Rozental Leavitt Construction & Development Company

Founder: Yuri Rozental, MS Engineering
Licensed Commercial Real Estate Broker-Developer and General Contractor

Master degree in engineering from one of the oldest European Universities in Heidelberg, Germany, moved to Las Vegas in1998 from Frankfurt, Germany. In the last three years developed and built several retail centers in Las Vegas, 35,000 Sq Ft Spanish Palms Plaza, 28,000 Sq Ft Stetson Ranch Plaza with underground parking and 38,000 Sq Ft South Maryland Plaza with underground parking (total over 25,000,000 USD)

Founder: Scott Leavitt
Licensed General Contractor with over 30 years construction experience in Las Vegas.

Leavitt Enterprises, a family owned and operated Construction Company since 1976, has decades of experience in the construction field, which allows us the confidence and knowledge to complete all jobs in a well-organized and proficient manner.

In the past 6 months we completed over 15 TI’s Spaces (total over 1.5 Million USD), $500,000 Convenience Store ‘Lazy Cow” on the front pad of Stetson Ranch Plaza. New constructions: The second location of “Lazy Cow” Convenience Store on South Maryland Pkwy and Cougar ($600,000), 10,000 Sq Ft Retail Building on South Maryland Pkwy and Levi ($950,000), 3 new TI’s Spaces in South Maryland Plaza ($500,000)

Please contact Yuri Rozental at (702) 234-7576 and Scott Leavitt at (702) 232-8469 or e-mail us at yuri@yuribroker.com if you have any questions regarding this matter.

Commercial Real Estate Development Organization

The management philosophy of First Commercial Realty & Land Development is based on respect for each of our fellow employees, respect for every client, and individual responsibility. In real estate, the management team possesses a breadth of functional experience in commercial property brokerage, leasing, and investment concept development.

First Commercial Realty & Land Development was incorporated in the state of Nevada and is headquartered in Las Vegas. The company's only shareholder is the founder - Yuri Rozental

First Commercial Realty & Land Development is currently in the design and developing process for 200,000 Sq Ft medical high-rise building in the future Union Park project in Downtown of Las Vegas.

First Commercial Realty & Land Development is developing 25,000 sq ft, one day surgical center in Southwest Las Vegas, 90,000 sq ft, industrial warehouse development in North Las Vegas and 28,000 sq ft Stetson Ranch Plaza with underground parking in the Southwest.

First Commercial Realty & Land Development owns several stocks of South Maryland Plaza, LLC. - The construction and development company for S. Maryland Plaza; A 40,000 sq ft shopping center located on S. Maryland Pkwy & Levi in Las Vegas, NV (St. Rose Pkwy/ S. Maryland Pkwy)

 
 

Real Estate News around Las Vegas.

REAL ESTATE: Commercial market still strong
From : Las Vegas Newspapers , Real Estate By HUBBLE SMITH

The commercial real estate market has been propelled by an unusual recession, one in which U.S. consumers showed unjustified confidence in spending and new home sales reached record levels despite marginal income growth and substantial job losses.

"Part of what kept real estate alive was refinancing," Hessam Nadji, managing director of research services for Marcus & Millichap, said last week at a retail economic overview presented by the brokerage in conjunction with the International Council of Shopping Centers convention in Las Vegas.

With interest rates at 40-year lows, homeowners took out $53 billion in equity through refinancing, money that was used for home improvements and big-ticket purchases.

Retail spending was up 8 percent in the first quarter. "It's no wonder retail has done so well," Nadji said.

The retail investment market performed well during the recession as property values continued to rise, vacancy rates remained stable and landlords were able to increase rents incrementally.

If investors can find value in a retail property, they'll buy it, said Mark Finerman, managing director of RBS Greenwich Capital Markets and a panelist at the Marcus & Millichap event.

"They're even willing to take returns lower than what they're used to receiving," he said.

Investors look for high capitalization rates, commonly called cap rates, a function of the property's purchase price, net operating income and interest rate for financing.

Typically, an attractive cap rate for the buyer is 8 percent to 9 percent, while the seller likes something in the 4 percent to 5 percent range.

"When you look at the West Coast, buyer demand remains very strong," said Stuart Tanz, president and chief executive officer of Pan Pacific Retail Properties, a San Diego-based real estate investment trust that owns and operates 130 shopping centers throughout the West, including several in Las Vegas.

"When you look at the profile of buyers, not only in the private sector but the public sector as well, supply continues to be restrained in our markets."

Marcus & Millichap is listing a 49,550-square-foot Las Vegas shopping center on Decatur Boulevard, south of Charleston Boulevard, for $6.2 million with a cap rate of 8.52 percent.

It's anchored by a 99-Cent Only Store and Big 5 Sporting Goods and is across from Westland Fair, which has a Wal-Mart Supercenter and Lowe's Home Improvement.

Another property, Flamingo Marketplace at Flamingo Road and Cambridge Street, is listed for $4.7 million with a 7 percent cap rate. It's a single-story, 16,000-square-foot building a 1 1/2 miles from the Strip

Nadji said potential risks to the retail market include higher interest rates, slow wage growth and debt-laden consumers who may be pulling back on spending.

Glenn Rufrano, chief executive officer of New Plan Excel Realty Trust, said retailers are reading the charts, watching the gross domestic product grow at 4.4 percent in the first quarter and looking to expand.

"Life feels too good," he said. "The capital markets have been good to us. There's plenty of capital out there across the country. The key is supply of product. I think there's been a dearth, but I think it's changing."



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