Lake Las Vegas Real Estate Market Is on the up and up!

Despite very sluggish sales in comparison to 2005 in the Las Vegas residential home market is on the up!

investors and speculators alike are rushing to buy this quality prime location property for their investments and portfolios . Intrawest, who held several retail buildings in the Monteloago Village development, have put up 12 retail buildings for sale several weeks ago.

The properties received more than twenty offers in a matter of hours, a lot of these offers were at or above the $23 million U.S.dollar  price tag. According to the Clark County records, these commercial developments were purchased for $23.5 million U.S. Dollars by Pacific Capital, a longstanding and notarised private investment equity group based in Roseville, California.

The final purchase price comes in at about just over $455.00 per square foot of development.

The purchased buildings were built in the middle of 2003 and have a total 51,500 square feet and were approximately 93% lease occupancy at the time of sale. Some of the fantastic tenants base include Starbucks, Como’s Steakhouse, Luna Rossa, Bistro Zinc, Sunset & Vines and Rocky Mountain Chocolate Factory.

Montelago Village was designed to resemble an old-world Italian lakeside village with cobblestone streets, piazzas and open-air dining. Projects around the lake include several beautiful Lake frontage condos like Viera, Mantova, Luna di Lusso and Prima as well as the luxury lake side homes and also available are custom home sites. Residents and non-residents of Lake Las Vegas enjoy a variety of water sports and other amenities available on this magnificent man made lake. For the golfing fraternity there are three different world class courses and a variety of shopping arcades and fine dining areas.

[Las vegas, Real Estate]

Popularity: 27% [?]