VEGAS INC Magazine - Latest Las Vegas business news, features and commentaries about gaming, tourism, real estate and more
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IN BUSINESS TRANSPORTATION SOUTHWEST, ALLEGIANT REPORT INCREASE IN PASSENGERS By Richard N. Velotta senior staff writer Two airlines with a significant presence at McCarran International Airport reported carrying more passengers in November than they did a year ago. Dallas-based Southwest Airlines, the busiest commercial carrier at the REAL ESTATE CALIFORNIA BUYERS SNAG SHOPPING CENTERS By Steve Green senior staff writer Two Las Vegas-area shopping centers have been sold, brokers and buyers announced. Primestor Development Inc. of Los Angeles, which focuses on urban markets and the Hispanic community, said it had acquired 4G Plaza for $8.825 million. 4G is a neighborhood shopping center at 4215-4275 E. Charleston. Purchased from 4G Properties LLC, the 78,849-square-foot center is 93 percent leased. It is anchored by El Super, and other tenants include Wells Fargo, Taco Bell, Big 5 Sporting Goods and Sprint. "It is well-leased to terrific credit tenants, and is located in a densely populated Latino market," Alan Araki, Primestor managing director for investments, said in a statement. The center is the first project in Las Vegas for Primestor. Separately, Excel Trust of San Diego entered the Las Vegas-area market with the purchase for $17.5 million of Anthem Highlands Shopping Center in Henderson from Regency Centers, a real estate investment trust based in Florida. At Anthem and Bicentennial parkways, the 118,763-square-foot center is anchored by Albertsons and CVS. Other tenants include Bank of America, Wells Fargo, Pizza Hut, Starbucks and Subway. LUCESCU REALTY of Newport Beach, Calif., with a Las Vegas office, said it represented the seller. "This sale shows the local market is continuing to rebound," Frank Marretti, managing director of LUCESCU's Las Vegas office, said in a statement. | 12 DECEMBER 2011 | City National Business Banking Member FDIC 9 airport, reported a 1.7 percent increase in the number of passengers flown, while Las Vegas-based Allegiant Air had a 6.4 percent increase in passengers on scheduled service and an 8.8 percent increase systemwide that included charter flights. Southwest, which included figures from its subsidiary, AirTran, and comparative figures from November 2010 when AirTran operated independently, had 9.2 million paying passengers systemwide. For the first 11 months of 2011, Southwest passenger counts were up 2.5 percent over 2010 levels. The airline's 11-month load factor was 81 percent, up 1.3 percentage points. Allegiant, the seventh-busiest carrier at McCarran, had 443,427 passengers on scheduled service, a 6.4 percent increase over November 2010, and 482,081 passengers systemwide, an 8.8 percent increase. " City National builds relationships to last." Without a banking relationship, I don't have a business. City National has done a really great job of taking care of our day-to-day banking needs, and I was extremely impressed with the way they handled the refi nancing of our building. I don't have to worry about anything other than moving my business forward. City National is Th e way up® for me and my business. Richard Failla President, R&B Craftsmen & Associates, Inc. Hear Richard's complete story at cnb.com/thewayup. Experience the City National Diff erence. Call (702) 425-6559 or visit cnb.com, to fi nd a business banker near you. ©2011 City National Bank