Northern Nevada By Gary Tremaine & Amanda Brierton, Dickson Commercial Although 2021 ended with a large increase in volume (almost $200 million) investment activity in the first quarter dropped back down to $45 million in sales transactions to start the year. Which is more consistent with previous quarters going back 24 months. Redevelopment projects were a theme … [Read more...] about Commercial RE Report
Monthly Editorial Departments
Business IndicatorsJuly 2022
The “second” estimate of U.S. real gross domestic product (GDP) for the first quarter of 2022 shrank by 1.5 percent at an annual rate, revised down by 0.1 percent from the advance estimate. The revision reflected lower-than-expected private inventory and residential investments, which were partly offset by an upward revision in consumer spending. U.S. nonfarm employment … [Read more...] about Business Indicators
Around the StateJune 2022
Roseman University Awarded NACDS Foundation Scholarship Roseman University of Health Sciences College of Pharmacy has been awarded a scholarship through the Annual National Association of Chain Drug Stores (NACDS) Foundation Scholarship Program. The scholarship was one of six innovation-focused awards in the amount of $20,000. It will be used to develop a disease state … [Read more...] about Around the State
Nevada “No Party”Majority Voters and What they Want
Republicans are slowly closing in on Democrats in Nevada voter registration, but the real news is that neither is the largest party. That honor belongs to the rapidly growing numbers of folks who register with “No Party” (NPs), or as Independents, decline to state, etc. Recent in-depth survey research by a private organization has revealed the politics of these voters. (Full … [Read more...] about Nevada “No Party”
Commercial RE ReportOffice Summary: First Quarter 2022
Northern Nevada By Jordan Lehman, Colliers | RENO Reno’s office market began 2022 with incredible momentum. The region saw robust investment activity, sizeable rent growth and shrinking vacancy. Office sales volume of $76.1 million was the highest first-quarter total on record. Pricing continued to climb this quarter as average sales price grew 65.9 percent year-over-year … [Read more...] about Commercial RE Report
Business IndicatorsJune 2022
The “advance” estimate of U.S. real gross domestic product (GDP) for the first quarter of 2022 unexpectedly fell by 1.4 percent at an annual rate, the first decline since the COVID pandemic recession. The decline largely reflected a decrease in government spending and a huge trade deficit caused by a drop in exports and a surge in imports. U.S. nonfarm employment posted a … [Read more...] about Business Indicators
Problems for NevadaElectric Vehicles and Renewable Energy
Recently, Governor Steve Sisolak announced Nevada is joining some other states to promote electric big-rig trucks, large pickups, vans, delivery trucks and school and transit buses. This is in addition to prior commitments to electric autos and solar- and wind-powered electric energy. This initiative is based on claims electric vehicles (EVs) and renewable electric … [Read more...] about Problems for Nevada
Commercial RE Report: Industrial SummaryFirst Quarter 2022
Northern Nevada By Angel Orozco & Dan Buhrmann, CBRE The Reno industrial market turned in healthy market fundamentals in Q1 2022, posting the tenth consecutive quarter of positive net absorption. Vacancy decreased quarter-over-quarter, closing Q1 2022 at 0.7 percent, the lowest on record. Availability rates followed suit, dropping to 1.7 percent. Average asking … [Read more...] about Commercial RE Report: Industrial Summary
Business IndicatorsMay 2022
The “third” estimate of U.S. real gross domestic product (GDP) for the fourth quarter of 2021 expanded by 6.9 percent at an annual rate, which was revised down by 0.1 percent from the previous estimate. The revision mainly reflected downward revisions to consumer consumption and exports, which were partly offset by a larger private inventory investment than previously reported. … [Read more...] about Business Indicators
Around the StateApril 2022
Saint Mary’s Adds Rehab Unit Saint Mary’s has announced the addition of an inpatient acute rehabilitation unit (ARU). The unit is expected to open in 2023 and will be located in the existing hospital. The ARU will add 14 beds and include private rooms and recreational and therapy spaces. Nevada College Receives “First-Gen Forward” Designation The Center for … [Read more...] about Around the State
COVID & Public PolicyPart Two of Two
Last month’s Free Market Watch commentary pointed out problems with Federal, Nevada and many other states’ policy responses to the COVID pandemic. The worst of it was their responses failed to observe the first principle of public policy. Namely, decisions and actions should serve the broad public interest, balancing all relevant factors and not considering only one or a … [Read more...] about COVID & Public Policy
Commercial RE Report: Retail SummaryFourth Quarter 2021
Northern Nevada By Gary Tremaine & Amanda Brierton | Dickson Commercial Retail had its strongest quarter of the year for sales with just over $188 million and 25 total sales in Q4. There were multiple shopping centers and larger multi-tenant sales that took place before year end. In west Reno, CAI Investments purchased the Cabela’s in Verdi for $39 million ($305.27 … [Read more...] about Commercial RE Report: Retail Summary
Business IndicatorsApril 2022
The “second” estimate of U.S. real gross domestic product (GDP) for the fourth quarter of 2021 grew by 7.0 percent at an annual rate, which was revised up by 0.1 percent from the previous estimate. The revision primarily involved upward revisions in both non-residential and residential fixed investment and state and local government spending, which were partly offset by reduced … [Read more...] about Business Indicators
Around the StateMarch 2022
Reno Tahoe’s Room Tax Collections set Record in 2021 According to Visit Reno Tahoe, which is a part of the Reno-Sparks Convention and Visitors Authority (RSCVA), last year’s total transient lodging and room tax came in over $420 million and was the most taxable room revenue ever recorded for a calendar year. In addition, three of the top four all-time revenue-producing … [Read more...] about Around the State
Covid-19 and Public PolicyPart 1 of 2
Governor Steve Sisolak says “the science has changed” regarding Covid-19 and he can now lift mask, vaccination and other mandates. The fundamental problem with the policy response of Nevada, many states and our federal government, especially in regard to public health, is their failure to observe the first principle of public policy. Namely, decisions and actions should serve … [Read more...] about Covid-19 and Public Policy