E Project, Multi-Family ADDRESS 5625 S. Hollywood Blvd., 89142 DETAILS The Tempo Senior Apartments recently opened. Ovation Development Corporation and Accessible Space, Inc. (ASI) co-developed the 101-unit affordable senior rental development located in Sunrise Manor. The Mediterranean-style residences feature 60 one-bedroom units. The community space includes high … [Read more...] about Red Report: December 2014
Monthly Editorial Departments
Office Summary: Third Quarter 2014
Southern Nevada The Las Vegas office market vacancy rate fell to 24.8 percent in the third quarter of 2014. Compared to the prior quarter, vacancies fell 0.4 percentage points. Meanwhile, the vacancy rate is down 0.7 percentage points compared to a year ago. While the office market vacancy rate remains significantly higher than its industrial and retail counterparts, it has … [Read more...] about Office Summary: Third Quarter 2014
Business Indicators: December 2014
The “advance” estimate for third quarter 2014 shows U.S. real gross domestic product increasing at an annualized rate of 3.5 percent, lower than the 4.6 percent growth experienced in second quarter 2014. Personal consumption expenditures, nonresidential fixed investment, residential investment, federal government spending and state and local government spending made positive … [Read more...] about Business Indicators: December 2014
November 2014: Around the State
Union Village Breaks Ground One of the world’s first integrated health villages, Union Village, has broken ground in Henderson. The Valley Health System has partnered with Union Village, LLC to create a master-planned hospital complex and health center that combines residential components, entertainment and retail, a senior community and a civic and culture arts center. The … [Read more...] about November 2014: Around the State
What Should “Revenue Reform” Look Like?
State Tax system could be Stabilized and Improved with Broader Consumption Tax Calls for “revenue reform” have long emanated from Carson City, where state lawmakers have complained that Nevada’s current tax code is outdated and no longer capable of supporting critical public services. Most often, these calls for “revenue reform” have served as little more than a euphemism for … [Read more...] about What Should “Revenue Reform” Look Like?
Nevada Real Estate & Development Report: November 2014
N Sale, Office ADDRESS 6624 Sky Pointe Dr., 89131 BUYER WDG 6624 Sky Pointe, LLC SELLER 2010-1 RADC/CADC Venture, LLC DETAILS ; $315,000 APN 125-21-710-014 REP (Both) David Howes of David Howes Commercial Real Estate Lease, Retail ADDRESS 8350 N. Decatur Blvd., 89031 TENANT Spartan Arms and Range Supplies LLC LANDLORD Decatur Horse LLC DETAILS 4,000 SF; $163,200 … [Read more...] about Nevada Real Estate & Development Report: November 2014
Industrial Summary: Third Quarter 2014
Southern Nevada In the third quarter of 2014, the Las Vegas industrial market vacancy rate reached single digits for the first time since the fourth quarter of 2008. The rate fell to 9.3 percent during the period, which is down 0.8 percentage points from the prior quarter (Q2 2014). Compared to a year ago, industrial vacancies have declined 3.4 percentage points. The Las Vegas … [Read more...] about Industrial Summary: Third Quarter 2014
Business Indicators: November 2014
The “third” estimate for second quarter 2014 shows U.S. real gross domestic product increasing at an annualized rate of 4.6 percent, slightly higher than the 4.2 percent growth reported in the “second” estimate. The revision was due to the increases in nonresident fixed investment and exports being larger than previously estimated. U.S. nonfarm employment experienced robust … [Read more...] about Business Indicators: November 2014
Minimum-Wage Hikes: The Path to Poverty for Poor People
Presumably, State Senator Tick Segerblom thinks his proposal to increase the minimum wage to $15-per-hour in Nevada would be beneficial. After all, it sounds appealing to double the pay of fast-food workers and other entry-level workers with one wave of the government’s mandate wand. As businessmen and women know firsthand, however, there’s a big difference between good … [Read more...] about Minimum-Wage Hikes: The Path to Poverty for Poor People
October 2014: Around the State
Nevada Mining Association Seeks Successor For Long-Time President Tim Crowley, president of the Nevada Mining Association (NMA), has announced his intention to start a public affairs firm, Crowley & Ferrato Public Affairs (C&F). Crowley has reached an agreement with NMA to stay on temporarily as they search for his replacement. C&F is a partnership between Crowley … [Read more...] about October 2014: Around the State
Nevada Real Estate & Development Report: October 2014
E Sale, Multi-Family ADDRESS 2850 E. Bonanza Rd., 89101 BUYER Westland Real Estate Group SELLER Hayman Advisors DETAILS 344 units; $14,875,000 APN 139-25-404-002 REP (both) Art Carll, CCIM of NAI Vegas Lease, Office ADDRESS 2490 Paseo Verde Pkwy, Ste 100, 89052 TENANT Bodyspa Salons LANDLORD Flex 2 Buildings 3/4, LLC DETAILS 15,906 SF; $1,913,418 for 87 … [Read more...] about Nevada Real Estate & Development Report: October 2014
Retail Summary: Second Quarter 2014
Southern Nevada The Las Vegas retail vacancy rate reported a slight increase in the second quarter of 2014. The rate rose 0.1 percentage point compared to the prior period (Q1 2014) to 9.1 percent. However, compared to a year ago, the retail vacancy rate remains down 0.7 percentage points. Since the high of 11.1 percent reached in the third quarter of 2010, vacancies have … [Read more...] about Retail Summary: Second Quarter 2014
Business Indicators: October 2014
The “second” estimate for second quarter 2014 shows U.S. real gross domestic product increasing at an annualized rate of 4.2 percent, slightly higher than the 4.0 percent growth first reported. The revision was due to the increase in non-resident fixed investment being larger than initially estimated. Personal consumption expenditures, changes in private inventories, … [Read more...] about Business Indicators: October 2014
An Educated Workforce Begins with Empowered Parents
Study Offers 33 Ways to Boost Nevada Students’ Achievement with No Net Increase in Spending One of the most dangerous phrases in the English language is, “Because we’ve always done it this way.” It’s a phrase that could cost a company millions of dollars in missed opportunities. But what if someone said it about a child: “She’s not doing well in school, but nothing will … [Read more...] about An Educated Workforce Begins with Empowered Parents
September 2014: Around the State
Nevada Health Care Association Announces Restructuring Leadership at the Nevada Healthcare Association (NVHCA), which was established in 1974, has announced plans to restructure the organization into two divisions: the NVHCA and Nevada Assisted Living Centers (NVALC). The move is a direct result of NVHCA’s membership expansion which increasingly includes more assisted living … [Read more...] about September 2014: Around the State