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February 7, 2016

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Eli Segall

Business Reporter

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Story Archive

Libation automation: L.V. investors’ Smartender mixes cocktails at touch of a button
Thursday, Feb. 4, 2016
Barry Fieldman is known in Las Vegas for developing Showcase mall, the retail property decorated with a giant Coke bottle and M&M’s along the Strip. Now he’s on another mission: Overhaul the bartending business with rapid-fire, machine-made cocktails with this invention ...
Investor interest in Las Vegas homes continues to drop
Wednesday, Feb. 3, 2016
In another sign that housing investors are clearing out of Las Vegas, such buyers picked up a larger share of homes nationally than in Southern Nevada in 2015 ...
CVS site on Las Vegas Strip available at steep price
Friday, Jan. 29, 2016
In the latest effort to make millions from the Strip’s lucrative drugstore sector, a CVS has hit the market with a big price tag. Capital Square Realty Advisors is trying to sell ...
Drawn to Chinatown, L.V. developer skips suburbs for latest apartment project
Thursday, Jan. 28, 2016
Las Vegas developers are flooding the suburbs with apartment complexes, and largely avoiding the kind of site where Jonathan Fore is plotting his latest project. His vacant Chinatown-area property is in an urban neighborhood, right near auto-body shops, the Pussycats adult club and ...
Majority of Nevada households remain mired in financial hole, report finds
Tuesday, Jan. 26, 2016
Despite the slowly improving U.S. economy, more than half of Nevada households are locked in “perpetual financial insecurity,” says a new report, as the state ...
Builders sell 6,802 new homes countywide last year, up 13 percent
Monday, Jan. 25, 2016
Las Vegas homebuilders sold more houses last year than in 2014 and geared up for a rising volume of construction, a new report shows. Overall, though, business remained ...
Allegiant Air exec promoted in management shake-up
Friday, Jan. 22, 2016
A week after a top deputy resigned, Allegiant Air boss Maurice “Maury” Gallagher has given the job to an existing executive as part of a management shake-up. Las Vegas-based Allegiant announced ...
Call Mike Tyson your neighbor by buying his former home in Henderson
Tuesday, Jan. 19, 2016
Iron Mike has some flashy new digs. Former boxing champ Mike Tyson recently bought a two-story, 8,149-square-foot mansion in the Seven Hills area of Henderson for $2.5 million, just down the block from his old house. The sales price was 40 percent below what previous buyers paid in 2006, during the real estate bubble. Tyson and his wife, Lakiha, closed ...
Allegiant’s chief operations officer resigns
Friday, Jan. 15, 2016
After a year on the job, one of Allegiant Air’s top executives is stepping down. Steve Harfst, chief operating officer, resigned today after a year on ...
Las Vegas land isn’t dirt cheap, but here’s why it isn’t selling like it once was
Friday, Jan. 15, 2016
Las Vegas once was a hot spot for land speculators, who couldn’t get enough desert tracts to develop or flip to other investors. Sales evaporated with the recession and recovered a bit a few years ago. But today, the land business has ...
In 2015, foreclosure filings climbed in Nevada, fell across U.S.
Wednesday, Jan. 13, 2016
Nevada homeowners were slapped with a rising tally of foreclosure filings last year, bucking a nationwide drop as the state remained among ...
Drugstores galore: Another CVS being built on the Las Vegas Strip
Tuesday, Jan. 12, 2016
The drugstore arms race on the Strip is ratcheting up another notch. Workers are building a CVS store in front of Bally’s. The two-story property is not expected to have ...
Report: Credit scores in Las Vegas near bottom in the nation
Monday, Jan. 11, 2016
In another sign of Southern Nevadans’ weak finances, a new report says Las Vegas residents have some of the worst credit scores in the country. Personal-finance website ...
Home prices dip to end stable year for Las Vegas market
Thursday, Jan. 7, 2016
Las Vegas’ resale housing market ended 2015 with mixed results, with a jump in monthly sales but a dip in prices, which had been flat since summer ...
Q+A: Zillow economist explains why L.V. housing market hasn’t fully rebounded
Thursday, Jan. 7, 2016
Zillow chief economist Svenja Gudell spoke with VEGAS INC this week about underwater homes, their impact on the market and ...
Home sales at 2 Las Vegas communities in top 15 nationwide
Wednesday, Jan. 6, 2016
Two master-planned communities in Las Vegas were among the top 15 nationally for home sales last year, a new report shows. Builders sold 602 new homes ...
Developer scoops up 38-acre IGT campus in southwest valley for $75M
Tuesday, Jan. 5, 2016
Developer Doug Roberts is one of many investors building large industrial properties in the valley without tenants lined up. Now he’s got another big property to shop around ...
Median price for new home in Las Vegas hits $321,405
Wednesday, Dec. 30, 2015
New homes in Las Vegas are selling at prices not reached in more than eight years, according to a new report. But anyone hoping for a quick return to the days of ...
For owner of downtown Las Vegas motel, the time was finally right for new on-site venture
Wednesday, Dec. 30, 2015
A restaurant and bar under construction on the grounds of the City Center Motel is the latest sign that times have changed in downtown Las Vegas. A decade ago, the motel's operators would never have considered such a project ...
Report: Las Vegas wages comparatively low, but housing affordable
Tuesday, Dec. 22, 2015
Southern Nevadans earn lower wages and are seeing a faster rise in home prices than people in most major cities. Overall, however, housing is more affordable than ...
Westin Lake Las Vegas sells for 84 percent less than previous owners paid
Tuesday, Dec. 22, 2015
The Westin Lake Las Vegas hotel, which as a prior brand crashed financially along with the lavish community it’s built in, has a new landlord. The 493-room Henderson resort ...
Analysis: In Las Vegas, the price of new home vs. resale is higher than average
Friday, Dec. 18, 2015
Thinking about buying a new home in Las Vegas? Get ready for sticker shock. The gap between prices of new and resold homes is wider than the national average, which is a pain for homebuilders because ...
After delays, Federal Justice Tower will open next month in downtown
Wednesday, Dec. 16, 2015
Daniel Bogden, Nevada’s top federal prosecutor, has been waiting to move his offices to the new Federal Justice Tower. The downtown office building is under construction across the street from his current office in ...
Maker of sex lubricants moving to Las Vegas
Monday, Dec. 14, 2015
A Southern California company that makes sex lubricants and massage oils, with such products as Boink N’ Oink bacon-flavored lube, is moving to Las Vegas next year. Trigg Laboratories — whose main brand ...
Southern Nevada’s real estate industry being resurrected
Monday, Dec. 14, 2015
Las Vegas’ commercial real estate industry soared with the boom, collapsed with the bust, then was quiet for a few years. Today, business is picking up ...
Q+A: Homebuilder in Rhodes Ranch, Tuscany discusses state of market
Friday, Dec. 11, 2015
Homebuilder Don Boettcher recently spoke with VEGAS INC about Century Communities' developments, as well as the valley’s housing market and the go-go years when ...
Final part of Showcase Mall on Strip sold for $83 million
Wednesday, Dec. 9, 2015
It took them more than a year, but a group of New Yorkers have completed their nearly $370 million buyout of Showcase Mall on the Strip. Jordache jeans founders the Nakash family and real estate investor Eli Gindi recently purchased the roughly 42,000-square-foot section of Showcase, which is known for ...
Report: Used-home prices flat, sales down
Monday, Dec. 7, 2015
Las Vegas used-home prices were flat again last month as buyers drastically cut back on purchases, amid a months-long slowdown in deals, a new report shows. The median sales price ...
Fewer underwater mortgage holders, but Las Vegas still at the top
Wednesday, Dec. 2, 2015
The share of Las Vegas homeowners who are underwater continues to slide, but it remains highest among large U.S. cities. Some 22.1 percent of Southern Nevada homeowners with mortgages were ...
Developer recalls Las Vegas’ mobster past, assesses north Strip’s future
Wednesday, Dec. 2, 2015
"The Cleveland mob, the Detroit mob — Cleveland was the primary one here. You knew what was going on. If you didn’t know, you were stupid," says Irwin Kishner, an 82-year-old developer who has ...
Developer spending millions to halt decay in Las Vegas’ Huntridge area
Wednesday, Nov. 25, 2015
Las Vegas investor J Dapper plans to spend a few million dollars to revive a collection of downtrodden properties clustered around the intersection of Maryland Parkway and Charleston Boulevard. And he’s hoping ...
Site of stalled SkyVue observation wheel for sale on the south Strip
Tuesday, Nov. 24, 2015
After the recession clobbered Las Vegas, real estate investor Howard Bulloch still had big plans for the south Strip, landing approvals to build an amusement park and breaking ground on a 500-foot observation wheel across from Mandalay Bay. “Every airplane that flies in and out of Vegas will fly past that wheel,” he said in spring 2012. Months later, however ...
Report: Troubles in housing market remain like ‘unwanted house guest’
Monday, Nov. 23, 2015
Las Vegas builders sold the fewest homes and pulled the fewest permits in months in October, a new report shows. And while business this year remains above ...
Report finds sluggish growth in Las Vegas rental prices
Friday, Nov. 20, 2015
Las Vegas’ rental market has heated up in recent years, with investors buying cheap homes in bulk to lease out and landlords buying and building apartment complexes. The growth in rental prices, however, is far from ...
Easier in the ’burbs: Why residential development hasn’t taken off downtown
Thursday, Nov. 19, 2015
Developer Eric Cohen spent a lot of time trying to figure out downtown’s housing market and whether he could pull off an apartment project there. His company moved to former bakery Holsum Lofts, immersing itself in the neighborhood as Cohen looked into possible deals. Today, he and partner Doug Eisner are building sprawling apartment complexes around the valley, but nothing downtown. And their company ...
Suburban Las Vegas office tower sells for $18.25 million
Tuesday, Nov. 17, 2015
One of the few office towers in the Las Vegas suburbs has changed hands again, and its price keeps dropping. The eight-story Bank of America building off Rainbow ...
Albertsons seeking to buy back Henderson stores from bankrupt Haggen
Friday, Nov. 13, 2015
Bankrupt grocer Haggen has received offers to buy four of its Southern Nevada stores, leaving its other outposts here apparently on track to ...
Q+A: Urban Chamber leader says international outreach is a key to growth
Friday, Nov. 13, 2015
In 2008, Air Force Lt. Col. Ken Evans was stationed in Iraq when he got a call from a civilian contractor about some stark economic news from ...
Q+A: Convenient location adds luster to Cadence master-planned community
Tuesday, Nov. 10, 2015
When Mark Paris was helping develop Summerlin, a newspaper headline at the time dubbed newly opened Summerlin Parkway the “freeway to nowhere.” Paris now leads ...
Las Vegas home resale prices stagnant in October but surge on the year
Monday, Nov. 9, 2015
Las Vegas resale housing prices stayed flat last month and sales volume slid again, but both were higher than a year ago ...
Ritzy real estate: Here are the most expensive homes sold in Las Vegas this year
Friday, Nov. 6, 2015
Casino developer Gary Primm has been trying for years to sell his Las Vegas compound, listing it for $21 million at one point. The mansion recently drew a bid for $7 million at auction, but it wasn't the only home to get a multimillion-dollar offer in Las Vegas this year. Here's a look at the most expensive home sales in 2015, starting with ...
Work is underway at Alon Las Vegas, formerly New Frontier, on the north Strip
Wednesday, Nov. 4, 2015
Work crews are in action at the Alon Las Vegas site, as the north Strip hotel-casino slowly begins taking shape and a rival newcomer shows little progress next door. Construction of Alon hasn’t started, but ...
Investors still see value in flipping homes in Las Vegas
Wednesday, Oct. 28, 2015
House flippers aren't giving up on Las Vegas, even though profits are sliding here and rising elsewhere. Flipping accounted for 8.7 percent of home sales in Southern Nevada in ...
Walgreens on the Las Vegas Strip draws eight-figure sales price
Wednesday, Oct. 28, 2015
With merchandise such as shot glasses saying “Hangovers are for amateurs” and T-shirts that list “15 reasons why a beer is better than a woman,” the Walgreens at Las Vegas Boulevard and Convention Center Drive isn't your ...
Report: Las Vegas new-home sales, prices up
Monday, Oct. 26, 2015
Las Vegas homebuilders had another boost in business last month, as sales and prices continued outpacing last year’s totals, a new report shows. Builders sold 686 new homes ...
Fresh & Easy closures are the latest change in Las Vegas’ turbulent grocery industry
Friday, Oct. 23, 2015
Fresh & Easy employee Krystal Fox knew something was wrong at her store in Green Valley when she noticed the dwindling meat supply. Also, the place was usually empty. Having six shoppers was considered a “rush day,” Fox said. Now, her employer ...
Allegiant profits soar on higher revenue, cheap fuel
Wednesday, Oct. 21, 2015
The parent company of Las Vegas-based Allegiant Air, an ultra-low-cost carrier that flies from small, underserved cities to warm-weather tourist spots, reported earnings today for ...
Investors buy Summerlin health-club building for $51 million
Tuesday, Oct. 20, 2015
The sales price was the highest nationally this year for a freestanding, single-tenant retail building, according to Faris Lee Investments broker Patrick Luther, who represented ...
Las Vegas’ foreclosure rate rises to No. 2 in the nation, report says
Friday, Oct. 16, 2015
Las Vegas’ foreclosure activity ramped up last month, making the valley one of the hardest-hit areas in the country, a new report shows. One in every 480 homes in Southern Nevada ...
Las Vegas still ranks among nation’s worst for share of vacant houses
Thursday, Oct. 8, 2015
In a sign that abandoned homes still blight Southern Nevada neighborhoods, Las Vegas has a larger share of vacant houses than most U.S. cities and a bigger percentage of homes whose ...

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