The future of retail arrived with an unexpected, massive thunderclap this spring. Now retailers, shopping center developers and real estate brokers who specialize in commercial properties are looking over a landscape dramatically changed by the COVID-19 pandemic, identifying winners and losers and making predictions about the future of retail as it continues to unfold. Nobody … [Read more...] about Waiting for the Dust to Settle
Uncertain TimesMultifamily in Nevada
April was set to be yet another busy month for sales of apartment complexes in Nevada, one of the hottest multifamily markets in the country. And then, all of sudden, it wasn’t. After state and local governments mandated business closures — with resulting job losses — to battle the COVID-19 pandemic, multifamily investors, developers and managers stepped back … [Read more...] about Uncertain Times
Healthcare in NevadaA Look at Hospitals in the Silver State
As Nevada’s hospital executives began gearing up quickly during March to deal with the challenges of the coronavirus, most of them could take some comfort from the knowledge that their institutions were working from a solid financial base. From Henderson to Reno, the combination of good financial performance and increasing demands presented by population growth … [Read more...] about Healthcare in Nevada
Promises and PitfallsGovernment Projects in Nevada
As privately-funded construction booms around Nevada, projects from public agencies are adding fuel to the already hot market. But contractors eyeing big public works jobs in the pipeline find themselves dealing with new, sometimes troublesome rules. The stakes are high with a lot of big construction contracts in the pipeline. Follow the Funds A $347 million plan for … [Read more...] about Promises and Pitfalls
Office ProjectsFor a New Generation
The signals to office developers to develop are typically simple. Economic growth creates demand for office space, existing buildings begin to fill, rents rise and developers can make new projects pencil out. That’s happening, sort of, across Nevada these days. Vacancy rates in office buildings have fallen to about 12 percent in Las Vegas and about 11 percent in Reno, and … [Read more...] about Office Projects
Economic ForecastBuilding on Nevada’s Strong Economy
As Governor Steve Sisolak looks at the state’s strong economic performance at the dawn of a new decade, he sees it well-positioned to make investments that will create jobs and wealth for years to come. Top economists expect Nevada’s strong performance will continue into the New Year and that optimism, Sisolak says, creates an opportunity to address long-term economic … [Read more...] about Economic Forecast
Strategic PlaysGolf Course Communities Widen Amenities
A successful luxury golf course community these days really isn’t about the golf, explained Rich MacDonald. Instead, the owner of DragonRidge Country Club in Henderson said the golf communities that thrive are those that deliver opportunities for strong social connections — times for members to mingle over a glass of wine, share a laugh over a good dinner, stretch during a … [Read more...] about Strategic Plays
RetailFocus on the Experience
Once upon a time — say, 10 years ago — retail was all about selling stuff. But as the business of selling stuff continues to move online, the word of the moment among retailers and shopping center owners is “experience.” “Experience is a big part of what retailers are looking to incorporate now, whether this is in the form of innovative interiors, games or mobile pickup,” … [Read more...] about Retail
Professional SportsThe Big New Game in Town
Read "The Business of Sports" by Jennifer Ko Craft With its $1.8 billion budget, the spectacular new Allegiant Stadium — home of the NFL’s Raiders beginning in 2020 — is the biggest, highest profile construction project in Las Vegas in recent memory. But for all the economic benefits of the construction, the new stadium is merely the beginning of a powerful wave … [Read more...] about Professional Sports
Lending BoomCRE Financing in Nevada
Developers of commercial projects in Nevada these days are likely to field calls from a growing number of lenders eager to make loans to build or buy office buildings, retail centers and industrial projects in the booming state. But memories remain strong of the collapse of the commercial lending market in Nevada during the Great Recession that began in 2008. … [Read more...] about Lending Boom
Protecting Your Intellectual PropertyLaw Practices Booming
Ask an attorney who specializes in intellectual property (IP) law just about any question, and the answer is likely to be the same. Should a company file for a patent? It depends. Should a business file for an injunction to stop unauthorized use of a trademark? It depends. But one question isn’t getting the stock answer these days. How’s business for intellectual property … [Read more...] about Protecting Your Intellectual Property
Balancing the Boom: How Utilities Strive to Keep Up with Developers
Nevada’s utility providers, facing a wave of requests from developers who need water, power and natural gas service for their projects, increasingly rely on digital solutions to help move applications along. At the same time, utilities emphasize one of the oldest strategies in the book to reduce the possibilities of delay. They encourage development teams to meet … [Read more...] about Balancing the Boom: How Utilities Strive to Keep Up with Developers
A Home Run: Nevada’s Residential Market
It’s a simple law of Nevada economics: When folks are working, they buy houses. And when they’re making good money, they buy better houses. Those economics are driving stronger residential sales and construction across the state, and executives see little reason for worry about the continued health of the residential sector. Employers added 37,700 positions statewide during … [Read more...] about A Home Run: Nevada’s Residential Market
Legal Concerns: Law Firms Today
Lawyers have always served as society’s designated worriers, but Nevada’s legal practitioners seem to be wringing their hands a little more than usual these days for several reasons. While the resurgent state economy is creating lots of opportunities, a strong economy also creates its own set of challenges. Lawyers worry about the arrival of big competitors from out of … [Read more...] about Legal Concerns: Law Firms Today
Credit Unions: The Growth of Financial Cooperatives
Even in an era filled with bright economic statistics, the mid-year report from the Credit Union League of Nevada stood out. The industry group reported that credit union deposits in Southern Nevada rose by 8 percent year-over-year while total loans were up 10 percent. In booming Northern Nevada, mid-year deposits rose 12 percent over year-earlier numbers and loans … [Read more...] about Credit Unions: The Growth of Financial Cooperatives