Operations - Las Vegas

  • New Griffin REIT Grabs MGM Campus

    As the residential market continues its climb from the deep canyon created by the recession, the city’s office market is also continuing to improve, generating investor interest. Griffin Capital Essential Asset REIT II, an entity created in 2014, recently completed the purchase of a fully leased office property in the Las Vegas market, the trust’s seventh addition to its portfolio and the first acquisition completed in the state of Nevada.

    17 June 2015 16:34
  • FirstService Residential is Nevada Trails’ New Manager

    FirstService Residential recently expanded its management portfolio as the company secured the property management contract for a Las Vegas area residential community. FirstService is adding the 1,000+ residential units of the Nevada Trails community to its 50 million square-foot property management portfolio. The Florida-based real estate services provider took over management duties at the community starting April 1.

    10 April 2015 19:19
  • Veer Towers Hits $100M Milestone

    Veer Towers recently hit a major sales milestone as the company currently in charge of selling units at the property announced it has sold condos worth more than $100 million. Pordes Residential Sales and Marketing has now completed deals for 225 residential units in the Veer Towers complex since it took over sales operations, in 2013.

    09 March 2015 16:02
  • BH Properties Buys Addison Complex, Plans Makeover

    A Las Vegas commercial property was recently acquired by a Los Angeles-based real estate investment company that plans on repositioning it and adding value. BH Properties acquired the Addison Complex facility for a fee of $2.8 million, from seller VanMeetren Family Limited Partnership. BH Properties worked with David Frear, Senior Vice President of Colliers International during the transaction, while the VanMeetren Family Limited Partnership was represented by Charlie Mack, a president and broker with Mack Realty.

    22 January 2015 20:28
  • Prologis Starts Spec Industrial Project in North Las Vegas

    Developer Prologis has officially begun development on its speculative industrial park at Pecos and Gowan roads, meaning that it is the first property of its kind to be constructed in Las Vegas since the economic downturn. Prologis is gambling on the fact that the local industrial market, still reeling from the fact that Las Vegas was dropped as the possible location of the Tesla Gigafactory that eventually went to Reno, still has need for a large-scale asset.

    24 September 2014 20:13
  • Tropicana Follows Up $200M Renovation With Meeting-Space Makeover

    Tropicana Las Vegas – a DoubleTree by Hilton is currently undergoing major changes at its Tropicana Pavilion, with the facility being expanded for additional space. The entity recently announced that the development process is set for a March 1, 2015 completion. A number of improvements and new features are also planned for the process that aims to bolster the hotel’s convention business appeal in the coming years.

    03 September 2014 21:08
  • IKEA Eyes Spring Valley for First Las Vegas-Area Store

    IKEA has announced that it is developing a brand new Las Vegas-area store, part of its current initiative to significantly expand its operations in the western United States. The Swedish retailer has reportedly filed paperwork with Clark County, Nevada for the construction of a new facility that would be completed by 2016, just 13 miles away from downtown Las Vegas.

    17 July 2014 14:20
  • Asurion to Open Call Center in North Las Vegas; U-Haul Opens Self-Storage Facility

    North Las Vegas is set to receive a considerable economic boost as Tennessee-based tech company Asurion LLC recently announced it is expanding operations in the area. The tech insurance provider will reportedly open a new office in North Las Vegas and will create around 800 new jobs in the next five years. Asurion will hire approximately 500 people in the following year alone, as its opens a call center in an office property located near U.S. Highway 95 and the Las Vegas Beltway.

    28 May 2014 17:25
  • MGM Resorts Unveils Plans for The Park, Promenade Linking New York-New York, Monte Carlo

    MGM Resorts International recently unveiled its plan to round out an important part of the Las Vegas Strip where the company currently operates a number of resorts that are experiencing their own changes. The company has announced The Park, a concept that will take shape on the west side of The Strip that was thought up to bridge the area between New York-New York and Monte Carlo.

    14 May 2014 21:51
  • SolarCity Expands to Nevada, Will Serve Metro Las Vegas Starting this Fall

    The emergence of solar power as a viable option of fueling residences during recent years has been a lucrative enterprise in the California and Arizona, two of the sunniest states in the entire country. Now, Nevada is seeing serious interest from one of the largest companies committed to raising the profile of the alternative energy method of powering homes. SolarCity recently announces that it is vastly expanding its operations in the state of Nevada, and its push will begin with residences in the city of Las Vegas and the neighboring area.

    07 May 2014 20:43
  • MGM Resorts Plans $86M Expansion of Mandalay Bay Convention Center

    Mandalay Bay Resort and Casino has announced plans to expand its Convention Center in a bid to answer the growing demand for meeting space in the city of Las Vegas. Announced plans for the facility would bring the total amount of available convention space at Mandalay Bay to over two million square feet. The cost of the new developments will cost an estimated $66 million.

    01 May 2014 00:05
  • High-end Summerlin Office Property Hits the Market; Gladstein Group Gets Listing

    A rare opportunity for a high-end office acquisition recently presented itself in the Summerlin master-planned community. Sam Gladstein, the president of the Gladstein Group, was named the exclusive sales agent by the Donald W. Reynolds Foundation for the property located at 1701 Village Center Circle. According to a recently issued press statement, the asking price for the listing will stand at around $11.5 million.

    17 April 2014 02:57
  • Vestar Gives The District at Green Valley Ranch in Henderson a $3M Makeover

    By Alex Girda, Associate Editor After a $3 million renovation, Vestar Development  has re-unveiled the District at Green Valley Ranch, a 384,100-square-foot retail center in Henderson, according to rentv.com.  A joint venture of Vestar and Rockwood Capital acquired the property two and  a half years ago in a $79 million deal. Part of Green Valley Ranch, [...]

    16 March 2014 22:02
  • Siegel Group Buys 119-Unit M-F Property Near Strip, Expanding Flexible-Stay Portfolio

    The Siegel Group Nevada, Inc. recently expanded its local apartment portfolio with a purchase near the Las Vegas Strip. The commercial real estate and business development company has completed a deal worth approximately $4.2 million for the apartment property known as Solana Square. The Siegel Group plans to add the newly acquired asset to its Siegel Suites Brand, which currently offers a number of flexible stay residential communities throughout the state of Nevada. With the addition of Solana Square, Siegel Group now operates 23 such communities in the Silver State.

    10 March 2014 01:57
  • Pinnacle Founder Chases Elusive Finish Line for Henderson Condos

    The troubled Vantage Lofts development has had a rocky road to cross over the past few years since its initial stall back in 2007. Since then, it has been flipped from developer to developer, received a number of changes to the initial project, including an idea to turn the condo development into apartment rental units, and still not reached completion.

    18 July 2013 21:27