The office space component of Nevada’s commercial real estate market faces a long recovery following the recession. Vacancy and unemployment rates were high, inventory was excessive and landlords struggled to effect leases. In addition, after the recession new construction activity and investor property acquisitions had ceased. Typically, the sector tends to be the last to … [Read more...] about Nevada’s Office Space: Positive Headway
Heart & Soul: Nevada’s Downtowns
Downtown areas, the core of every city, should provide a central gathering place for all residents and attract visitors and businesses as well. However, Nevada’s major metropolitan spots haven’t yet acheived that to the degree desired according to experts. Most development and redevelopment momentum stalled during the recession. Today, however, several Nevada cities, along with … [Read more...] about Heart & Soul: Nevada’s Downtowns
Mining: It’s About More than Gold
The value chain for Nevada’s roughly 20 metals and minerals begins with companies mining the resources. This benefits the miners and their employees monetarily and the communities around those mines where dollars are spent, donations are made and other commitments are carried out. Mining firms require goods and services at each stage of their process—exploration, … [Read more...] about Mining: It’s About More than Gold
I am a CCIM
Mission Statement To position the Chapter as the premier commercial real estate organization for Southern Nevada by enhancing the value of the CCIM designation and increasing the number of designees and candidates through professionalism and educational excellence. Here’s what “I Am a CCIM” means to these designees: Brian Sorrentino: “It means that I should know … [Read more...] about I am a CCIM
Nevada’s Tourism Industry: Going Strong
Nevada’s tourism industry, like several other industries in the state, has experienced a recent uptick in business. For example, just last month, the Reno-Sparks Convention and Visitors Authority (RSCVA) beat out Tampa, Phoenix and San Juan, Puerto Rico, to book the rare 18,000-room American Legion national convention for 2020. Additionally, developers began work on Resorts … [Read more...] about Nevada’s Tourism Industry: Going Strong
Slow & Steady: Nevada’s Luxury Home Market Regains Traction
A newly built, 6,400-square foot, 5-bedroom, 5-bathroom custom home in Incline Village with Lake Tahoe views sold about seven months ago for $5.1 million. The two-story boasted hickory floors, granite countertops and fireplace, knotty alder cabinets and doors, vaulted ceilings, a heated driveway, elevator, first-floor master, game room, wine closet and deck and more. The … [Read more...] about Slow & Steady: Nevada’s Luxury Home Market Regains Traction
Healthcare Check-Up: Nevada Works to Deliver Health Amid Shortages
At this point in the year, the initial stages of the Affordable Care Act (ACA) have already been implemented. The results show that, while the state has moved forward in many healthcare arenas, Nevada still has a long road ahead. More Nevadans Covered Data showed that during the recent enrollment period, 72,000 Nevadans applied for and enrolled in health insurance plans … [Read more...] about Healthcare Check-Up: Nevada Works to Deliver Health Amid Shortages
Banking In Nevada: Beginning to Flourish
This year, Las Vegas-based Ear Nose & Throat Consultants of Nevada obtained financing from City National Bank for ground-up construction of a 13,000-square-foot surgery center. This is one of many Silver State businesses contributing to increased demand for banking services. “Businesses cannot ignore the need for growth now,” said John Wilcox, the Nevada regional … [Read more...] about Banking In Nevada: Beginning to Flourish
Mining: Progress Amid Tough Economics
From lowering gold and silver prices to sage grouse habitat protection, Nevada’s mining companies today face challenges that hurt their bottom line. Yet, many continue to forge on, creatively tackling difficulties and working to advance projects. “Different aspects of the industry are struggling, but our ability to be sustainable is greater now than ever because we’ve … [Read more...] about Mining: Progress Amid Tough Economics
Technology Trends in the Silver State
In December 2011, Frederick Cook and Kelly Eidson co-founded a business that aims to make moving one’s office or home a seamless, problem-free process. Using its proprietary technology, this Las Vegas firm acts as the intermediary between people who need moving services—truck rentals, full-service movers, pods, freight trailers and more—and the companies that provide those. … [Read more...] about Technology Trends in the Silver State
Nevada Land Market Continues to Recover
Demand for land in Nevada has resembled a rollercoaster pattern this decade. During the real estate boom in the first half of the 2000s, both residential and commercial developers hungrily purchased land, driving up prices. With the recession, the opposite happened; development nearly ceased, land demand decreased and so did the price. Again, the pendulum has begun to swing … [Read more...] about Nevada Land Market Continues to Recover
Elko Catches Up to Growth
While the rest of Nevada suffered the dramatic 2007 economic downturn and aftermath, the Greater Elko region boomed, primarily due to bustling mining operations resulting from a high gold price. In fact, over the last decade, the population there has burgeoned. The City of Elko alone went from about 10,000 to 20,000, with the broader Elko area home to about 30,000. “It’s … [Read more...] about Elko Catches Up to Growth
CCIM: Join the Club
After Nevada’s economic downturn and resulting real estate crash had begun, Cindy Santilena, a Las Vegas commercial real estate lender for small businesses and entrepreneurs, was looking for a way to highlight herself and her company when working with other industry professionals during a struggling, competitive market. She decided to pursue a CCIM, a prestigious certified … [Read more...] about CCIM: Join the Club
Health Insurance Update: The Real Cost of Healthcare
The healthcare industry, over many years, has been undergoing a gradual but major shift in how insurers pay providers. Against that backdrop, the state began implementing the Patient Protection and Affordable Care Act’s (ACA) mandates, several of which the federal government has delayed or amended since. The ACA or Obamacare, as it has become known, has caused additional … [Read more...] about Health Insurance Update: The Real Cost of Healthcare
Henderson: Built to Suit
Henderson, now in its 61st year, has evolved into a first-rate location for companies. Today, this progressive city delivers exceptional services and amenities for businesses, living up to its moniker: the Las Vegas Valley Address for Business Success. It’s home to many nationally and regionally known enterprises; others are in the process of making it so. More than 10,000 … [Read more...] about Henderson: Built to Suit