Southern Nevada The Las Vegas Valley anchored retail vacancy rate ticked up from 11 percent in Q2, 2016 to 11.1 percent in Q3, 2016. At the end of Q3, vacancy rates were 7.8 percent in power centers, 12.8 percent in community centers and 11.2 percent in neighborhood centers. With the retail market just one point above the 10 percent stabilized rate and taxable retail sales at … [Read more...] about Retail Summary: Third Quarter 2016
Monthly Editorial Departments
January 2017: Business Indicators
U.S. real gross domestic product (GDP) for the third quarter of 2016 grew at a 3.2 percent annualized rate instead of the 2.9 percent from the advanced estimate. The upward revision reflected higher consumer spending and net exports than previously reported, which were partly offset by smaller-than-expected fixed investment and state and local government spending. The … [Read more...] about January 2017: Business Indicators
Around the State: December 2016
First Ever Northern Nevada Construction Career Day a Success Sponsored by the Nevada Construction Collaborative, the first ever Northern Nevada Construction Career Day was attended by over 600 middle and high school students. Students were bussed in from Washoe, Lyon, Douglas and Carson counties and experienced hands-on demonstrations of various construction trades. The … [Read more...] about Around the State: December 2016
Transferable Tax Credits
Private hands in taxpayers’ pockets It might be illegal under the Nevada Constitution for the government to give any private business a direct “gift” or subsidy — but since when does the ruling class let little things like constitutional intentions get in their way? The purpose of the constitutional ban on giveaways and subsidies to private corporations makes sense. Such … [Read more...] about Transferable Tax Credits
Red Report: December 2016
E Sale, Industrial ADDRESS 2485 Marco St., 89115 BUYER Salazar Management Group V, LLC SELLER Lee Family Trust DETAILS 8,060 SF; $1,050,000 APN 140-17-801-006 BUYER’S REP Weichert Realtors – Aspire SELLER’S REP Sean Zaher of CBRE H Sale, Office ADDRESS 1410 & 1434 E. Lake Mead Pkwy., 89015 BUYER Great Blue Lake, LLC SELLER Lake Mead Properties, LLC DETAILS … [Read more...] about Red Report: December 2016
Office Summary: Third Quarter 2016
Southern Nevada Las Vegas Valley’s speculative office vacancy rate in Q3, 2016 declined 0.2 points to 20 percent from Q2, 2016. Compared to Q3, 2015, the office vacancy rate is up 0.2 points, from 19.8 percent. Vacancy rates ranged from 15 percent for Class C space to a high of 28.2 percent for Class A space at the end of Q3. In terms of the trend, the Office market continues … [Read more...] about Office Summary: Third Quarter 2016
December 2016: Business Indicators
U.S. real gross domestic product (GDP) for the third quarter of 2016 expanded at a 2.9 percent annualized growth rate based on the advanced estimate. This unusual and surprising jump after three quarters of sluggish growth reflects a surge in agricultural (soybean) exports and a rebound in business inventories, which bring doubt about continued strong growth in the fourth … [Read more...] about December 2016: Business Indicators
Around the State: November 2016
Nevada Awarded $283,000 for Export Expansion The U.S. Small Business Administration (SBA) has pledged $18.85 million to support export growth for small businesses and Nevada has been awarded $283,000 of the total. The funds were awarded through SBA’s State Trade Expansion Program (STEP) and the Nevada Governor’s Office of Economic Development (GOED) has been awarded the grant … [Read more...] about Around the State: November 2016
The Elections Aren’t the End: They’re Just the Beginning
For far too long now, Nevada has been increasing the regulatory and tax burden on businesses, while simultaneously giving special handouts to politically connected companies and industries. It’s an environment that is ripe for corruption, abuse and political shenanigans. It breeds “protectionist lobbying,” allowing politically connected companies to squeeze out small … [Read more...] about The Elections Aren’t the End: They’re Just the Beginning
Red Report: November 2016
E Project, Office ADDRESS 700 S. 3rd St., 89101 CONTRACTOR OF RECORD OS Construction Services, Inc. DETAILS Rogers, Mastrangelo, Carvalhi & Mitchell, Ltd. (RMCM), a law firm, has broken ground on new headquarters in downtown Las Vegas. The 1.2 acre site will undergo the demolition of an existing building and construction of a new two-story building with Class A finishes … [Read more...] about Red Report: November 2016
Industrial Summary: Third Quarter 2016
Southern Nevada The Las Vegas Valley’s overall industrial vacancy rate in Q3, 2016 was 5.2 percent, unchanged from Q2, 2016. As of Q3, it now appears that the industrial market rate is at full occupancy, as the market absorbs new space and the existing inventory is remade to fit the new demand for larger space. There were 565,340 square feet of industrial completions in Q3 … [Read more...] about Industrial Summary: Third Quarter 2016
Business Indicators: November 2016
The U.S. real gross domestic product (GDP) grew at a 1.4 percent annual rate in the second quarter of 2016, revised up by 0.3 percentage point from the second estimate. The upward revisions mainly reflected an increase in nonresidential fixed investment, which decreased in the previous estimate. Large gains in consumer spending contributed to a rise in real GDP, while cutback … [Read more...] about Business Indicators: November 2016
Around the State: October 2016
Nathan Adelson Hospice Acquires Solari Hospice Care The largest non-profit hospice in Nevada, Nathan Adelson Hospice, has finalized the acquisition of Las Vegas Solari Hospice Care, an end-of-life healthcare organization previously owned by HealthCare Partners Nevada, LLC. The acquisition is the result of a long-standing relationship between HealthCare Partners and Nathan … [Read more...] about Around the State: October 2016
The Immoral Crusade for More: Government Intervention Needs to Stop
It seems that whenever someone attacks the core principles of free-market capitalism, they do so with a self-righteous attitude of moral supremacy. After all, the push for redistributing wealth, regulating businesses and expanding government always seems to be “for the greater good,” so it’s easy to see why big government advocates are so smitten with themselves. As such, … [Read more...] about The Immoral Crusade for More: Government Intervention Needs to Stop
Red Report: October 2016
E Sale, Multi-Family ADDRESS 517 N. 28th St., 89101 BUYER Green Tree Apartment, LLC SELLER Las Vegas Apartments, LLC DETAILS 72 units; $54,166 per unit APN 139-36-110-028 SELLER’S REP Devin Lee, CCIM and Robin Willet of NAI Vegas | The Sauter Multifamily Group H Project, Other ADDRESS 655 E. Lake Mead Pkwy., 89015 CONTRACTOR OF RECORD Core Construction DETAILS A … [Read more...] about Red Report: October 2016