Southern Nevada The Las Vegas Valley anchored retail vacancy rate dropped slightly to 11.4 percent in Q3, 2015. At the end of Q3, vacancy rates ranged from 9.3 percent in power centers to 13.2 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 market remains fairly … [Read more...] about Retail Summary: Third Quarter 2015
Monthly Editorial Departments
Business Indicators: January 2016
The second estimate for U.S. real gross domestic product (GDP) for the third quarter of 2015 reports a 2.1 percent annualized growth rate, revised up from 1.5 percent in the first estimate. The revision mostly reflected higher levels of inventory investment in the private sector, while consumer spending and net exports were revised downward. Strong consumer spending still … [Read more...] about Business Indicators: January 2016
Report Card Shows which Lawmakers Stood up for Taxpayers: Only 20 of 63 Kept their Commitments to Taxpayers
It’s easy for elected officials to pay lip service to how well they’re doing and talk about their achievements but, just as in school, report cards show the world what actually happened. To that end, the Nevada Policy Research Institute (NPRI) has just released its 2015 Legislative Review & Report Card, which includes a narrative overview of the session and scores every … [Read more...] about Report Card Shows which Lawmakers Stood up for Taxpayers: Only 20 of 63 Kept their Commitments to Taxpayers
Around the State: December 2015
Republic Services Opens Largest Residential Recycling Center in North America Republic Services, Inc. has recently opened a new residential recycling center that is both the largest and smartest of its kind. The center is capable of processing two million pounds of material per day or 70 tons per hour and is expected to double recycling capacity in Southern Nevada. The … [Read more...] about Around the State: December 2015
Red Report: December 2015
E Sale, Office ADDRESS 1380 E. Sahara Ave. & 2408 Pardee Pl., 89104 BUYER Consulting Advisors of Nevada, LLC SELLER Rusty Croissant, LLC DETAILS 5,540 SF; $650,000 APN 162-02-410-116 & 162-02-410-117 BUYER’S REP Amy Kyzykyan of Realty One Group SELLER’S REP Matt Feustel of Virtus Commercial Sale, Retail ADDRESS 1100 E. Charleston Blvd., 89104 BUYER Ten15 … [Read more...] about Red Report: December 2015
Office Summary: Third Quarter 2015
Southern Nevada Las Vegas Valley “spec office” vacancy rates during Q3, 2015 declined 0.3 points to 21.3 percent from Q2, 2015. Compared to Q3, 2014, the office vacancy rate is down 0.3 points, from 21.6 percent. Q3’s vacancy rate-decline means that the Valley’s office market has been improving for seven of the last eight quarters. Vacancy rates ranged from 15.2 percent for … [Read more...] about Office Summary: Third Quarter 2015
Business Indicators: December 2015
The first estimate for U.S. real gross domestic product (GDP) for the third quarter of 2015 reports a 1.5 percent annualized growth rate, a 61 percent decline from the second quarter. Despite modest growth, the Bureau of Economic Analysis stated that U.S. domestic consumption, which accounts for about two-thirds of real GDP, remained strong. More specifically, personal … [Read more...] about Business Indicators: December 2015
Around the State: November 2015
State Gas Prices Among Highest in Nation According to a report released by AAA, Nevada motorists have been paying some the highest prices gas prices in the country. Despite the average cost of gas decreasing, the Silver State’s current average is $2.86 and the third highest in the United States. The data was released as part of AAA’s Fuel Gauge Report. The continued refinery … [Read more...] about Around the State: November 2015
Red Report: November 2015
E Sale, Multi-Family ADDRESS 310 – 400 S. 11th St., 89101 BUYER BDR Cascadia SELLER Norma Jakubowski DETAILS 57 units; $45,947 per unit APN 139-34-712-101 SELLER REP Michael LaBar and Michael Shaffner of Avison Young Sale, Multi-Family ADDRESS 1823 Santa Paula Dr., 89104 BUYER 1823 Santa Paula Apartments, LLC SELLER Eagle Property Partners, LLC DETAILS 12 units; … [Read more...] about Red Report: November 2015
Industrial Retail Summary: Third Quarter 2015
Southern Nevada The overall vacancy rate for the Las Vegas Valley Industrial market in Q3, 2015 was 5 percent, a drop of 1.2 points, from 6.2 percent in Q3, 2015. The decline equates to 11 straight quarters of declining industrial vacancies. Additionally, between August 2014 and August 2015, the number of industrial-space using jobs in the Valley increased by 4.9 … [Read more...] about Industrial Retail Summary: Third Quarter 2015
Business Indicators: November 2015
The “third” estimate for U.S. real gross domestic product (GDP) for the second quarter of 2015 reports a 3.9 percent annualized growth rate, revised up by 0.2 percent from the second estimate. The Bureau of Economic Analysis stated that a second-quarter increase in real GDP mostly reflected strong consumer spending. More specifically, personal consumption expenditures, net … [Read more...] about Business Indicators: November 2015
The Issue of Land: A Key Discussion for Nevada’s Future
As Presidential candidates make their way to Nevada, the economy will undoubtedly be among their talking points, and in the West, the future of the economy has much to do with land. The issue of land ownership is perhaps nowhere more important than in Nevada, which is overwhelmingly hogtied by the federal government. Holding title to over 81 percent of Nevada land, the … [Read more...] about The Issue of Land: A Key Discussion for Nevada’s Future
Red Report: October 2015
E Sale, Industrial ADDRESS 4750 N. Lamb Blvd., 89115 BUYER Bixby Land Company SELLER Pamida Realty, LLC DETAILS 180,000 SF; $15.1 million APN 140-05-111-005 SELLER’S REP Ben Millis and Chris Beets of Newmark Grubb Knight Frank Sale, Industrial ADDRESS 3045 N. Lamb Blvd., 89115 BUYER Robbie Auto, Inc. SELLER Talmer West Bank DETAILS 10,646 SF; $970,000 APN … [Read more...] about Red Report: October 2015
Commercial Retail Summary: Second Quarter 2015
Southern Nevada The Las Vegas Valley Anchored Retail vacancy rate remained unchanged at 11.9 percent in the second quarter. At the end of Q2, vacancy rates ranged from 9.2 percent in Power Centers to 13.2 percent in Neighborhood Centers. The second quarter ends two consecutive quarters of increasing vacancy rates. With the retail market near the 10 percent stabilized rate and … [Read more...] about Commercial Retail Summary: Second Quarter 2015
Business Indicators: October 2015
The “second” estimate for U.S. real gross domestic product (GDP) in the second quarter of 2015 indicates an annualized rate increase of 3.7 percent, which is a significant upward revision from the advance estimate of 2.3 percent. The Bureau of Economic Analysis stated that second-quarter increases in real GDP mostly reflected strong consumer spending. More generally, personal … [Read more...] about Business Indicators: October 2015