Nevada

City of Henderson Approves Development Plans for $50M Retail Project in Metro Las Vegas

by Amy Works June 6, 2025

HENDERSON, NEV. — The City of Henderson has approved development plans for The Cliff, a $50 million open-air retail and dining destination located in Henderson, roughly 15 miles outside Las Vegas. A 100,000-square-foot office complex on the property will be redeveloped into a pedestrian-friendly, retail-oriented environment that will feature landscaped courtyards, breezeways, public art, live music and a kiosk village named “The Yard.” Serving as the gateway to the Green Valley Ranch master-planned community, The Cliff will be Henderson’s first retail development in more than 20 years. Construction is expected to begin in October, with a grand opening scheduled for fall 2026. A partnership between San Diego-based CAST and Los Angeles-based Partners Capital will be leading the project. Dubbed as Southern Nevada’s first “anti-mall,” the project aims to replace the traditional strip mall and big-box retail model with a walkable, community-centric gathering place.

June 6, 2025

Market Reports Multifamily Nevada Western Western Market Reports

Las Vegas Multifamily Enters a New Era of Growth Opportunity

by John Nelson June 3, 2025

— By Adam Schmitt of CBRE — The Las Vegas multifamily market is experiencing a significant transformation that’s shaped by new construction trends and evolving market dynamics. As the city continues to expand and adapt, it is essential for current investors, developers and capital allocators to understand the opportunities and barriers for growth. The multifamily market has seen substantial fluctuations since the onset of COVID-19. Rents surged by 24.6 percent in 2021, buoyed by government interventions. However, as these supports diminished, vacancy rates rose sharply, climbing from an average of 3.4 percent in 2021 to 7.35 percent in 2023. Recent trends, however, indicate a recovery. Vacancy rates have decreased to 6.5 percent as of February, which hint that multifamily fundamentals may be regaining stability and moving toward normalized averages. The single-family housing market is another critical element influencing the overall health of Las Vegas’ economy. The market produced 160,092 single-family homes between 2003 and 2008. However, only 142,455 were built between 2009 and 2024. This slowdown has led to soaring home prices, even amid rising mortgage rates approaching 7 percent. Consequently, the growing disparity between renting and owning has created favorable conditions for rental housing demand, further solidifying the multifamily …

June 3, 2025

Acquisitions Industrial Nevada Self-Storage Western

Buchanan Street Partners Acquires 917-Unit Self-Storage Facility in Las Vegas

by Amy Works May 13, 2025

LAS VEGAS — Newport Beach, Calif.-based Buchanan Street Partners has acquired a newly constructed self-storage facility located at 310 Rock Springs Drive in Las Vegas. The project’s developer sold the asset for $21.8 million in an off-market transaction. Totaling 103,570 square feet, the three-building property offers 917 self-storage units. The Class A facility features a mix of interior climate-controlled units and drive-up access options spread across three-story buildings. Buchanan acquired the property at certificate of occupancy upon construction completion. The company is an active self-storage investor throughout the Western United States, including recent transactions in California and Arizona.

May 13, 2025

Acquisitions Multifamily Nevada Western

Northcap Commercial Arranges $4.5M Sale of Nellis Gate Apartments in Las Vegas

by Amy Works May 8, 2025

LAS VEGAS — Northcap Commercial has brokered the sale of Nellis Gate Apartments, a multifamily property located at 4340 N. Las Vegas Blvd. in Las Vegas. Built in 2002, Nellis Gate Apartments offers 50 units. The asset traded for $4.5 million, or $90,000 per unit. Jerad Roberts, Devin Lee and Robin Willett of Northcap Commercial represented the undisclosed buyer in the deal. The name of the seller was not released.

May 8, 2025

Development Hospitality Nevada Retail Top Stories Western

Caesar’s Entertainment Begins $160M Transformation of Harveys Lake Tahoe Casino, Hotel in Nevada

by John Nelson May 1, 2025

STATELINE, NEV. — Caesar’s Entertainment (NASDAQ: CZR), a gaming and casino giant based in Reno, has begun the $160 million transformation of Harveys Lake Tahoe, a 1.6 million-square-foot hotel and casino located in Stateline. The redevelopment project will feature upgrades, accommodations, elevated dining and gaming options and a new contemporary design. Beginning July 1, the resort will operate as Caesars Republic Lake Tahoe Hotel & Casino. “This transformation honors the storied history of Harveys while introducing modern amenities and elevated experiences that will redefine luxury in Lake Tahoe,” says Karie Hall, senior vice president and general manager of Harrah’s and Caesar’s Republic Lake Tahoe. The 88,000-square-foot casino floor at Caesars Republic Lake Tahoe will be reimagined with fresh carpeting, lighting, tables, chairs and digital displays, while also including new slot machines, a high limit room and a World Series of Poker room. The lobby will also be redesigned. The resort’s towers, Remus Tower and Romulus Tower (formerly Mountain Tower and Tahoe Tower), will also be improved. All rooms in the Remus Tower will be remodeled, while Romulus Tower will receive a refresh after previously being fully redesigned in 2020. Additionally, butler service for select suites will be available for both hotels. …

May 1, 2025

Acquisitions Industrial Nevada Western

Panattoni Buys Two Industrial Buildings in Southwest Las Vegas

by Amy Works April 25, 2025

LAS VEGAS — Panattoni Development Co. has purchased two industrial buildings situated on 7.2 acres in southwest Las Vegas. Terms of the transaction were not disclosed. Located at 3300, 3564 and 3515 Birtcher Drive, Southwest Vegas Innovation Center consists of the 138,817-square-foot Building 1, which includes 83,127 square feet of warehouse space and 55,690 square feet of office space, and Building 2, a 9,100-square-foot industrial building with a fenced yard. The property is currently leased to Aristocrat Technologies Inc., a global, publicly traded gaming and tech company based in Las Vegas.

April 25, 2025

Acquisitions Industrial Nevada Western

Intermountain Lock & Security Supply Buys 28,420 SF Industrial Facility in Las Vegas

by Amy Works April 17, 2025

LAS VEGAS — Intermountain Lock & Security Supply Co. has purchased an industrial facility, located at 3670 W. Oquendo Road in Las Vegas, for $7.9 million as part of a 1031 exchange. The company will use the 28,420-square-foot property to expand its operations in the region. Jeremy Green and Mike Catt of Kidder Mathews represented the buyer in the deal. The name of the seller was not released.

April 17, 2025

Acquisitions Development Nevada Retail Western

Barclay Group Buys Kiley Ranch Marketplace in Nevada for $25.6M, Plans 400,000 SF Retail Power Center

by Amy Works April 11, 2025

SPARKS, NEV. — Barclay Group has purchased Kiley Ranch Marketplace, a 46.7-acre parcel at the southwest corner of Wingfield Hills Road and Pyramid Highway in Sparks for $25.6 million. The buyer plans to develop a 400,000-square-foot retail power center on the site. The development will be the first new retail power center in Sparks since 2005. Shawn Smith and Sean Retzloff of Kidder Mathews represented the buyer and seller, KM2 Development, in the transaction. Additionally, the team will handle leasing for the project.

April 11, 2025

Acquisitions Industrial Nevada Western

MCA Realty Acquires 19,500 SF Multi-Tenant Industrial Building in Las Vegas for $4.2M

by Amy Works April 7, 2025

LAS VEGAS — MCA Realty, through its Industrial Growth Fund II, has purchased a multi-tenant industrial building, located at 4205 W. Tompkins Ave in Las Vegas, from a private investor for $4.2 million. Built in 1984, the 19,500-square-foot building features a clear height of 22 feet, seven grade-level roll-up doors, separately metered units with evaporative coolers and a 28,500-square-foot fenced yard. MCA Realty will make significant improvements to the exterior, including new paint, asphalt repairs and new fencing. Interior improvements will include office renovations, new carpet and ceiling tiles, new bathroom fixtures, LED lighting, painting and insulation of the warehouse. Pat Marsh and Sam Newman of Colliers represented both parties in the transaction.

April 7, 2025

Acquisitions Nevada Retail Western

S&S Pahrump Sells Three Retail Buildings within Pahrump Valley Junction in Nevada

by Amy Works March 28, 2025

PAHRUMP, NEV. — San Diego-based S&S Pahrump has completed the sale of three retail buildings within Pahrump Valley Junction, a 140,000-square-foot retail center in Pahrump. Phoenix-based Pahrump Valley KRD acquired the assets for an undisclosed price. The transaction includes three buildings totaling 37,850 square feet on 3 acres. The buildings offer 19 retail suites and one pad within the larger shopping center, which is anchored by Albertsons, CVS and an ARCO service station. The buildings are located at 150, 240 and 250 Highway 160. Max Stone, Josh Salik and Michael Paul of Voit Real Estate Services represented the seller, while John Whistler of Las Vegas-based JW Michaels Commercial represented the buyer in the deal.

March 28, 2025

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