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September 1, 2014

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Eli Segall

Business reporter

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Story Archive

Owner puts half of Tivoli Village up for sale
Wednesday, March 26, 2014
The owner of Tivoli Village is looking to sell half its stake in the stylish retail and office center, amid a corporate shake-up and just months after breaking ground on the project’s long-awaited final portion. IDB Group, an Israeli conglomerate, wants to sell...
Developer plans to rehabilitate ‘eyesore’ development, just one of many investors doing so in the valley
Tuesday, March 25, 2014
For vandals on the prowl, Centennial Hills Center was just too tempting. They smashed windows, sprayed graffiti and ripped out the copper from the abandoned medical-office project. As if to rub it in, they even set the elevator on fire. Some investors now bet that the Las Vegas property, despite its trashed and troubled past, will prove a big money-maker ...
New-home sales slowing, but prices still up
Friday, March 21, 2014
Las Vegas’ home construction market is softening, but that doesn’t mean buyers are scoring big, widespread discounts yet. Local builders sold 433 new homes last month, down 15 percent from a year earlier, according to a new report from Las Vegas-based Home Builders Research. The slowdown comes amid...
New owner envisions Boulevard mall, now ‘all beat up,’ as retail/entertainment hub
Wednesday, March 19, 2014
The new owner of Boulevard mall has big plans for the redevelopment of the aging retail property. He is negotiating with retail tenants and has plans for...
Henderson psychiatric care center to expand on parcel it bought from church
Tuesday, March 18, 2014
Seven Hills Behavioral Institute owner Acadia Healthcare Co. bought an undeveloped lot this month from Church LV for $3.8 million, property records show.
Laughlin: The town the recovery forgot
Las Vegas’ economy took a dive with the Great Recession, but in the past few years, tourism numbers have climbed across the board. That’s not the case in Laughlin, which continues to sink
Sunday, March 16, 2014
The town, with nine casino-resorts clustered along the banks of the Colorado River, lured 2 million visitors last year and generated $455 million in gambling revenue. But tourism, the only major industry in Laughlin, has been declining for years ...
Mixed messages from local economy
Sunday, March 16, 2014
Property values are rising at some of the fastest rates nationally, with used-home prices jumping 27 percent in the past year and new-home prices soaring 36 percent. Many listings receive multiple offers as investors gobble up homes to turn into rentals. At the same time, though ...
Developer bashes predecessor for not finishing Summerlin mall
Thursday, March 13, 2014
With construction underway again at the Shops at Summerlin, the developer is slamming his predecessor for abandoning the project due in part, he said, to...
Nevada’s foreclosure rate, while improving, is third-highest in U.S.
Wednesday, March 12, 2014
One in every 633 Nevada housing units received a foreclosure-related filing in February, down 16 percent from January and 49 percent from February 2013. Silver State homeowners weren’t the only ones facing...
After a brief break, Las Vegas home prices headed up again
Tuesday, March 11, 2014
The median sales price of previously owned single-family homes in Southern Nevada last month was $190,000, an increase of...
The surgeon soldier: Las Vegas urologist escaped civil war in Ethiopia, has served American military in Iraq
Sunday, March 9, 2014
Mulugeta Kassahun came of age in violent, revolutionary east Africa, leaving home to join a rebel group that fought Ethiopia’s military junta with street assassinations and guerrilla warfare. He didn't dream of America, but he has achieved the American dream. “He’s so not your typical doctor,” said former classmate Ali Borhan.
Construction restarts on mixed-use Gramercy project
Monday, March 3, 2014
The new owners of a once-mothballed Las Vegas real estate project have resumed construction on what they deem an “iconic” urban-style enclave. The first tenants are expected to move into the development...
Bally Technologies buys 14 acres for expansion, eyes site for new HQ
Monday, March 3, 2014
Slot-machine maker Bally Technologies has bought almost 14 acres of land in southwest Las Vegas, with plans to turn the former headquarters site of a rival into its own home base.
Return of the shopper
As the Las Vegas economy starts to regain its footing, investors buy into strip malls
Sunday, March 2, 2014
Prices are low, so retail centers are being snatched up left and right. But are we falling into the same trap that sent us into the Great Recession in the first place?
‘Elvis House’ has a storied past but a sullied present
Sunday, March 2, 2014
The house at 2520 Castlesands Way is as unique as they come in Las Vegas. Much of its sordid past is all but impossible to verify, passed on by a recent occupant and others who know about the home. But even if a fraction of their tales are true, the house has...
Fewer Las Vegans are underwater, but rate still leads country
Thursday, Feb. 27, 2014
About 35 percent of valley homeowners with mortgages were upside down last quarter, which is dramatically lower than the peak of 71 percent in 2012. For the drop, we have investors to thank.
Developer awaiting $312 million loan for Shops at Summerlin
Thursday, Feb. 27, 2014
Howard Hughes Corp. reported today that it expects to close on a $312 million loan to cover much of the construction costs for the Shops at Summerlin in...
SW Gas reports revenues up 10 percent in 4th quarter
Wednesday, Feb. 26, 2014
Las Vegas-based Southwest Gas, which provides natural-gas service to 1.9 million customers in Nevada, Arizona and California, reported its fourth-quarter 2013 earnings today.
Tony Hsieh-backed startup airline adding Las Vegas flights
Wednesday, Feb. 26, 2014
Surf Air is adding flights to and from Las Vegas. But this isn't your typical commercial carrier. You'll pay at least $1,350 a month to ride.
Amid so much gloom, signs of hope
Sunday, Feb. 23, 2014
When I moved to the valley a year and a half ago, I knew I was coming to a place with high unemployment, a battered housing market and sluggish tourism.
Little did I know just how messy things would be.
Trader Joe’s grocery coming to the Shops at Summerlin
Thursday, Feb. 20, 2014
A popular grocery chain has joined the growing list of expected retailers at the Shops at Summerlin. Trader Joe’s signed a lease for an 11,700-square-foot store at the shopping and office complex near Red Rock Resort, the company said today.
Las Vegas home prices rise; yearly gain is second-highest in the U.S.
Wednesday, Feb. 19, 2014
The median value of Las Vegas-area homes rose to $168,800 in January, and values are expected to continue climbing locally this year but at a slower rate than in 2013.
New-home sales, construction off to a slow start
Wednesday, Feb. 19, 2014
The market for the construction of new homes in Las Vegas started the year somewhat of a dud. Southern Nevada builders sold 401 new homes last month, down 22 percent from January 2013, according to a new report from Las Vegas-based Home Builders Research.
The man behind talks love — and commerce — in Las Vegas
Friday, Feb. 14, 2014
Brandon Wade isn’t your typical relationship guru. The former physics and electrical engineering student struggled to get dates and didn’t have his first kiss until he was 21. Now, on Valentine's Day, the man behind such Las Vegas-based dating sites as and discusses why the city is the ideal place for his business.
Nevada remains a top foreclosure state as new filings climb
Wednesday, Feb. 12, 2014
Banks seized a rising number of homes from delinquent Nevada borrowers last month, keeping the state’s foreclosure rate one of the worst in the country.
Blue Bell ice cream, beloved by astronauts and Texans, to hit Las Vegas freezers
Monday, Feb. 10, 2014
Blue Bell Ice Cream plans to open a distribution center near the Las Vegas Motor Speedway on March 3 and will serve customers in the Las Vegas Valley, Mesquite and Pahrump.
Southern Nevada home prices tapering off after surge
Monday, Feb. 10, 2014
Las Vegas home prices were flat in January, a not-unexpected slow start to the year. The median sales price of previously owned single-family homes in Southern Nevada last month was $185,000.
The List: Available commercial space
Monday, Feb. 10, 2014
Find out about available commercial space. This week, we rank them by available square feet.
Nevada is the gold standard for those who want to stash their cash, but that may not be a good thing
Monday, Feb. 10, 2014
Nevada is one of 15 states that lets people form “asset protection trusts” to guard stocks, bonds, real estate and other assets from creditors. Businesspeople who frequently get sued, including doctors and contractors, often use them to safeguard their wealth.
The costly obsession: Youth sports — is it worth it?
Sunday, Feb. 9, 2014
Concussions are the topic du jour these days in the NFL and NHL. Despite the concerns, there's no question athletics can, and do, benefit young people. Sports can teach children confidence, teamwork and discipline, keep them healthy, create family memories and help establish an active lifestyle into adulthood.
Work resumes on Henderson water park; Cowabunga Bay lists late May opening
Tuesday, Feb. 4, 2014
Construction crews are back to work at the delayed Cowabunga Bay Water Park in Henderson. The 23-acre attraction at Gibson Road and Galleria Drive is slated to open May 24, according to its website. The 1960s beach-themed water park was supposed to open by Memorial Day weekend 2013, but developer Shane Huish said in April that Cowabunga Bay was only half completed and would open in spring 2014 instead.
Nevadans continue to struggle with their personal finances
Wednesday, Jan. 29, 2014
Nevadans’ personal finances improved little over the past year and remain among the worst in the country, a new report found.
Home price surge may herald the return of house flipping
Wednesday, Jan. 29, 2014
Home flipping, a hallmark of Las Vegas’ housing bubble, became more popular and a lot more lucrative last year amid surging prices.
More stores lined up for Shops at Summerlin
Tuesday, Jan. 28, 2014
Developers of the Shops at Summerlin have announced more stores that plan to open at the long-delayed retail hub. They include Michael Kors, Old Navy, Sur La Table, True Religion, Sephora, Victoria’s Secret, American Eagle Outfitters, the Art of Shaving, Bath & Body Works, Buckle, Clarks, Everything But Water, It’Sugar, Pandora, Resto Lounge, Teavana and Ulta, according to developer Howard Hughes Corp.
NV Energy announces completion of 231-mile transmission line
Thursday, Jan. 23, 2014
A year behind schedule, NV Energy’s ON Line project connecting Northern and Southern Nevada electric systems is complete, officials said today. The 231-mile, half-billion-dollar transmission line runs from the Harry Allen Generating Station north of Las Vegas to the Robinson Summit Substation near Ely.
From Henderson to Prague: How kids' shoes are traveling the globe
Thursday, Jan. 23, 2014
In southeast Czech Republic, the city of Brno is a short drive from Slovakia and Austria. Flying there from Las Vegas takes a day or more. But if you happen to be passing through and need a new pair of children’s shoes, you'll find a familiar store. Pediped, a Henderson shoemaker founded by husband-and-wife team Brian and Angela Edgeworth, has partnered with a Czech retailer to open two stores in Brno and another in Prague. The stores debuted last year.
Citigroup to eliminate 160 more jobs in Las Vegas
Tuesday, Jan. 21, 2014
Management last week told roughly 220 employees at Citigroup’s sprawling back-office facility at the Lakes that their jobs either would be eliminated by October or become work-from-home positions.
Sign of recovery: Traditional home sales now dominate foreclosures and short sales
Tuesday, Jan. 21, 2014
Banks' long-held iron grip on Las Vegas’ wobbly housing market is loosening, as 70 percent of used-home sales now are traditional deals between private buyers and sellers.
Union confirms nursing layoffs at St. Rose Dominican hospitals
Monday, Jan. 20, 2014
For the second time in the past year, St. Rose Dominican Hospitals management is shedding dozens of workers, a union official has confirmed.
Report: 2013 an ‘exceptional year’ for new-housing market
Monday, Jan. 20, 2014
Las Vegas’ home construction sector had some ups and downs last year, but overall, things were much better than the previous year. Southern Nevada builders sold 7,303 new homes last year, up 32 percent from 2012.
Nevada foreclosure rate drops in 2013 but remains second-highest in U.S.
Wednesday, Jan. 15, 2014
Nevada’s foreclosure rate showed a big improvement last year but was not good enough to pull the state out of the doldrums.
2014 real estate predictions: What’s on tap for housing, retail, office and industrial space this year
Monday, Jan. 13, 2014
Las Vegas’ battered commercial real estate market is showing signs of life but remains a long way from full recovery. Last year, investors snapped up properties, landlords signed new tenants, industrial buildings sprouted and developers pushed ahead with big retail projects. Much of the same is expected this year, although the valley still faces big obstacles.
A clean slate to reinvent downtown Las Vegas
Landscape is at once mortifying and exciting
Monday, Jan. 13, 2014
Downtown Las Vegas has been a consistent bright spot in the city’s sluggish economy.
Stores and restaurants are opening, new developments are sprouting, and tech entrepreneurs are streaming in to build the valley’s geek scene.
Amid the excitement, though, another aspect of downtown is just as noticeable but not nearly as welcoming: the area’s empty, undeveloped land.
Miami firm buying Las Vegas-based chemicals manufacturer
Friday, Jan. 10, 2014
A Miami investment firm is buying Las Vegas chemicals maker American Pacific Corp., whose PEPCON plant exploded in a deadly inferno a quarter century ago, for $392 million cash.
Las Vegas home prices end year up 24 percent
Wednesday, Jan. 8, 2014
Las Vegas home prices inched higher last month to end the year far above 2012.
Property purchase raises speculation about possible expansion for Summerlin hospital
Tuesday, Jan. 7, 2014
Is Summerlin Hospital Medical Center plotting another expansion? Its owners recently bought 7 acres of undeveloped land across the street from the Las Vegas facility, property records show.
Investors snatch up four senior housing complexes in foreclosure
Monday, Jan. 6, 2014
Southern California and New York investors have teamed up to buy four distressed senior-housing complexes in Las Vegas. The $75 million acquisition — by Interwest Capital Corp. and Angelo, Gordon & Co. — closed last month.
Downtown's Ogden, Juhl among properties acquired in deal
Friday, Jan. 3, 2014
Some of the more stylish residential buildings in Las Vegas are under new ownership, several years after the recession dented their financial health. ST Residential has sold Juhl and the Ogden — two downtown high-rises — along with One Las Vegas, Loft 5 and Spanish Palms Condominiums for $237 million combined.
Enjoy science? Alright with tight quarters? Interested in space? A North Las Vegas company has the job for you
Tuesday, Dec. 31, 2013
If you enjoy science and won’t get claustrophobic living with others in a spacecraft, Bigelow Aerospace has the job for you. The North Las Vegas company is seeking “mature, well-adjusted” adults with technical backgrounds to work part time in astronaut simulation studies.
It's official: Warren Buffett is in the Nevada energy business
Thursday, Dec. 19, 2013
Billionaire Warren Buffett has completed his purchase of NV Energy, whose chief executive is retiring and being replaced by a Buffett underling.

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