Retirement complex touted as kosher

A new retirement and assisted-living community planned in Henderson is being touted as the only kosher retirement community in the Las Vegas Valley.

Merrill Gardens at Green Valley Ranch is licensed for 125 residents in 88 one- and two-bedroom apartments at 1935 Paseo Verde Parkway, across from Midbar Kodesh Temple.

Steve Delmore, executive vice president of Seattle-based Merrill Gardens, said the $32 million facility will have a 2,500-square-foot kosher kitchen divided into dairy and meat departments.

"Because of where it's located, it's going to be a predominantly Jewish community," Delmore said Thursday at a groundbreaking ceremony. "The architect (Howard Perlman) and the developer, SRM out of Spokane (Wash.), and the operator all worked together on this concept. They wanted to complement the area they were in, right across from the temple."

Merrill Gardens is open to retirees of all denominations, he added.

Residents will eat restaurant-style meals in the dining room with no set dining hours. The community will also provide wellness activities.

Merrill Gardens operates 53 retirement communities in eight states. This will be their second in Nevada with the other one in Gardnerville.

The 3-acre site was purchased about a year ago for $4.5 million and the cost per unit at Merrill Gardens is about $170,000, Delmore said. Estimated completion is summer 2009.

SANDWICH SHOPS: Gatski Commercial Real Estate Services is representing Las Vegas-based Capriotti's Sandwich Shop in selecting expansion sites.

Capriotti's, with 20 locations in Southern Nevada, is opening its first shops in Reno and San Diego this year. The plan is to open five to 10 more stores in the Las Vegas Valley in the next year and expand into other markets within the next several years.

Gatski vice president Rob Lujan said he's primarily looking at 1,000 square feet to 1,500 square feet in anchored neighborhood retail centers with great visibility and high traffic.

RETAIL REPORT: The outlook for single-tenant retail properties should improve through the second half of the year as the economy is expected to gain momentum, a midyear report from Marcus & Millichap, an Encino, Calif., real estate investment services company, said.

Capitalization rates on grocery stores rose 80 basis points from a year ago to 7.3 percent.

Sales velocity for grocery stores has fallen by nearly 20 percent over the last 12 months.

However, supermarkets may be one of the few segments to register strength in sales going forward as consumers change their spending habits and prepare more meals at home, the report said.

Contact reporter Hubble Smith at hsmith@reviewjournal.com or 702-383-0491.