Las Vegas Commercial Real Estate

Not to state the obvious, but Nevada is growing. In fact, the state’s population projections have it growing at a rate of 114% through 2030. That’s a lot when you note that the U.S. population, on average, is expected to grow only 29% through 2030.
It’s good news in more […]

While residential construction declined for the sixth month in a row, there was some good news. The Commerce Department reported that spending on government building projects rose by a strong 0.9% to a record of $273.2 billion. The increase appears to reflect a 1.1% jump in spending for state and local projects, which […]

Rising materials and construction costs are plaguing LV developers, driving up the price tag on several projects. One such example is the MGM Mirage’s Project CityCenter whose initial project budget two-years ago was $5 billion. Today, it has already revised to $7 billion.
Other projects, have taken a more […]

Restrepo Consulting Group released a report indicating thatSouthern Nevada’s retail market dropped to a near record low 3% vacancy rate in third quarter 2006. This was half a percent below the rate a year ago. Also in third quarter, the Las Vegas Valley’s retail inventory grew to 36.4 million square feet which added […]

The Las Vegas Business Press is reporting that city officials are discussing the possibility of a “Tourism Improvement District” on downtown’s 61-acre Union Park site. If instituted, it would allow business construction to be financed by sales tax revenue.
City officials hope to increase current levels of retail development and see the tax […]