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May 24, 2015

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Eli Segall

Business reporter

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Story Archive

Summerlin land prices keep rising, but homebuilders aren’t shying away
Friday, May 15, 2015
Homebuilder Kent Lay knows all too well that Summerlin land isn’t cheap. His company, Woodside Homes, is paying double what it did a few years ago. It’s not alone. Land prices have been climbing at a faster rate in the sprawling Las Vegas community than in the valley at large, with the gap ...
Developer Larry Siegel talks Grand Bazaar Shops, ‘dwell time’ and retail on the Strip
Wednesday, May 13, 2015
The developers of the new retail plaza in front of Bally's on the Strip are betting that, with a not-so-ordinary property, they’ll grab shoppers and tenants in ...
Amid resignations, law firm Gordon Silver figuring out what’s next
Monday, May 11, 2015
The resignations have shrunk the roster of local attorneys at the firm, known for its big bankruptcy practice, and sparked rumors that it’s on the brink of closing ...
Hooters Casino Hotel is snapped up for $53.8 million
Friday, May 8, 2015
The Las Vegas resort famous for its wings, and other things, has been sold. Hooters Casino Hotel, just east of the recently sold Tropicana, has been snapped up by the resort investment company Trinity Hotel Investments of New York.
Henderson man has good reason for building igloo-shaped house
Friday, May 8, 2015
In east Henderson, in a quiet neighborhood with custom homes, equestrian properties and wandering coyotes, Aeron Tozier is building a house that, at first glance, looks like a big, steel igloo. His two-story home — with an attached garage in front — also looks like ...
Sales and prices of used homes rise in April in Las Vegas
Thursday, May 7, 2015
The median sales price of single-family homes in Southern Nevada in April was $212,568, up 3.7 percent from March and 10.7 percent from a year ago, according to the Greater Las Vegas Association of Realtors ...
Fuel-purchasing strategy helps low-cost Allegiant save even more
Thursday, May 7, 2015
The Las Vegas-based discount airline booked a record $65 million in net income in the first quarter, nearly double from a year earlier, despite only a 9 percent rise in revenue. Airlines’ biggest expense is fuel, and Allegiant wasn’t alone in reaping the benefits of cheaper ...
Flipping homes remains profitable — especially outside Nevada
Wednesday, May 6, 2015
House-flipping is still a popular pastime in Nevada, but investors can make a lot more money doing it elsewhere, a new report says. Flipping accounted for 6.4 percent of home sales statewide in the first quarter, the ...
Investors buy almost 360 acres at BLM auction; 240 acres don’t sell
Tuesday, May 5, 2015
BLM auctions are a source of raw land for Las Vegas homebuilders, whose business is picking up steam this year after falling hard in 2014.
Analysis: Judge’s ruling that blocks Allegiant pilots from striking isn’t a surprise
Tuesday, May 5, 2015
Airline pilots face more barriers than almost any other set of U.S. workers to legally go on strike, experts say, and such walkouts rarely occur. One lasted just minutes before ...
Face-lifts at two major malls on the Strip to bring new restaurant, retail offerings
Friday, May 1, 2015
In a bid for diners, two shopping malls in Las Vegas’ resort corridor are getting mini face-lifts to make room for more restaurants. The projects, at Fashion Show mall and Miracle Mile Shops, come as developers ...
Allegiant, Teamsters fighting over executive pay
Thursday, April 30, 2015
The union, which owns a miniscule portion of Allegiant’s stock, is pushing back against the Las Vegas-based discount airline’s $8.5 million payout to former president and chief operating officer Andrew Levy following his resignation ...
Is Chick-fil-A finally coming to Southern Nevada?
Wednesday, April 29, 2015
The popular chicken sandwich chain is in the process of buying a vacant 5,100-square-foot building near Galleria at Sunset mall in Henderson, landlord Julius Ballardini told the Las Vegas Sun ...
Dick’s Sporting Goods coming to Fashion Show mall
Wednesday, April 29, 2015
The sports equipment and apparel retailer plans to open by ...
Retail reimagined: Boulevard mall owner welcomes out-of-the-ordinary tenants
Wednesday, April 29, 2015
The owner of Boulevard mall has lured a call center, an Asian grocery, a pizza-and-games business and a hand-me-down retailer in an effort to occupy long-empty spaces at the aging shopping hub. Goodwill of Southern Nevada, best known for its network of donation centers and its stores with used clothing ...
Tropicana to be sold to Penn National Gaming
Tuesday, April 28, 2015
M Resort operator Penn National Gaming is buying the Tropicana, a classic but money-losing resort, according to an internal letter. The sale gives Penn its first resort in Las Vegas’ main casino corridor ...
Allegiant Air’s flight dispatchers sever ties with Teamsters
Tuesday, April 28, 2015
Allegiant Air’s flight dispatchers have severed ties with the Teamsters, amid a legal battle between the union and the airline over a threatened pilots strike ...
‘Spec is back’: Developers roll dice by launching major warehouse projects
Tuesday, April 28, 2015
In a market with a shortage of big warehouse space, developers are moving in with plans to build a number of major ...
Report: 55 percent of Nevada homes in foreclosure also heavily underwater
Wednesday, April 22, 2015
Being underwater on your mortgage doesn’t necessarily mean you’ll lose your house to lenders. But more often than not, it does in Nevada, a new report shows ...
Allegiant pilots say pay raise hardly a goodwill gesture in labor dispute
Wednesday, April 22, 2015
With Allegiant Air pilots threatening to go on strike, top boss Maurice “Maury” Gallagher seems to be trying one method to keep them happy and in the cockpit: a pay raise ...
New-home sales, prices pick up steam in March
Wednesday, April 22, 2015
The Las Vegas homebuilding industry picked up the pace in recent months as sales volume climbed and developers laid out more construction plans. Builders sold 543 new homes in Southern Nevada in March, bringing the year’s ...
Developers selling 65 condos in bulk at Strip tower
Tuesday, April 21, 2015
Another bulk-condo sale has hit the market in Las Vegas. Developers of Sky Las Vegas, a 45-story luxury residential tower on the north Strip, have listed ...
Allegiant Air lags in passenger satisfaction survey
Monday, April 20, 2015
U.S. airlines get some of the worst consumer reviews of any industry in America, and Las Vegas’ hometown carrier, Allegiant Air, lags below average, a new report shows. Allegiant ranked sixth for passenger satisfaction among ...
Retail rebound: Sahara Pavilion becomes latest major mall to change hands
Thursday, April 16, 2015
Sahara Pavilion, at the northeast corner of Sahara Avenue and Decatur Boulevard, was once a hot spot for Las Vegas retail. Now, it's part of a trend in which Las Vegas strip malls are being snapped up by ...
First quarter shows mixed signals in Nevada’s continuing foreclosure woes
Wednesday, April 15, 2015
One in every 209 homes statewide received a foreclosure-related filing in the three months ending March 31, the third-highest rate in the nation behind ...
Developments in southwest valley rise after years of delays and defaults
Monday, April 13, 2015
As the economy improves, few places are getting as much action. Developers are building or planning to construct apartment complexes, industrial properties, big-box retail and ...
No strike as Allegiant Air, pilots return to court next week
Friday, April 10, 2015
The threatened strike by Allegiant Air pilots, tabled last week by a federal judge, was again put on hold as the union and management tangle in court. Teamsters Local 1224 agreed ...
Ikea starts construction on gargantuan Las Vegas store
Thursday, April 9, 2015
IKEA, the popular Swedish furniture dealer and meatball slinger, broke ground today on a 351,000-square-foot superstore in Las Vegas. Company officials and construction management crews ...
Southern Nevada retailers pull Blue Bell products amid listeria fears
Wednesday, April 8, 2015
Strains of the illness were found in Blue Bell ice cream products made in Texas. At least four of the patients had eaten Blue Bell ice cream, and three died, according to the U.S. Food and Drug Administration ...
Bounce in Las Vegas home sales might signal listings at ‘more realistic prices’
Wednesday, April 8, 2015
Despite a big jump in sales, Las Vegas used-home prices were flat month-to-month, perhaps indicating that fewer sellers are overpricing. The median sales price ...
What’s next for disgruntled Allegiant pilots if strike isn’t an option?
Wednesday, April 8, 2015
When a federal judge put the kibosh on Allegiant Air pilots’ attempted strike last week, just hours after they called it, the aviators were left in a tricky spot ...
Will Sandoval’s praise at IKEA’s Las Vegas groundbreaking soar higher than the sky?
Wednesday, April 8, 2015
Politicians are prone to getting excited for good news, and in Nevada, when it comes to real estate projects, no one gets giddier than the governor. Brian Sandoval has criss-crossed the state for ceremonial groundbreakings to praise developers, their projects and the good things they’re bringing ...
Mountainside Ascaya community getting over-the-top clubhouse
Tuesday, April 7, 2015
Developers of Ascaya, the long-delayed mountain-mansion project in Henderson, are promising to build one of the most luxurious communities in Southern Nevada. To help lure people in, they’re planning ...
Court issues order blocking Allegiant pilot strike
Wednesday, April 1, 2015
A federal judge has tabled a short-lived effort by Allegiant Air pilots to go on strike, an attempted escalation in a lengthy labor dispute that would have grounded ...
Allegiant Air taking on another $37.5 million in debt
Tuesday, March 31, 2015
After going on a borrowing binge last year, Allegiant Air is taking on more debt. The Las Vegas-based discount airline today closed on a loan to borrow $30 million, putting up two Airbus A319 aircraft as collateral. The carrier also obtained ...
Report: Las Vegas homes among nation’s most overvalued
Tuesday, March 31, 2015
Las Vegas’ housing market is one of the most overvalued in the country, as investors pushed up prices amid limited supply and a sluggish economy, a new report says. Fitch Ratings said today that housing demand ...
Report: Nevada among most financially illiterate states
Tuesday, March 31, 2015
Nevada is near the bottom of yet another ranking of Americans’ financial health, with dismal findings of consumer spending habits. The Silver State is second last among U.S. states and the District of Columbia for ...
Luxury Henderson apartment complex, abandoned during recession, ready for sale
Tuesday, March 31, 2015
When Paula Lane toured Vantage Lofts a few years ago, the stylish, mothballed Henderson condo complex was a scary sight. Windows were boarded up, birds were flying inside, upscale appliances had vanished, and air conditioners were caked in dirt. Today, Vantage is fully built and almost fully leased, and having turned things around, the landlord is ...



Poo patrol: Do your duty — or else
Friday, March 27, 2015
As the business manager at Vantage Lofts, an upscale apartment complex in Henderson, Jeffery Arterberry signs renters, manages finances and oversees maintenance. He also puts residents with pets on alert: the posh, pricey property has poop police. Vantage is one of a few Las Vegas Valley residential properties using ...
Las Vegas home prices leave wage growth in the dust
Wednesday, March 25, 2015
Las Vegas’ soaring home prices outpaced wage growth at one of the fastest rates in the nation the past few years. The average weekly wage in Southern Nevada last year was ...
Report: Rising interest rates could dampen home sales
Tuesday, March 24, 2015
Las Vegas homebuilders are seeing more signs of a turnaround, but with borrowing costs poised to rise, sales could fall again, according to a new report. Builders sold 474 new homes in ...
IKEA set to break ground next month on Las Vegas store
Tuesday, March 24, 2015
Fans of Swedish meatballs and self-assembly cabinets are one step closer to retail paradise. IKEA, the popular low-priced furniture chain, has set a ground-breaking date of April 9 for its first Southern Nevada location ...
As home prices slow, tougher for homeowners to get ‘above water’
Thursday, March 19, 2015
Las Vegas’ once-huge rate of underwater homeowners keeps improving, but as price-growth slows, the flow of borrowers escaping upside-down status has ...
Las Vegas foreclosure filings on the rise, report finds
Wednesday, March 18, 2015
Nevada’s foreclosure woes worsened last month as lenders seized more homes than in January and filed more default notices. One in every 569 homes statewide received ...
Comparing the hype: Citicorp then, Tesla now
Tuesday, March 17, 2015
Here’s what people said then, as Citicorp was being lured to Las Vegas, and recently, as Nevada was luring Tesla to build a massive battery plant in Reno, as shown in letters of support, legislative testimony, news articles and ...
Now-vacant banking center at The Lakes once brought hope for Las Vegas economy
Tuesday, March 17, 2015
When the powerful out-of-state company looked to build a big facility in Nevada, there were high-fives all around. Backers said it would diversify the economy, pump in hundreds of technical jobs, lure other big business and improve the area’s image. The governor met with the CEO and, prodded to do whatever it takes, called ...
Rebuilding years in Southern Nevada
Monday, March 16, 2015
After the bubble and burst, Las Vegas’ commercial real estate industry is picking up again. Weak spots remain, but mothballed projects are being completed, warehouse construction is on the upswing, the bloated office
vacancy rate slowly is improving, investors are buying shopping centers at a fast clip, and land sales are climbing ...
CEO exits Las Vegas bank for marijuana startup
Thursday, March 12, 2015
John Sullivan made a name for himself as medical marijuana investors’ go-to banker in Las Vegas. Now, he has left his job and ...


Summerlin-area penthouse sells for a whopping $7.7 million
Wednesday, March 11, 2015
A Canadian real estate executive and his wife bought a penthouse in the opulent One Queensridge Place towers, in what’s reported to be the most ...
Las Vegas trend of homes on market with no offers seen as ‘troubling’
Tuesday, March 10, 2015
Las Vegas used-home prices rose last month, but industry pros are worried by the continued, “troubling” rise in ignored, overpriced listings.

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