Southern Nevada The Las Vegas Valley anchored retail had an encouraging finish to 2016 with vacancy dropping 0.7 points from 11.2 percent in Q3, 2016 to 10.5 percent in Q4, 2016. At the end of Q4, vacancy rates were 6.8 percent in power centers, 11.8 percent in community centers and 11.4 percent in neighborhood centers. Record high taxable sales are playing a significant role … [Read more...] about Retail Summary: Fourth Quarter 2016
Monthly Editorial Departments
April 2017: Business Indicators
The “second” estimate for U.S. real gross domestic product (GDP) for the fourth quarter of 2017 grew at a 1.9 percent annualized rate, remaining unchanged from the “advance” estimate. According to more complete source data, consumer spending increased more strongly than previously thought, but increases in state and local government spending and nonresidential fixed investment … [Read more...] about April 2017: Business Indicators
Around the State: March 2017
USA Parkway Extension Hits Midway Mark The Nevada Department of Transportation (NDOT) has reached the 50 percent milestone in the completion of the USA Parkway extension. The project connects Interstate 80 and U.S. 50 in Storey and Lyon counties. USA Parkway was originally constructed as a privately-built, six mile road connecting I-80 to the Tahoe Reno Industrial Center east … [Read more...] about Around the State: March 2017
Lawmakers Should Focus on Consequences of Minimum Wage Hikes – Not Mere Intentions
It didn’t take the new Nevada legislature long before it started toying with the idea of raising the minimum wage. Introduced within the first week of Nevada’s 79th legislative session, SB106 would incrementally increase the minimum wage from the current $8.25 per hour to a grand total of $12 per hour. Another more aggressive proposal — AB175 — was introduced the following … [Read more...] about Lawmakers Should Focus on Consequences of Minimum Wage Hikes – Not Mere Intentions
Red Report: March 2017
E Sale, Industrial ADDRESS 5406 E. El Campo Grande Ave. Blgds. 7/8 C, 89115 BUYER Exhibit Options SELLER Thomas & Mack Development DETAILS 20,028 SF; $1,962,744 APN 123-28-310-002 BUYER’S REP The Larkin Team of NAI Vegas SELLER’S REP Jake Higgins and Kevin Higgins, SIOR of CBRE Sale, Land ADDRESS NWC of Tropical Pkwy. & Range Rd., 89115 BUYER Madison/Chewy, … [Read more...] about Red Report: March 2017
Office Summary: Fourth Quarter 2016
Southern Nevada Las Vegas Valley’s speculative office vacancy rate in Q4, 2016 increased by 0.1 points to 20.2 percent from Q3, 2016. Compared to Q4, 2015, the office vacancy rate was up 0.2 points, from 20 percent. Vacancy rates ranged from 15.4 percent for Class C space to a high of 28.2 percent for Class A space at the end of Q4. The office market has fluctuated back and … [Read more...] about Office Summary: Fourth Quarter 2016
March 2017: Business Indicators
The “advanced” estimate for U.S. real gross domestic product (GDP) for the fourth quarter of 2017 increased at a 1.9 percent annualized rate. Although the real GDP growth rate decelerated compared to last quarter’s 3.5 percent increase, the underlying categories showed more strength. Consumer spending stayed robust and business investment finally moved out of a negative or … [Read more...] about March 2017: Business Indicators
Around the State: February 2017
Las Vegas Breaks Tourism Record According to data compiled by the Las Vegas Convention and Visitors Authority, Las Vegas has broken the city’s all-time record of visitation growth with 42.9 million visitors in 2016. This is the third consecutive record-breaking year with 2015 seeing 42.3 million visitors. In addition, convention attendance also broke records in 2016 with 6.3 … [Read more...] about Around the State: February 2017
Federal Land Is About Control, Not Conservation
In the final months of his presidency, President Obama used his executive authority to place millions of acres of western lands “off limits” to development — and big-government environmentalists cheered the move. Certainly the protections put in place by declaring large swaths of western lands “protected” is a policy result that pleases the ecologically concerned — but … [Read more...] about Federal Land Is About Control, Not Conservation
Red Report: February 2017
E Sale, Land ADDRESS 2214 N. Pecos Rd., 89115 BUYER Oxford Investment Partners SELLER Brian J. Horner DETAILS 3.88 acres; $250,000 APN 140-19-101-015 BUYER’S REP Matthew Feustel of Virtus Commercial Loan, Motel ADDRESS 4288 N. Nellis Blvd., 89115 LOAN OFFICER David Blum of NorthMarq Capital DETAILS NorthMarq Capital negotiated the $3 million refinance of La Quinta … [Read more...] about Red Report: February 2017
Industrial Summary: Fourth Quarter 2016
Southern Nevada The Las Vegas Valley’s overall industrial vacancy rate in Q4, 2016 was 4.8 percent. Since Q3, 2015 the Valley’s industrial market rate has been at full occupancy and has been absorbing new space while remaking the existing inventory to accommodate larger space demand. Q4 saw 2,045,634 square feet of completed space, all of it in the warehouse/distribution … [Read more...] about Industrial Summary: Fourth Quarter 2016
February 2017: Business Indicators
U.S. real gross domestic product (GDP) for the third quarter of 2016 increased at a 3.5 percent annualized rate. The surprising upswing of real GDP in the third quarter reflects a surge in agricultural (soybean) exports and a rebound in business inventories. The consumer price index also showed the largest jump in two years at 1.7 percent. November housing starts fell … [Read more...] about February 2017: Business Indicators
Around the State: January 2017
Rural Nevada Receives Over $188 Million Investment for FY 2016 The US Department of Agriculture Rural Development (USDA RD) has announced that, for fiscal year 2016, rural Nevada received $188 million in support of housing, community facilities, water systems and businesses. Further, the department announced that a total of $1.35 billion has been obligated statewide since 2009 … [Read more...] about Around the State: January 2017
Thanks to Capitalism, the Future Is Quickly Arriving
The future is apparently upon us. It’s true that we don’t yet have flying cars, cities built on clouds or Back-to-the-Future-style hover boards. But we are on the verge of having self-driving cars. And we already have telephones with more computing power than the system that successfully landed men on the moon. And now, thanks to retail giant Amazon, we will soon have … [Read more...] about Thanks to Capitalism, the Future Is Quickly Arriving
Red Report: January 2017
E Sale, Multi-Family ADDRESS 501 S. 10th St., 89101 BUYER Ambleside Properties LLP SELLER T.H. Steele DETAILS 44 units; $32,727 per unit APN 139-34-811-006 SELLER’S REP Michael R. LaBar and Michael L. Shaffner of Marcus & Millichap H Sale, Retail ADDRESS 210 N. Boulder Hwy., Bldg. F, 89015 BUYER Southpoint Apartment, Inc. SELLER WPI-Lake Boulder, LLC DETAILS … [Read more...] about Red Report: January 2017