BC Sale, Multi-Family Address 110 Ville Dr., 89005 Buyer OM Sun Property LLC Seller HPY Holdings, LLC Details 70 units; $45,000 per unit APN 186-04-501-003 Seller Rep Brett S. Beck of Virtus Commercial E Sale, Multi-Family Address 7055 Lake Mead Blvd., 89156 Buyer OpenPath Investment, LLC Seller Sundance Bay Details 304 units; $101,151 per unit APN … [Read more...] about Red Report: July 2018
Monthly Editorial Departments
Business Indicators: July 2018
The “second” estimate for U.S. real gross domestic product (GDP) for the first quarter of 2018 showed growth at an annual rate of 2.2 percent, down by 0.1 percentage point from the previous estimate of 2.3 percent. The downward revisions reflected smaller private inventory investment, residential fixed investment, and net exports, which were partly offset by a larger … [Read more...] about Business Indicators: July 2018
Around the State: June 2018
Investments for the State of Nevada Post Strong Returns According to the state treasurer, investment returns for the state’s general portfolio have quadrupled since 2015. In addition, the local government investment pool (LGIP) returns are up nearly 20 times as much as they were in fiscal year 2015. As of the end of March, the general portfolio returned nearly $24 million to … [Read more...] about Around the State: June 2018
The Teacher’s Union Civil War: Worker freedom Needed
The union infighting across Nevada and especially in Clark County shows a real need for policy changes that empower workers, not union bosses. Last month, the Clark County Education Association (CCEA) voted to separate from its parent union, the Nevada State Education Association (NSEA). The decision was made, according to CCEA, because the state union regularly fails to … [Read more...] about The Teacher’s Union Civil War: Worker freedom Needed
Office Summary: First Quarter 2018
Northern Nevada By Colliers Reno The Reno office market continues to be active and thriving. However, as new deals are finalized they are leaving offices vacant resulting in stagnant statistics. The first quarter of 2018 posted negative 13,792 square feet of net absorption. The Downtown submarket started the year off with 15,215 square feet of positive absorption and the … [Read more...] about Office Summary: First Quarter 2018
Red Report: June 2018
E Lease, Retail Address 6775 E. Lake Mead Blvd., Ste. B3-B5, 89156 Tenant Fitness Factory 1, LLC Landlord Urgent Care Nevada, LLC Details 4,995 SF; $658,916 for 8 years Sublessor Rep Michael Zobrist and Nelson Tressler of Newmark Knight Frank Lease, Industrial Address 2875 N Lamb Blvd., 89115 Tenant Global Logistics & Fulfillment, LLC Landlord Prologis, … [Read more...] about Red Report: June 2018
Business Indicators: June 2018
The “advance” estimate for U.S. real gross domestic product (GDP) for the first quarter of 2018 rose at an annual rate of 2.3 percent, a slower pace than the previous three consecutive quarters of about 3 percent. The first quarter real GDP growth, however, exceeded the first-quarter growth in recent years. The increase in real GDP largely reflected a moderate growth in … [Read more...] about Business Indicators: June 2018
Just Because It’s Bipartisan, Doesn’t Mean It’s a Good Idea
During the tumultuous presidential primaries in 2016, one candidate promised to impose huge tariffs on Chinese goods, “until they stop dumping steel into the United States,” thus restoring the American steel industry to its former glory. The candidate I’m thinking about was actually the self-described socialist senator from Vermont, Bernie Sanders — but it just as easily … [Read more...] about Just Because It’s Bipartisan, Doesn’t Mean It’s a Good Idea
Around the State: May 2018
Design Unveiled for Las Vegas Convention Center Expansion The Las Vegas Convention and Visitors Authority (LVCVA) has unveiled design drawings of the new look of the Convention Center once the expansion is complete. Geotechnical & Environmental Services has begun drilling for footing locations as part of the expansion phase which will cost $860 million and add 1.4 million … [Read more...] about Around the State: May 2018
Industrial Summary: First Quarter 2018
Northern Nevada By CBRE Reno The Northern Nevada industrial real estate market remains healthy with strong fundamentals. Net absorption for the first quarter of 2018 totaled 76,799 square feet. While this is less than in previous quarters, overall activity is robust and an increase in transaction volume is expected as the area moves into the second quarter, and throughout … [Read more...] about Industrial Summary: First Quarter 2018
Red Report: May 2018
E Sale, Retail Address 5105 E Sahara Ave., 89142 Buyer HSJC Investments Seller Niban Properties Details 24,610 SF; $3.75 million APN 161-09-110-107 Seller Rep Cathy Jones, CCIM, SIOR and Roy Fritz of Sun Commercial Real Estate Sale, Retail Address 5051 Stewart Ave., 89110 Buyer 5051 Stewart 1 LLC Seller LDR & Associates LTD Details 16,170 SF; $3,612,500 APN … [Read more...] about Red Report: May 2018
Business Indicators: May 2018
The “third” estimate for U.S. real gross domestic product (GDP) for the fourth quarter of 2017 increased at an annual rate of 2.9 percent, up by 0.4 percentage point from the previous estimate. U.S. nonfarm employment added a disappointing 103,000 jobs in March after the large increase of 326,000 jobs in the last month. The unemployment rate remained at 4.1 percent for the … [Read more...] about Business Indicators: May 2018
Encourage Businesses to Invest in Education: Expand Educational Choice
Democrat gubernatorial candidate Steve Sisolak unveiled his education platform last month and, despite his best efforts, he unintentionally made a strong case for expanding Nevada’s only funded educational-choice program: Opportunity Tax-Credit Scholarships. “People want to help” improve education, said Sisolak, according to the Las Vegas Review-Journal. “Businesses want to … [Read more...] about Encourage Businesses to Invest in Education: Expand Educational Choice
Around the State: April 2018
UNR School of Medicine Granted Full Accreditation through 2026 The Liaison Committee on Medical Education (LCME) has granted the University of Nevada, Reno School of Medicine a renewed accreditation through the year 2026. The school spent a year preparing for the accreditation visit last October. Nevada’s Freight Plan Named Among Nation’s Best According to the American … [Read more...] about Around the State: April 2018
Red Report: April 2018
E Sale, Multi-Family Address 424 S 13th St., 89101 Buyer SDS Realty Corp Seller Vega Villita Apartments, LLC Details 32 units; $54,843/unit APN 139-34-811-051 Seller Rep Blake Leavitt of Wardley Real Estate Sale, Land Address Carey Ave. & Nellis Blvd., 89115 Buyer Doumani Holdings LLC Seller NMG Capital Partners II & GKT5 LLC Details 2.3 acre; $1.25 … [Read more...] about Red Report: April 2018