Coldwell Banker Premier Realty

The Las Vegas Rental Market

Strengthening throughout 2015 for Single Family and Multifamily Projects
Posted by John McClelland on February 22, 2016 in  Multifamily  Single Family Rental
After many years of flat rental growth (even negative in 2012), single family rentals experienced strong growth for all of 2015, experiencing year-over-year gains of between 2.2% and 5.5% on a monthly basis, measured with average price per square-foot. Marketing times for single family rentals have also been historically low with median days on market dropping to 13 days in the Summer of 2015 and finishing the seasonally weaker December at 26 days, far below the historical peaks of over 40 days.Figure 1: Average Pr... read more
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(Las Vegas - January 5, 2016) – Coldwell Banker Premier Realty (CBPR) recently completed the sale of 32 acres of land at 1525 and 1545 Wigwam Parkway (at Stephanie St. and I-215) in Henderson, Nev.  CBPR represented the seller and Jorant Commercial/Sunbelt Development & Realty Partners represented the buyer, The Wolff Company, based in Scottsdale, Ariz. The Wolff Company intends to develop market-rate multifamily housing and high quality senior living communities on the property. “Henderson ... read more
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Hospitality Cosmopolitan $1,730,000,000 1,000,807 sq.ft 2,995 room hotel and casino Purchased by Blackstone Group from Deutsche Bank Downtown Summerlin Fashion, dining and entertainment 1.6 million sq.ft Shopping opened 2014 Multifamily, hotel The Linq The Linq Promenade includes dining, shopping and entertainment, with a 550-foot observation wheel Hotel is 2,640 rooms Casino is 118,000 sq.ft The observation wheel, called the High Roller, opened in March 2014 Grand Bazaar... read more
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Yes, interest continues
Posted by John McClelland on July 16, 2014 in  apartments  land sales  Las Vegas  multifamily
Class A multifamily continues to be one of the most favored asset classes both nationally and in Las Vegas. In some U.S cities, capitalization rates are as low as they have ever been, particularly in Tier 1 cities with asking cap rates in the 4% - 6% range.1  Clearly some investors believe that they can push rent growth further. One should be cautious of this approach since there is an incentive to add new supply, which has been constrained by recession era risk aversion by both developers and lenders. Neverth... read more
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A few thoughts on Southern Nevada

Inflection points, favored asset classes, new homes and local challenges
Posted by John McClelland on April 23, 2014 in  construction  Las Vegas Global Economic Allian  Multifamily  new home sales  providence las vegas  RCG Economics
Inflection Points For those of you who have lived in or visited Las Vegas in the past few years, the impact of the recession has been quite obvious. For those who have been to Las Vegas recently, there are now some very bright spots in the regional economy that are also obvious. Just several years ago, one could drive down nearly any street in a residential neighborhood and see for-sale signs on at least one home. Things are far different today and while listing inventory is significantly higher than one year ag... read more
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