NKF Acquires ACRES of Utah

NKF, a subsidiary of the Newmark Group Inc., acquired ACRES, a full-service, commercial real estate services company, headquartered in Salt Lake City. ACRES, which operated as Newmark Grubb ACRES, also has offices in Davis/Weber County, Utah County, Boise, ID and Reno, NV. Veteran Nick Wood, who has been with ACRES for nearly two decades, will

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Caesars Breaks Ground on $375M Conference Center in Las Vegas 

Caesars Entertainment Corporation broke ground on Caesars Forum, a $375 million, 550,000-square-foot conference center in Las Vegas, in a push to capture more business tourism. The conference center is directly behind The LINQ Promenade retail district, and will have 300,000 square-feet of flexible meeting space. The facility will be the first of this size built on one

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Canadian Tradeshow Company Takes 34K SF in North Las Vegas

Canada-based tradeshow event and design company, All Space Group, signed a three-year lease for 33,750 square feet at North Park One in Southern Nevada. The industrial project located within the North Las Vegas submarket will function as a manufacturing and distribution hub for All Space Group. All Space Group’s Tanya Miller says, “We selected Las

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Transwestern Tapped for 6.5M-SF CA, NV Assignment

Washington Capital Management, on behalf of an unnamed client, selected Transwestern to provide property management and project/construction management services for nearly 6.5 million square feet of office and industrial assignments in Southern California and Las Vegas. With these 26 buildings, Transwestern adds more than 350,000 square feet to its Los Angeles office management portfolio, more

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Tower 16 Lands Las Vegas MF, Plans Renovation

Carlsbad, CA-based Tower 16 Capital Partners, in a joint venture with Henley USA, acquired Evergreen Apartments, a 314-unit, multifamily project in Las Vegas for $29.5 million. The asset was sold by Encinitas, CA-based The Apartment Company. The community features studio, one and two-bedroom apartments with covered parking and private patios. It includes two pools, barbecue and

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CityCenter Selling Mandarin Oriental Las Vegas for $214M

CityCenter Holdings, LLC, a venture between MGM Resorts International and Infinity World Development Corp, plans to sell the 47-story Mandarin Oriental Las Vegas and adjacent retail parcels for approximately $214 million in cash, to an undisclosed buyer. The USGBC LEED Gold-certified property is located at the entryway of the CityCenter mixed-use development in the heart of the

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Eldorado Resorts to Acquire Caesars in $8B+ Deal

Eldorado Resorts Inc. agreed to buy Caesars Entertainment Corp. for approximately $8.58 billion in cash and stock. The move would create the largest U.S. casino operator by property count. The deal would combine all of Caesars’ Las Vegas properties, including Caesars Palace and Harrah’s, with Eldorado’s mostly southern and midwestern locations. The combined entity would

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TruAmerica Multifamily Makes Las Vegas History with $152M MF Buy

TruAmerica, in joint venture with an institutional capital partner, acquired Allanza at the Lakes, an 896-unit multifamily community in Las Vegas for $152 million. The transaction is the largest single multifamily asset deal in Nevada history. TruAmerica’s Robert E. Hart says, “We continue to fine-tune our portfolio building scale, where we have a significant presence

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Harsch Launches Another Development in North Las Vegas

Portland, OR-based Harsch Investment Properties started development of a 167,444-square-foot building located at 6101 North Hollywood Blvd., within Speedway Commerce Center IV in North Las Vegas. Speedway Commerce Center already has 2.65 million square feet of existing space, and Harsch owns and operates nearly three million square feet in North Las Vegas. Harsch Investment Properties’

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