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May 1, 2016

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Eli Segall

Business Reporter

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Story Archive

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 ...
Report: Las Vegas housing market more stable, predictable
Thursday, Oct. 8, 2015
Las Vegas used-home prices have been largely flat for four consecutive months, a new report shows, and sales volume is sliding. The median sales price of single-family homes last month was ...
Prices for commercial real estate are rising, and buyers are shying away
Thursday, Oct. 8, 2015
Sales of Southern Nevada office buildings, shopping plazas, warehouses and apartment complexes have dropped in 2015 to the slowest pace in years. At the same time, however, prices have soared. Investment sales are by no means grinding to a halt, but market watchers say ...
Almost 900,000 square feet of Summerlin office space placed on the market
Tuesday, Oct. 6, 2015
Las Vegas brokers with CBRE Group last week listed more than 895,000 square feet, spread across 18 buildings, that Hines Interests and Oaktree Capital Management bought in fall 2012 as part of a $119.5 million portfolio purchase ...
As car sales rise in Las Vegas, so do worries about consumer spending
Thursday, Oct. 1, 2015
Las Vegas’ economy is on the mend, but with foreclosures, depleted wages and other issues still bogging things down, it’s far from fully healthy. And yet, there are more and more people driving around town in shiny new cars. Southern Nevadans are gobbling up ...
New-home sales are up from 2014, but report delivers bad news, too
Tuesday, Sept. 29, 2015
Las Vegas homebuilders are selling more houses than last year and ramping up construction plans, but a many issues still are weighing down ...
Luxury Henderson condo complex is sold for more than $38 million
Tuesday, Sept. 22, 2015
Vantage Lofts was a mothballed condo complex, abandoned during the downturn, and after changing hands a few times became one of Southern Nevada’s most expensive rental ...
Speed Vegas breaks ground on 90-acre ‘extreme driving experience’
Tuesday, Sept. 22, 2015
Speed Vegas plans to open a 1.5-mile racetrack at Sloan Road and Las Vegas Boulevard, just off Interstate 15, next spring. Visitors would be able to grab the wheel — or strap in to the passenger seat — of a Ferrari, Lamborghini ...
‘We’re trying to stop the decay’: Effort to fuel redevelopment begins with Sahara Decatur Plaza
Friday, Sept. 18, 2015
At Sahara Decatur Plaza, a once-bustling strip mall, Circuit City’s doors are locked (“Store closing sale,” a sign still says, several years after the retailer shut down) and used-car dealer Charlie Cheap Car hawks vehicles in the parking lot (“No credit? Bad credit? OK!” a banner says). Meanwhile, an armed security guard ...
Nevada’s foreclosure rate is back to No. 1 in the nation
Wednesday, Sept. 16, 2015
The state's foreclosure rate was highest in the country for more than five years until March 2012, a sign of how bad things got after the once-booming real estate market collapsed ...
Investors buy 64 condo units at Sky Las Vegas high-rise on north Strip
Wednesday, Sept. 16, 2015
A 45-story luxury high-rise, Sky is across the street from the mothballed Fontainebleau resort. Pathfinder picked up the remaining units that never sold after the 409-unit tower opened in 2007. The units at Sky, 2700 Las Vegas Blvd. South, were listed for sale in April at a price of ...
Owners putting up big money to save enclosed malls
Some analysts say the malls are relics of a bygone era, but the properties’ owners are invested in bringing them back
Monday, Sept. 14, 2015
Some analysts say enclosed shopping malls are relics of a bygone era, but the properties’ owners are invested in bringing them back to prominence. They have upgraded the buildings and hope new strategies to bring in shoppers will allow them to compete with flourishing shopping centers on the Strip ...
North Las Vegas’ Park Highlands project would be impressive comeback tale
Friday, Sept. 11, 2015
Developer Gregg Wolin has been in the real estate business for 25 years, but few projects have tested his “humanity” and “ethical fiber” as much as Park Highlands in North Las Vegas. The sprawling development ...
Las Vegas climbs in housing confidence rankings
Wednesday, Sept. 9, 2015
Amid slumping confidence nationally, Las Vegas has moved up a list measuring faith in the housing industry, as more renters plan to buy in the next year and more owners feel that ...
August used-home sales down from July, up from last year
Wednesday, Sept. 9, 2015
Las Vegas used-home sales dropped and prices were flat in August compared to July. But compared to the same time last year, business was up, a new report shows. The median sales price ...
Brighter days are in forecast for One Summerlin building
Tuesday, Sept. 8, 2015
Las Vegas’ office market is still slumping from the recession, and at first glance, the pricey new building in Downtown Summerlin seems bogged down with it. The office sector has a roughly 20 percent vacancy rate, higher than all other types of commercial property, and the nine-story ...

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