LAS VEGAS-The local hotel market gained 7,500 new rooms in 2008 and average occupancy rate fell to 76.7% from 87.4% in 2007. This year, more than 13,000 new hotel rooms are still expected.

SACRAMENTO-The apartment REIT, in the process of exiting the Sacramento market, puts two more assets here on the block after selling four last year.

SACRAMENTO-The apartment REIT, in the process of exiting the Sacramento market, puts two more assets here on the block after selling four last year.

LAS VEGAS-Steve Leonard and Blake Issaccson say commercial property values here are returning to a place where value-oriented investors can make some money.

LAS VEGAS-Steve Leonard and Blake Issaccson say commercial property values here are returning to a place where value-oriented investors can make some money.

LAS VEGAS-The amount of acreage that changed hands in 2008 was half that of 2007, and values are off more than 50% from their peak, according to a new report.

LAS VEGAS-The amount of acreage that changed hands in 2008 was half that of 2007, and values are off more than 50% from their peak, according to a new report.

PALO ALTO, CA-Simon Property Group, which purchased the 1.4 million-square-foot development in 2003 for $333 million, plans to add a hotel and another 240,000 square feet of retail to the 70-acre site.