Northern Nevada By Colliers | Reno Reno’s office market has continued to show its resilience one year into a once-in-a-century pandemic. Reno’s office demand has stabilized in the first quarter of 2021 and vacancy has only slightly ticked up over the last year. Office vacancy saw a 20-basis point decrease since the previous quarter, from 13.6 percent at the end of 2020 to … [Read more...] about Commercial RE Report
Business IndicatorsJune 2021
The “advance” estimate of U.S. real gross domestic product (GDP) for the first quarter of 2020 experienced a strong gain of 6.4 percent at an annual rate, bringing the gap from the pre-pandemic peak to within one percent. This strong recovery was boosted by a surge in consumer spending that probably incorporated the second and third stimulus checks. In addition, government … [Read more...] about Business Indicators
Last WordWhat is Your Lie You Tell Yourself Most Often?
Colby Frey Co-Founder and CEOFrey Ranch Distillery “The lie I tell myself most often is that I don’t need another tractor for the farm [and] distillery.” Delani Denton Digital Marketing StrategistAdlava “I can definitely have another coffee; it won’t keep me up.” Michael Kelly Managing PartnerThe Little Vegas Chapel “I have to think that every … [Read more...] about Last Word
Industry FocusEconomic Development
The importance of a diversified economy has never been clearer than in the aftermath of the COVID pandemic. Economic development agencies have an important role to play in bringing companies to Nevada and helping create that diversification. Recently, executives representing this industry met in a virtual roundtable, sponsored by City National Bank, to discuss these vital … [Read more...] about Industry Focus
David R. Navarro
SVP / Director of Commercial BankingPacific Premier Bank Type of Business: BankingBased In: Las Vegas, NevadaHails From: Las Vegas, Nevada Years Co. has been in Nevada: 04Years with Company in Nevada: 03Employees with Company: 10 What was your first job? My first job was as a bus boy for a local burger restaurant here in Las Vegas when I was in high school. Who … [Read more...] about David R. Navarro
New RealityUpskilling & Reskilling Become Commonplace Necessities in Workplaces
“Companies that invest more in digital transformation actually outperform their peers over time. These companies are more prepared for disruption, better able to monetize new digital channels, and better build a bigger user base. What’s more, this phenomenon exists regardless of industry.”Geoff Cubitt, CEO, Isobar US The digital transformation, coupled with an … [Read more...] about New Reality
Around the StateMay 2021
PUCN Approves NV Energy’s Greenlink Nevada Initiative The Public Utilities Commission of Nevada (PUCN) has approved NV Energy’s proposed Greenlink Nevada transmission and renewable energy initiative. The initiative will tap into renewable energy zones throughout western and northern Nevada to accelerate the development of clean energy on public lands and increase electric … [Read more...] about Around the State
Commercial RE ReportIndustrial Summary First Quarter 2021
Northern Nevada By CBRE Reno The northern Nevada industrial market continued to build off its momentum from the previous year by posting strong market fundamentals again in Q1 2021. Gross absorption for the quarter reached 1.9 million square feet (SF). Net absorption was also robust, posting a positive 1.3 million SF. Low vacancy rates have allowed for sizable increases … [Read more...] about Commercial RE Report
Business IndicatorsMay 2021
The “third” estimate of U.S. real gross domestic product (GDP) for the fourth quarter of 2020 increased 4.3 percent at an annual rate, revised up by 0.2 percent from the previous estimate. This reflected larger private inventory investment than previously reported, which was partly offset by a downward revision in nonresidential fixed investment. Retail sales in February were … [Read more...] about Business Indicators
Last WordWhat Advice do you Have for Someone who is New at Managing People?
Ava Lemieux Branch Manager MesquiteAmerica First Credit Union “Lead by example. Don’t expect your team to do anything you wouldn’t do yourself. Be true to your word. Follow through with promises and consequences. Always respect and value opinions.” Chuck Mohler CEOEagle Corporate Advisors “Be selfless. You are only as good as the people you manage. Value each … [Read more...] about Last Word
Industry FocusCommercial Brokers
The past year of pandemic related hurdles has presented unique challenges for commercial real estate (CRE) professionals. Each submarket was affected differently by COVID and the market shifted to reflect those changes. Recently, executives representing commercial real estate in Nevada met virtually in a roundtable sponsored by City National Bank to discuss the changes to the … [Read more...] about Industry Focus
David Garcia
Executive Director, Head of Nevada J.P. Morgan Private Bank Type of Business: Private Bank Based In: Southern Nevada Hails From: New Orleans, Louisiana Years Co. has been in Nevada: 01 Years with Company in Nevada: 01 Employees with Company: 10 What was your first job? Delivering newspapers with my father. What do you want your legacy to be? A loving husband and … [Read more...] about David Garcia
Around the StateApril 2021
Sand Reaches Agreement to Sell Las Vegas Property Las Vegas Sands Corp. has entered into definitive agreements to sell its Las Vegas real property and operations for approximately $6.25 billion. The Venetian Resort Las Vegas and the Sands Expo and Convention Center are both part of the agreement. Under the terms of the agreement, an affiliate of funds managed by Apollo Global … [Read more...] about Around the State
Commercial RE ReportRetail Summary: Fourth Quarter 2020
Northern Nevada By Dickson Commercial Group Retail had its best quarter of the year in the fourth quarter of 2020 with $84.05 million in total sales volume and 19 total sales. For comparison, the total volume in Q3 was $10.3 million and the total volume in Q2 was $9.6 million. The average price per square foot in the fourth quarter was the lowest average this year at … [Read more...] about Commercial RE Report
Business IndicatorsApril 2021
The “second” estimate of U.S. real gross domestic product (GDP) for the fourth quarter of 2020 climbed 4.1 percent at an annual rate. Overall, the increase in real GDP benefitted from robust recovery in consumer spending and business investment, while net exports and government spending contributed negatively to growth. U.S. nonfarm employment posted a stronger-than-expected … [Read more...] about Business Indicators