E Sale, Industrial ADDRESS 4240 N. Lamb Blvd., 89115 BUYER FJM Northpointe Associates LLC SELLER 4240 Lamb Holdings LLC DETAILS 46,624 SF; $2,951,300 APN 140-05-420-000 BUYER’S REP Dean Willmore, SIOR of Colliers International SELLER’S REP Dan Doherty, SIOR of Colliers International Lease, Industrial ADDRESS 5406 El Campo Grande, Ste 180, 89115 TENANT Golden Star … [Read more...] about Red Report: March 2015
Monthly Editorial Departments
Office Summary: Fourth Quarter 2014
Southern Nevada The Las Vegas office sector reported positive net absorption for three consecutive quarters in 2014. By the end of the year, the office market vacancy rate was 23.6 percent. The latest vacancy rate is up 0.2 percentage points from the prior quarter, but it has declined 0.7 percentage points from a year ago. During the fourth quarter of 2014, One Summerlin … [Read more...] about Office Summary: Fourth Quarter 2014
Business Indicators: March 2015
The “advance” estimate for fourth quarter 2014 shows U.S. real gross domestic product increasing at an annualized rate of 2.5 percent, much lower than the 5.0 percent growth experienced during third quarter 2014. Personal consumption expenditures, nonresidential fixed investment, residential investment, changes in private inventories and state and local government spending made … [Read more...] about Business Indicators: March 2015
Around the State: February 2015
Reno-Tahoe Airport Announces Daily Route to New York The Reno-Tahoe Airport Authority recently announced a non-stop daily service between New York and Reno on JetBlue Airlines. The route will begin May 28th of this year and is the first ever daily, non-stop service between Reno-Tahoe and the John F. Kennedy International Airport. Hometown Health Purchases OneHealth … [Read more...] about Around the State: February 2015
Retiring in the Lap of Taxpayer-Funded Luxury
How pensions in Nevada are often better than paychecks Know a public employee in Nevada who is looking for a pay raise? Tell him to retire. According to a new analysis made possible by the court-ordered release of Nevada’s Public Employee Retirement System payment records, once-public employees in the Silver State are making golden pensions — so generous that their … [Read more...] about Retiring in the Lap of Taxpayer-Funded Luxury
Red Report: February 2015
E Sale, Industrial ADDRESS 3068-3076 Fremont St., 89104 BUYER Caliente NV, LLC SELLER Heitkotter Family LP DETAILS 19,810 SF; $999,000 APN 162-01-701-003 REP (both) Ben Millis and Chris Beets of Newmark Grubb Knight Frank Sale, Industrial ADDRESS 2512 Abels Ln., 89115 BUYER Torrent Holding Inc. SELLER Abels Lane LLC DETAILS 11,000 SF; $650,000 APN … [Read more...] about Red Report: February 2015
Industrial Summary: Fourth Quarter
Southern Nevada The Las Vegas industrial market vacancy rate fell to 8.0 percent in the fourth quarter of 2014. The vacancy rate is down 3.6 percentage points from a year ago. Industrial vacancies have been in the single digits for three consecutive quarters with annual declines reported for 12 consecutive quarters. In addition, the vacancy rate has declined 9.0 percentage … [Read more...] about Industrial Summary: Fourth Quarter
Business Indicators: February 2015
The “third” estimate for third quarter 2014 shows U.S. real gross domestic product increasing at an annualized rate of 5 percent, higher than the 3.9 percent growth initially reported. In the revision, personal consumption expenditures and nonresidential fixed investment increased more than previously estimated. Residential investment, net exports, federal government spending, … [Read more...] about Business Indicators: February 2015
Around the State: January 2015
Cox Activates 500 Wi-Fi Hotspots in Las Vegas Cox Las Vegas has launched the first of 500 hotspots that have been installed around the Las Vegas Valley. The launch came on the heels of a ribbon-cutting for a Henderson Cox Solutions store. The Las Vegas hotspots are part of a 300,000 nationwide hotspot network being offered by the communications company through a collaboration … [Read more...] about Around the State: January 2015
What to Expect from Carson City in 2015:Republican Sweep Creates New Opportunities for Policy Reforms
The November wave that swept Republicans to victory not only solidified their control of the governor’s mansion but also saw them capture both chambers of the Nevada Legislature for the first time in 85 years. So now what? In the lifetime since Republicans last controlled the legislative process, liberal policies, decade after decade, have generated many problems for the … [Read more...] about What to Expect from Carson City in 2015:Republican Sweep Creates New Opportunities for Policy Reforms
Red Report: January 2015
E Sale, Industrial ADDRESS 6070 Boulder Hwy, 89122 BUYER Frederic and Barbara Rosenberg Family Trust SELLER Burton-Bowels LLC DETAILS 6,400 SF; $885,000 APN 161-27-311-011 BUYER’S REP Bob Diamond of Platinum Real Estate Professionals SELLER’S REP Neil Sorkin of Cushman & Wakefield Commerce N Sale, Industrial ADDRESS 3355-3675 W. Cheyenne, Ave., 89032 BUYER BKM … [Read more...] about Red Report: January 2015
Retail Summary: Third Quarter 2014
Southern Nevada In the third quarter of 2014, the Las Vegas retail market reported a vacancy rate of 9.1 percent. The latest period represents a decline of 0.1 percentage point compared to the prior quarter (Q2 2014). Compared to a year ago (Q3 2013), the retail vacancy rate has declined 0.3 percentage points. Anchored retail space has now reported annual declines in vacancy … [Read more...] about Retail Summary: Third Quarter 2014
Business Indicators: January 2015
The “second” estimate for third quarter 2014 shows U.S. real gross domestic product increasing at an annualized rate of 3.9 percent, higher than the 3.5 percent growth initially reported. In the revision, personal consumption expenditures and nonresidential fixed investment increased more than previously estimated, while private inventory investment decreased less. Residential … [Read more...] about Business Indicators: January 2015
Around the State: December 2014
Board of Regents Announce UNLV President Nevada’s Board of Regents have announced their selection for the next president of the University of Nevada, Las Vegas as Dr. Len Jessop. Replacing Neal Smatresk who was appointed in 2009, Dr. Jessop was selected after a national search and is currently the dean of the Eller College of Management at the University of Arizona. Dr. Jessop … [Read more...] about Around the State: December 2014
Medicaid Expansion Pressures Nevada’s Poor, Doctors, State Budget
Addition of 281,000 to state dole creating long waits for doctor openings Last year, almost 25,000 Nevadans found their health plans canceled, thanks to the so-called Affordable Care Act. The ACA also caused a dramatic increase in the price of individual insurance plans — with Nevada having the largest premium increases in the entire country, according to a national study … [Read more...] about Medicaid Expansion Pressures Nevada’s Poor, Doctors, State Budget