Las Vegas
Revived Master Plan Would Bring 15,000 New Homes to North Las Vegas
One of the largest residential projects in the entire state of Nevada has found new life as developers have expressed the intention of breaking ground on a master-planned community in North Las Vegas.
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.
MGM, Hakkasan Group Form JV Hotel Company
MGM Resorts International and Hakkasan Group have partnered before, but now the two companies are taking their relationship to the next level with the creation of MGM Hakkasan Hospitality, a joint venture hotel management company.
Capital Square Realty Buys CVS Store in the Heart of Strip’s Development Boom
The appeal of the country’s second largest pharmacy chain was visible recently when Capital Square Realty Advisors, LLC announced that a company affiliate completed the purchase of a CVS retail facility located on the famous Las Vegas Strip. With the property’s surroundings going through extensive modifications, the move is relevant to the current intensity of the Strip’s real estate market.
Century Communities Acquires Dunhill Homes’ Las Vegas Operations
With the city’s residential market being on an upward trend, some investors have oriented their strategy towards expanding their existing operations in the area. Such a move was recently made by home builder Century Communities. The company recently announced that it had acquired the operations and assets of Dunhill Homes Las Vegas Operations.
Sansone Plans $23 Million Makeover for Boulevard Mall
With the city’s retail market still one of the pillars of its economy, a new refurbishment project was recently announced by commercial real estate firm Sansone Companies. The entity is looking to take an aging Las Vegas shopping center through an extensive renovation process that would add value and revive a once iconic property. Sansone is reportedly set to take The Boulevard Mall retail center through its first major renovation in more than 20 years. The company purchased the property at the end of last year for a fee of $54.5 million.
Former North Las Vegas City Hall Awaits Next Chapter
The former municipal building has a number of attributes that could count for a large number of investors, and upgrades that could be considered important assets. The former City Hall building is located at the center of the redevelopment district and offers great proximity to dining and transportation. The building is also compliant with the Americans with Disabilities Act, offers air conditioning, high-ceilings and wide hallways. The property also features a glass-enclosed atrium.
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, […]
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.
Brookdale Gains 3 Las Vegas Properties in $2.8 Billion Emeritus Deal
Three Las Vegas senior communities were recently involved in a massive merger when Emeritus Corporation was acquired by Brookdale Senior Living. The latter acquired Emeritus in a deal worth $2.8 billion, 1.4 of which consisted of mortgage debt. The two companies agreed a deal that would create the first national senior living solutions company, merging the assets and know-how provided by both entities. With the newly-expanded Brookdale, the company is able to provide a senior living community within 10 miles of 6.5 million seniors over the age of 80.