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February 7, 2016

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Eli Segall

Business Reporter

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Story Archive

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 ...
Could high-end office complex rise downtown across from Las Vegas City Hall?
Thursday, Sept. 3, 2015
Across the street from Las Vegas City Hall, near Goodfellas Bail Bonds (“Free Ride Home, Free T-Shirt, Free Hug”) and Desert Manor apartments (“No guns, knives or weapons allowed on premises”), a cluster of pricey, high-quality office buildings might rise from ...
Why progress on Tivoli Village expansion is bogged down
Thursday, Aug. 27, 2015
Diners and workers at Social Bistro & Wine Bar, a restaurant in Tivoli Village, have a close-up view of the Las Vegas property’s expansion. And lately, staff say, there hasn’t been a whole lot of action. Three buildings are under construction nearby, but one is just a steel frame and ...
Las Vegas home sales surge, rivaling pace of boom years
Wednesday, Aug. 26, 2015
Las Vegas homeowners are selling their properties at the fastest pace since the boom years, but prices remain well below that time ...
Retail options expand: Costco to open Henderson store
Wednesday, Aug. 26, 2015
Costco Wholesale is planning to open a new store in Henderson, where it will build a 150,000-square-foot warehouse offering ...
Caesars stock posts strong gains in wake of restructuring announcement
Monday, Aug. 24, 2015
Amid global stock-market carnage today, shares of Caesars Entertainment Corp. bounced higher after the casino giant announced a restructuring deal ...
Pressure from lenders leads to more foreclosure filings in Nevada
Thursday, Aug. 20, 2015
Nevada had the fourth-highest foreclosure rate in the country in July, behind Florida, Maryland and New Jersey ...
Sorry, investors — house flipping in Las Vegas isn’t what it used to be
Wednesday, Aug. 19, 2015
Southern Nevada remains one of the most popular places in America to flip houses, thanks to flipping-focused reality TV shows and Las Vegas’ lower home prices. But overall ...
Boost in new-home sales shows Las Vegas market on ‘steady upward trend’
Monday, Aug. 17, 2015
Las Vegas builders continue selling more homes than last year in a “slow, stable” uptick in activity. Builders sold 583 new homes in Southern Nevada last month, bringing ...
Mortgages issued by lenders up this year, almost on par with national average
Friday, Aug. 14, 2015
A total of 8,191 mortgages were doled out for home purchases in Southern Nevada in the three months ending June 30, up 8 percent from the same period last year, according to RealtyTrac ...
Developers still see potential in Coyote Springs, plan to revive the housing development
Only a golf course has been built in the 43,000-acre project, which has been stalled for years
Friday, Aug. 14, 2015
Coyote Springs, launched by former powerhouse lobbyist and current prison inmate Harvey Whittemore, has a golf course — a highly ranked one at that — and little else. But it was supposed to be ...
Not again: Report finds Nevada homes among most overvalued
Wednesday, Aug. 12, 2015
Nevada homes not only were the most overvalued in the country at the peak of the housing bubble last decade, but prices are among the most inflated now, new data show. Homes ...
Discount grocer plans 3 new stores in Las Vegas area
Tuesday, Aug. 11, 2015
A discount grocer is giving Las Vegas another try with three new stores, less than a year after a rival pulled out of the market. Save-A-Lot plans to open the first store Thursday at 1120 E. Charleston Blvd. and hold a ribbon-cutting ceremony there on Friday. It expects to open the other stores ...
Summerlin land prices are up, but sales are down in recent months
Tuesday, Aug. 11, 2015
Howard Hughes Corp., developer of the 22,500-acre community, sold 58.1 acres of land in the quarter ending June 30, down 7 percent from the same period last year ...
Las Vegas housing prices dip 0.9 percent in July
Monday, Aug. 10, 2015
Las Vegas resale housing prices dipped last month but remained higher than a year ago ...
House-flipping slows in Nevada, is more lucrative elsewhere
Wednesday, Aug. 5, 2015
House-flipping comprises a bigger share of the real estate market in Nevada than in almost every other state, a new report shows, but the investment tactic is becoming ...
Unification Church opens long-gestating events center
Wednesday, Aug. 5, 2015
The Unification Church has built an events center in Las Vegas that it’s calling “America’s most heavenly place” and “a new beacon of hope,” years after buying the project site and changing plans a number of times — including scrapping a museum dedicated to the late ...
Bump in credit-card debt of Las Vegans almost double national rate
Friday, July 31, 2015
Las Vegas had the second-fastest rate of debt growth among the 25 largest metro areas, Equifax said. The valley trailed — albeit barely — another area synonymous with America’s real estate bust ...
Allegiant’s second-quarter earnings are up 62 percent from last year
Wednesday, July 29, 2015
The airline, with small base fares and a large menu of add-on fees, flew more people in the second quarter compared with a year earlier but, to fliers’ delight, charged less money per ticket ...
Las Vegas ranked last in report on large cities’ housing market health
Wednesday, July 29, 2015
Las Vegas’ housing industry is stronger today than it was after the economy collapsed, but it’s still bogged down by an array of problems — and according to a new report, it’s the unhealthiest market in America. Personal-finance website WalletHub ...
With Ikea building, a major project finally sprouts at Sunset and Durango
Wednesday, July 29, 2015
When Ikea was in talks to buy a big piece of land in Las Vegas, executives wanted to keep it hush-hush. They even gave the deal a code name in honor of Nevada: “Project Silver.” “I named it myself,” Ikea spokesman Joseph Roth said. Ikea, the popular ...
With luxury complex, homebuilder making leap to Las Vegas’ apartment market
Friday, July 24, 2015
The partially built site at Tropicana Avenue and Grand Canyon Drive was supposed to have pricey condos years ago, but previous owners lost the project, dubbed the Mercer, to foreclosure during the recession ...
Home purchases by investors in Las Vegas now on par with national rate
Wednesday, July 22, 2015
Institutional investors — those who purchase at least 10 homes annually — bought 1.9 percent of homes sold in the Las Vegas area in the first half of the year. That’s down from ...
Gordon Silver’s move leaves Hughes Center with swanky, 54,000-square-foot vacancy
Wednesday, July 22, 2015
With stone flooring, glass conference-room walls, a private stairwell and a lounge with ventilation that sucked the cigar fumes from the room, the high-rise headquarters of law firm Gordon Silver conveyed a message of success. It cost a lot to look that good and live that large. But Gordon Silver, hollowed out by waves of defections this year, has moved across town, leaving a gaping hole in ...
Despite hurdles, 2015 has been kind to Southern Nevada homebuilders
Monday, July 20, 2015
Local builders sold 633 new homes last month, bringing the year’s total to 2,993, up 10.7 percent from the same period in 2014, according to Las Vegas-based Home Builders Research ...
Firm buys out partner in The District at Green Valley Ranch
Thursday, July 16, 2015
Almost four years after buying the District at Green Valley Ranch out of foreclosure, a Phoenix real estate firm has bought out its partner on the deal, paying far more than the duo originally spent. Vestar has paid $120 million to ...
Signs point to healthier resale housing market in Las Vegas
GLVAR president says the market overall is 'fairly stable'
Thursday, July 16, 2015
Two types of buyers in particular are fueling the uptick in sales totals: those who went through a foreclosure or short sale years ago and for a long time couldn’t get a mortgage, and those who were beat out by the investors who flooded the valley for housing deals that ...
Allegiant stock bounces back, hits new high after strike averted
Wednesday, July 15, 2015
Allegiant Air’s stock price, pummelled after its pilots threatened to walk off the job a few months ago, has recouped its losses and reached a new high. Shares of parent Allegiant Travel Co. closed today at ...
Q+A: Houses popping up at long-dormant Skye Canyon development on valley’s northwest edge
Friday, July 10, 2015
In the midst of the real estate bubble, developer John Ritter led a group that paid more than half a billion dollars for sprawling desert land in the upper northwest corner of Las Vegas, with plans for a massive community. But he never built a thing and ...
Southern Nevada’s retail market is most saturated in the nation, report says
Thursday, July 9, 2015
A new report, by publisher Directory of Major Malls and mail-services company Pitney Bowes, says Las Vegas has 44.9 square feet of gross leasable retail space per household. That’s highest among the 54 U.S. metro areas with at least 1.5 million residents ...
Office park owners sue Gordon Silver law firm in dispute over unpaid rent
Thursday, July 9, 2015
Owners of the Hughes Center office park, where Gordon Silver occupied three floors totaling about 54,000 square feet, sued the decades-old firm, alleging ...
Home sales and prices rise, but so does number of ignored listings
Wednesday, July 8, 2015
The median sales price of single-family homes in Southern Nevada in June was $220,000, up 4 percent from May and 10 percent from a year ago, according to the Greater Las Vegas Association of Realtors ...
First luxury home being built in Henderson mountains
Monday, July 6, 2015
Ascaya, the long-delayed luxury-home community blasted out of the Henderson mountains, is getting its first house. A groundbreaking ceremony is scheduled Tuesday to celebrate construction of the first home at ...
Bought out of foreclosure, Searchlight airpark could become a draw for RC enthusiasts
Wednesday, July 1, 2015
Bill and Joan Turnbull of Seattle bought the roughly 40-acre property — off U.S. 95 at the southern edge of Searchlight, about 60 miles south of Las Vegas — out of foreclosure for $400,000. They don’t have “hard and fast plans” for the property but are thinking of ...
Commercial real estate is slowly making a comeback, but banks are being more cautious
Monday, June 29, 2015
Southern Nevada’s banks have drastically cut back on construction and development lending since the market tanked. They’ve boosted profits and overall lending, but when it comes to real estate development, bankers aren’t opening the vault nearly as often as they did during the go-go years last decade ...
Vision for Alon Las Vegas, resort on former New Frontier site, is filed with county
Friday, June 26, 2015
Plans filed with Clark County late last month show a two-tower, 1,100-room project called Alon Las Vegas to be built on the 34.6-acre site just north of Fashion Show mall ...

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