April E. Adams signed a 3-year, $50,760 lease for 1,700 square feet inside a 52-year-old office building, on 0.23 acres, at 919 E. Tropicana Ave. in Las Vegas. Lee & Associates’ Shawn Barashy represented both the leasee and lessor, Adam A. Warren. The reported average rent equals 83 cents per square foot.
Windermere Prestige Properties has hired seven new agents at its Lake Las Vegas office, including: Barbara Barnett, Vicky Crichton, Joseph Denofrio, Barry Guca, Tammie Harris, Jeff Jonas and Sharla Scharpnick. The agents bring have more than 100 years of combined real estate experience. Windermere Real Estate entered the Las Vegas real estate market in 2004,…Read More→
Commerce Real Estate Solutions, an independently owned and operated member of the Cushman & Wakefield Alliance, today announced that it has hired Dan Palmeri as director of its office properties division. He most recently served as senior associate with the Las Vegas office of Colliers International. Palmeri is a member of the Las Vegas chapter…Read More→
The number of Nevadans that believe the economy is headed in the right direction tripled from 11% in 2010 to 33% last week, reports the Retail Association of Nevada. It’s the first time in the two-year history of the survey that more than 50% of respondents feel that the worst times are over. “Nevadans are…Read More→
VegasTech.com has signed a lease for 21,000 square feet of office space inside an 11-story, 162,000-square-foot building, on 0.48 acres, at 302 E. Carson Ave in downtown Las Vegas. Thompson National Properties and Vulture Fund VIII completed an $11.5 million renovation of the 45-year-old former First National Bank of Nevada office building in 2010. CB Richard Ellis’…Read More→
Clark County’s economic activity continues to expand at a slow pace, reports Cushman & Wakefield-Commerce Real Estate Solutions. Compared to a year earlier, visitor volume was up by 1.7% in December, while gaming revenues were up by 1.2%. Taxable sales for November were 8.6% above those for the same month a year earlier, and residential…Read More→
Shopping center sales will rise moderately in 2012, as banks list reclaimed assets and become more amenable to short sales, says Marcus & Millichap. Sales involving performing shopping centers will remain scarce due to limited for-sale inventory, as opposed to sagging demand, holding cap rates for quality grocery-anchored properties around 8%. Within the single-tenant sector,…Read More→
Roughly 100 mixer trucks will pour the concrete foundation for the 500-foot SkyVue observation wheel on March 1. The attraction at 3951 Las Vegas Blvd. South, directly across from Mandalay Bay, consists of 32, 24-person gondolas with two LED multi-media displays at the center of the wheel, each measuring 50,000 square feet. Norcross Construction is the…Read More→
Johnson Wellness Centers signed a 2-year, $63,081 lease renewal for 2,086 square feet of office space inside the 10-year-old Russell McLeod Office Park, on 2.15 acres, at 3085 Russell Road in Las Vegas. Gatski Commercial’s Rob Lujan and Jason Simon represented the lessor, CRESO LLC. The reported average rent equals $1.26 per square foot.
New construction starts dropped 2% to $402.2 billion in January, reports McGraw-Hill Construction. Both nonresidential building and housing settled back from December, while nonbuilding construction saw a modest gain with the help of new electric utility starts. “For construction starts, 2012 got off slowly, with activity retreating further into the lower half of its recent…Read More→