Las Vegas real estate, mortgage, appraisal blog

In a recent article in the Las Vegas Business Press Territory Inc. is seeing the kind of potential in Las Vegas that its denizens would readily agree with. They are building almost $111 million in shopping centers this year. Despite worries of an economic downturn Territory Inc. is optimistic.

"All of our existing centers are stabilized and doing very well," Territory Chief Executive Officer Terri Sturm said. "If you have a sound project that is well located and well anchored, those centers are still doing business. We aren't seeing a lot of vacancies."

And this years expansion isn't all they're looking at:

"We have another 100 to 150 acres throughout the valley that has yet to be developed," Sturm said. "We haven't decided what to do with it yet."

Territory owns everything it builds and also handles all of its own leasing and property management. Their turnkey approach ensures that the center maintains its value for years to come.

"There is a different frame of mind when you come from the landlord's perspective," Sturm said. "We hold all of our centers for the long term, so quality is important. It's important for us have the right mix of tenants as opposed to just filling space. We want our tenants to feel that's a long-term relationship."