1823 Santa Paula Dr., 89104 BUYER 1823 Santa Paula Apartments, LLC SELLER Eagle Property Partners, LLC DETAILS 12 units; … [Read more...]
Nevada Land Market Continues to Recover
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 has begun to swing … [Read 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 0.5 percentage points. The office market vacancy rate … [Read 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. 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 much … [Read more...]
Nevada Real Estate & Development Report: July 2014
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 … [Read more...]
Nevada Real Estate & Development Report: May 2014
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 Center Point Dr., … [Read 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 industrial market vacancy rate has … [Read more...]
Nevada Real Estate & Development Report: April 2014
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 and Zions … [Read 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 sector reported positive net absorption with 147,900 square feet … [Read more...]
