Las Vegas Commercial Real Estate

The demand appears to be there, but the quality space isn’t. Thus, retail rents found themselves flat in the second quarter of 2006. According to Colliers International and Restrepo Consulting Group, the Las Vegas valley retail market had a low 2.9 percent second quarter vacancy rate with the market absorbing nearly 250,000 square […]

Owners of the Hughes Center are probably pretty happy as they have 60% of their newest class A office building leases already in hand. Not bad since the $72 million, 11-story, 240,000-sf tower isn’t scheduled for completion until early 2007. Crescent Real Estate Equities is also confident that by the time the building […]

According to a recent report by real estate research firm Real Capital Analytics, the commercial real estate market is cooling. Sales for office, industrial, retail, apartment and hotels rose 14 percent in the first half of 2006 to $155 billion, compared to 62 percent in the first half of 2005.
In the office sector, […]

Longtime stock-car entrepreneur O. Bruton Smith has enjoyed success by building condos at raceways. To date, Smith and his partners at Speedway Motorsports have built 164 condominiums at speedways in Atlanta, Concord, N.C., and outside Fort Worth, Texas. More units are planned for Las Vegas. In March, Smith announced plans to build […]

MGM Mirage has formed a residential real estate sales arm called CityCenter Realty Corp. which will focus on the sale of the approximate 2,800 luxury residences being deveopled as part of Project CityCenter. CityCenter Realty Corp. will allow buyers to purchase direct from the developer. Bob Hamrick, heretofore the broker-owner of Las Vegas’ […]