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Commercial Real Estate

New master-plan community underway in northwest

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.

Local industrial market holds onto the status quo

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.

Redfin opens brick-and-mortar office in Las Vegas

You know your real estate market is bouncing back when new companies swoop in to benefit from recovery. Redfin, an Internet-driven, nationwide residential real estate brokerage, announced April 29 that it has opened a brokerage office in Las Vegas.

Las Vegas commercial real estate sectors looking up

An improving economy boosted Southern Nevada’s commercial real estate markets in the first quarter. A new report from commercial brokerage Avison Young shows improvements in the industrial, office and retail sectors, and gives a few key trends to look for.

Revival happening at Centennial Hills Center

Yet another moribund victim of the recession has snapped back to life. This revival story is happening in northwest Las Vegas, where the 24-acre Centennial Hills Center shut down construction in 2008 after its lender, Lehman Bros., went bankrupt.

Strip drugstore sale one of priciest CVS deals ever

It’s hard to single out the most noteworthy part of the recent sale of a local CVS drugstore. Maybe it’s the deal’s price tag, certainly the most expensive CVS ever sold locally. Perhaps it’s the shop’s location on the Strip just south of Sahara Avenue, which positions it as a harbinger of development to come.