• Brentwood Pavilion LLC bought the 7-year-old, 63,759-square-foot Rainbow Sunset Pavilion Retail Center, on 8.98 acres, at 6315 – 6485 South Rainbow Blvd. in Las Vegas for $8 million, or $125.47-per-square-foot, from Nakama LLC/Hillcrest Trust. The neighborhood strip retail center was 60% occupied at the time of sale. CB Richard Ellis’ Charles Moore, Michael Newman and…Read More→

    mrdannyrice
  • Omninet Westbay LP bought the 14-year-old, 107,650-square-foot Westbay Office Park, on 6.57 acres, at 3008 W. Charleston Blvd. in Las Vegas for $7.8 million, or $72.45-per-square- foot, from CW Capital LLC. CB Richard Ellis’ Charles Moore, Michael Newman and Marlene Fujita represented the seller.  

    mrdannyrice
  • Pacifica Real Estate Group bought a 14-year-old, 109,585-square-foot industrial building, on 7.44 acres, inside Hughes Cheyenne Center at 985 Trade Drive in North Las Vegas for $7,475,000, or $68-per-square-foot, from CIP Real Estate. The building is 100% leased by two tenants: Cox Communications and Creative Light Source. Voit Real Estate Services’ Kevin Higgins and Mike…Read More→

    mrdannyrice
  • Creditors of Focus Property Group’s defunct 2,000-acre, 13,500-home Inspirada master-planned community at St. Rose Parkway and Executive Airport Road in Henderson recently agreed to a reorganization plan that gives lenders like JP Morgan Chase a chance to recoup about $335 million. After a year of negotiations, creditors and the court trustee have agreed to a reorganization plan….Read More→

    mrdannyrice
  • Lumberjacks Restaurant signed a 10-year, $1,052,670 lease for 5,800 square feet of retail space inside the 6-year-old, 56,090-square-foot Revere Marketplace, on 7.09 acres, at 965 W. Craig Road in North Las Vegas. Gatski Commercial Real Estate’s Rob Lujan and Jason Simon represented the lessor, Las Vegas Adventure LLC. The reported average rent equals $1.51 per…Read More→

    mrdannyrice
  • 4-D LP bought the 39,750-square-foot Lawyer’s Title Plaza, on 3.06 acres, at 1210 S. Valley View Blvd. in Las Vegas for $2.8 million, or $70-per-square-foot, from LBUBS 2003-C5 Valley View Office LLC. Gatski Commercial Real Estate’s Rob Lujan and Jason Simon represented the seller. The 19-year-old, two-story office building was 71% leased at the time…Read More→

    mrdannyrice
  • Retail Association of Nevada (RAN) is projecting a 6.4% increase in holiday spending based on strong statewide sales for the first eight months of 2011. If Nevadans keep pace with this year’s $764 per person spending estimate, it would generate in $1.5 billion in holiday season sales. “With nationwide sentiments now matching our expectations for improvements of…Read More→

    mrdannyrice
  • The Greater Las Vegas Association of Realtors (GLVAR) named Prudential Americana Group’s Debbie Primack “Realtor of the Year.” Other 2011 GLVAR winners include: Marv Rubin, Today’s Realty (Gene Nebeker Memorial Award); Irene Vogel (Frank Sala Award), and Teri Brenkus, Keller Williams, (the Ronn Reiss Award). Hall of Fame inductees include 2011 GLVAR President Paul Bell…Read More→

    mrdannyrice
  • A Hudson Group-led team recently received approval to develop a shopping area inside McCarran International Airport’s D-Gate rotunda. The mall will consist of six stores: Hugo Boss, Juicy Couture, Guess, Kiehl’s, Tech-On-the-Go Electronics and one other. The new shops will be open within a year. Hudson will spend $2 million on the project, with McCarran investing just over $1 million…Read More→

    mrdannyrice
  • New construction climbed 12% in October to $469.8 billion, reports McGraw-Hill Construction. Gains came from nonresidential building and a slight increase in the housing sector, while nonbuilding construction stayed flat.  Through the first ten months of 2011, total construction was $355.6 billion, down 3% from the same period a year ago. “Construction start statistics from August through…Read More→

    mrdannyrice