Las Vegas Real Estate News

Panel of bankers address commercial real estate group

Interest rates were discussed during a Financial Trends Forecast panel discussion sponsored by the Commercial Real Estate Women Las Vegas, also known as CREW Las Vegas. All the bankers see a small rise in interest rates at the year. Economists are calling for a quarter-percent increase before the end of the year, a quarter percent in the second quarter of 2017 and another in the fourth quarter.

Commercial Real Estate

Las Vegas’ commercial real estate retail sector is forecast to reduce vacancy and boost average lease rates through the end of 2016. The valley’s retail sector vacancy rate is expected to decrease by 9.5 percent this year. Following back-to-back annual gains in average asking rents, retail lease rates in Las Vegas are expected to improve in 2016 by 2.5 percent to reach $16.80 per square foot. THIS IS THE TIME TO PURCHASE RETAIL.

Top Commercial Pick

Strip Center
Las Vegas, NV
Community Strip Center, 51 parking spaces, Upside potential,All leases mon to mon, Seller may carry.
Price:  $1,050,000
Cap Rate:  7,862 SqFt
Property Type:  Retail “mom & pop”

This Week’s Top Pick (3/2/2 $122k) – Needs about $9k in repairs

Top Pick

Property Management Software Change November 1st

We have selected Appfolio as the software management platform we will implement over the winter. Data will be ported over starting in October and November we will start operating with a few properties. Our goal is to have 100% of the properties operating under the new system by December 1st. December is the slowest part of the season so we will have time to educate our clients, tenants and staff. The software will be more reliable, easier for owners & tenants to use and save money. HOWEVER, there will be some hiccups so please hang with us during the holidays.

Building Rehab In Progress

Building Rehab14469533_10210559174716445_847281674219123024_n.jpg

Our office remodel is nearly completed. Signage and asphalt are next. Everything should be completed by October 20th. 

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