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 »
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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 »
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.
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.
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.
Wahoo’s Taco Shop signed a 128-month $903,830 lease for 4,752 square feet of retail space inside the 7-year-old Black Mountain Marketplace, on 3.55 acres, at 76 Horizon Ridge Parkway in Henderson. Gatski Commercial’s Rob Lujan and Jason Simon represented the landlord, Karlin Black Mountain LLC; R.O.I. Commercial’s Brian Sorrentino represented the tenant. The reported average… Read more »
Selman Breitman LLP signed 5-year lease for 3,762 square feet of Class A office space inside Hughes Center at 3993 Howard Hughes Parkway in Las Vegas. Colliers International’s Tom Stilley, Lizz Stilley, Ryan Martin and Patti Dillon represented the lessor, Crescent Real Estate Equities; Schneider Realty Corp.’s John D. Schneider represented the lessee.
Alan Whittington Insurance Associates signed a 3-year, $29,832 lease for 710 square feet of office space inside Pace Plaza, on 4.51 acres, at 7885 W. Sunset Road, Suite 110, in Las Vegas. Commercial Executives’ Soozi Jones Walker and Bobbi Miracle represented the tenant. The reported average rent equals $1.17 per square foot.
Galardi Group Franchise & Leasing signed a 5-year, $462,242 lease renewal for 4,000 square feet of retail space inside the 33-year-old Charleston Square Retail Center, on 6.93 acres, at 4470 E. Charleston Blvd. in Las Vegas. Gatski Commercial’s Laramie Bracken and Joseph Anderson represented the landlord, Charleston Vegas #1 LLC. The reported average rent equals… Read more »