Commercial Rent Increases
In Business Las Vegas is reporting that commercial rents in the Las Vegas Valley could increase up to 15 percent. They are expecting that significant increases because leases are going to be expiring and developers are going to try and catch up with inflation. Local research indicates that rents have remained flat since about 2001 despite the health demand for commercial real estate.
In other news, developers with projects in the southwest Las Vegas Valley have formed a partnership to create “West Village,” a planned “suburban downtown” that would encompass about 700 acres.
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