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2002
Press Releases
2006 |
2005 | 2004
| 2003 | 2002
| 2001 |
2000-
Yuma Marine Corps Air Station
Expansion
Nov.
7, 2002 - William
J. Acton, MAI, an appraiser with Restrepo Consulting
Group LLC (“RCG”) has prepared three valuations
for a proposed 1,281-acre project expansion of the
Yuma Marine Corps Air Station military base and airport
in Yuma, Arizona for the U.S. Navy. The Yuma Marine
Corp Air Station is the principal pilot training facility
for the Marine Corps. The base expansion is intended
to accommodate the air base’s expansion needs
for the next 30 years.
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2nd
Quarter 2002 Office Market Press Release
July
16, 2002 - The
vacancy rate in the Las Vegas office market decreased
this quarter for the first time in five quarters.
While demand in most submarkets and product types
remained stable, the amount of newly completed space
finally dropped. Valley-wide net absorption actually
outpaced new completions for the first time since
Quarter 4, 2000.
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2nd
Quarter 2002 Industrial Market Press Release
July
16, 2002 - The
recovery of the Las Vegas economy that has been widely
touted in the newspapers may be becoming reality
in the Las Vegas industrial market. Although the
overall vacancy rate did increase from 8.8% in Quarter
1, 2002 to the present 8.9%, the rate of increase
since Quarter 3, 2001 has slowed dramatically. Valley-wide,
absorption fell to 113,000 sf this quarter, from
553,000 sf in Quarter 1, 2002. Much of this drop,
however, can be blamed on a relative lack of completed
construction, which supplied much of the absorption
recorded in Quarter 1. In general, brokers report
that leasing activity is strong, leading one to believe
that a return to lower industrial vacancies may be
just around the corner.
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2nd
Quarter 2002 Retail Market Press Release
July
16,
2002 - The
weakness experienced in the Las Vegas retail market
in Quarter 1, 2002 was not repeated in Quarter 2.
Absorption was positive in all but the Southwest
submarket, and completions were relatively strong.
The vacancy rate dropped to 3.2% this quarter, and
the asking lease rate remained stable at $1.46 psf.
Should demand remain stable over the next two quarters,
and if there are no further closings of anchor stores
in the Valley, vacancy should continue to remain
low through the end of 2002.
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Restrepo Consulting
Retained by St. Croix Chippewa
2002 - Restrepo
Consulting Group LLC (“RCG”) has been
retained by the St. Croix Chippewa Indians of Wisconsin,
through Shonkwiler-Marcoux Advertising, the Tribe’s
agency of record, to perform a market study for a
proposed hotel-timeshare project in St. Croix, U.S.
Virgin Islands. RCG will evaluate the proposed site
and the surrounding area, including accessibility,
transportation infrastructure, proximity to supporting
development and other issues affecting the appeal
of the project to potential customers.
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