Even as the Las Vegas economy recovered from the Great Recession, Ed Vance and his architecture firm survived almost solely on the business from the Lucky Dragon. For two years during the project, Vance said projects were relatively hard to come by as developers weren’t quick to pull the trigger. Vance is adamant that all changed with the 2016 election. Since the election, … [Read more...] about Strong Design
Mega ProjectsNevada’s Changing Skylines
Looming prominently across I-15 from the Strip, the future stadium of the National Football League’s (NFL) Raiders is well on its way to hosting its first game. Las Vegas Stadium is among several mega-projects currently under construction in Nevada and making their way into the Valley’s economic landscape. Other major projects include the expansion of the Las Vegas … [Read more...] about Mega Projects
The Industrial RevolutionNevada’s Commercial Real Estate Industrial Market
The industrial real estate market is humming along very well, but still experiencing a hangover from the Great Recession. Multiple Nevada real estate executives noted the strong performance of industrial real estate in both Northern and Southern Nevada, led by low vacancy numbers, but it’s hard to keep up with the current demand. There’s a lack of speculative development, … [Read more...] about The Industrial Revolution
How About Now?Exit Planning
Business owners have an exit strategy issue. There’s a consensus among exit planning professionals that their clients often don’t think about their plans until it’s too late. “It’s one of those things, like an estate plan, that everyone knows they should do but it’s easy to put off,” said Shawn Pearson, an attorney at Woodburn and Wedge in Reno. “It’s like exercising and … [Read more...] about How About Now?
Mobile IndustryTransportation in Nevada
The future of Nevada’s business success could hinge on transportation infrastructure. According to multiple Nevada transportation officials, success with Nevada’s transportation likewise relies partially on the support of the Nevada business and real estate communities. “Communication with developers is critical,” said Rudy Malfabon, Nevada Department of Transportation … [Read more...] about Mobile Industry
Building Medical: Keeping Pace with Healthcare Growth
With Nevada’s two major metropolitan areas continuing to grow, the healthcare industry is trying to keep pace. Nevada’s health industry regularly gets low marks in rankings, including an “F” for accessibility. As Las Vegas and Reno continue to evolve, both cities are experiencing the medical industry’s attempt to catch up. That attempt is reflected in the real estate … [Read more...] about Building Medical: Keeping Pace with Healthcare Growth
The Drive: Automobiles in Nevada
Automobile sales in Nevada are following the national trend of keeping steady after years of growth. Following seven years of steady, and at times rapid, increases in sales, volume is beginning to flatline and the future is uncertain, according to multiple car dealership executives in Nevada. In the previous eight years, new car sales had grown by an average of 5 percent … [Read more...] about The Drive: Automobiles in Nevada
Something for Everyone: Tourism in Nevada
Nevada is still finding its place in the modern tourism world, but that isn’t hurting tourism numbers. Fiscal year 2018 was a turbulent year for tourism, in Las Vegas especially, but the year still set records and showed no signs of slowing down. Statewide, shifting consumer interests and demands and diversifying economies are helping drive continued strong tourism … [Read more...] about Something for Everyone: Tourism in Nevada
Ole! The Business of Soccer in Nevada
Llamas are a quintessential piece of the Las Vegas Lights Football Club (LVFC). However odd that might sound, two live llamas, Dolly and Dotty, are a staple at LVFC games and events and embody the spirit the management wants to bring to Las Vegas with soccer. Likewise, a smiley face waits on the inside of their jerseys for when a player scores and flips it over his head to … [Read more...] about Ole! The Business of Soccer in Nevada
Nevada Brokers: The Ins and Outs of Commercial Real Estate
Both the Las Vegas and Reno commercial real estate markets are well balanced and healthy for the foreseeable future, but there may be trouble past the horizon. Real estate professionals in both cities echoed similar statements in regard to the health of the markets, but Providence Commercial Managing Partner Mike Montandon said a land shortage could loom in Las Vegas. … [Read more...] about Nevada Brokers: The Ins and Outs of Commercial Real Estate
The Insured State: Health Insurance in Nevada
Businesses can expect health insurance costs to continue to rise in the short term, but stabilization might be in sight. Nevada health insurance executives suggest a number of factors could indicate relief for businesses when it comes to health insurance costs in the long-term future. Following years of negative reaction to the Affordable Care Act (ACA), signed into law in … [Read more...] about The Insured State: Health Insurance in Nevada
Game On: The Business of Hockey in Nevada
Bill Foley manages to get home from a Vegas Golden Knights game at 11:30 p.m., but his head doesn’t hit the pillow until at least 1:30 a.m. “The adrenaline flows,” said Foley, the majority owner of National Hockey League’s newest franchise. “I’ve been in a lot of different businesses in my career and this has been the most enjoyable, entertaining and fun time that I’ve … [Read more...] about Game On: The Business of Hockey in Nevada
Working for Workplaces: The Office Market in Nevada
The Nevada office real estate market is set to be the most active it’s been since before the Great Recession, but one major factor could stymie the growth. Multiple real estate professionals in Nevada said 2017 was a great year for the office market and 2018 is looking even better, but the consistent absorption has led to a lack of available inventory. Unless more office … [Read more...] about Working for Workplaces: The Office Market in Nevada
Weighing The Options: Owning Versus Leasing Commercial Real Estate
Weighing the benefits of leasing or owning real estate is important for any business, but Nevada real estate professionals said there’s no definitive answer to which option is best. Both leasing and owning real estate offers businesses advantages and disadvantages and the decision of which route to take is up to the leadership at each company, said Jeff Jenkins, executive … [Read more...] about Weighing The Options: Owning Versus Leasing Commercial Real Estate