Raiders land acquisition to boost parking near Las Vegas stadium

Lots of great thing happening as we approach the Raiders arriving in Las Vegas. Check out the latest new from the Las Vegas Review Journal: https://www.reviewjournal.com/business/stadium/raiders-land-acquisition-to-boost-parking-near-las-vegas-stadium-1671117/

Las Vegas home sales fell in the first quarter

The beginning of the year is usually a slow time for the housing market. Before the spring buying season kicks in, everyone’s shaking off the holiday doldrums. It’s cold, and people are waiting……We hope you’re enjoying our content. Subscribe today to continue reading this story, and all of our stories, for just 99 cents. Read the full article below.

Source: https://www.reviewjournal.com/business/business-columns/real-estate-insider/las-vegas-home-sales-fell-in-the-first-quarter-1655764/

Adwerx Enterprise Automated Listing Advertising Program

Online real estate advertising attracts attention not just to the property, but to the Wardley Real Estate brand as well,” added Jed Carlson, CEO of Adwerx. “Our Automated Listing Advertising Program is designed to help active brokerages such as Wardley Real Estate maximize the immediate impact of each property as it is brought to market.

DURHAM, N.C., Feb. 26, 2019 /PRNewswire/ — Wardley Real Estate, an independent real estate firm will launch online ad campaigns for each new property listed with the firm. The program is powered by the Adwerx Enterprise Automated Listing Advertising Program. Adwerx has become the real estate industry standard for creating online marketing campaigns that are designed to go live every time a property comes on to the market.

These ads are optimized for websites, apps, and social media including Instagram. Each property ad incorporates listing photos, property details, and agent contact information. For Wardley Real Estate, these ads will showcase the wide variety of properties available in the Las Vegas area. Property ads capture the attention of potential buyers by existing alongside the online content they consume every day. By creating an ad campaign that blankets the internet during the first week a listing is live, Wardley Real Estate ensures that each property enjoys visibility that goes far beyond traditional listing sites, providing a comprehensive marketing strategy for their seller clients.

Las Vegas is one of the most active markets in the country right now,” said Jeff Sommers, President of Wardley Real Estate. “We needed an easy-to-use program that could handle our online advertising as quickly and efficiently as possible so our agents can spend their time with clients and making sales. Adwerx delivers on all counts.”

In the early 1970s, Lynn Wardley founded his first real estate company. He and Jeff Sommers founded Wardley Real Estate in Las Vegas in 1999 and have grown the company to over 400 agents in four offices serving the entire Las Vegas Valley area. Wardley Real Estate is a member of Leading Real Estate Companies of the World®, giving it a global presence.

“Online real estate advertising attracts attention not just to the property, but to the Wardley Real Estate brand as well,” added Jed Carlson, CEO of Adwerx. “Our Automated Listing Advertising Program is designed to help active brokerages such as Wardley Real Estate maximize the immediate impact of each property as it is brought to market.”

Adwerx is the leader in automated digital advertising, delivering over 16.3 billion ad impressions for clients around the U.S. and Canada in real estate, mortgage, insurance, and other industries. For more on the program, please visit enterprise.adwerx.com.

About Wardley Real Estate
Wardley Real Estate is a locally owned and operated full-service real estate brokerage located in Las Vegas. Founded in 1999 the brokerage has over 400 Realtors® and specializes in Residential real estate in Clark County.

About Adwerx
Adwerx provides Brilliantly Simple Digital Advertising™ for real estate, mortgage, insurance, financial services, and other businesses. Ads powered by Adwerx have received billions of impressions on social media, mobile platforms, and the most widely read news sites. Adwerx has served over 150,000 customers across the U.S., Canada, and Australia and has been named to the Inc. 5000 list of America’s Fastest Growing Private Companies for two years in a row. To see how Adwerx can work for you, please visit www.adwerx.com. Plus, NAR members receive 15% additional impressions on Adwerx campaigns, which can be combined with other eligible discounts. This exclusive benefit is available through the National Association of REALTORS®’ REALTOR Benefits® Program.

SOURCE Adwerx

Related Links

http://www.adwerx.com

Source: https://www.prnewswire.com/news-releases/wardley-real-estate-creates-las-vegas-property-ad-campaigns-through-the-adwerx-enterprise-automated-listing-advertising-program-300801853.html

Social media as a real estate marketing tool

Social media has been a key factor in real estate marketing. Being able to update homebuyers in real-time about listings is an easy way to reach those buyers who are doing every part of the buying process online. As social media continues to be a vital part of our daily lives, finding ways to use the platform to grow your brand and business has shown to be extremely beneficial.

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Powered by Century 21 Gavish Real Estate

For many real estate agents, social media has become a powerful marketing tool to promote listings, reach clients and make important connections within the industry.

It also allows agents to post in real-time and instantly update their followers when a new property hits the market. This is especially important because increasly, homebuyers are beginning their search digitally–according to the National Association of Realtors, 44 percent of homebuyers in 2016 started online.

“We’re in an era where social media is part of our daily lives,” said Iddo Gavish, CEO and founder of Century 21 Gavish Real Estate. “What began as a way to connect family and friends has evolved into much more. Social media can grow brands and businesses, and give consumers the power to engage directly with agents.”

While the benefits of social media marketing can be plentiful, there are potential pitfalls as well. Here is a look at how agents and homebuyers can leverage social media to accomplish their real estate goals.

Tips for real estate agents

Social media offers great networking opportunities and a dynamic platform to feature home listings, but that’s not the only benefit of developing a rapport with potential homebuyers.

“Most importantly, social media helps establish trust with the customer, which is crucial in our industry,” Gavish said. As such, Gavish recommends prioritizing quality over quantity when posting, so as to avoid damaging brand integrity.

Other tips

• Post the right content: “Posting content that is engaging and provides value to the customer is a key element of any social media strategy,” Gavish said. “If you’re not providing valuable content to your audience, they won’t connect with your brand.”

• Be consistent: Create an account that’s specific to your brand and post on a regular schedule. “You want your followers to trust you as a reliable source, so our team posts frequently–at least three to four times a week,” Gavish said.

• Communicate openly: “Social media allows you to interact with clients and potential customers while assessing their needs without having to meet face-to-face,” Gavish said. You can also follow up with potential customers and check-in on the status of their home search.

• Be personable, not personal: “Posting content that isn’t related to the real estate industry is absolutely unacceptable,” Gavish said. “Keep personal posts off your timeline–your client expects your company to be professional, so you must reflect professionalism online.”

• Know your audience: Make a plan that’s designed to reach a specific audience and cater to them. “Trying to reach too broad of an audience is a common mistake. Your feed won’t be appealing to every social media user out there–and that’s okay!” Gavish said.

• Don’t shy away from comments: As a brand, addressing social media comments can be tough–especially when they’re critical or unkind–which is why it’s necessary to approach commenting with tact. “Always be open to feedback, whether it’s good or bad,” Gavish said. “Ignoring comments from users demonstrates that you may not care about the growth and image of your business. Your customers should be your No. 1 priority, and listening and engaging with them in a positive way can prove very advantageous.”

Tips for homebuyers

Looking for a home can be a long and, at times, arduous process, so using social media can help streamline your search.

“Homebuyers should find and follow local agencies through hashtags, demographic searches and word-of-mouth,” Gavish said. Once you’ve found an agency that resonates with you, scroll through its feed and reach out for more information.

Following local real estate agencies is also a great way to learn more about the housing market if you’re new and/or unfamiliar with the area.

Other tips

• Know what you’re looking for: “Agencies frequently feature specific properties to a larger audience, in order to narrow down the clients who would be a perfect fit for the home,” Gavish said. Because of this, buyers should have an idea of what they’re looking for and act quickly when a property strikes their eye.

• Find a feed that speaks to you: “An agent’s feed can tell potential homebuyers a lot about the properties they specialize in,” Gavish said. If you’re following an agent or agency that frequently posts homes that don’t interest you, keep looking until you find an account that better suits your goals.

• Keep an eye out for deals: Exclusive promotions and offers from agency accounts may pop up from time to time, so take advantage when they do.

Source: https://lasvegassun.com/native/2018/apr/27/how-social-media-is-changing-real-estate/

Zillow To Flip Homes In Phoenix, Las Vegas

Flipping homes is become more and more common across the country, and Las Vegas is no different. Chances are you know of someone that is involved in flipping homes, and are curious about the profitability of it. Zillow, the online real estate company, is now getting involved in flipping homes in the Las Vegas market, as well as Phoenix.

Zillow, the online real estate company, is getting into the business of buying and selling homes and will expand its Zillow Instant Offers service to Phoenix during April.

In a press release, Zillow said that it is partnering with three brokerages: West USA  in Phoenix, Berkshire Hathaway HomeServices Arizona & Nevada Properties in Phoenix and Las Vegas, and Coldwell Banker Premier Realty in Las Vegas. Starting in the spring, home sellers in Phoenix and Las Vegas will be able to compare a real estate agent’s market valuation of their home with offers from Zillow and other investors. If Zillow buys the home, it said it would repair and update it as necessary and then list it as soon as possible. A local agent will represent Zillow in the transaction, enabling the agent to earn a commission.

It’s also expanding its Zillow Instant Offers into Phoenix, which is its service in which sellers received investor offers alongside an analysis of the home’s market value. The offer comes within two business days of providing basic information about the house. Zillow starting testing the service in May of 2017  in Las Vegas and Orlando and is now adding Phoenix to the list. Zillow said the program gives real estate agents the ability to get new listings and that via testing, it found most of the sellers who request an Instant Offer sell their home with the agent that did the analysis.

“Even in today’s hot market, many sellers are stressed and searching for a more seamless way to sell their homes,” said Zillow Chief Marketing Officer Jeremy Wacksman in the press release. “They want help, and while most prefer to sell their home on the open market with an agent, some value convenience and time over price. This expansion of Instant Offers and Zillow’s entrance into the marketplace will help us better serve both types of consumers as well as provide an opportunity for Premier Agents to connect with sellers. This is expected to be a vibrant line of business for us and for our partners in the real estate industry while providing homeowners with more choices and information.”

To lead its new and expanding efforts, Zillow also announced it has hired Arik Prawer as chief business development officer — he will be in charge of business operations surrounding Zillow’s participation in the Instant Offers marketplace. Prior to joining Zillow Group, Prawer was most recently Chief Integration Officer at Invitation Homes, a single-family rental owner and operator in the United States. Prawer spent five years prior to that serving in executive leadership roles at large real estate owners and operators in the United States, Zillow said in the release.

Source: https://www.pymnts.com/real-estate/2018/zillow-flip-homes-phoenix-las-vegas/

Are Industrial Values Getting Too High?

When it comes to industrial real estate, how high is too high? People have differing opinions on when the values have gotten too high, but sometimes the numbers are too hard to hide, and you can see for yourself what the gap in the supply and demand has done for the market. Foreign investors remain active, but what about local investors?

Over the last few years, investor interest in industrial real estate has risen to a fever pitch.

Rent growth and cap rate compression are propelling investor interest in industrial properties, according to David Bitner, head of Americas capital markets research with real estate services firm Cushman & Wakefield. He notes that industrial asset values, including capital and appreciation, grew by 13.1 percent in 2017 alone, compared to 7.0 percent overall for all other commercial real estate sectors.

Nationally, the average cap rate on deals involving industrial assets is 5.4 percent for class-A+ product, down from 5.6 percent in mid-2017. That figure, however, is significantly lower in gateway and popular secondary markets. According to a Cushman & Wakefield ‘s latest survey, the cap rate is just 3.8 percent in Los Angeles, the Inland Empire and Orange County, Calif. and 4.0 percent in Seattle.

“With strong demand in primary markets, there’s been a shift (by investors) to development,” Bitner notes. “While we’re seeing a step-up in construction, over time it will slow down, because developers are running out of land.”

The gap between new supply and demand narrowed in the first quarter of 2018, with 32 million sq. ft. of new space completed. The new supply has been rapidly absorbed by users—particularly e-commerce companies—in the race to claim modern distribution space, but still was not enough to satisfy new demand, which totaled 42 million sq. ft.

“Sentiment is so strong for industrial, investors are willing to pay the low cap rates,” Bitner says, pointing out that institutional and foreign investors remain active in primary markets, but high pricing and low yields have forced most private investors out. Institutional investors are willing to pay high prices for low-yield real estate because they are in for the long term and view these investments from a portfolio standpoint, he notes. In fact, “for every $1 invested, there’s $5 chasing it,” Bitner says.

He adds that institutional and foreign investors still gravitate toward eight or nine gateway markets, but he expects to see more liquidity for industrial deals in secondary and tertiary markets in the coming years. The trend already seemed underway in 2017. A report from real estate services firm CBRE noted that in the first quarter warehouse space availability tightened in secondary and tertiary markets.

Mark Glagola, senior managing director with real estate services firm Transwestern, cites Las Vegas, Phoenix and Salt Lake City as secondary markets with attractive industrial fundamentals in the West, Pennsylvania’s Lehigh Valley I-78 corridor in the East, as well as Denver and Indianapolis.

With the current real estate cycle already moving beyond the typical 10 years, investors may wonder when the boom will wind down. Both Bitner and Glagola say the sector still has leg room, at least for another two to three years.

“I personally think commercial real estate is undergoing a paradigm shift,” notes Glagola. “Demand will remain strong, certainly for a couple more years, and I think there’s still opportunities for more upside.” For an investor’s perspective, he concludes, “I wouldn’t be too spooked by the notion of cycle.”

Source: http://www.nreionline.com/industrial/are-industrial-values-getting-too-high

Office, Multifamily Markets Doing Well for CRE

Our economy moves in cycles.  With that comes ups and downs in various industries – including the residential and commercial real estate markets.  Economists and industry professionals make predictions based on vacancy rates, job growth rates, rates of people moving/relocating, etc., to determine how the market will do in the near future.  Currently, the multifamily and office divisions have been doing well.  Learn why in the article below.

 

Fundamentals Rock Solid in Multifamily, Office Markets

Commercial real estate historically has been a cyclical sector, and eight years into a solid recovery, players are having trouble deciding whether to laugh at their good fortune or cry at the thought that prosperity is about to come to an end.
Metro Y-O-Y Rent Growth Y-O-Y Emp. Growth Completions (% of Stock)
Atlanta 2.5% 2.5% 2.6%
Austin -0.4% 2.3% 2.8%
Baltimore 1.6% 1.2% 1.8%
Bay Area–South Bay 2.2% 1.4% 3.2%
Boston 2.3% 1.9% 3.0%
Bronx -0.6% 1.1% 1.4%
Brooklyn -0.6% 1.1% 1.4%
Charlotte 2.3% 2.1% 4.2%
Chicago 1.4% 0.2% 2.4%
Dallas 2.6% 2.7% 2.4%
Denver 2.3% 1.9% 3.2%
Houston 1.2% 0.7% 2.7%
Inland Empire 4.4% 2.5% 0.9%
Jacksonville 4.9% 0.4% 2.0%
Kansas City 1.7% 1.1% 2.2%
Knoxville 2.4% 0.2% 0.8%
Las Vegas 5.8% 2.4% 1.5%
Los Angeles 3.7% 1.3% 2.4%
Manhattan -2.1% 1.1% 1.7%
Miami Metro 1.1% 0.8% 4.3%
Nashville 0.5% 3.1% 4.6%
Orange County 2.9% 0.4% 2.3%
Orlando 5.1% 1.8% 2.8%
Philadelphia 1.9% 1.4% 1.8%
Phoenix 3.5% 1.7% 2.3%
Portland 0.9% 2.4% 2.2%
Queens -0.6% 1.1% 1.7%
Raleigh–Durham 1.6% 2.9% 3.2%
Richmond–Tidewater 2.8% 0.1% 1.9%
Sacramento 8.0% 1.6% 0.5%
San Antonio 0.9% 2.2% 2.4%
San Diego 4.3% 1.1% 1.6%
San Francisco 2.1% 1.5% 2.2%
Seattle 3.1% 2.3% 4.4%
Suburban Dallas 2.8% 2.7% 1.7%
Tacoma 7.1% 1.8% 1.8%
Tampa–St Petersburg 3.1% 1.4% 2.6%
Twin Cities 3.9% 2.1% 2.5%
Washington, D.C. 0.3% 1.4% 2.0%
National 2.5% 1.4% 2.4%
 Source: Yardi Matrix

The rent growth column depicts trailing 12-month rent growth as of November 2017, the job growth column lists the Y-O-Y change as of September 2017, and the supply is Y-O-Y change through November 2017.

 

Which side of the debate holds true depends to a large extent on the economy, which is going on 100 months without either a recession or outsize growth. Changes in policy last year were tempered by the struggle to pass legislation, but we might finally get a chance to see new budget and tax policies and regulatory changes implemented in the coming year. Much like the overall economy, commercial real estate performance has been consistently good this entire decade, and we expect no major changes to multifamily or office in 2018.

Multifamily rent growth has decelerated, and there are concerns about oversupply, affordability and slowing employment growth in some markets, but the overall picture remains bright. Demand should stay strong due to the growing number of Millennial renters and workers, a favorable employment picture and the quantity of downsizing Baby Boomers. It seems as if Millennials have been a topic for a long time, but they are projected to provide a growing source of demand for apartments through the middle of the next decade.

Similarly, although the office market faces many challenges—such as the trend toward smaller and shared working spaces, less physical storage space needed as information is uploaded to the “cloud,” more people working from home and less slack in the labor force—demand is expected to remain healthy in 2018.

Deceleration was the theme in the multifamily market in 2017, as rent growth declined from above-trend levels in 2015 and 2016 in line with the long-term average. By the end of 2017, average U.S. rent growth was 2.5 percent, where it is expected to stay. This slowdown is largely caused by the wave of supply in metros that might be worse if not for months-long project delays due to the construction labor shortage.

The delays are also enabling occupancy levels to remain elevated longer than they otherwise would have. That gives apartment owners more time to absorb existing space. In metros with heavy construction pipelines, particularly high-growth sections of the Pacific Northwest and Sunbelt, occupancy rates will likely level off or decline less than expected.

Metro performance is separating into several categories. Rent growth has flattened in coastal markets such as New York City, San Francisco and Washington, D.C., where rents have become expensive even for professional workers. After a long period of strong gains, rent growth has decelerated in metros in the Pacific Northwest and Western tech corridor—such as Seattle, Denver, Portland and San Jose. Those metros remain in high demand, but technology job growth has slowed and a wave of supply must be absorbed.

Sunbelt and popular lifestyle metros such as Dallas, Austin, Atlanta, Phoenix, Las Vegas, Nashville and Orlando continue to boast strong population gains stemming from corporate relocations and relatively affordable housing. However, construction of high-end units will put a damper on rent growth in the near term. Houston was suffering from energy sector job cuts and oversupply, but rent growth has rebounded in the wake of Hurricane Harvey, with tens of thousands of units temporarily taken out of commission and apartments filled with displaced homeowners.

U.S. office fundamentals have been strong, with positive absorption helping to produce moderate rent growth in major metros. And while new supply has been kept in check at the national level, a wave of deliveries is on tap in coastal metros where demand has been highest. In Manhattan, for example, nearly 7 million square feet of space is under construction, led by the 2.5 million-square-foot 3 World Trade Center and the 1.4 million-square-foot 55 Hudson Yards. Both buildings are scheduled to come online in 2018. San Francisco has 4.6 million square feet in the works, led by the 1.4 million-square-foot Salesforce Tower, and Washington, D.C., has 3.7 million square feet.

Originally appearing in the CPE-MHN Guide to 2018.

 

Source: https://www.cpexecutive.com/post/fundamentals-rock-solid-in-multifamily-office-markets/

Las Vegas’ Biggest CRE Deals of The Year

2017 was a great year for commercial real estate in Las Vegas.  Dozens of big deals closed and several acquisitions and merges were made.  We could describe each deal individually, however, the article below shows the 10 biggest deals.  Local commercial real estate brokers and realtors should be very proud of the market and how it did in 2017.

10 biggest real estate deals of 2017 in Las Vegas

Richard Brian Las Vegas Review-Journal

December 20, 2017 – 12:50 pm
Updated December 21, 2017 – 9:25 am

With 2017 winding down, here are my top 10 real estate deals of the year in Las Vegas.

Criteria included price, size, location, the buyers and the property’s history. And given the valley’s anything-goes real estate market, the backstory is rarely dull.

1. Fontainebleau

The unfinished Fontainebleau has been towering above the Strip since the recession, a constant reminder of Las Vegas’ real estate boom and bust.

Locals have wondered for years about its future. Then, in August, New York developer Steve Witkoff and Miami investment firm New Valley bought the stalled hotel for $600 million.

The seller, billionaire Carl Icahn, had acquired it out of bankruptcy in 2010 for around $150 million and left it largely untouched.

The buyers have not said what they will do with the blue-tinted property, but they’ve taken steps to resume construction and have a new name for the undertaking: Project Blue.

2. Alon site

Casino developer Steve Wynn laid another big bet on the Strip in December, reaching a deal to acquire about 38 acres of land next to Fashion Show mall for $336 million.

The sale, expected to close in the first quarter, largely comprises the former New Frontier site.

Australian billionaire James Packer’s company, Crown Resorts, acquired the site through foreclosure in 2014. His group filed plans for the 1,100-room Alon Las Vegas, but Packer reportedly had trouble raising project funds, and Crown bailed on the project late last year.

3. Raiders land

With the Oakland Raiders moving to Las Vegas, the football team bought 63 acres at Russell Road and Dean Martin Drive for its new stadium, acquiring the land in May for $77.5 million.

The Raiders broke ground on their $1.9 billion domed stadium – a project backed by $750 million in public funds – in November.

Since the 1970s, other projects pitched for the site include a 1,000-space travel trailer park, two eight-story hotels, a high-speed-train station, a three-stadium sports complex and a 2 million-square-foot fashion expo center.

4. World Market Center

The Blackstone Group, an investment giant that’s been buying Las Vegas real estate for several years, picked up a massive property in 2017: downtown’s World Market Center.

The furniture-showroom hall, on Grand Central Parkway at Bonneville Avenue, spans 5.4 million square feet.

New York-based Blackstone acquired International Market Centers, which owned and operated the property as well as 6.8 million square feet of showroom space in North Carolina.

The purchase, for an undisclosed sum, closed in September.

5. Town Square

Town Square Las Vegas changed hands in January, a new chapter for a project that overcame litigation and financial woes after the economy tanked.

New York investment firm TIAA and Chicago’s Fairbourne Partners acquired the roughly 100-acre retail and office complex at Las Vegas Boulevard and Sunset Road, south of the Strip.

The buyers did not announce the purchase price, but records show they obtained a $215.6 million mortgage.

Town Square opened in 2007 but was seized through foreclosure in 2011.

6. Elysian West

Las Vegas’ heated apartment market is showing no signs of slamming on the brakes. Case in point: The Blackstone Group bought the 466-unit Elysian West for $106.5 million in July.

The southwest valley complex opened last year and was 96 percent occupied at the time of sale.

According to the seller, Blackstone paid a record overall price and, at the time, record price-per-unit for a typical “garden-style” apartment complex in Las Vegas. Such properties might span 15 to 20 acres with several buildings.

7. The Gramercy

ManhattanWest, a mixed-use project on Russell Road near the 215 Beltway, was one of many abandoned, partially built projects that blighted Las Vegas after the economy crashed.

But investors bought it in 2013 at a steep discount, renamed it The Gramercy, finished construction and signed apartment and commercial tenants, imploding its stalled condo tower along the way.

In April, they sold its two office and retail buildings for $61.75 million to The Koll Co. and Estein USA. The buildings were said to be 98 percent leased at the time.

8. Panda Express

The billionaire founders of Chinese fast-food chain Panda Express bought four office buildings in Summerlin.

Andrew and Peggy Cherng, co-CEOs of Panda Restaurant Group, bought the 210,000-square-foot complex in September for $47.9 million.

The deal seemed random – Panda Express? – but came as Las Vegas’ office market, while still wobbly from the recession, keeps recovering.

9. Las Vegas Boulevard apartments

Several miles south of the Strip, near the M Resort, Las Vegas Boulevard is a lonely place with vast stretches of desert. Big parcels are for sale, and buyers are largely ignoring them.

One exception: Silicon Valley investor group WTI Inc. bought 46.6 acres at Las Vegas Boulevard at Chartan Avenue in July for $24.5 million.

Clark County commissioners in June approved its plans for a 30-acre, 754-unit apartment complex. The group also laid out plans for retail and other commercial uses.

10. Smith & Wollensky building

Owners of Showcase Mall on the Strip bought a building next door and drew up plans to tear it down for expansion space.

The Nakash family, founders of Jordache jeans, and New York investment firm Gindi Capital bought the Smith & Wollensky building in May for $59.5 million.

According to county documents, they plan to demolish it and construct a four-story, 145,000-square-foot building, expanding Showcase to about 481,400 square feet.

Clark County commissioners approved project plans in September.

Smith & Wollensky, a steakhouse chain, had said in late March that it would move out.

 

Source: https://www.reviewjournal.com/business/business-columns/real-estate-insider/10-biggest-real-estate-deals-of-2017-in-las-vegas/

The Job Duties of a Broker

Commercial real estate brokers take on many challenges and do a lot more than one would think.  The real estate world in itself is a tough industry, and professionals can be very busy.  The article below from Nevada Business Magazine deeply describes the brokerage world and everything that brokers have to do.  You will likely work with a broker at some point in life, so it might come in handy to better understand everything they do.  Give this article a read.

Source: https://www.nevadabusiness.com/2017/11/building-nevada-todays-world-brokerage

Today’s World of Brokerage: What to Know

Larry Singer’s team at Newmark Knight Frank (NKF) has provided services to Ainsworth Game Technology Ltd. for years. First, the commercial real estate brokerage located a Las Vegas site for this gaming machines manufacturer and supplier’s 300,000 square-foot North American headquarters then helped them acquire, through auction, an additional 5-acre parcel from Clark County to square off the property. Having done so, Ainsworth had 5 acres of unneeded land, for which NKF recently helped find a buyer.

These transactions and this ongoing relationship exemplify commercial real estate brokerage work.

“We are advisors and strategic partners with our clients (large and small) on all aspects of commercial real estate ownership; acquisitions and dispositions, leasing, financing, project management, property management, facilities management, transaction management, to name a few,” said Las Vegas-based Michael Newman, CBRE’s managing director for Nevada and the industrial practice leader for the region. CBRE also has a Reno office.

Read More: https://www.nevadabusiness.com/2017/11/building-nevada-todays-world-brokerage/

Stable Development Helps San Gennaro Festival

I love being able to support things around the city and community events with my company, Stable Development.  Las Vegas has tons of events happening all the time, and recently was the 38th anniversary of the San Gennaro Festival.  The article below gives you more details on the event and how much of a success it was.  You will not want to miss this event the next time it happens.

San Gennaro Festival Great Success With Help of Stable Development

Lance Bradford and Stable Development donate $25,000 to bolster the Annual San Gennaro Festival in Las Vegas, Nevada

News provided by Stable Development

Oct 17, 2017, 11:00 ET

LAS VEGAS, Oct. 17, 2017 /PRNewswire/ — Celebrating their 38th anniversary in Las Vegas, Nevada, the San Gennaro Festival is the biggest Italian food and music festival held bi-annually in Las Vegas, Nevada in honor of Saint Gennaro, the Saint of Naples, Italy.

The festival features a wide variety of ethnic food vendors, arts and crafts, home exhibits, pony rides & petting zoo, face painters, live international acts hourly on the main concert stage, and amusement rides and games fun for the whole family. The festivities are always a major attraction in Vegas and are a favorite among many of the patrons, and this last year was a major success. Though their goal is always to out-do the last, this time it was taken above and beyond expectations.

The festival was supported through its expanding following as it’s continually a hit for locals and tourists alike. It shouldn’t come as much of a surprise that parking, traffic, and overall event population have risen as concerns and issues surrounding the event. After having met the goal of attendance exceeding 90k at their second event this year, moving it to larger accommodations was necessary.

Avenue off the 215 and S Durango at 6555 S Riley St. Las Vegas, NV 89148 was selected as an alternative to the previous occasion’s venue. Parking and traffic assistance was generously donated by Lance Bradford, and therein the whole team at Stable Development. Valued at $20k+, the donation ended up being as much a necessity as it was a convenience for the consumers in attendance. It is certain that those who took advantage of the closer parking, clean adjoining facilities, and other related assistance right next door to the festival were thankful for risk and worry-free accommodations!

About Lance Bradford and Stable Development: Lance Bradford has demonstrated himself to be a well-trusted and respected among real estate professionals local and abroad. As his reputation of success and generosity expands nationally, he is transitioning past experiences, and an entrepreneurial spirit to become a valuable partner in several ventures responsible for ensuring their growth and success. Serving as President of a NASDAQ compliant real-estate company that garnered $500 million in the capital and generated over $1 billion in transactions since its IPO in 1999, Bradford has demonstrated great leadership.

Through great leadership, Stable Development has experienced tremendous growth. Conquering eight years of business in Las Vegas, Nevada real estate while enduring one of the worst downturns in its history, Bradford, his team, and their business have become known for its Shared Equity Ownership Model as well as its success. Bradford, through Stable Development, identified a need in their local market and met it with a team that truly understands the City of Lights and beyond.

Learn More About the San Gennaro Festival and Lance Bradford by visiting:

https://lancebradford.info

http://www.sangennarofeast.com

Media Contact: Anthony Harding– 602-740-8334

 

Source: https://www.prnewswire.com/news-releases/san-gennaro-festival-great-success-with-help-of-stable-development-300538008.html