Southern Nevada The Las Vegas Valley anchored retail vacancy rate declined from 11.3 percent to 11 percent in the past 12 months. At the end of Q2, vacancy rates were 7 percent in power centers, 12.5 percent in community centers and 11.8 percent in neighborhood centers. With the retail market just 1 point above the 10 percent stabilized rate and taxable retail sales at … [Read more...] about Retail Summary: Second Quarter 2016
Monthly Editorial Departments
Business Indicators: October 2016
The U.S. real gross domestic product (GDP) grew at a 1.1 annual rate in the second quarter of 2016, The increase in real GDP was mainly due to surprisingly large gains in consumer spending, while cutbacks in private business investment contributed to U.S. economic growth remaining stuck in the slow lane. In spite of lackluster business investment, U.S. nonfarm employment added … [Read more...] about Business Indicators: October 2016
Around the State: September 2016
Startup Incubator Partners with UNR’s Innevation Center The University of Nevada, Reno Innevation Center has announced a partnership with The Batchery to support entrepreneur development in Nevada. The Batchery is a California-based global incubator for seed stage startups that bills itself as the “global gateway to Silicon Valley”. The partnership gives Batchery members … [Read more...] about Around the State: September 2016
Political Elites Send a Message: ‘Dissent Will Not Be Tolerated’
Nineteen U.S. senators, organized by global-warming alarmist groups, took to the Senate floor recently in an attempt to smear anyone who dares publicly criticize Big Government’s “green energy” schemes. Harry Reid led the charge — singling out the Nevada Policy Research Institute (NPRI), by name. “Those who ignore the climate crisis, or deny it exists, do not have a valid … [Read more...] about Political Elites Send a Message: ‘Dissent Will Not Be Tolerated’
Red Report: September 2016
E Sale, Multi-Family ADDRESS 5325 E. Tropicana Ave., 89122 BUYER Aspen Square Management, Inc. SELLER Majestic Heights Owner, LLC DETAILS 240 units; $77,500 per unit APN 161-28-102-002 SELLER’S REP Art Carll and Patrick Sauter of NAI Vegas | The Sauter Multifamily Group H Sale, Retail ADDRESS Multiple Properties, 89052 BUYER 3D Investments, LLC SELLER Eastern … [Read more...] about Red Report: September 2016
Office Summary: Second Quarter 2016
Southern Nevada Las Vegas Valley’s speculative office vacancy rate in Q2 2016 declined 2.5 points to 16.2 percent from Q1 2016. This was a big decline after the first rise in vacancy in four quarters during Q1. Vacancy rates ranged from 14.1 percent for Class C space to 21.3 percent for Class A space at the end of Q2. There was one office completion in Q2, the Park at … [Read more...] about Office Summary: Second Quarter 2016
Business Indicators: September 2016
The advanced estimate for U.S. real gross domestic product (GDP) for the second quarter of 2016 indicated a much weaker-than-expected growth of 1.2 percent. In addition, the first quarter’s real GDP growth was revised downward to 0.8 percent from 1.1 percent. Private investment, again, contributed negatively to U.S. economic expansion, falling by 9.7 percent from the previous … [Read more...] about Business Indicators: September 2016
Public Sector Unions: Not pro-worker, rather Anti-Freedom
What level of service would private businesses provide if they knew their consumers had no choice but to purchase their product? In the real-world of private-sector industry, customers are retained by providing them with a good or a service at a price they are willing to pay. In the world of public-sector unions, however, coercion, cronyism and deceit are the favored methods … [Read more...] about Public Sector Unions: Not pro-worker, rather Anti-Freedom
Around the State: August 2016
NCOT Provides Grants for Rural Tourism The Nevada Commission on Tourism (NCOT) has funded nearly $900,000 in grants to organizations promoting rural Nevada tourism. The funds are provided through the NCOT’s Rural Grants Program. Organizations that received the grants include the Great Basin Heritage Area Partnership, Backcountry Discovery Routes, Wells Chamber of Commerce, Las … [Read more...] about Around the State: August 2016
Red Report: August 2016
E Sale, Other ADDRESS 5621 – 5719 Judson Ave., 89156 BUYER Progressive Pilgrims Fellowship SELLER Saint Michael Antiochian Orthodox Church DETAILS 7,000 SF; $730,000 APN 140-21-601-005 SELLER’S REP Al Twainy, CCIM of Colliers International H Sale, Office ADDRESS 150 N. Gibson Rd., 89014 BUYER Harsch Investment Properties SELLER Basic Land Company, Inc. DETAILS … [Read more...] about Red Report: August 2016
Industrial Summary: Second Quarter 2016
Southern Nevada The Las Vegas Valley’s overall industrial vacancy rate in Q2, 2016 was 4.6 percent, a decline of 0.4 points from 5.0 percent in Q1, 2016. Q2’s decrease ended two quarters of increases in the industrial vacancy rate. However, with vacancies at low levels and positive economic trends, rate increases are currently more likely due to simple statistical … [Read more...] about Industrial Summary: Second Quarter 2016
Business Indicators: August 2016
The third estimate for U.S. real gross domestic product (GDP) for the first quarter of 2016 was revised upward to 1.1 percent annualized growth rate from the 0.8 percent second estimate. The revision occurred as more complete data showed that exports increased more than previously thought. Nevertheless, the stronger dollar, cheaper oil and a weaker global economy still … [Read more...] about Business Indicators: August 2016
If Cronyism Is the Problem, Maybe We Should Stop Empowering Its Enablers
America’s young adults don’t seem nearly as turned off by socialism as do their parents and grandparents. Actually, they seem pretty receptive to the concept. No doubt decades of class warfare have helped make younger generations feel more inclined to “soak the rich.” But, it also seems likely they’re more prone to flirting with socialism because of general disillusionment … [Read more...] about If Cronyism Is the Problem, Maybe We Should Stop Empowering Its Enablers
Around the State: July 2016
UNLV Releases White Paper on Fiscal Impact of Nevada Sales Tax In an effort to determine future impacts of a possible sales tax on services, the University of Nevada, Las Vegas has released a white paper, A General Sales Tax on Services in Nevada: Fiscal Impacts & Stability. The white paper found that the best-case scenario for potential revenues from a uniform tax of 2 … [Read more...] about Around the State: July 2016
Red Report: July 2016
E Sale, Retail ADDRESS 5061 E. Sahara Ave., 89142 BUYER JARM, LLC SELLER East Sahara & Nellis, LLC DETAILS 9,200 SF; $2,550,000 APN 161-09-115-003 SELLER’S REP Nelson Tressler and Michael Zobrist of Newmark Grubb Knight Frank H Sale, Office ADDRESS 139 E. Warm Springs Rd., 89015 BUYER Daniel J. Beumer SELLER Foundation Executives Suites, LLC DETAILS 6,300 SF; … [Read more...] about Red Report: July 2016