Northern Nevada By Jordan Lehamn, Colliers | Reno Northern Nevada’s office market fundamentals displayed their strength in 2021 with declining vacancy rates, steady rent growth, and robust demand. Though many U.S. office markets experienced occupancy losses in 2021, the Reno/Sparks region saw a flurry of leasing activity as annual net absorption remained positive … [Read more...] about Commercial RE Report
Monthly Editorial Departments
Business IndicatorsMarch 2022
The “advance” estimate of U.S. real gross domestic product (GDP) for the fourth quarter of 2021 grew at a better-than-expected pace, up by 6.9 percent at an annual rate. As a result, real GDP increased by 5.7 percent in 2021, the strongest growth since 1984. The largerthan-expected growth in the fourth quarter was mainly boosted by a replenishment of inventories. Exports also … [Read more...] about Business Indicators
Around the StateFebruary 2022
UNR and SNU Acquisition Proposal Approved The University of Nevada, Reno (UNR) has been approved to acquire Sierra Nevada University (SNU) by the executive committee of the Northwest Commission on Colleges and Universities. The committee noted that the transaction, “will allow for continued long-term growth and financial stability,” for Nevada. The acquisition must now be … [Read more...] about Around the State
Economic OutlookNobody Knows Nuthin’
Before COVID and lockdowns, the economy settled into a normalcy after the Great Recession of 2007-09. It was a unique time with record low interest rates and unprecedented Federal Reserve money printing. But monthly indicators moved along trend lines without great drama or many discontinuities, and we seemed to be in a new steady state of normalcy. So, in the 2018 Nevada … [Read more...] about Economic Outlook
Commercial RE Report: Industrial SummaryQ4 2021
Northern Nevada By Angel Orozco and Garrett Shutt, CBRE The Reno Industrial market has experienced exponential growth throughout 2021. The region has consistently been a target for large corporate manufacturing and distribution sites, but the pandemic has sky rocketed demand with no signs of stopping. The lack of Class A and B product in the market, led to a rise in … [Read more...] about Commercial RE Report: Industrial Summary
Business IndicatorsFebruary 2022
The “third” estimate of U.S. real gross domestic product (GDP) for the third quarter of 2021 equaled 2.3 percent at an annual rate, which was revised up by 0.2 percent from the prior estimate. The revision largely reflected upward adjustments in consumer spending and private inventory investment. Overall, the lower growth rate in the third quarter was primarily caused by a … [Read more...] about Business Indicators
Around the StateJanuary 2022
Superintendent Reaches Agreement with School Board In November, the Clark County School Board voted to reverse its decision to rescind Superintendent Jesus Jara’s contract with the district. Last month, the board and Jara reached an agreement for him to continue as superintendent with a statement that they, “will continue striving for a more collaborative, respectful and … [Read more...] about Around the State
Let’s Define BetterThe Damage the Build Back Better Bill Would Do
Key arguments supporting President Joe Biden’s Build Back Better (BBB) tax-and-spend bill have been thoroughly debunked, including some in this space last month. So, let’s examine the major damage it would do to see why Nevada’s congressional representatives should oppose it. Its problems start with misrepresentations by proponents of the facts. Their most outrageous claim … [Read more...] about Let’s Define Better
Commercial RE Report Retail SummaryThird Quarter 2021
Northern Nevada By Gary Tremaine & Amanda Brierton, Dickson Commercial Retail had another strong quarter with Q3 total sales being $28.32 million and 10 total sales. The average price per square foot in the third quarter was $200. The first neighborhood center traded hands in the third quarter of 2021. The market has limited inventory and single tenant net leased … [Read more...] about Commercial RE Report Retail Summary
Business IndicatorsJanuary 2022
The “second” estimate of U.S. real gross domestic product (GDP) for the third quarter of 2021 grew 2.1 percent at an annual rate, which was revised up by 0.1 percent from the previous estimate. The upward revision primarily reflected largerthan-expected consumer spending and private inventory investment. Overall, the disappointing growth in the third quarter largely reflected a … [Read more...] about Business Indicators
Economic MobilityKeeping the American Dream Alive
With Nevada’s Congressional delegates facing votes on President Joe Biden’s proposed income tax increases, questions of wealth and income distribution, tax fairness, economic growth and economic mobility have become central in public debate. A study of literature and empirical studies on economic mobility show there is still substantial economic mobility from generation to … [Read more...] about Economic Mobility
Around the StateDecember 2021
Clinical Affiliation Between Renown Health and UNR Med to Address Provider Gap A new clinical affiliation between Renown Health and the University of Nevada, Reno School of Medicine (UNR Med) has been established to address the provider gap in Nevada. The state ranks 45th for active physicians per 100,000 population. A large piece of the affiliation is a $350,000 scholarship … [Read more...] about Around the State
Commercial RE Report Office Summary:Third Quarter 2021
Northern Nevada By Colliers Reno Reno’s office market saw increased leasing activity in the third quarter of 2021 with nearly 40,000 square feet of positive net absorption, the highest the market has experienced in five quarters. Recovering demand for office space has driven year-to-date net absorption to 58,565 square feet. Strong tenant demand this quarter pushed market … [Read more...] about Commercial RE Report Office Summary:
Business IndicatorsDecember 2021
The “advance” estimate of U.S. real gross domestic product (GDP) for the third quarter of 2021 only increased 2 percent at an annual rate, much lower than expectations. The weaker-than-expected growth in the third quarter largely reflected a deceleration in consumer spending. U.S. nonfarm employment in October, however, experienced a rebound after two consecutive months of … [Read more...] about Business Indicators
Progressivism, the Administrative State and the Public Interest
Ron Knecht is Senior Policy Fellow at Nevada Policy Research Institute As Ben Franklin left the Constitutional Convention on September 17, 1787, he was asked what kind of government we would have. “A Republic,” he replied, “if you can keep it.” The Founders addressed that and other challenges by establishing checks and balances among three branches of the federal … [Read more...] about Progressivism, the Administrative State and the Public Interest