Monthly Archives: July 2014

Nevada Tops Nation for Debt in Collections

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Close to half of Nevadans have some debt that has been sent to collections, according to a recent study by the Urban Institute and as recently noted on KNPR News. The Silver State tops the list of past-due states, says UI: 47% of Nevada residents with a credit file have reported debt in collections. The District of Columbia and… Read more »

Nevada a Net Plus in State-to-State Migration

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Approximately 7.1 million Americans moved to another state in 2012, according to data from the U.S. Census. That’s more than 2.2% of the U.S. population. As for Nevada, we saw inbound migration of 124,285 people and outbound migration of 98,882 in 2012. The table below shows the inbound and outbound migration of the four states… Read more »

Stewart Square Signs 26-Month Lease

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Mighty River Fellowship signs a 26-month $28,800 lease for 1,200 square feet of retail space inside Stewart Square at 235 N. Eastern Avenue, Suite 112, in Las Vegas. Virtus Commercial’s Matt Feustel represented the lessee and lessor, Partch-Lebovitz Family Trust LLC. The reported average rent equals 92 cents per square foot.

La Farmacia Signs 3-Year Lease Renewal

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La Farmacia signed a 3-year, $66,949 lease renewal for 1,100 square feet of retail space inside Tropicana East Shopping Center at 2470 E. Tropicana Avenue, Suite A, in Las Vegas. Virtus Commercial’s Chris Emanuel and Kammy Bridge represented the lessee and lessor, Tropicana East Shopping Center Phase I LLC. The reported average rent equals $1.69-per-square-foot.

Nevada Construction Employment Up 10.5%

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Nevada construction employment added 5,900 jobs for a 10.5% growth during the last 12 months, reports the Associated General Contractors of America. The state has 62,100 construction jobs in June. For more information, CLICK HERE.

LV Builds $3.4 Billion in Hospitality Projects Through 2016

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Southern Nevada has $3.4 billion in hospitality projects scheduled through 2016, reports the Las Vegas Convention and Visitors Authority. The construction projects will add 3,821 guest rooms and 500,000 square feet to the city’s existing inventory. Las Vegas, as a result, will boast 156,369 guest rooms by the end of 2016. For more information, CLICK… Read more »

DC Building Group Names Mike Montandon Vice President

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Former three-term North Las Vegas Mayor Mike Montandon has joined DC Building Group, a Las Vegas-based privately-held general contractor, as vice president of business development and government affairs. He most recently served as managing partner at Insight Investment Partners, and managing director for Voit Real Estate Services. Montandon currently serves as 2014 president of the NAIOP Southern Nevada chapter.

Las Vegas Q2 Revenue Exceeds Macau for Wynn Resorts

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Wynn Resorts posted slightly weaker-than-expected second-quarter revenue, with its operations in Las Vegas far outstripping the performance from Macau, says Asia Gaming Brief. Revenue was $1.41 billion, up from $1.33 billion in the same period a year earlier. Las Vegas revenue was up 12.5 percent, while Macau rose 3.2 percent. Read the rest, including details on… Read more »

Kitchell Tops-Out $160 Million Siena Campus Tower

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Kitchell recently topped-off a $160-million, five-story tower addition at the Dignity Health-St. Rose Dominican, Siena Campus, at 3001 St Rose Parkway Trail in Henderson. The 220,000-square-foot, 100-bed tower gives the hospital 326 private rooms upon completion in 2016. The project marks part of Kitchell’s ongoing campus expansion, which has also included an expansion of the… Read more »

Party City Signs $1.1 Million Retail Lease Renewal

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Party City signed an 86-month $1,181,565 lease renewal for 10,500 square feet of retail space inside the 17-year-old Rainbow Promenade, on 21.96 acres, at 2051 N. Rainbow Blvd., Suite 4-A, in Las Vegas. Avison Young’s Jackie Young and Liz Clare represented the lessor, CW Capital. The reported average rent equals $1.31 per square foot.