Northern Nevada By Angel Orozco, CBRE The Reno Industrial market finished Q1 2023 with strong market fundamentals, posting the 14th consecutive quarter of positive net absorption. Reno continues to be one of the most active development markets in the country due favorable tax haven and proximity to all Californian markets. Market-wide vacancy and availability rose … [Read more...] about Commercial RE Report
Business IndicatorsMay 2023
The third estimate of U.S. real gross domestic product (GDP) for 2022 Q4 expanded by 2.6 percent annualized rate, falling by 0.1 and 0.3 percent from the second and advanced estimates, respectively. Overall, the real GDP increase reflected increases in business inventories, consumer spending on services, and government spending, which were partly offset by decreases in business … [Read more...] about Business Indicators
Last WordWhat do you enjoy most about being a Nevadan?
Bryce Clutts President & CEOMetcalf Builders “What I enjoy the most about Nevada is the fact that it is the most mountainous state in the U.S. and offers the best variety of outdoor activities in the country.” Dr. Summer Holloway Owner / DoctorFloss Dental Boutique “Nevada is the wild west of opportunity, giving freedom to innovate and access to … [Read more...] about Last Word
Industry FocusTechnology/Communications
The recent pandemic has had a significant impact on nearly every sector of business. And as many businesses transitioned to remote work during the height of quarantine, the technology and communications industry took center stage. From helping clients maintain their business operations remotely, to navigating their own difficulties of remote work and hiring and … [Read more...] about Industry Focus
Michael Nigro
President Nigro Construction Type of Business: Construction/DevelopmentBased In: Las Vegas, NVHails From: Las Vegas, NV Years Org. has been in Nevada: 44Years with Organization in Nevada: 37Employees in Nevada: 50 How did you get into your profession? Back in high school my father had a small construction company and, as punishment, he made me clean up … [Read more...] about Michael Nigro
Around the StateApril 2023
GOED Approves Tesla Abatement The Nevada Governor’s Office of Economic Development (GOED) approved a $330,250,366 tax abatement for Tesla. The company’s first abatement was approved in 2014 and, as a result, Tesla will begin paying an annual minimum of $53 million in real and personal property taxes and modified business taxes beginning July of next year. Since that … [Read more...] about Around the State
Commercial RE ReportRetail Summary Fourth Quarter 2022
Northern Nevada By Gary Tremaine, Dickson Commercial Group The fourth quarter sales volume for Q4 2022 saw a slight increase in comparison to the prior quarter, with an increase of nearly $8 million, but the year ended up with much lower transaction volume in 2022. There was a decrease in both volume and number of sales in 2022, but a slight increase in the average price … [Read more...] about Commercial RE Report
Business IndicatorsApril 2023
The second estimate of U.S. real gross domestic product (GDP) for 2022 Q4 grew by an annualized 2.7 percent, falling by 0.2 percent from the advance estimate released at the end of January. The 2.7-percent real GDP increase reflected restocked inventories and robust consumer spending on services, which were partly offset by decreases in business investment and consumer spending … [Read more...] about Business Indicators
Last WordWhat advice would you give your high school self?
Michelle Joy President & CEOCarson Tahoe Health “Don’t sweat the small stuff – everything happens for a reason. It is going to be okay if you don’t become that doctor or lawyer your parents are expecting. Follow your own path.” Beau Keenan President & OwnerDickson Realty "Set big goals but don't let your happiness be predicated purely on accomplishing … [Read more...] about Last Word
Industry FocusBuilders & Developers
Commercial real estate in Nevada has seen its share of challenges and continues to face an uncertain market. Facing common issues of labor shortages and supply chain constraints, builders and developers are navigating a shifting market, concerns over capital and struggling to meet deadlines due to red tape. Commercial real estate executives recently met at a roundtable … [Read more...] about Industry Focus
Trent Anderson
President Western Region Universal Engineering Sciences Type of Business: Architecture, Engineering & ConstructionBased In: Las Vegas, NVHails From: Spanaway, WA Years Org. has been in Nevada: 21Years with Organization in Nevada: 1Employees in Nevada: 250 How did you get into your profession? I found my way into the AEC industry through a mutual contact. He … [Read more...] about Trent Anderson
Around the StateMarch 2023
Six States Agree to Colorado River Cuts Nevada, along with five other states within the Colorado River Compact have agreed to a proposed series of Colorado River cuts. The agreement was sent in a signed a letter to the U.S. Bureau of Reclamation in an effort to curb regional water usage ahead of the federal government’s review. California was noticeably absent from the … [Read more...] about Around the State
Commercial RE ReportOffice Summary Fourth Quarter 2022
Northern Nevada By Jordan Lehman, Colliers | Reno Reno’s office market saw continued positive net absorption, decreased investment sales and an uptick in sublease availability in the fourth quarter of 2022. Fourth quarter net absorption of nearly 32,000 square feet pushed annual net absorption to almost 129,000 square feet. Though the region has tallied six consecutive … [Read more...] about Commercial RE Report
Business IndicatorsMarch 2023
The advance estimate of U.S. real gross domestic product (GDP) for 2022Q4 expanded robustly by an annualized 2.9 percent, which caused 2022 real GDP to increase by 2.1 percent. The real GDP increase largely reflected restocked inventories and increased consumer spending, which the fall in business investment partly offset. Although consumer spending in 2022Q4 experienced a … [Read more...] about Business Indicators
Last WordWho has made the biggest impact on your life thus far?
Zachary Rice CEOMultipure “Without a doubt my wife, Jennifer. She is a true partner, involved in all aspects of my life including running a legacy company together and raising a family. And we still enjoy each other’s company.” Mike Howard Vice PresidentSystem Integration “My wife is supportive and inspires me daily. As a teacher she makes the world a better … [Read more...] about Last Word