Southern Nevada The Las Vegas Valley retail market started 2017 with a small rise in the vacancy rate - 0.3 points from 10.5 percent in Q4, 2016 to 10.8 percent in Q1, 2017. At this point, the Valley’s retail market is generally stabilized. However, this “stabilized” state, just below the surface, remains in flux. The Las Vegas Valley retail market started 2017 with a small … [Read more...] about Retail Summary: First Quarter 2017
Monthly Editorial Departments
July 2017: Business Indicators
The “second” estimate for U.S. real gross domestic product (GDP) for the first quarter of 2017 grew at a 1.2 percent annualized rate, a half percentage point higher than the “first” estimate. The upward revision reflects larger gains in nonresidential fixed investment and personal consumption expenditure and smaller losses in state and local government spending. U.S. nonfarm … [Read more...] about July 2017: Business Indicators
We Shouldn’t Have to Get Government Permission Slips to Earn a Living
Music therapy, according to Nevada law, is “the clinical use of music interventions” within a therapeutic relationship — including dance, song writing, lyric discussions and even simply listening to music. Nevada law also states that, without the government’s express permission, practicing “music therapy” is a criminal offense. So too is giving professional interior … [Read more...] about We Shouldn’t Have to Get Government Permission Slips to Earn a Living
Around the State: June 2017
Summerlin Hospital Plans Expansion Receives Certification Summerlin Hospital, which is celebrating it’s 20th anniversary this year, will undergo a $16 million capital improvement project. The improvements will include expansions and renovations to the 454-bed hospital including adding 36 medical-surgical beds. The hospital was also recently awarded The Joint Commission’s Gold … [Read more...] about Around the State: June 2017
Red Report: June 2017
E Sale, Industrial ADDRESS 5080 Judson Ave. 89115 BUYER JDS Surfaces, LLC SELLER Liber, LLC DETAILS 14,500 SF; $850,000 APN 140-20-502-015 SELLER’S REP Danielle Steffen, SIOR and Amy Ogden, SIOR of Cushman & Wakefield | Commerce H Sale, Office ADDRESS 2534 Anthem Village Dr., 89052 BUYER Conejo Valley Properties SELLER Robison Seidler, Inc. DETAILS 5,040 SF; … [Read more...] about Red Report: June 2017
Office Summary: First Quarter 2017
Southern Nevada Las Vegas Valley’s office vacancy rate in Q1, 2017 increased by 0.1 points to 20.3 percent from Q4, 2016. Vacancy rates ranged from 15.4 percent for Class C space to a high of 27.0 percent for Class A space in Q1. Across the board, office submarkets are well above the 10 percent stabilized rate. There was one Spec Office completion in Q1, the 150,000 square … [Read more...] about Office Summary: First Quarter 2017
June 2017: Business Indicators
The “advance” estimate for U.S. real gross domestic product (GDP) for the first quarter of 2017 grew at a weaker-than-expected 0.7 percent annualized rate. The biggest positive contribution came from private domestic investment, while consumer spending posted the slowest growth since the end of the Great Recession based on incomplete data. Weak consumer spending, in spite of … [Read more...] about June 2017: Business Indicators
Around the State: May 2017
Women in Technology to be Recognized at Ceremony The fourth annual Las Vegas Women in Technology awards is being held on June 2nd. The ceremony is presented by the Las Vegas Community Tech Fund, WomenAdvancing.org and HiTech Las Vegas. The awards are presented to acknowledge the contributions of women in Las Vegas’ technology sector and honors are from a wide range of … [Read more...] about Around the State: May 2017
The “Green Energy” Lobby is About Cronyism —Not Polar Bears
It comes as no surprise that the Nevada legislature is, yet again, going to try to micromanage the energy market through a variety of new renewable energy mandates and subsidies. Sadly, it is even less of a shock that opposition to these initiatives is scarce, to say the least. After all, the “green energy” movement has done a fantastic job portraying itself as the … [Read more...] about The “Green Energy” Lobby is About Cronyism —Not Polar Bears
Red Report: May 2017
E Project, Industrial ADDRESS NEC of Las Vegas Blvd. & N. Walnut Rd., 89115 CONTRACTOR OF RECORD United Construction DETAILS The placement of the first wall panels for the 546,480 square foot LogistiCenter is complete. The building is slated for completion by the end of the second quarter of 2017. Sale, Office ADDRESS 1785 E. Sahara Ave., 89104 BUYER 1785 Office … [Read more...] about Red Report: May 2017
Retail Summary: First Quarter 2017
SOUTHERN NEVADA The Las Vegas Valley’s overall industrial vacancy rate in Q1 2017 was 5.5 percent, 0.3 percentage-points up from the 4th quarter of 2016. The warehouse/distribution product type was responsible for the vacancy increase as vacancy was down in all other product types. A large amount of warehouse/distribution space came to market in the second half of 2016; and … [Read more...] about Retail Summary: First Quarter 2017
May 2017: Business Indicators
The “third” estimate for U.S. real gross domestic product (GDP) for the fourth quarter of 2017 grew at a 2.1 percent annualized rate, up by 0.2 percentage point from the “second” estimate. According to more complete source data, consumer spending boosted real GDP more than expected. U.S. nonfarm employment added a less-than-expected 98,000 jobs in March. The unemployment rate, … [Read more...] about May 2017: Business Indicators
Around the State: April 2017
UNLV Lee Business School MBA Program Rises in Ranking The University of Nevada, Las Vegas (UNLV) Lee Business School’s MBA program has broken the top 100 in U.S. News & World Report’s annual ranking of part-time MBA programs. UNLV’s course rose from 102 to tie for 95th place and is part of the ranking of “America’s Best Graduate Schools”. The rankings compare over 300 … [Read more...] about Around the State: April 2017
‘Obamacare Lite’ Is Not the Free-Market Solution We Were Promised
When Republicans recently unveiled their first attempt to dismantle the Affordable Care Act, it became obvious the leadership was more focused on repackaging and rewriting than repealing and replacing. Certainly, some changes were suggested that would have boded well for businesses and individuals. While the individual and business mandates would remain a part of the law, … [Read more...] about ‘Obamacare Lite’ Is Not the Free-Market Solution We Were Promised
Red Report: April 2017
N Sale, Retail ADDRESS 8043 – 8053 N. Durango Dr., 89131 BUYER Durango SNS, LLC SELLER SSB Propco, LLC DETAILS 11,060 SF; $2,225,000 APN 125-08-817-002 SELLER’S REP Dustin R. Alvino of Marcus & Millichap Sale, Land ADDRESS SEC of Rainbow Blvd. & Ann Rd., 89130 BUYER Herbst Development, LLC SELLER Rainbow Ann 1, LLC DETAILS 1.64 acres; $1.4 million APN … [Read more...] about Red Report: April 2017