Northern Nevada By Colliers | Reno Reno/Sparks saw office vacancy increase in the third quarter of 2020 to 10.8 percent as net absorption turned negative. There were no new completions of office space during the quarter. The average asking rate for office space increased slightly, to $1.84 per square foot (PSF) on a full-service gross (FSG) basis from $1.83 in the second … [Read more...] about Commercial RE Report
Monthly Editorial Departments
Business IndicatorsDecember 2020
The “advance” estimate of U.S. real gross domestic product (GDP) for the third quarter of 2020 jumped by a best-ever 33.1 percent at an annual rate, after a worst-ever decline of 31.4 percent in the previous quarter. U.S. nonfarm employment experienced a stronger-than-expected gain, adding 638,000 jobs in October. Retail sales in September rose robustly by 5.4 percent from last … [Read more...] about Business Indicators
The Election Won’t Fix What’s Wrong with 2020
Mercifully, 2020 will soon be over. Given the way this year has been a non-stop exhibition of cultural, social and political crises, it’s tempting to think that maybe after the election things will begin to calm down. It’s a nice thought… but it’s one that is largely divorced from reality. The truth is, from the coronavirus to the social unrest we’ve seen in 2020, the … [Read more...] about The Election Won’t Fix What’s Wrong with 2020
Commercial RE ReportIndustrial Summary: Third Quarter 2020
Northern Nevada By CBRE Reno The northern Nevada industrial market has been resilient in the wake of the COVID-19 pandemic as market fundamentals remained strong in Q3 2020. After impressive net absorption totals in the second quarter, Q3 posted healthy figures with 855,106 square feet of positive net absorption, pushing the year-to-date net absorption total past 3 … [Read more...] about Commercial RE Report
Business IndicatorsNovember 2020
The “third” estimate of U.S. real gross domestic product (GDP) for the second quarter of 2020 plummeted 31.4 percent at an annual rate, slightly better than the second estimate of a 31.7 percent annual contraction. The small upward revision reflected a smaller decline in consumer spending, which was partly offset by larger-than-expected decrease in exports and nonresidential … [Read more...] about Business Indicators
Which ‘Emergency Orders’ Should We Just Start Ignoring?
At what point do government mandates become so absurd and arbitrary, that it is socially acceptable to start ignoring them outright? Well, if governors keep acting the way they have throughout the coronavirus crisis, we might soon find out. From the beginning, the response to the pandemic has been a dramatic demonstration of just how capricious and arrogant politicians can … [Read more...] about Which ‘Emergency Orders’ Should We Just Start Ignoring?
Around the StateOctober 2020
GOED Approves Tax Abatements for Companies The Nevada Governor’s Office of Economic Development (GOED) Board of Directors has approved abatements for Lithium Nevada Corp. and Google that are expected to result in $1.1 billion in investments, the creation of 163 permanent jobs and 5,300 construction jobs. Google was approved for a 2 percent sales tax abatement for 20 years, … [Read more...] about Around the State
Commercial RE ReportRetail Summary: Second Quarter 2020
Northern Nevada By Dickson Commercial Group At the start of 2020, employment growth in Reno was among the highest in the nation. Due to COVID-19, the shutdown of many non-essential retailers has caused an impact on this growth. The Nevada Department of Employment, Training and Rehabilitation (DETR) says the state’s overall unemployment rate was at the highest in the … [Read more...] about Commercial RE Report
Business IndicatorsOctober 2020
The “second” estimate of U.S. real gross domestic product (GDP) for the second quarter of 2020 plunged by 31.7 percent at an annual rate, slightly better than the advance estimate of a 32.9 percent annual contraction. The upward revision reflected smaller declines in private inventory investment and personal consumption expenditure than previously thought. Overall, the … [Read more...] about Business Indicators
The New Intolerant America
Americans of all ideological stripes are growing more intolerant of people who don’t share their political outlook. According to a Cato Institute survey released this summer, fifty percent of “strong liberals” support the idea of firing business executives who donate to President Donald Trump’s reelection campaign—an unsurprising (though still appalling) statistic, given the … [Read more...] about The New Intolerant America
Commercial RE ReportOffice Summary: Second Quarter 2020
Northern Nevada By Colliers Reno Reno/Sparks saw office vacancy decrease in the second quarter of 2020, perhaps defying the expectations of some observers. Office vacancy decreased to 9.4 percent in the second quarter, from 10 percent in the first quarter of 2020. The average asking rate for office space decreased to $1.83 per square foot on a full service gross … [Read more...] about Commercial RE Report
Business IndicatorsSeptember 2020
The “advance” estimate of U.S. real gross domestic product (GDP) for the second quarter of 2020 plummeted by 32.9 percent at an annual rate. The substantial contraction in real GDP reflected “stay-at-home” orders to contain COVID-19. Specifically, decreases in consumer spending, nonresidential and residential fixed investment, state and local government spending and private … [Read more...] about Business Indicators
The Nevada Legislature Also Has a ProblemSeparation of Powers, Part II
The governor’s willingness to embrace near-dictatorial powers during a state of emergency isn’t the only instance where a blatant disregard for separation-of-powers doctrine is doing damage to Nevada’s democratic system of government. As it turns out, the legislature has also long demonstrated flagrant contempt for the concept of three co-equal branches of government—a core … [Read more...] about The Nevada Legislature Also Has a Problem
Around the StateAugust 2020
WaterStart Program Addresses Technology Challenges After an initial $4.3 million investment, Nevada’s WaterStart program, from the Desert Research Institute (DRI) has already addressed $30 million in water technology challenges in the state. The program was funded through the Knowledge Fund, which is administered by the Governor’s Office of Economic Development (GOED). … [Read more...] about Around the State
Commercial RE ReportIndustrial Summary: Second Quarter 2020
Northern Nevada By CBRE Reno As the COVID-19 pandemic unfolded in Q2 2020, it delivered a widespread shock to the U.S economy. While it is too early to fully comprehend the long-term impact the pandemic will have, industrial real estate has emerged well positioned to weather the current economic climate. The Reno industrial market finished the quarter strong after an … [Read more...] about Commercial RE Report