The U.S. Department of Housing and Urban Development is holding an auction this Saturday, November 5, at the JW Marriott Las Vegas Resort, 221 N. Rampart Blvd. in Summerlin. Properties can be purchased for $100 down. The event is being conducted by Hudson & Marshall. Auction 1, starts at 11:00 a.m. It’s for owner occupants only. Buyer certifies they have not purchased…Read More→
Gifts for Music signed a 2-year, $25,488 lease for 1,417 square feet of incubator space inside the 26-year-old South Tech Russell Park, on 1.53 acres, at 5720 S. Valley View Blvd., Suite 102, in Las Vegas. Cushman & Wakefield / Commerce’s Susan Borst and Keith Bassett represented the receivership estate lessor. The reported average rent…Read More→
Valley office vacancy fell slightly by 0.5% in the third quarter to 23%, said RCG Economics LLC. Although small and virtually unchanged, this marks the first quarter in five years that vacancy dropped. Put into perspective, the vacancy rate rose steadily since Q3, 2006’s 8.3% rate, but has since hovered around the 23% mark during…Read More→
The industrial market held steady in the third quarter, reports RCG Economics LLC, with no new completions and 16.2% direct vacancy or the same last quarter. Vacancies had previously trended upward during the last 5 years. There was 43,600 square feet of net absorption in the third quarter, with 181,100 square feet of space under…Read More→
J & J Draperies signed a 2-year, $17,850 lease for 1,000 square feet of flex industrial space inside a 37-year-old, two-story office-warehouse building at 2325 Western Ave. in Las Vegas. Cushman & Wakefield / Commerce’s Bill Walsh represented the lessor, Joy Fleming. The reported average rent equals 74 cents per square foot, modified gross.
Stone Mountain Group signed a 1-year, $30,582 lease for 2,571 square feet of office space inside the 8-year-old, two-story Pageantry Flamingo Office Park, on 0.50 acres, at 8879 W. Flamingo Road in Las Vegas. Cushman & Wakefield / Commerce’s Bob Hawkins represented the lessor, Receivership Estate of Joernie LLC. The reported average rent equals 99…Read More→
Diamond Resorts signed a 1-year, $22,924 lease for 2,939 square feet of flex industrial space inside the 8-year-old Cheyenne West Corporate Center, on 2.17 acres, at 2455 W. Cheyenne Ave. in North Las Vegas. Cushman & Wakefield / Commerce’s Susan Borst represented the lessor, South Tech Partners. The reported average rent equals 65 cents per…Read More→
The Nevada economy continues to show mixed signs of improvement, reports Cushman & Wakefield / Commerce Real Estate Solutions. Visitor volume was up in August compared to a year earlier, but total gaming revenues were lower. Taxable sales in July were up by 4.7% above a year earlier. From August to July, Nevada saw a…Read More→
Rocket Fizz signed a 3-year, $82,080 lease for 1,600 square feet of retail space inside Village Square at Peccole Ranch, on 47 acres, at 9410 W. Sahara Ave., Suite 120, in Las Vegas. Cushman & Wakefield / Commerce’s Liz Clare and Jacqueline Young represented the lessor, C-III Asset Services. The reported average rent equals $1.43…Read More→
Hang Chu bought the 38-year-old, 51-unit Alexander Villas, on 1.64 acres, at 722 N. Royal Crest Cir. In Las Vegas for $1.5 million, or $29,411 per unit, from 772 North RC LLC. Cushman & Wakefield/Commerce’s Geoffrey West represented the buyer. The sale price of the 37,704 square foot complex equals $40 per square foot.