The Gramercy, initially launched as Manhattan West in 2008, said in March that HMS Holdings Corp., a publicly traded provider of cost-containment solutions for the health care industry, would move in. HMS will take over about 80,000 square feet of space above the soon-to-open DW Kitchen + Market and Alex Stratta Italian Steakhouse.
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Commercial Real Estate
It’s been a busy year for The HC | Hughes Center. Since Blackstone subsidiary Equity Office bought the Class A office park at Paradise and Flamingo roads for $347 million a year ago this week, the investor has quietly made big changes.
When developer Prologis breaks ground Tuesday morning on its 464,203-square-foot Las Vegas Corporate Center No. 19, it will be the first time since the recession that a large-scale, speculative building has been attempted in the local market.
The recent sale of an office building in southwest Las Vegas looks routine on the surface. But brokers involved in the $17.4 million deal say it’s a sign that local commercial real estate has begun transitioning into a more stable market built around long-term investment.
The latest local housing numbers show an ongoing struggle with prepping home sites for development.
An Arizona-based investment firm, Tierra Partners III LLC, has spent $17.35 million to buy the 70,188-square-foot LaPour Corporate Center at 9075 W. Diablo Drive, near the 215 Beltway and Russell Road.
It’s become a local market truism: If you want a new home, prepare to drop $100,000 more than you’d shell out for a resale. But new research — admittedly sought out by home builders — shows that pricing gap may be overstated.
The area’s housing market continues to recover, but don’t expect a breakout year for home sales and permits until 2016 at the earliest.
This month’s sale of the former New Frontier site — once home of the Strip’s most expensive piece of real estate —is giving market speculators new hope that resort corridor land transactions could again become active.
A long-planned apartment community in Green Valley Ranch is finally under construction.
Mike Mixer and Josh Smith of Colliers International’s Gaming Division have listed for sale a 2.33-acre block bordered by Carson and Bridger avenues in the north and south, and Seventh and Sixth streets to the west and east. It’s one of the last properties available downtown, the brokers said.
Retail is rising, the office sector has improved and the industrial market is on track for its best year in nearly a decade.
A routine check on national master-plan sales exposed a slowing new-homes market.
Even as Southern Nevada’s housing market surged ahead in June, one indicator — distressed sales — flashed caution signs.
At left, Red Rock Resort team members (from left to right: Rochelle Gill, Donald Gordon, Kathy Anthis, Rae Simeone and
A revived master plan in Henderson continues to add to its roster of participating homebuilders.
Nevada’s construction sector is building its way out of the basement. Once the leader of the state’s economic collapse, construction is now posting the fastest job-growth rate of any sector.
In another recovery milestone, a new master plan is set to get underway in northwest Las Vegas. Skye Canyon was scheduled to hold its groundbreaking on June 5, making it Southern Nevada’s first big, new residential development to get underway since the recession.
Kevin Burke and Burke Construction Group know something about surviving the Great Recession. Burke, 51, the company’s president and CEO, is celebrating his 25th anniversary with the company, that itself is marking its 30th in Las Vegas.
An East Coast investment firm won a bidding war for a share of a big local shopping center. First Allied Corp. dropped $11.5 million in cash to buy out of receivership a 60,105-square-foot chunk of the 267,000-square-foot Spring Valley Town Center at Flamingo Road and Rainbow Boulevard.
Las Vegas is about to get an edge city - a second downtown that will be distinctly un-Vegas.
Cathy Jones heads the No. 1 woman-owned commercial real estate brokerage firm in Southern Nevada. However, she took a roundabout path to get there.
Southern Nevada’s industrial market stayed in a holding pattern in the first quarter, according to a new report. The sector’s overall local vacancy rate was unchanged compared with recent quarters, at just over 11 percent, said brokerage Avison Young.
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