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Asurion to Open Call Center in North Las Vegas; U-Haul Opens Self-Storage Facility

28 May 2014, 5:25 pm

By Alex Girda, Associate Editor

In a significant boost for the North Las Vegas office market, Asurion L.L.C. plans to open a 90,000-square-foot call center at the Montecito Point office complex. The Nashville, Tenn.-based provider of insurance for mobile devices says that it will hire 500 people in the next year and 800 people over the next five years at the facility, which is located at 6605 Grand Montecito Parkway near U.S. Highway 95 and the Las Vegas Beltway.

According to The Las Vegas Review-Journal, the announcement comes after Asurion made a pitch for tax incentives in January to the Governor’s Office of Economic Development.

In other news, the newly acquired and rebranded U-Haul Moving and Storage at 3083 W. Lake Mead Boulevard is now open. Formerly known as Pic-N-Pac Storage, the facility includes a two-story self-storage facility as well as a one-story self-storage building that also includes office space and an apartment.

Completed in 2005, the facility offers 634 indoor and drive-up units, 534 of which are air-conditioned.

According to a statement from U-Haul Co., the new facility reflects the company’s support of infill development to help communities reduce their carbon footprint. The use of existing buildings helps minimize energy and resource consumption associated with new construction.

Photo courtesy of U-Haul Co.



Blackstone Acquires The Cosmopolitan from Deutsche Bank in $1.7 Billion Deal

21 May 2014, 7:59 pm

By Alex Girda, Associate Editor

In one of the year’s largest asset sales, Deutsche Bank has agreed to sell the Cosmopolitan to Blackstone Real Estate Partners VII for $1.73 billion.

 According to Pius Srenger, head of  the bank’s non-core operations unit,  the deal is part of the company’s Strategy 2015+ which aims to reduce Deutsche’ Bank’s“non-core legacy positions in a capital efficient manner which benefits shareholders.”

For Blackstone, the Cosmopolitan marks the latest addition to a growing portfolio that also includes a stake in Caesars Entertainment, approximately 1,000 homes and the Hughes Center business park.

The Cosmopolitan is a 6.7 million-square-foot, 3000-key resort that extends across 8.7 acres. Also included is a 110,000-square-foot casino, about 300,000 square feet of retail and dining space, a 40,000-square-foot fitness center and spa, a 1,800-seat theater, as well 165,000 square feet of meeting space. The property was designed by the Friedmutter Group with help from Aquitectonica for the exterior design features, while DeSimone Consulting Engineers was responsible for engineering during the construction process.  

Image courtesy of fglv.com



MGM Resorts Unveils Plans for The Park, Promenade Linking New York-New York, Monte Carlo

14 May 2014, 9:51 pm

By Alex Girda, Associate Editor

MGM Resorts International recently unveiled plans for a  pedestrian-friendly transformation of part of the Las Vegas Strip. Dubbed the Park, the eight-acre destination will bridge the area between the New York-New York and Monte Carlo resorts, which are adding plaza-like spaces that will feature additional entertainment and dining attractions.

Envisioned as a sun-filled, resort-like promenade, the Park will provide common areas with distinctive landscaping, social spots, relaxation areas and patio-style furniture. Water features will also be part a vibrant atmosphere that will encourage street performers to entertain passers-by.

At night, the Park will turn into an urban walkway, with LED lighting fixtures taking over the landscaping. Shade structures will feature light sequences from above, while live music from the open-air venues will add to the energy. The dining venues that will draw visitors throughout the day include Shake Shack, Bruxie, Sake Rok, Beer Garden, A Robert Mondavi Jr. Wine Experience, Dierks Bentley’s Whiskey Row and Cuba Libre Restaurant & Rum Bar.

The Park will feature eco-friendly initiatives, in keeping with MGM Resorts’ practice of developing LEED-certified facilities. With designs provided by master-planner Cooper, Robertson & Partners, architecture and urban-design firm !melk, as well as Marnell Architecture, the Park will pursue LEED Gold certification.

Rendering courtesy of newyorknewyork.com



SolarCity Expands to Nevada, Will Serve Metro Las Vegas Starting this Fall

7 May 2014, 8:43 pm

By Alex Girda, Associate Editor

In recent years, solar power has become a viable power source for residences in sun-drenched California and Arizona. Now, Nevada is seeing serious interest from a major provider. SolarCity recently announced plans to expand its operations in the state, beginning with residences in metropolitan Las Vegas.

SolarCity will begin its homeowners’ coverage for a monthly $30 fee, a rate considerably lower than what a conventional utility would charge. The solar power provider will offer design, installation, financing, insurance, monitoring and a performance guarantee. Installations will begin in October on a first-come, first-served basis.

The company will participate in NV Energy’s SolarGenerations program, which is scheduled to begin this summer. Initially, the program will be available to NV Energy customers in Las Vegas, North Las Vegas, Spring Valley, Winchester, Paradise, Henderson and Boulder City.  

According to a statement, the move could also boost the market for greeh tech-related jobs. SolarCity will double its current 400-member workforce in the state, thus making Nevada the company’s largest location. The company has been dominant in the solar power-heavy markets of California and Arizona, with a current cap of nearly $4.9 billion.



MGM Resorts Plans $86M Expansion of Mandalay Bay Convention Center

1 May 2014, 12:05 am

By Alex Girda, Associate Editor

Mandalay Bay Resort and Casino plans an $86 million expansion of its convention center that would increase its convention space to more than 2 million square feet.

The project would expand the 1.7 million-square-foot convention center by 350,000 square feet. MGM Resorts International, Mandalay Bay’s owner, said in a statement that additional improvements are planned, including a new underground parking structure and new exhibit space.

Also in the pipeline is a 70,000-square-foot ballroom that can be divided into five sections, allowing greater flexibility and more breakout areas for corporate groups.

When complete, the additions will boost the Mandalay Bay Convention Center’s total square footage from seventh to fifth in the nation, and its expanded 1.1 million square feet of exhibit space will bump up the property from No. 11 to No. 5. Construction is scheduled to begin late this year, followed by the opening of the new exhibit space in August 2015. The rest of the new facilities will come on line in January 2016. The additions will meet LEED Gold standards.

Image courtesy of mandalaybay.com







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