E Sale, Industrial ADDRESS 410 Mark Leany Dr., 89011 BUYER No Sweat Mechanical LLC SELLER M&R Leasing LLC DETAILS 5,400 SF; $415,000 APN 178-01-412-003 BUYER’S REP Jarrad Katz, CCIM, SIOR and Galit Kimerling of MDL Group SELLER’S REP Jack Holler Commercial Real Estate Lease, Retail ADDRESS 617 Mall Ring Rd., Ste 120, 89014 TENANT Wellness Connection of Nevada … [Read more...] about Red Report: June 2015
Monthly Editorial Departments
Office Summary: First Quarter 2015
Southern Nevada Las Vegas Valley office vacancy rates during the first quarter of 2015 ranged from 16.5 percent for Class C space to 29.3 percent for Class A space. The overall vacancy rate was 21.7 percent, a slight rise above the 21.3 percent recorded in quarter four of 2014. Q1’s rise equates to the first increase in vacancy rate in 6 quarters. Completions for Q1 were … [Read more...] about Office Summary: First Quarter 2015
Business Indicators: June 2015
The “advance” estimate for first quarter 2015 shows U.S. real gross domestic product increasing at an annualized rate of 0.2 percent. In fourth quarter 2014, real GDP increased by 2.2 percent. Personal consumption expenditures, federal government spending, changes in private inventories and residential investment made positive contributions. Non-residential fixed investment, … [Read more...] about Business Indicators: June 2015
Death and Taxes: With Some Revision, Sandoval’s Tax Hikes Not Necessary
In this world nothing can be said to be certain, except death and taxes.” — Benjamin Franklin Had Benjamin Franklin been living in 21st century Nevada, his famous quote might have read something like this: In Nevada, nothing seems certain, except death and tax increases. It appears that — regardless of who is elected, which party holds the majority, or how hard those in … [Read more...] about Death and Taxes: With Some Revision, Sandoval’s Tax Hikes Not Necessary
Around the State: May 2015
LandWell Company Donates 14-acres to Lake Mead Christian Academy The LandWell Company, developer of the 2,200 acre master planned community Cadence, has donated 14-acres of the community to the Lake Mead Christian Academy to accommodate the school’s expansion. The school, which was founded in 1989, begins construction immediately and is expected to open for the 2016 school … [Read more...] about Around the State: May 2015
Red Report: May 2015
E Project, Industrial ADDRESS 4025 E. Cheyenne Ave., 89115 CONTRACTOR OF RECORD United Construction Company DETAILS Construction is underway on Dermody Properties’ LogistiCenter Cheyenne. The 381,804 SF distribution facility will feature a 32-foot clear height, 80 trailer stalls and 248 parking stalls. The project is expected to be complete in October of this … [Read more...] about Red Report: May 2015
Industrial Summary: First Quarter 2015
Southern Nevada The overall vacancy rate for the Las Vegas Valley industrial market in Q1, 2015 was 6.9 percent, a drop of 0.3 points, from 7.2 percent in Q4, 2014. The first quarter’s decline equates to nine straight quarters of declining industrial vacancies. The strong growth in the demand for industrial space, paired with resurgent construction, shows that the Valley’s … [Read more...] about Industrial Summary: First Quarter 2015
Business Indicators: May 2015
The “third” estimate for fourth quarter 2014 shows U.S. real gross domestic product increasing at an annualized rate of 2.2 percent. Compared to the “second” estimate, personal consumption expenditures increased more, but were offset by smaller changes in private inventories. Nonresidential fixed investment, residential investment, and state and local government spending also … [Read more...] about Business Indicators: May 2015
Green Schools Not Right for Nevada
As districts begin to build new schools, they should focus on kids, not environmental activists New school buildings are coming to Nevada, and if recent years are any indication, the push to build those schools to “green” standards will be as strong as the push that led lawmakers to authorize 10 additional years of bonding without voter approval to fund the construction of … [Read more...] about Green Schools Not Right for Nevada
Around the State: April 2015
Chase International Installs Tesla Charging Station An independent real estate company, Chase International, has installed a Tesla charging station at the firm’s Zephyr Cove location. The high-power wall connector adds 58 miles of range per hour for the Model S vehicles. Chase is the latest in a growing network of businesses and resorts adding charging stations in anticipation … [Read more...] about Around the State: April 2015
Retail Summary: Fourth Quarter 2014
Southern Nevada The overall vacancy rate for the Las Vegas Valley anchored retail market in the fourth quarter of 2014 was 11.4 percent. The vacancy rate increased 0.4 points, from 11 percent in the third quarter. However, vacancies were down 0.3 points, from 11.7 percent compared to the same time in 2013. While the vacancy rate rose, the general trend still shows that the … [Read more...] about Retail Summary: Fourth Quarter 2014
Business Indicators: April 2015
The “second” estimate for fourth quarter 2014 shows U.S. real gross domestic product increasing at an annualized rate of 2.2 percent, lower than the 2.6 percent growth first reported. Compared to the “advanced” estimate, changes in private inventories increased less and nonresidential fixed investment increased more. Personal consumption expenditures, residential investment, … [Read more...] about Business Indicators: April 2015
Red Report: April 2015
E Project, Other ADDRESS SW Corner of Sahara Ave. & Las Vegas Blvd., 89104 CONTRACTOR OF RECORD Martin-Harris Construction DETAILS Construction is underway on MGM Resorts International’s open-air music venue. The entertainment complex will have a 2,700 SF administration and storage building, 23.3 acres for the main festival area, 7.7 acres for transportation pick-up and … [Read more...] about Red Report: April 2015
Stop the Insanity of Runaway Education Spending
Wholesale reform needed to improve Nevada education Anyone who has had an appliance break, a vehicle die or a computer fail knows the inevitable realization that paying for repair after repair no longer makes sense. No matter how many fixes are made, nothing can be successfully repaired into eternity. For some things, initial fixes make sense. One might get another year … [Read more...] about Stop the Insanity of Runaway Education Spending
Around the State: March 2015
SolarCity Expands to Reno SolarCity, a rooftop solar power provider, has announced a move to statewide operations. In addition to the work the company already does in Southern Nevada, SolarCity will now serve Reno, Sparks and the Carson City area. The company plans to open a Reno operations center in April and expects to hire over 30 local staff in the next few … [Read more...] about Around the State: March 2015