Posts Categorized: Uncategorized

Nevada Gaming Sees Strong Growth in September

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Nevada’s nonrestricted gaming licensees reported a total “gaming win” of $1,059,291,018 for the month of September 2019, according to the state’s Gaming Control Board. This amounts to a 6.83% increase compared to September 2018, when licensees reported a gaming win of $991,600,256. For the fiscal year (July 1, 2019 through September 30, 2019), gaming win… Read more »

McCarran Hits 1 Year of Consecutive Growth

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September passenger counts are now out from McCarran International Airport. Traffic soared up by 6.8% from the same month a year ago to more than 4.3 million. This marks 7 months in 2019 with the airport having more than 4 million passengers, and 12 consecutive months of YoY growth in air traffic. To date, 2019… Read more »

Las Vegas Home Prices Up Slightly in September

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A recent report by the Greater Las Vegas Association of REALTORS® (GLVAR) shows home prices in Southern Nevada close to their all-time high. GLVAR reported that the median price of existing single-family homes sold in Southern Nevada through its Multiple Listing Service (MLS) during September was $310,000. That’s up 3.3% from an even $300,000 in… Read more »

Clark Among 109 Newer Majority-Minority Counties

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From 2000 to 2018, 109 counties in 22 states went from majority white to majority nonwhite according to a Pew Research Center analysis. Our own Clark County was among those crossing that threshold, going from 61% non-Hispanic white to just 42% in 18 years. Overall, 293 U.S. counties were majority nonwhite in 2018. Most of… Read more »

February 2019 REITView

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Welcome to our monthly REITView newsletter – where we analyze the latest national trends in real estate investment trusts (REITs) and their implications for investors and the Nevada real estate market. REITs own, and often operate, a pool of income-producing real estate assets. Investors can then purchase a liquid stake in these portfolios – think… Read more »

Local Industrial Market Continues Lateral Pattern

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By Hubble Smith – Las Vegas Business Press The industrial real estate recession continues to move sideways in Las Vegas, with 16.2 percent vacancy in the fourth quarter, John Restrepo of RCG Economics said. It will take at least three years before the industrial market returns to a stabilized vacancy rate of 10 percent, based… Read more »

Seven Hills Surgery Center Sells for $5.6 Million

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Gerald and Reesa Niznick bought the 10-year-old, 16,696-square-foot Seven Hills Surgery Center, on 1.88 acres, at 876 Seven Hills Drive in Henderson for $5.6 million, or $335-per-square-foot, from Seven Hills Medical Center LLC. New Growth Commercial’s Jason Lesley represented the seller; New Growth Commercial’s Bridget Richards represented the buyer.

Banks press for changes to 2011 foreclosure law

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By DAVID McGRATH SCHWARTZ Las Vegas Sun Foreclosures in Nevada could spike next year if lawmakers and banks roll back a bill passed in 2011 that played a large role in stymieing banks’ attempts to retake homes from Nevadans, according to the state’s banking association president and housing analysts.  READ THE ARTICLE.  

Russell Gateway Center Sold for $1.85 Million

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Main Street-Santa Ana LLC bought the 7-building, 48,415-square-foot Russell Gateway Professional Center, on 4.1 acres, at 4020-4080 E. Russell Road in Las Vegas for $1.85 million, or $38-per-square-foot, from Russell-Gateway LLC. CB Richard Ellis’s Charles Moore and Marlene Fujita Winkel represented the seller.