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In the News

Blackstone to Build Over a Million Square Feet of Industrial Space in Las Vegas

By | Market Watch, In the News

Blackstone’s Link Logistics recently announced plans to build two new projects in North Las Vegas. Desert Palm will feature a 350,000 square-foot facility on Cheyenne Avenue just west of the I-15. The other project, Desert Willow, consists of three buildings totaling 720,000 square feet at Commerce Street and Gowan Road. These new developments reinforce Las Vegas’ growing role as an industrial hub for the southwest United States.

Click here to read more: https://www.reviewjournal.com/business/developer-launching-first-southern-nevada-warehouse-developments-2678189/

Recent $12 Million Land Sale Will Yield Apartments

By | Market Watch, In the News

A recent $12 million land sale was made in Henderson. Local real estate firm, Tru Development Co., teamed up with McCourt Partners to construct a 244-unit apartment complex on the site. “We’re delighted to expand our footprint to an exciting high growth market where we see great potential, ” said McCourt Partners President Jordan Lang. The development site is approximately 6-acres and located along Via Inspirada near Bicentennial Parkway, south of Henderson Executive Airport.

Click here to read more: https://www.reviewjournal.com/business/housing/developers-team-up-on-new-apartment-project-in-henderson-2677661/

Las Vegas Convention & Visitors Authority Sells $120 Million Worth of Land

By | Market Watch, In the News

The Las Vegas Convention & Visitors Authority recently sold a parcel of land for $120 million.  The property is located at Las Vegas Boulevard and Elvis Presley Drive, the former location of the Riviera hotel and casino.  Proceeds from the sale will contribute to the Convention Authority’s $600 million renovation plan. The property was acquired by Claudio Fischer.  Mr. Fischer is a Chilean real estate developer.

Click here to read more: https://www.8newsnow.com/news/local-news/old-riviera-lot-to-be-sold-expansion-on-the-strip-continues/

New High-End Island Community Coming to Lake Las Vegas

By | Market Watch, In the News

Lake Las Vegas will be a completed project in five years. The last phase of the 3,600 home master-planned community is a 60-acre luxury development completely surrounded by water. Named The Island, the community will be accessible by land bridge and feature homes built by Toll Brothers and Blue Heron. Custom lots will also be available. Most of the Lake Las Vegas waterfront lots have already been sold, making The Island a superior destination that buyers have been seeking for years.

Click here to read more: https://www.reviewjournal.com/homes/real-estate-millions/luxury-enclave-the-island-coming-to-lake-las-vegas-2672322/

Las Vegas Housing Market Faces Affordability Crisis

By | Market Watch, In the News

High demand and limited supply created a red hot Las Vegas housing market from 2021 until early 2022. Buyers pulled back this past spring as interest rates rose, making houses even less affordable. Although the market has cooled down, it’s not all bad news. What was once a buying frenzy is now a less stressful experience. Buyers have more time to make decisions and the overall buying process is much smoother. And for the sellers? Houses may sell slower, but sellers are still historically well positioned.

Click here to read more: https://www.reviewjournal.com/business/housing/las-vegas-housing-market-was-affordable-thats-not-the-case-anymore-2666950/

New Casino Resort Approved for the Las Vegas Strip

By | Market Watch, In the News

On October 19th, the Clark County Commissioners approved Tilman Fertitta’s plans for a 43-story, 2,420-room high-end casino resort on the Las Vegas Strip. Located at the southeast corner of Las Vegas Boulevard and Harmon Avenue, the upscale resort will include restaurants, convention space, a spa, a wedding chapel, an auto showroom, and a roughly 2,500-seat theater. Fertitta purchased the 6-acre project site in June for $270 million and plans to demolish the existing buildings on the property.

Click here to read more: https://www.reviewjournal.com/business/casinos-gaming/houston-mogul-tilman-fertitta-gets-approval-for-new-hotel-casino-on-strip-2660364/

Housing Market Still Has ‘a Lot of Wiggle Room’

By | Market Watch, In the News

The housing market remains strong. Robust employment and huge home equity cushions offset increasing mortgage rates. Investors believe there is “a runway for rents to continue to increase, even though home prices have peaked.”

Click here to read more: https://www.realtor.com/news/trends/housing-still-has-a-lot-of-wiggle-room-in-a-recession-even-with-mortgage-rates-near-a-20-year-high/

Broker Price Opinion Whitepaper

By | Market Watch, In the News

What is a Broker Price Opinion?

Why do you need one now?

A Broker Price Opinion (BPO) is an estimate of a property’s market value. A BPO must be developed by a licensed real estate broker to be legally compliant. A Broker Price Opinion differs from an appraisal. A BPO is best suited to estimate the likely sales price, determine a property’s listing price, and may include a marketing plan. An appraisal is used to obtain financing and can only be prepared by a licensed appraiser.

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New Housing Development to be Built Within Red Rock Canyon

By | Market Watch, In the News

On October 4th, the Clark County Commission approved a proposal for a new housing development within Red Rock Canyon. Gypsum Resources plans to construct 429 single-family homes on 671 acres of land on Blue Diamond Hill. The proposed site is approximately 2.5 miles northwest of Blue Diamond Road and state Route 159 within Red Rock.

Read more here: https://www.ktnv.com/news/clark-county-commission-approves-proposed-housing-development-at-red-rock-canyon

Is Las Vegas the Next Tech Hub?

By | Market Watch, In the News

It’s time to bring your family, and more importantly, your business, to Sin City. Venture capitalists, tech founders, and startup CEOs agree that Las Vegas is an up-and-coming technology hub. With gambling revenue bouncing back, the arrival of two major sports franchises, and an increase in migration to the city, Las Vegas is positioned for continued growth.

Read more here: https://www.bloomberg.com/news/articles/2022-09-28/las-vegas-makes-a-pitch-to-lure-california-tech-transplants