Northern Nevada By NAI Alliance The Reno/Sparks retail market saw continued improvement in the third quarter. Two anchor tenants opened stores in the market this quarter. Grocery Outlet opened their fourth location in the Spanish Springs Shopping Center in a portion of the former Scolari’s grocery store site. Sprouts opened their first local store along with Starbuck’s in … [Read more...] about Retail Summary: Third Quarter 2017
Monthly Editorial Departments
Business Indicators: January 2018
The “second” estimate for U.S. real gross domestic product (GDP) for the third quarter of 2017 posted the strongest growth in three years, expanding at a 3.3 percent annualized rate. The upward revision of 0.3 percent from the first estimate of 3.0 percent reflected stronger-than-expected business investment, especially inventories. A smaller loss in state and local government … [Read more...] about Business Indicators: January 2018
Around the State: December 2017
Hometown Health Expands to Southern Nevada A non-profit health insurance company, Hometown Health has expanded its presence in Southern Nevada. The company has been in Northern Nevada since 1988 and targets individuals, families and employer groups with 50 or less employees. Self-Driving, Public Shuttle Launched in Downtown Las Vegas AAA has launched the nation’s first … [Read more...] about Around the State: December 2017
Political Contempt is Chilling Free Speech
Americans still largely believe in the right to free speech — but they are simultaneously less likely to exercise it than they have been in the past. And it’s not hard to see why. According to a recent Cato survey on the topic, nearly three-fourths of Americans say that “political correctness” has significantly silenced political speech on important issues. A quick … [Read more...] about Political Contempt is Chilling Free Speech
Red Report: December 2017
E Sale, Industrial ADDRESS 4480 Calimesa St., 89115 BUYER 777 Corporate Relocation, LLC SELLER NLV Sagebrush, LLC| DETAILS 19,125 SF; $2,237,625 APN 140-05-210-023 BUYER’S REP Sean Zaher, CBRE Lease, Office ADDRESS 6875 Speedway Blvd., 89115 TENANT Exhibit Services, LLC LANDLORD Speedway Commerce Center, LLC c/o Harsch Investment Properties DETAILS 23,675 SF; … [Read more...] about Red Report: December 2017
Office Summary: Third Quarter 2017
Southern Nevada Las Vegas Valley’s office vacancy rate in Q3 2017 declined by 0.9 points to 18.3 percent from Q2 2017. Compared to Q3 2016, the office vacancy rate was down 1.8 points, from 20.1 percent. Vacancy rates ranged from 15.9 percent for Class C space to a high of 20.8 percent for Class B space in Q3. Las Vegas Valley’s office vacancy rate in Q3 2017 declined by 0.9 … [Read more...] about Office Summary: Third Quarter 2017
Business Indicators: December 2017
The “advance” estimate for U.S. real gross domestic product (GDP) for the third quarter of 2017 grew strongly at a 3.0 percent annualized rate. The main positive contributors of economic growth did not change from the last quarter. Consumer spending and business investment, including inventories, remain robust, and net exports and federal government spending further … [Read more...] about Business Indicators: December 2017
Around the State: November 2017
UNLV Wins in Solar Decathlon The University of Nevada, Las Vegas’ (UNLV) team has won multiple awards at the U.S. Department of Energy’s Solar Decathlon competition. Among others, the school took home second in the engineering and architecture contests and first in innovation. The school placed eighth overall in the 10-day competition which challenges student teams from around … [Read more...] about Around the State: November 2017
Be Thankful for Our Ability to Fail
The late Steve Jobs once explained that “A lot of times, people don’t know what they want until you show it to them.” This is clearly the mentality of a successful entrepreneur. Part of this mindset is the ability to see the world, and the marketplace, with fresh eyes — to spot new ways of doing things and then exploit those opportunities while the rest of the world is … [Read more...] about Be Thankful for Our Ability to Fail
Red Report: November 2017
E Sale, Retail ADDRESS 1711 S. Main St. and 1736 & 1800 S. Las Vegas Blvd., 89104 BUYER 1700 Vegas, LLC SELLER Bali Family Trust, et al. DETAILS 28,560 SF; $6,350,000 APN 162-03-302-001 – 162-03-302-003 SELLER’S REP Paul Chaffee, CCIM, and Wil Chaffee, CCIM, SIOR of Sun Commercial Real Estate Sale, Multi-Family ADDRESS 5300 E. Craig Rd., 89115 BUYER IAVF … [Read more...] about Red Report: November 2017
Industrial Summary: Third Quarter 2017
Southern Nevada The Las Vegas Valley’s overall industrial vacancy rate in Q3, 2017 was 5.5 percent, down 0.5 percentage points from the second quarter. Vacancies were down all product types except for light industrial. The quarter also saw a large amount of completions. The Valley’s industrial market remains healthy and continues to grow. Q3, 2017 saw 2.3 million square … [Read more...] about Industrial Summary: Third Quarter 2017
Business Indicators: November 2017
The “third” estimate for U.S. real gross domestic product (GDP) for the second quarter of 2017 was revised upward to a 3.1 percent annualized rate, which is 0.1 percentage point higher than the “second” estimate. The upward revision reflected a slightly higher increase in private inventory investment than previously thought. U.S. nonfarm employment lost 33,000 jobs, which is … [Read more...] about Business Indicators: November 2017
Around the State: October 2017
Nevada Department of Transportation Receives Additional Federal Funding The Nevada Department of Transportation has announced $21.6 in additional federal highway spending authority. The funds have been made available for Nevada road projects through redistribution of Federal Highway Administration fiscal year-end funds. The additional monies will help fund projects throughout … [Read more...] about Around the State: October 2017
Taxpayers Already Said “No” Once Before
Much like government entitlement programs, it seems there is nothing more permanent in this world than a newly-enacted tax. However, soon, Nevada taxpayers might have an opportunity to create an exception to this rule. The Commerce Tax — the state’s ill-advised tax on gross-receipts — might finally be brought before the voters. Currently, signatures are being gathered to … [Read more...] about Taxpayers Already Said “No” Once Before
Red Report: October 2017
E Sale, Office ADDRESS 1750 E. Sahara Ave., 89104 BUYER Laborers International Union North America, Local 872 (LIUNA, Inc.) SELLER Greater Las Vegas Association of Realtors (GLVAR) DETAILS 25,952 SF; $2,750,000 APN 162-02-812-001 BUYER’S REP Peter Guzman SELLER’S REP David Scherer and Michael Hsu of Newmark Knight Frank Lease, Industrial ADDRESS 2930 Marco St., … [Read more...] about Red Report: October 2017