Monthly Archives: May 2012

Hot Air Over Gas Prices

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Well done story by Dean Baker of the  Center for Economic and Policy Research and Bruce Bartlett, economist with the Treasury Department under George H.W. Bush, on gas prices: By Dean Baker and Bruce Bartlett* There is a serious risk that way too much time will be wasted in the fall presidential campaign on arguments… Read more »

Lisa Brady To Manage Local Faris Lee Office

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Lisa M. Brady has been named managing director of Faris Lee Investments’ Las Vegas office. She most recently served as senior vice president at Sun Commercial Real Estate. Brady has also served as managing director of the investment sales and leasing division for Gatski Commercial.

Boulder City Shopping Center Sells for $2.3 Million

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Los Posados Plaza LP bought the 30-year-old, 26,192-square-foot Los Posados Shopping Center, on 2.04 acres, at 802 Buchanan Blvd. in Boulder City for $2,277,250, or $87 per square foot, from GMACCM Note #802 LLC Trust. Anchored by a Vons grocery story, the center was 79% occupied at the time of sale. Marcus & Millichap’s Chris… Read more »

Faris Lee Names Katie Brase Director

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Faris Lee Investments named Katie Brase as director.  She most recently served as an investment sales and distressed assets associate for Sun Commercial Real Estate.  Brase is a Certified Commercial Investment Member (CCIM) and a NAIOP Developing Leader.

ViaWest Joins Golden Triangle Park

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ViaWest, one of the nation’s largest private data centers, recently signed a 10-year lease to occupy a 5-year-old, 112,240-square-foot standalone building, on 6.39, inside the Golden Triangle Industrial Park at 3330 E. Lone Mountain Road in North Las Vegas. The space was formerly occupied by APG International. CB Richard Ellis’ Donna Alderson and Greg Tassi… Read more »

Construction Confidence Reaches Record High

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Nonresidential construction rose 1.7 index points in the second quarter, reaching it highest confidence rating since 2007, reports FMI, a Raleigh, N.C.-based industry consultancy firm. Although backlogs remain about the same at a median of eight months, all markets, with the exception of education construction, are expected to improve slightly over the next quarter. Productivity… Read more »

Focus Breaks Ground on Pahrump Senior Complex

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Focus Property Group recently broke ground on a $7.2 million, 49,455-square-foot assisted living and memory care facility, on 3.41 acres, at 1554 Java Ave. in Pahrump. The two-story, 71-unit complex consists of studio and one-bedroom units from 376 square feet to 500 square feet in size. Integral Senior Living of Carlsbad, Calif., will manage the… Read more »

NAR: Commercial Real Estate Rebound Continues

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Amid a backdrop of moderate-but-positive economic growth, demand for commercial space is rising and availability is declining across all property types, reports the National Association of Realtors. A main driver of the rebound comes from low levels of new construction in recent years, preventing a run-up in supply as well as rising office using employment,… Read more »

Report: Local Economy Sees Uneven Growth

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Clark County’s economy showed uneven signs of growth in April, reports Cushman & Wakefield-Commerce Real Estate Solutions. Compared to a year earlier, visitor volume was up by 3.1% in March but gaming revenue dropped 12.2%. Both commercial and residential construction permits rose from February to March, yet employment only rose a scant 0.8% or 6,300… Read more »

NV Energy’s Tom Drescher Earns CCIM Designation

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NV Energy’s Tom Drescher III recently became a Certified Commercial Investment Member (CCIM). The designation is awarded upon successful completion of an intensive analytical curriculum and presentation of a portfolio of qualifying experience demonstrating concept mastery through real-world success. Drescher has been senior administrator of property management for NV Energy since 2007.