Southern Nevada The Las Vegas Valley anchored retail vacancy rate rose slightly from 10.2 in Q3. 2015 to 10.3 percent in Q4, 2015. At the end of Q4, vacancy rates ranged from 7.5 percent in power centers to 11.2 percent in neighborhood centers. With the retail market just above the 10 percent stabilized rate and taxable retail sales at all-time highs, the Valley’s anchored … [Read more...] about Retail Summary: Fourth Quarter 2015
Monthly Editorial Departments
Business Indicators: April 2016
The second estimate for U.S. real gross domestic product (GDP) for the fourth quarter of 2015 was revised up from the first (advanced) estimate of 0.7 to 1.0 percent annualized growth rate. The revision occurred because private inventory investment experienced a smaller decline than estimated in the previous month. U.S. nonfarm employment added a more-than-expected 242,000 jobs … [Read more...] about Business Indicators: April 2016
Red Report: March 2016
BC Sale, Motel ADDRESS 704 Nevada Hwy., 89005 BUYER Bal Gosal SELLER US Bankruptcy Trustee DETAILS 113 rooms; $13,363 per room APN 186-09-110-042 SELLER’S REP Charles Connors of Colliers International E Sale, Office ADDRESS 600 E. Charleston Blvd., 89104 BUYER Hellfire Media, LLC SELLER State Bar of Nevada DETAILS 10,711 SF; $1.4 million APN … [Read more...] about Red Report: March 2016
Around the State: March 2016
Business Confidence Rebounds According to the UNLV Center for Business and Economic Research (CBER), the Southern Nevada business confidence index, which is tracked by the center, increased by 6.6 percent on a quarterly basis. This is a rebound from the previous three straight quarters of decline. VEA Earns Cornerstone Award from Pahrump Valley Chamber The Pahrump Valley … [Read more...] about Around the State: March 2016
History Repeats Itself
One of the problems with “progressive” ideas is that they often turn out to be the recycled remains of already tried-and-failed concepts. Nevada’s Commerce Tax — set to take effect this summer — is a prime example. Billed as an innovative tax on large businesses, the Commerce Tax will soon slap a new cost of doing business on any company with more than $4 million in … [Read more...] about History Repeats Itself
Office Summary: Fourth Quarter 2015
Southern Nevada The Las Vegas Valley spec office vacancy rate in Q4, 2015 declined 0.1 points to 18.4 percent from Q3, 2015. Compared to Q4, 2014, the office vacancy rate is down 0.5 points, from 18.9 percent. Q4’s vacancy rate drop means that the Valley’s office market has improved for four straight quarters. Vacancy rates ranged from 13.3 percent for Class C space to 27.1 … [Read more...] about Office Summary: Fourth Quarter 2015
Business Indicators: March 2016
The advance estimate for U.S. real gross domestic product (GDP) for the fourth quarter of 2015 reports a weak 0.7 percent annualized growth rate. Overall, the U.S. economy increased its size 1.8 percent year-over-year in 2015, down from 2.5 percent year-over-year in 2014. U.S. nonfarm employment continued to grow by adding a less-than-expected 151,000 jobs in January 2016. Even … [Read more...] about Business Indicators: March 2016
Around the State: February 2016
University of Nevada, Reno College of Business Ranks Among Best in Nation The U.S. News & World Report has ranked the University of Nevada, Reno’s College of Business at 31st out of 163 schools in the nation for having the best online MBA program. The ranking evaluated schools based solely on data related to distance education MBA programs. The College of Business’ … [Read more...] about Around the State: February 2016
Good or Bad Financial Times, Government Just Keeps Growing
Many government workers are probably wondering what all the fuss is about when they think back to the “great recession.” Sure, home values dropped and things seemed to slow down a bit, but it wasn’t really that bad, right? Well, not for them. It’s no secret that government employees enjoy considerably more job security than their private-sector counterparts, but the … [Read more...] about Good or Bad Financial Times, Government Just Keeps Growing
Red Report: February 2016
E Project, Hotel ADDRESS 1 S. Main St., 89101 CONTRACTOR OF RECORD Breslin Builders DETAILS The Plaza Hotel & Casino in downtown Las Vegas has begun an extensive, multi-million dollar renovation to its rooftop pool including resurfacing and maintenance to the 70 SF pool deck. The new rooftop pool is slated to reopen this summer. Sale, Multi-Family ADDRESS 2895 E. … [Read more...] about Red Report: February 2016
Industrial Summary: Fourth Quarter 2015
Southern Nevada The Las Vegas Valley’s overall industrial vacancy rate in Q4, 2015 was 4.7 percent, a rise of 0.3 points, from 4.4 percent in Q3, 2015. Q4’s increase was the first quarter that the vacancy rose in three years. Additionally, between November 2014 and November 2015, the number of industrial-space using jobs in the Valley jumped by 6.9 percent. The strong growth … [Read more...] about Industrial Summary: Fourth Quarter 2015
Business Indicators: February 2016
The third estimate for U.S. real gross domestic product (GDP) for the third quarter of 2015 reports a 2.0 percent annualized growth rate, revised down from the 2.1 percent rate for the second estimate. Strong consumer spending still remained a main contributor to U.S. economic growth in the third quarter. The continuing Chinese economic slowdown disrupted the U.S. stock market … [Read more...] about Business Indicators: February 2016
Around the State: January 2016
RTC Introduces Yellow Dot Program The Regional Transportation Commission of Southern Nevada (RTC) has unveiled the Nevada Yellow Dot program. The program is a traffic safety initiative which incorporates a simple yellow dot window decal to alert first responders to critical medical information in order to improve emergency care for those involved in vehicle crashes or who … [Read more...] about Around the State: January 2016
The Minimum Wage is not Just Anti-Business – It’s Anti-Worker as Well
Workers who make the least are hit hardest by short-sighted minimum wage hikes As economist Murray Rothbard once put it, there is only one way to describe a minimum wage law: “It is compulsory unemployment.” If the activist group The Committee to Raise the Minimum Wage in Nevada gets their way, Nevadans will see exactly what Rothbard warned against. The group has filed a … [Read more...] about The Minimum Wage is not Just Anti-Business – It’s Anti-Worker as Well
Red Report: January 2016
E Sale, Retail ADDRESS 1201 – 1240 E. Charleston Blvd., 89104 BUYER Downtown Rental, Inc. SELLER US Bank National Association DETAILS 27,402 SF; $2,250,000 APN 139-34-814-001 REP (BOTH) Wil Chaffee and Paul Chaffee of NAI Vegas Sale, Land ADDRESS 5366 Stephanie St., 89122 BUYER Oxford Investment Partner, LLC SELLER CRV Classic Properties, LP DETAILS 1.66 acres; … [Read more...] about Red Report: January 2016