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twitterLV brokerage bankrupt
Friday, Feb. 14, 2003 | 11:21 a.m.
A commercial real estate brokerage that reported $66.8 million in sales and leases in the first half of 2002 has filed for Chapter 11 bankruptcy protection, a Las Vegas newspaper reported today.
In Business Las Vegas, a sister newspaper to the Las Vegas Sun, reported Lee & Associates Commercial Real Estate Services plans to reorganize its finances.
"This is a strategic decision to position Lee & Associates to grow in the coming year and increase its market share in the state," said President David Knapper.
The reorganization plan affects the company's Las Vegas and Reno offices. Knapper said the company's failed efforts to renegotiate terms of a lease for its office on the third floor of the BankWest of Nevada building at 2700 W. Sahara Ave. led to the bankruptcy filing. He said the company plans to relocate to a building that will bear the Lee & Associates name by the end of February.
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