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Category – December 2011

Reptiles N’ Reefs Moves to Whitney Ranch

Reptiles N’ Reefs Moves to Whitney RanchReptiles N’ Reefs signed a 39-month, $69,739 lease for 1,336 square feet of retail space inside the 20-year-old Whitney Ranch Center, on 8.21 acres, at 601-699 N. Stephanie St. in Henderson. Cushman & Wakefield-Commerce Real Estate Solutions’ Dan Hubbard and Todd Manning represented the lessor, 601-699 Whitney Ranch CTR LLC. The reported average rent equals $1.34 per square foot triple-net. The 224,841-square-foot Target-anchored shopping center is 94% occupied.

Buon Gusto Pizza Renews Lease

Buon Gusto Pizza Renews LeaseBuon Gusto Pizza signed a 13-month, $30,096 lease extension for 1,200 square feet of restaurant space inside the 11-year-old Horizon Pointe, on 10.64 acres, at 2650 W. Horizon Ridge Parkway, Suite A-02, in Henderson. Cushman & Wakefield-Commerce Real Estate Solutions’ Dan Hubbard represented the lessor, Villa La Paloma LLC. The reported average rent equals $1.93 per square foot triple net. The Albertson’s-anchored center is 96.2% occupied.

Nationwide Joins Shoppes at Summerlin

Nationwide Joins Shoppes at SummerlinNationwide Mutual Insurance signed a 66-month, $217,326 lease for 2,274 square feet of office space inside the 5-year-old Shoppes at Summerlin, on 1.55 acres, at 7595 W. Washington Ave., Suite 140-150, in Las Vegas. Cushman & Wakefield-Commerce Real Estate Solutions’ Jacqueline Young represented the lessor, 7591 and 7595 W. Washington Ave LLC; CB Richard Ellis’ Christina Strickland represented the tenant. The reported average rent equals per $1.45 cents square foot triple-net.

Sunset Place Sells for $1.85 Million

Sunset Place Sells for $1.85 MillionArmen Nazarian bought the 23-year-old, 25,600-square-foot Sunset Plaza, on 10.51 acres, at 3720-3740 East Sunset Road in Las Vegas for $1.85 million, or $72 per square foot, from 3720-3740 East Sunset Road LLC. Cushman & Wakefield-Commerce Real Estate Solutions’ Dan Hubbard and Todd Manning represented the seller. The four-building neighborhood shopping center is anchored by K-Mart.

Cushman & Wakefield: 12 Retail Trends for 2012

Cushman & Wakefield 12 Retail Trends for 2012After six months of steady declines, consumer worry over the short-term economic outlook eased considerably, though overall confidence readings remain historically weak, says Cushman & Wakefield. Here are 12 retail real estate trends to watch for in 2012: global political events matter; U.S. presidential election; inflation; demographic diversity; return to urban cores; the “barbell of prosperity”; spend shift and the rise of outlets; mobile commerce, Facebook and transparency; pop-up stores; shopping as an event; shrinking footprints and the reuse of the big box; and, focus on core markets. For the full report, CLICK HERE

ULI: Housing Permits Up, Commercial Deals Down

ULI Housing Permits Up, Commercial Deals DownThe top ten trends for December point to concerns in the economy, some weak signals in the capital markets, and a glimmer in the weak housing market, reports the Urban Land Institute. Compared with a year ago, 57% of key indicators are better and 43% are worse. 
  • Private construction value put in place increased in October to about 54% of the pre-recession high registered in March 2006. 
  • Commercial property transaction volumes were down in October and are now below the long-term monthly average.
  • Multifamily housing permits jumped in October to a monthly level not seen since September 2008. 
  • Permits and starts of new single-family homes showed healthy growth in October, while sales just inched up and prices sagged slightly. 
For the full report, CLICK HERE

Report: Apartment Building Boom Expected in 2012

Report Apartment Building Boom Expected in 2012Driven by low vacancy and the shift toward renting versus buying homes, the fully recovered apartment sector is poised for a development spike in 2012, said a PricewaterhouseCoopers’ 4Q11 PwC Real Estate Investor Survey. Low interest rates and construction financing are creating incentives for developers who’ve been on the sidelines since the downturn. Despite economic uncertainty, the majority of survey respondents “view commercial real estate as favorably priced.”  Looking ahead to 2012,  U.S. commercial real estate investment is an attractive play that will gain increasing global attention due to its hard asset nature and current income-producing characteristic, along with its total return potential, the report says.

ULI: Real Estate Recovery Grind in 2012

ULI Real Estate Recovery Grind in 2012For 2012, U.S. real estate players must resign themselves to a slowing, grind-it-out recovery following a period of mostly sporadic growth, confined largely to “wealth island” real estate markets, says the Urban Land Institute in a new study. Despite some stepped-up bargain hunting, capital generally will continue to avoid commodity real estate in most secondary and tertiary cities. Among the property sectors, only apartments will score especially well: demographic trends and the aftermath of the housing bloodbath combine to increase and sustain demand for multifamily units. For the full report, CLICK HERE

Deloitte: Top 10 Real Estate Issues in 2012

Deloitte Top 10 Real Estate Issues in 2012The U.S. recession and emerging Asian and Latin American markets has fueled greater diversification into global commercial real estate, according to a new report from Deloitte. The U.S. continues to attract investments based on size and favorable risk-reward. The domestic recovery will be gradual and uneven, with increased capital availability, transactions and improved fundamentals. Deliotte’s top 10 issues for commercial real estate issues in 2012, include: Globalization of CRE; Macroeconomic Fundamentals; CRE Fundamentals; CRE Lending; Commercial Mortgage Backed Securities; Real Estate Investment Trusts; Private Equity; CRE Deal Flow; U.S. Residential Market; U.S. Residential Mortgage Market. For the full report, CLICK HERE

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