LAS VEGAS, NV – According to reports, a vintage apartment complex located in the Convention Center District of Las Vegas has been sold to the Camino Verde Group, a Southern Nevada-based real estate investment, development and asset management company, with this being the fourth such purchase they’ve made in this area recently. Kevin Romney, co-founder and managing director of Camino Verde Group, noted that Sherwood Palms – an aging property located at the north end of the Las Vegas Strip – would be an excellent source of housing for the local area workforce once much-needed restoration has taken place. “Sherwood Palms…
LAS VEGAS, NV – Long in development, Elon Musk’s “The Boring Company” has finally completed the Tesla-powered underground people mover – AKA “The Loop” – that will service attendees of the Las Vegas Convention Center going forward, according to reports. The Loop is comprised of a series of underground tunnels, dug by The Boring Company, that will ferry people back and forth to the 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 Loop system…
LAS VEGAS, NV – Mortgage lender TPG Real Estate Finance Trust has recently acquired 27.5 acres of prime real estate along the north and south edges of the famed Las Vegas Strip, according to recent reports. TPG acquired the property from Triple Five Group, according to Clark County records, through a “deed in lieu of foreclosure,” which typically involves avoiding foreclosure on a piece of property by the transfer of ownership. According to reports, it’s assumed that the new property owner TPG – who is a lender, not a developer – will attempt to sell the property, as opposed to developing…
LAS VEGAS, NV – According to news reports, business magnate, industrial designer, engineer, and philanthropist Elon Musk’s The Boring Company has been making rapid progress as of late on its Las Vegas “people mover” system, with the tunnel-based self-driving car transport system nearly complete. After a year of construction, Musk confirmed this week via Twitter that the ambitious project will be finished shortly. “Tunnels under cities with self-driving electric cars will feel like warp drive,” he tweeted. “First operational tunnel under Vegas almost done.” A people mover is a type of small scale automated guide-way transit – utilizing self-driving, all-electric Tesla vehicles – that…
LAS VEGAS, NV – With the COVID-19 pandemic remaking the concept of work as we know it, scores of people are finding themselves transplanted from their familiar office settings and telecommuting from their own homes thanks to social distancing guidelines designed to curb the spread of the disease. And while there are advantages to working from home, there are also stresses that naturally come with the idea of taking your own personal abode and making it your place of business. If home is work and work is home, what’s a person to do to? Well, go to Las Vegas, it…
LAS VEGAS, NV – According to reports, The Boring Co. – the tunneling company owned by Elon Musk – may be looking to extend the length and scope of the tunnel they are currently working on that will house an elaborate “people mover” train system at the Las Vegas Convention Center. A people mover is a type of small scale automated guide-way transit – utilizing self-driving, all-electric Tesla vehicles – that would service the Las Vegas convention center, slated to be completed in time for the January 2021 Consumer Electronics Show. The vehicles have a capacity of 16 passengers and there…
LAS VEGAS, NV – Despite two on-site workers testing positive for coronavirus – which causes the respiratory disease COVID-19 – it was announced this week that work would continue on the new home of the Las Vegas Raiders NFL team, Allegiant Stadium. The $2 billion, 65,000-seat venue is expected to be completed in July 2020 in time for the 2020 NFL season, currently scheduled for August 16. Most recently, a worker for the Mortenson-McCarthy construction company tested positive last week for COVID-19, but the company noted that strict social distancing guidelines at the worksite prevented the infected worker from coming into contact…
LAS VEGAS, NV – According to reports, the construction industry in Las Vegas is continuing forward without any major setbacks attributed to the ongoing coronoavirus pandemic that is causing issues for its sister industry – real estate – but it remains to be seen what problems could arise if the outbreak ends later rather than sooner, experts say. Construction, along with other fields such as medical and food, has been deemed an “essential” business by Nevada Governor Steve Sisolak, allowing work to continue unabated on numerous projects, free of governmental orders mandating many non-essential workers to remain at home to…
LAS VEGAS, NV – The Vegas Strip is set to welcome back a seasoned player in the hotel game, and one of the most iconic brands in the business. According to recent reports, McLean-based Hilton is slated to open a massive mega-resort – comprised of three hotels – that will potentially add up to one of the biggest multi-brand deals in the company’s existence. The original Las Vegas Hilton, an enormous resort, opened in 1971 and was located just one block from the Strip at 3000 S Paradise Road until the company’s property management services ended in 2012. However, now the…
LAS VEGAS, NV – On the world-famous Las Vegas Strip, nowadays you will find the usual stalwarts – mainly casinos and hotel resorts – nestled in tightly with another money-making business currently expanding their presence: retail. Looking to take advantage of the massive amount of foot traffic that roams about the Strip on a daily basis, retail is becoming more and more prevalent in that unique section of Vegas, with their ownership paying astounding amounts of money for as many precious square-feet of real estate as they can get their hands on. The businesses that are dotting the Strip these days…
LAS VEGAS, NV – The famed Las Vegas Boulevard is known world-wide for its massive, brightly-lit structures, ranging from hotels to casinos to resorts of all types. But if you were to ask the experts to name off some of the most profitable endeavors located on that famed street, the one you might expect to hear the least is “drug store.” National drug store chains CVS and Walgreens have pulled in huge profits on the Las Vegas Strip, thanks to the massive amount of tourist foot traffic that dominates the sidewalks on a daily basis. These tourists will, more often…
LAS VEGAS – Eldorado Resorts has announced that they will be purchasing Caesars – and in the process acquiring over 35 of their casinos – in a deal comprised of both cash and stock valued at over $17 billion, according to reports. The deal will result in Eldorado essentially becoming a casino mega-power, with a total of approximately 60 casinos and resorts to its name as a result of the purchase. The acquisition, which took place on Monday of this week, now gives Eldorado a presence in 16 states and makes it one of the largest entertainment and gambling entrepreneurs…
