Northern Nevada By Angel Orozco, CBRE | Reno The Reno Industrial market finished the quarter with strong market fundamentals, posting the twelfth consecutive quarter of positive net absorption. Record low vacancy and availability rates have driven tenants to prelease under construction and planned projects. Average asking lease rates increased 50 percent year-over-year, … [Read more...] about Commercial RE Report
Monthly Editorial Departments
Business IndicatorsNovember 2022
The third estimate of U.S. real gross domestic product (GDP) for the second quarter of 2022 remained down by 0.6 percent at an annual rate, unchanged from the second estimate. Overall, the decrease in real GDP in the second quarter largely reflected reduced private inventory investment and residential fixed investment, which was partly offset by increased consumer spending on … [Read more...] about Business Indicators
Around the StateOctober 2022
Nevada Small Business Development Center Releases Survey of Small Business Challenges The Nevada Small Business Development Center (SBDC) released the 2022 Small Businesses Challenges survey. The survey showed that, of the 225 respondents looking to start a small business or scalable startup, 58 percent claimed that securing financing is one of the top three challenges they … [Read more...] about Around the State
Commercial RE ReportRetail Summary: Second Quarter 2022
Northern Nevada By Gary Tremaine & Amanda Brierton, Dickson Commercial Although the second quarter saw a considerable decrease overall in commercial sales, retail numbers increased in volume by almost $55 million. There were 20 total sale transactions in Q2 2022, totaling $97,968,389 in volume, the second highest quarter in the last few years. The Iron Horse shopping … [Read more...] about Commercial RE Report
Business IndicatorsOctober 2022
The second estimate of U.S. real gross domestic product (GDP) for the second quarter of 2022 continued to shrink for the second straight quarter, down by 0.6 percent at an annual rate. This represents a 0.3 percentage point slower decline from the previous “advance” estimate, due to upward revisions to consumer spending and private inventories. Despite the revision, decreases … [Read more...] about Business Indicators
Free Market WatchNevada PERS: The Good, The Bad and The Ugly
Pension plans require employers and employees to contribute to investment accounts that pay employees an income when they retire. Defined benefit plans, used by the Nevada Public Employees’ Retirement System (PERS), promise retirement incomes determined by employee’s contributions and assumption about what investment returns will be. To the extent actual returns differ from the … [Read more...] about Free Market Watch
Around the StateSeptember 2022
CCSD Partners with Paper to Provide Academic Support The Clark County School District has announced a partnership with Paper to provide one-on-one instructional support to approximately 300,000 students in the district, at no charge. Paper is an online program that works with school districts to provide tutors in over 200 subject areas in English, Spanish, French and … [Read more...] about Around the State
Commercial RE ReportOffice Summary: Second Quarter 2022
Northern Nevada By Jordan Lehman, Colliers | Reno Northern Nevada’s office market experienced healthy leasing activity, cooling sales volume, and an increase in sublease space in the second quarter of 2022. Continued tenant demand pushed net absorption to nearly 17,000 square feet, the fourth consecutive quarter of positive demand. While sales activity cooled off this … [Read more...] about Commercial RE Report
Business IndicatorsSeptember 2022
The “advance” estimate of U.S. real gross domestic product (GDP) for the second quarter of 2022 continued to shrink for the second straight quarter, down by 0.9 percent at an annual rate. The decline largely reflected a drop in private inventory investment which was led by a slowdown in retail trade. Consumer spending, which accounts for roughly 70 percent of GDP, continued to … [Read more...] about Business Indicators
Around the StateAugust 2022
Community Development Block Grant Funds Awarded to Nevada Cities and Counties Nearly $4 million in Community Development Block Grant (CDBG) funds have been awarded to 17 projects in rural Nevada. The projects are spread over five counties and the Cities of Ely, Fallon, Fernley, Wells and Carson. The awards and projects range from $35,000 for the Ron Woods-Family Resiliency … [Read more...] about Around the State
Supreme Court Begins to Rein in Administrative State
At the end of its 2021-22 session, the U.S. Supreme Court issued major decisions greatly restoring Constitutional jurisprudence and the rule of law and getting the court out of politics. One of the most important was West Virginia vs. Environmental Protection Agency, which reversed 130 years of destructive metastasis of the federal administrative state developed by … [Read more...] about Supreme Court Begins to Rein in Administrative State
Commercial RE ReportIndustrial Summary: First Quarter 2022
Northern Nevada By Angel Orozco & Dan Buhrmann, CBRE The Reno industrial market finished the quarter with strong market fundamentals, posting the eleventh consecutive quarter of positive net absorption. Record low vacancy and availability rates, along with the rise of pre-leasing activity continues to entice both local and national investors. Average asking lease … [Read more...] about Commercial RE Report
Business IndicatorsAugust 2022
The “third” estimate of U.S. real gross domestic product (GDP) for the first quarter of 2022 shrank by 1.6 percent at an annual rate, revised down by 0.1 percent from the second estimate. The revision reflected a downward adjustment in consumer spending, partly offset by an upward adjustment in private inventory investment. U.S. nonfarm employment experienced a … [Read more...] about Business Indicators
Around the StateJuly 2022
Childhood Community Health Worker Program Started in Nevada Nevada Strong Start Child Care Services Center has launched the Nevada Early Childhood Community Health Workers (CHWs) program to serve childcare providers and families. The program makes Nevada the first state in the nation to offer a service bridging gaps in the early childhood community. CHW will serve as … [Read more...] about Around the State
Nevada Firearms Securities DivestitureAn Empty Gesture
State Treasurer Zach Conine, a friend and fellow Nevada Business Magazine columnist, announced Nevada will divest $89 million in securities of companies that profit from the manufacture or sale of “assault-style” weapons. He did not provide a list of such companies but estimated the total value of Nevada’s gun-related holdings at $89 million on June 2, before sharp declines in … [Read more...] about Nevada Firearms Securities Divestiture