Commercial real estate development not slowing down

Commercial real estate in the city of Henderson just received a jolt. Phoenix-based Vested Housing and Principal Real Estate Investors have partnered to acquire a 16-acre site in Henderson. The acreage is approved for a 350-unit apartment community and was purchased for $10.5 million. Constructed is slated to start in early 2008.

The project will be called Henderson lofts and will include a pool, fitness center and clubhouse. Units will have 10' ceilings, tuck under garages and granite counter tops. The building site is located on Wigwam Parkway, east of Stephanie. Expect rents to be at a premium upon completion of construction.

Related:
Commercial real estate in Lake Las Vegas