Northern Nevada By Colliers | Reno The third quarter of 2019 was one of the strongest quarters for office space in recent history. A healthy 130,000 square feet of net absorption was recorded, with many large leases in the Downtown and Meadowood Submarkets. Vacancy decreased to 10.5 percent. Current office stats were strong enough to support new construction, which … [Read more...] about Commercial RE Report
Monthly Editorial Departments
Business IndicatorsDecember 2019
The “advance” estimate of U.S. real gross domestic product (GDP) for the third quarter of 2019 increased by 1.9 percent at an annualized rate. Residential investment, which experienced six consecutive quarters of losses, finally rebounded and also contributed positively to the real GDP growth. U.S. nonfarm employment gained 128,000 jobs in October with large losses in the … [Read more...] about Business Indicators
Around the StateNovember 2019
Fall Economic Forum Shows Positive Growth According to a “Regional Intelligence Report” by Dr. Christopher Thornberg of Beacon Economics, Nevada’s population growth has significantly outpaced the nation. Thornberg’s findings were presented at Bank of Nevada’s recent Fall Economic Forum. The report noted that the Southern Nevada economy has continued its expansion through … [Read more...] about Around the State
No, the Robots are Not Going to Take all Our Jobs
The robots are coming—and according to some experts, they’re here to take our jobs. Artificial intelligence and automation have made our world an increasingly futuristic wonder to behold. However, some “experts” still apparently worry such a future is a dystopian one—where robots, AI and automation will slowly phase out Americans workers, costing tens of millions of jobs in the … [Read more...] about No, the Robots are Not Going to Take all Our Jobs
Commercial RE ReportIndustrial Summary: Third Quarter 2019
Northern Nevada By CBRE Reno Industrial market fundamentals remained solid during Q3 2019 as the vacancy rate remained under 6 percent for the 15th consecutive quarter. Tight market conditions have fueled speculative development in 2019 as construction activity reached its highest level since 2015, with 4.0 million sq. ft. under construction. Most of the current projects … [Read more...] about Commercial RE Report
Business IndicatorsNovember 2019
The “third” estimate of U.S. real gross domestic product (GDP) for the second quarter of 2019 increased by 2 percent at an annualized rate, unchanged from the “second” estimate. Overall, the slower real GDP growth in the second quarter compared to the first quarter mainly reflected weaker business investment (including inventory investment) and net exports, while strong … [Read more...] about Business Indicators
Big Government Can’t Be Outrun
Nevada’s political demographics are changing, and the resulting “blue wave” has started to lead many conservatives, libertarians and free market advocates to begin entertaining the idea of fleeing the state. ‘Get out before Nevada becomes California,’ seems to be the general mentality. I’s a tempting notion. After all, in recent years there’s been something of an exodus of … [Read more...] about Big Government Can’t Be Outrun
Around the StateOctober 2019
Opportunity Village Adds Inclusive Living Community Betty’s Village, a residential community for individuals with and without disabilities who want to live and grow in an integrated neighborhood broke ground last month at Opportunity Village’s Ralph and Betty Englestad Campus. The community will include smart living technology and integrated design on a 6.7 acre lot. Betty’s … [Read more...] about Around the State
Commercial RE ReportRetail Summary: Second Quarter 2019
Northern Nevada By Dickson Commercial Group After a slow start to the year, retail sales had a much-needed pickup in the second quarter of 2019. Q2 was the best quarter in the past year with respect to volume and had almost $55 million in transactions with an average price per square foot of $261. One of the most notable sale transactions was Cabela’s, which sold for … [Read more...] about Commercial RE Report
Business IndicatorsOctober 2019
The “second” estimate of U.S. real gross domestic product (GDP) for the second quarter of 2019 grew by 2.0 percent at an annualized rate, down by 0.1 percentage point compared to the “advance” estimate of 2.1 percent. The overall economic picture of economic growth remained the same. Stronger consumer spending, which showed its fastest growth in nearly four years by rising by … [Read more...] about Business Indicators
Around the StateSeptember 2019
Las Vegas Ballpark Wins Ballpark of the Year Award In its inaugural year, the Las Vegas Ballpark in Summerlin won the 20th annual Ballpark of the Year award from BaseballParks.com. The award is presented to new or remodeled baseball stadiums and is based on site selection, exterior appearance, architectural design and fan amenities. Winners are chosen by a panel utilized but … [Read more...] about Around the State
Educational Choice Would Also Improve the Lives of Teachers
As the school year begins, we’re once again faced with all-too-familiar headlines about Nevada’s struggle to attract and retain quality educators and the general disarray of the state’s two largest school districts. Even a casual observer can tell there’s plenty of reasons for teacher morale to be depressingly low in today’s public education system — something that is directly … [Read more...] about Educational Choice Would Also Improve the Lives of Teachers
Commercial RE ReportOffice Summary Second Quarter 2019
Northern Nevada By Colliers | Reno The second quarter of 2019 turned the tide of the last few quarters of negative net absorption in northern Nevada. The region registered a positive 70,949 square feet of positive absorption which pushed vacancy down to 11.7 percent this quarter, down from 12.3 percent last quarter. Despite positive absorption and a decrease in vacancy, … [Read more...] about Commercial RE Report
Business IndicatorsSeptember 2019
The “advance” estimate of U.S. real gross domestic product (GDP) for the second quarter of 2019 increased modestly, up by 2.1 percent at an annualized rate. The real GDP increase largely reflected strong consumer spending, rising by 4.3 percent, its fastest growth in nearly two years. Government spending also grew at its fastest pace in a decade and contributed positively to … [Read more...] about Business Indicators
Around the StateAugust 2019
Mineral County Joins Nevada's Sierra Region The economic development service area of the Northern Nevada Development Authority (NNDA) has now been expanded to include Mineral County. The addition grows Nevada’s Sierra region to a total land mass of 7,009 square miles and a population of over 165,450. In addition to Mineral County, the region includes Carson City and Douglas, … [Read more...] about Around the State