Category Archive : Development

LAS VEGAS, NV – The developer of a new master-planned community in Las Vegas evidently wants to “catch ‘em all,” as new residents are noticing that the streets in the neighborhood are named after characters from the popular Pokémon series of video games and cartoon television shows. 

Serenity Place, an upscale community in Henderson, surprisingly has streets named after numerous well-known “Generation 1” Pokémon critters such as Jigglypuff, Squirtle, Snorlax, Charmander, and Charizard.

Pokémon – an abbreviation of Pocket Monsters – is a Japanese media franchise about fictional creatures called “Pokémon” that are caught, trained, and cared for by humans who use them to battle with other Pokémon and their trainers. The English slogan for the franchise is “Gotta Catch ‘Em All!” 

Andrea Miller, a construction manager at Harmony Homes LLC – Serenity Place’s developer – noted to local media the difficulty of naming streets in Las Vegas. Developers are required to determine the number of streets in a community and then submit double the amount of potential names for those streets to the county in case any of them have already been used, among other concerns.

However, Miller’s sons, aged 11 and 14, are “obsessed with Pokémon” and gave her the idea to name  Serenity Place’s streets after the creatures. There are currently 1,015 Pokémon species, so Miller certainly had plenty of names to choose from. 

“When I hear Jigglypuff, I giggle,” Miller said. “When you’re coming home from work and you had a bad day and you have to turn on Jigglypuff Lane, that will make you smile.” 

Jigglypuff Lane is the main thoroughfare of Serenity Place, Miller said, mainly because it’s her sons’ favorite Pokémon; other street names in the community include Snorlax Lane and Squirtle Lane. 

However, there’s no word on if there’s a street named after the most famous Pokémon of all, Pikachu, which would seem the most obvious choice if you’re pulling names from the series’ vast bestiary.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – After initially announcing a deal in late April to purchase property off of the Las Vegas Strip in order to construct a $1.5 billion ballpark, the Oakland Athletics MLB team – who are following the NFL Raiders in uprooting and transplanting themselves from California to Nevada – reversed themselves this week and announced they have instead reached an agreement with Bally’s Corp. to purchase land currently occupied by the Tropicana Resort & Casino, where they will now construct their new baseball stadium.

The new home of the Athletics’ will now be on a nine-acre plot of land situated on the 35-acre Tropicana site, located at Las Vegas Boulevard and Tropicana Avenue. Currently, the plan is to demolish the Tropicana to make way for the A’s stadium and to build a new 1,500-room hotel and casino on the remaining acreage.

The A’s home stadium is slated to take the form of a 35,000-seat retractable roof stadium, with the project currently pending the passing of state legislation for public financing. Once the monies are obtained, full development of the ballpark would be in the hands of Bally’s, according to the company’s president, George Papanier.

“We are honored to have been selected to partner with the Oakland Athletics on this monumental step in helping to bring Major League Baseball to the great city of Las Vegas,” Papanier said. “To be a part of the once in a generation opportunity of having a professional baseball team located within a short walk of the Las Vegas Strip.”

Papanier noted that the development of the A’s new stadium would be steeped in the long-standing history of the site on to which it is to be erected, becoming an iconic landmark in the city of Las Vegas on par with the Tropicana itself.

“The Tropicana has been a landmark of Las Vegas for generations, and this development will enhance this iconic site for generations to come.” he said. “We are committed to ensuring that the development and ballpark built in its place will become a new landmark, paying homage to the iconic history and global appeal of Las Vegas and its nearly 50 million visitors a year.”

The project is expected to cost $1.5 billion.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Construction crews recently reached a major milestone on the development of the F1 Paddock Facility site located off of the Las Vegas Strip in anticipation of the organization’s first race in the city in decades, slated to take place in just seven months.

The 400 workers at the site held a topping out ceremony to celebrate the final barrier being installed on the structure’s roof, a major achievement that signifies the Paddock Facility is now 60 percent complete.

Governor Joe Lombardo and F1 President Stefano Domenicali were at the ceremony, and symbolically signed the final barrier before workers lifted and installed it on the facility’s roof.

“We want to create a legacy for Las Vegas and Formula 1 for the future,” said Domenicali.

A paddock is where the race teams park their transporters; these transporters become temporary garages where the race mechanics prepare the race cars.

Previously, Formula 1 announced they will be putting $240 million into the street-based night race as part of a multi-year deal with the city of Las Vegas, making the event their third annual Grand Prix in the United States following the Grand Prix at Austin, Texas and the Miami, Florida Grand Prix.

The $240 million that Formula 1 is investing went into the acquisition of a 39-acre site in Las Vegas – located northeast of East Harmon Avenue and Koval Lane – in order to build a permanent pits and the aforementioned paddock facility.

Formula 1 cars are the fastest regulated road-course racing cars in the world, and the Grand Prix races take place worldwide on both purpose-built circuits and closed public roads.

The upcoming Las Vegas-based Grand Prix is slated to take place in the center of the city – with the track situated partly on the Las Vegas Strip – starting in November 2023.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – A boarded-up, abandoned motel on the famed Las Vegas Strip that has been home to vagrants, feral cats, and vandalism for a number of years has been purchased by a Native American tribe with plans to demolish the structure and subsequently repurpose the property.

According to property records, the Three Affiliated Tribes of the Fort Berthold Indian Reservation in North Dakota – also known as Mandan, Hidatsa and Arikara Nation – purchased the former White Sands Motel site last week for $10.25 million.

The long-time zombie property is located on a narrow 1.1-acre parcel of land adjacent to the former Route 91 Harvest festival site and represents the latest investment on the part of the MHA Nation, which to date has purchased a total of 23 acres along the southern portion of the Strip for a total combined price of $115 million.

The motel building – originally constructed in the 1950s – is currently in a substantial state of disrepair, having been the target of vandalism and squatting by homeless people and cats for years, and according to MHA Nation Chairman Mark Fox, the plan is to completely raze the property and redevelop it.

“It definitely cannot be salvaged,” Fox said, adding that the MHA Nation will “tear it down and clean it up,” a process that he estimates will cost at least $1 million. There is currently no timeline in place for the site’s demolition.

The MHA Nation is still formulating a strategy or their real estate holdings in Las Vegas; Fox noted that they either might be used to develop a casino-resort, or just flipped to new owners for a profit.

“We’re really going to the drawing board,” Fox said.

The White Sands Motel site has been unsuccessfully put on the open market several times over the years for various asking prices. It was initially offered for $25 million in 2016, then for $18 million in 2021, and finally $12 million in spring 2022, with no takers each time.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Elon Musk’s The Boring Company has announced their proposed plan to increase the size of their Las Vegas Loop – the underground transport system they constructed underneath the city – by approximately 50 percent, representing a grand total of 65 miles. This is provided that local officials approve the plan, which seems likely given the project’s initial success so far.

The Loop is comprised of a series of underground tunnels, dug by The Boring Company, that currently ferries people back and forth to the Las Vegas Convention Center in a series of Tesla automated electric cars in approximately two minutes each way. Normally, the route would take an average of 30 minutes for a person to walk on their own.

The Boring Company had previously stated they plan on expanding the tunnel system, with plans for new people mover routes to various area resorts and the airport having already been submitted to city officials.

The proposed additions would be comprised of a series of crisscrossing tunnels underneath the streets of the city that would enable passengers to travel to casinos, retail areas, the University of Nevada Las Vegas campus, and even residential areas. If approved by city officials, the Loop network would expand to 69 stations and a total of 65 miles of tunnels, as well as an additional undetermined number of Tesla vehicles to navigate them.

If the plan comes to fruition, a Loop station would conceivably be located within a few blocks of almost anywhere in central Las Vegas, Including stations adjacent to the University of Nevada, Allegiant Stadium – home of the Las Vegas Raiders NFL team – as well as Harry Reid International Airport.

There would also be an additional tunnel added that would run parallel to the Las Vegas Strip with several stations throughout its length, which could conceivably offer a high-speed express route joining the North and South sections of the city; currently, a similar tunnel connects the east and West sections.

he city of Las Vegas has not yet commented on the proposed additions to the Las Vegas Loop.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Ground was recently broken on Cartier Industrial, a new industrial space located on a 4.28-acre plot of land in North Las Vegas, after successful completion of grading of the property which was achieved in late January of this year.

The project – located on the northwest corner of North Lamb Boulevard and East Cartier Avenue, with easy access to major highways such as I-15 and 515 – is the latest in the large number of industrial facilities that have been popping up throughout Las Vegas over the past year or two, with the city becoming a popular shipping hub for numerous companies across the country.

Once completed, Cartier Industrial is slated to be made up of a freestanding, concrete tilt building which will include eight 9×10-foot dock loading doors and two 16×14-foot grade level doors, both with a 30-foot clear height. There will also be an R-24 insulated tilt wall panel system, R-38 roof deck insulation, 81 parking stalls, an ESFR fire suppression system, M-D zoning, and rear loading truck access.

Tim Castello, Certified Commercial Investment Member (CCIM) and owner of the project’s developer, Castello-Monkarsh Development, noted that Cartier Industrial will help to serve the very much growing need for industrial space in Las Vegas.

Cartier is providing a much-needed product for the industrial sector in North Las Vegas.  This project is perfect for an Owner-user, whereby the owner can lease out half the building and reduce their carrying costs.  This is just one of the projects we are developing in the area,” Castello said. “The industrial sector valley wide is at historic lows with vacancy rates at less than 1.7%. This project is a rare opportunity as we are offering it for either purchase or lease at an affordable rate. Cartier is situated in a desirable neighborhood welcoming to industrial users.”

The facility will be available for either sale or lease once it has been completed, and according to the developer it will be able to be split up between two separate tenants if needed.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Construction of the greatly anticipated Dream Las Vegas hotel-casino project has been “fully stopped” after developer Bill Shopoff revealed this week that his funding has temporarily dried up, leaving him owing approximately $25 million to $30 million for work on the resort.

Despite the whopping debt he owes currently, Shopoff – President and CEO of Shopoff Realty Investments – is insisting that the project is only briefly halted, and that work will resume “once the terms of the financing are finalized.”

Work has fully stopped at the site, other than anything required for safety,” Shopoff said.

Construction on Dream Las Vegas broke ground on Las Vegas Boulevard last year and is slated to take a different approach from the massive mega-resorts that the city is known for, offering a “smaller, boutique-style experience.”

Shopoff – along with his partner in the project, Contour CEO David Daneshforooz – said that he is in “active” discussions with his lender, and that he anticipates the kinks in his funding to be worked out within the next month or so.

“Clearly, we’re delayed on getting some financing,” he said, explaining that some of the issues regarding Dream’s funding are tied to skyrocketing loan interest rates caused by the record-high inflation plaguing the country.

Currently, the budget for Dream is in the neighborhood of $550 million to $575 million; until now, Shopoff and Daneshforooz have been paying for its development with cash out of their own pockets, and are currently negotiating with their lender for a $400 million plus loan.

Development for Dream is being spearheaded by contractor McCarthy Building Companies, whom Shopoff insisted will be paid and will continue work on finishing the 531-room hotel-casino.

Obviously people want to get paid for their work, and we want them to be paid,” Shopoff said. “They will be paid, and the project will get built.”

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Expanding their footprint in Southern Nevada even further, the Las Vegas Raiders NFL team recently purchased an office and warehouse building across the street from their home of Allegiant Stadium, spending approximately $10.6 million according to property records.

The Raiders had already been utilizing the 33,000 square-foot building in question – located at 5525 Polaris Avenue – after having signed a 10 year long rental agreement in 2020 with brokerage firm Colliers International. However, for undisclosed reasons, the Raiders have instead opted to purchase the property outright.

To date, the Raiders – along with team owner Mark Davis – have amassed an impressive array of real estate transactions in Southern Nevada since transplanting the team there in 2020.

Initially, the Raiders purchased over 60 acres of land near the famed Las Vegas Strip in 2017 for 77.5 million; it was there that they constructed Allegiant Stadium, their 65,000 seat, $2 billion home stadium.

After that, they purchased an additional 55 acres in Henderson for approximately $6 million in 2018, where they then constructed a 300,000 square-foot practice facility and headquarters complex; however, in early 2020 they sold the complex for $191 million, only to subsequently lease it back from its new owner.

Then, in 2019, the Raiders purchased just over 17 acres of property within a mile of Allegiant for $28 million, in order to utilize it for stadium parking. 2020 saw the team buy an additional 3 acres west of the stadium for $16 million, as well as three industrial buildings next to their Henderson headquarters for over $56 million.

Davis has been buying and selling a great deal of real estate in Vegas on a personal basis as well; he has purchased both undeveloped land and a condo in the exclusive Summit Club community, only to later turn around and sell both before buying a 6.8 acre site in Henderson’s Ascaya community, where he is currently building a three-story luxury estate.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – The Las Vegas Strip will be getting a interesting new entertainment option soon, as The Bottled Blonde chain of pizzerias and beer gardens has announced they will be building a lavish $50 million nightclub upon the famed boulevard in the fourth quarter of 2024, the franchise’s first foray into Southern Nevada.

The Bottled Blonde Las Vegas will be situated within a 25,000 square-foot standalone building in the Grand Bazaar Shops, next to Horseshoe Las Vegas, and will be comprised of three floors with an open-air rooftop lounge that will offer unobstructed views of the Bellagio fountains.

Several existing buildings on the Strip will be destroyed to make way for The Bottled Blonde’s construction.

The Bottled Blonde – owned by Arizona-based Evening Entertainment Group – currently has 25 bars and restaurants across the country – including in Dallas, Houston, Ft. Worth, and Miami – with media outlets referring to the franchise as “highest-grossing standalone bar in Texas.”

A location is also currently under development in Nashville.

The Bottled Blonde offers a plethora of menu options such as chicken wings, salads, and pizzas, but the main draw of the establishment is its late-night club atmosphere.

The Bottled Blonde Las Vegas is currently being developed by Evening Entertainment Group and Creation, a Phoenix-based real estate development and investment firm; according to Evening Entertainment Group co-owner Les Corieri, bringing the chain to Las Vegas has been in the cards for some time now.

“This project has been a long time coming, and we couldn’t be more excited to bring the Bottled Blonde experience front and center to the Las Vegas Strip,” he said, adding that the establishment will stand out from the other fare on the Strip because of its prominent location on the corner of Las Vegas Boulevard and Flamingo Road.

“Our visibility is much better than most people,” he said.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Talonvest Capital, Inc. and their client, Metropolis Development Group, have announced that they have successfully acquired a $12.2 million construction loan they will utilize in building a large, cutting-edge storage facility in Las Vegas, Nevada.

Talonvest Capital, Inc. is a boutique real estate firm that, as per their website, provides “advisory services to commercial and self storage real estate investors, owners, and developers throughout the United States.” The firm boasts “four decades of institutional knowledge and expertise from the team members to deliver better capital solutions for its clients.”

According to the website of Metropolis Development Group – Talonvest’s client in this endeavor – the development firm has 85-plus years of experience in constructing “self-storage projects in underserved areas and brings new purpose to buildings and land in the self-storage arena.”

The two entities have combined their talents and, this week, have closed on a 36 month, $12.2 million loan to develop 910 climate-controlled storage units across 90,921 net rental square footage (NRSF) along North Rancho Drive within half a mile of US-95, a section of Las Vegas that is considered a “high demand market” in terms of commercial storage space.

Scott Looney, Managing Member of the Metropolis Development Group, noted that he was impressed by the Irvine, California-based Talonvest’s ability to navigate the red tape normally associated with acquiring sizable construction loans, and that his firm was looking forward to breaking ground on the upcoming project.

“This was our first time working with the Talonvest team and we were very impressed with what they delivered,” he said. “Their extensive relationships with lenders, capital expertise, and attention to detail made for a seamless transaction process and great results.”

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Hard Rock International, the new owners of the Mirage Las Vegas, have finally responded to repeated questions from fans of the establishment’s iconic live volcano, and while it will be remaining in service in the near and now, it has unfortunately been confirmed that the famed attraction will be retired permanently in the near future due to the lack of revenue that it generates.

The Mirage Las Vegas transferred operations in December 2022 from MGM Resorts International to new owners Hard Rock, the gaming arm of the Seminole Tribe of Florida; this marked the first time that a Native American tribe has run a Las Vegas Strip-based resort casino in history.

The Seminole tribe has developed extensive hotels and resorts for gaming on some of their reservations, and in 2007 the tribe bought the Hard Rock Cafe franchise for $965 million; they currently have a total of seven casinos, and announced in December 2021 that it had purchased the rights to operate The Mirage for $1.075 billion.

While Hard Rock plans to continue operating The Mirage under its current name for the time being – during which they will be keeping the volcano attraction running – the eventual plan is to re-brand the resort with the Hard Rock name and extensively renovate the building’s façade to the same trademark guitar-style shape as other Hard Rock resorts.

During this process, sadly, the establishment’s widely-known artificial volcano – which currently erupts nightly, providing free entertainment in front of the resort – will be discontinued and torn down.

The rebranding project is expected to begin in 2024; until then, MGM will license the “Mirage” name to Hard Rock until the project is complete. Hard Rock Las Vegas is expected to open in 2025 or 2026.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Madison Square Garden Entertainment (MSGE) is currently mulling over the possibility of selling their high-end Tao restaurant and nightclub chain in order to help fund the construction of their ongoing MSG Sphere entertainment venue in Las Vegas, as construction costs have continued spiraling ever-higher as the long-gestating project finally nears completion.

MSGE has reportedly engaged the services of multinational investment bank and financial services company Goldman Sachs to assist with the potential sale of Tao Group, which would include 17 restaurants, nightclubs, day clubs and pool lounges in Las Vegas. Among the local venues that would be part of the proposed sale would include Tao Nightclub and Tao Asian Bistro at The Venetian, Hakkasan at MGM Grand, and Beauty & Essex at The Cosmopolitan of Las Vegas.

In addition, Tao also operates venues in London, Singapore, Dubai, and New York City.

The potential Tao Group sale comes amid the skyrocketing budget of the MSG Sphere project, which has currently swelled to $2.17 billion, surpassing Allegiant Stadium as the Las Vegas’ priciest entertainment venue ever.

When completed, the 17,500-seat MSG Sphere will be a 400,000-square-foot, 18,000-seat, 360-foot-tall globe-shaped arena on 63 acres of property located behind the Venetian Resort Hotel Casino on the Las Vegas Strip.

The exterior of the sphere will feature 36 miles of variable intensity LED lighting – known as an exosphere – enabling the structure to allow outside spectators to peer through a transparent façade to watch the concert within; at higher lighting intensities, outside vision will be obscured.

The venue will cater to musical performances and concerts; however, the occasional boxing or MMA contest could be held there as well, according to Madison Square Garden Co.

The MSG Sphere was initially scheduled to open in 2021, although it was later delayed due to the COVID-19 pandemic; it is now slated to open in the second half of 2023.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com