A top executive with Vici Properties this week reiterated its stance that the Strip is the world’s premiere cash machine.
Eli Segall’s Real Estate Insider column appears Saturdays in the Business section.
firstname.lastname@example.org … @eli_segall on Twitter. 702-383-0342
Southern Nevada’s housing market may have slowed last year, but its range of sales prices, from one extreme to the other, was plenty wide.
The Fontainebleau’s path to opening has received a major boost from Vici Properties and Blackstone.
Southern Nevada’s wheeler-dealer market didn’t disappoint this year, as investors bought hotels, high-priced land and other properties.
Vici Properties, which owns The Mirage’s real estate, entered a lease with Hard Rock International that calls for initial annual rent of $90 million.
The locals-focused casino chain has outlined plans to develop more projects and sell some properties.
The recent decline in rates “has been large,” but homebuyer sentiment “remains low with no major positive reaction in purchase demand.”
The shuttered White Sands is being offered for sale through auction site Ten-X, with a starting bid of $1.5 million.
Redfin CEO Glenn Kelman said the home-flipping sector it entered “is a staggering amount of money and risk for a now-uncertain benefit.”
An industrial park in North Las Vegas sold last month for more than $140 million, after construction finished in September.
Las Vegas has a long history of blowing up buildings to clear space for new ones. And now, a pipeline of big demolitions is set to remake parts of the Strip and other pockets of Southern Nevada.
Southern Nevada’s market appears to be in a logjam, and there’s no telling when it will break through.
Crowds during the race will likely be massive. As seen Friday on Hotels.com, dozens of hotels in the Las Vegas area are sold out that weekend.
New York real estate heavyweight Related Companies is partnering with Wynn to pursue a casino license, with plans for a project in Manhattan.
Buyers in Las Vegas and around the U.S. are hitting the brakes.