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Lorne Polger Polger: “Since the bottom, average rent has increased by more than 20%. We expect rents to continue to grow as the supply remains somewhat limited.”

SAN DIEGO—Solid population growth, a more diversified economy, job creation and limited new supply are the key reasons the Las Vegas commercial real estate market is coming back, San Diego-based Pathfinder Partners’ senior managing director Lorne Polger tells GlobeSt.com. The firm recently acquired Tierra Bella, an 98-unit apartment community at 10620 Alexander Rd. in Las Vegas for $12.5 million from what Real Capital Analytics reports was a joint venture between National Commercial Ventures and RAIT Financial.

According to Polger, the deal marked Pathfinder’s third acquisition in the area. Last year, Pathfinder acquired 39 of 83 units in Park House Condominiums near Summerlin and 64 of 409 units in the Sky Condominiums on Las Vegas Blvd.

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Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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