2016 In Las Vegas
The Numbers are in! Las Vegas, Nevada had an incredible 2016. Our team has gathered the stats for last year and outlined the contributing factors to the city's success.
- Tourism offices reported a record 42.9M Las Vegas visitors
- Nevada casinos earned a profit for the first time since 2008
- $1.9 billion, 65,000-seat stadium approved by Nevada Legislature. The NFL Oakland Raiders are in the process of applying for relocation with the league.
- The 20,000-seat T-Mobile Arena opened in April
- New National Hockey League Franchise ‐ the Vegas Golden Knights will play in the T-Mobile Arena starting in the 2017-2018 Season.
- Indianapolis-based Simon Property Group and Atlanta's Invesco acquired The Shops at Crystals for $1.1 billion in April. New York investment firm TIAA acquired a 50 percent stake in Fashion Show for $1.25 billion a few months later. In October, Illinois-based Miller Capital Advisory and California public pension fund Calpers bought Miracle Mile Shops. The sales price was said to be approximately $1.1 billion.
- The City of Las Vegas is now drawing 100 percent of its power from renewable energy sources
- Question 2 was passed, making it legal to use recreational marijuana in Nevada
- In October 2016, the Nevada State Legislature approved legislation to help fund the expansion and renovation of the Las Vegas Convention Center. The project will add 600,000 square feet of exhibit space, new meeting rooms and other amenities; as well as renovating the entire existing Convention Center.
Dan & Natalie in NYC for the
SIOR Conference & CREW Convention October 2016
Team Palmeri ‐ Wainwright also had a banner 2016!
Our team is pleased to report we also had a successful 2016.
- 370,000 SF Leased
- 64 Transactions completed valued at $42.1 million Dollars Read More
- Dan received the prestigious SIOR designation, becoming 1 of only 2,900 practitioners who hold the designation worldwide.
- Dan was the #1 Broker for 2016 in the Cushman & Wakefield Las Vegas Office
- Natalie was elected President-Elect of CREW ‐ Las Vegas Read More
- Dan was elected the Director of Programs for CREW ‐ Las Vegas Read More
- Dan spoke on the Southern Nevada NAIOP's Breakfast Panel in August Read More
- Natalie was announced to the Board of Directors of CALV Read More
- Dan launched a volunteer network within Cushman & Wakefield
Did you know you should start 12 ‐ 18 months out when negotiating your lease?
See our downloadable timeline on the time it takes to effectively negotiate your lease Read More
Dan Palmeri, SIOR
+1 702 688 6909
+1 702 688 6939