Las Vegas Market While a cooling housing market has led to a modest decline in retail sales growth in the Las Vegas Valley, tenant demand for anchored retail properties remained high, evidenced by tight market conditions and solid rent growth. Construction activity was high with 417,000 square feet of new retail space added in the third quarter 2007, increasing the Valley’s … [Read more...] about Retail Market Summary: 3rd Quarter 2007
Departments
January 2008: Business Indicators
The Nevada and U.S. economies enter 2008 facing the headwinds of the housing slowdown, uncertainties in credit markets, and a general malaise about the future. Though consumer and business confidence has dropped, the most recent indicators are mixed, but not depressing. On the contrary, employment levels are higher than the same month a year ago for the U.S., Nevada, Las Vegas, … [Read more...] about January 2008: Business Indicators
Robert Leidig Jr.: Oakview Construction, Inc.
Regional Director Las Vegas Years in Nevada: 20 Years with Firm: 6 Type of business: Commercial General Contractor Biggest Business Challenge: Managing reasonable growth in an aggressive construction market. What do you like best about your job? I enjoy the challenges of day to day issues, as well as knowing that no two days are ever the same. If you … [Read more...] about Robert Leidig Jr.: Oakview Construction, Inc.
January 2008: Nevada Briefs
SNWA Enhances Rebate Community residents and businesses who qualify for Southern Nevada Water Authority’s (SNWA) Water Smart Landscapes Rebate Program will receive $1.50 for each square foot of grass they replace with water-efficient landscaping. The SNWA board of directors approved the new incentive levels as a way to continue achieving the community’s long-range water … [Read more...] about January 2008: Nevada Briefs
December 2007: Business Indicators
The U.S. and Nevada economies continue adjusting to housing problems. Nationally, housing starts are off 30.8 percent September 2007 from the same month a year earlier. Reno shows a similar sharp drop with permitting down 40.1 percent. Las Vegas, on the other hand, shows a jump in permitting. This is an unsustainable increase as the abundant supply of unoccupied units will take … [Read more...] about December 2007: Business Indicators
December 2007: Nevada Briefs
TelePacific Expands Service TelePacific Communications, a business telecommunications network solutions company, started offering its services to small and medium-sized companies in Reno. The expansion means the company will now provide service to every metropolitan area in Nevada and California. This expansion will allow the company to offer a variety of telecommunications … [Read more...] about December 2007: Nevada Briefs
December 2007: Business Up Front
Mortgage Sub-Prime Crisis Examined As Congress scrambles to fix the sub-prime crisis that plunged mortgage lenders into bankruptcy and homeowners into trouble, a new report by the Competitive Enterprise Institute explains why Congress should not get involved. The report comes in advance of a likely vote in the House of Representatives on the Mortgage Reform and Anti-Predatory … [Read more...] about December 2007: Business Up Front
Office Market Summary: 3rd Quarter 2007
Las Vegas Market According to the Nevada Department of Employment, Training and Rehabilitation, 230,600 office-related jobs were recorded in September 2007, an increase of 4,000, or 1.8 percent, from September 2006. The office market is showing signs of transition. Rents have been stable at $2.51 to $2.52 per square foot for the past three quarters. Net absorption is down … [Read more...] about Office Market Summary: 3rd Quarter 2007
December 2007: Face to Face
Mary LaMeres-Pomin Co-Founder and Co-Chief Executive Officer Assist-2-Sell, Reno Years in Nevada: 40 Years with Firm: 20 Type of business: Residential Real Estate Company Biggest Business Challenge: Taking a new concept like “full-service discount real estate” and launching it nationwide. What do you like best about your job? Watching our franchise … [Read more...] about December 2007: Face to Face
November 2007: Business Indicators
The midyear indicators remain generally positive. To be sure, a number of indicators point to slowing rates of change. And a few, in particular housing, generally show marked weakness in comparison with indicators in 2005 and early 2006. One indicator showed a big jump. Las Vegas residential permitting jumped from 925 in July to 2,388 in August; a one-month increase in … [Read more...] about November 2007: Business Indicators
November 2007: Nevada Briefs
Expanding Radiation Capabilities Nevada Cancer Institute’s Radiation Oncology Department received accreditation by the American College of Radiation Oncology (ACRO) and began treating patients with its TomoTherapy Hi-Art treatment system in September. The prestigious ACRO accreditation is achieved only by a small percentage of departments across the country. NVCI is accredited … [Read more...] about November 2007: Nevada Briefs
November 2007: Business Up Front
Personal Relations Still Rules The business world is changing to incorporate technology into day-to-day interactions, meaning that managers must remain on top of the newest innovations while encouraging workers to maintain connections on a personal level. Peter Handal, president, chairman and CEO of Dale Carnegie Training said technology can be an effective tool to enhance … [Read more...] about November 2007: Business Up Front
Industrial Market Summary: 2nd Quarter 2007
Las Vegas Second quarter 2007 industrial-related employment was up from Q2, 2006, indicating continued growth in demand for industrial space in the Las Vegas Valley. According to the Nevada Department of Employment, Training and Rehabilitation, 171,300 industrial-related jobs were recorded in June 2007, a net increase of 800, from June 2006. The Las Vegas Valley’s speculative … [Read more...] about Industrial Market Summary: 2nd Quarter 2007
Patrick Egan
Reno Years in Nevada: 37 Years with Firm: 10 Type of business: Commercial real estate brokerage, with a focus on multi-family and investment property. Biggest Business Challenge: Our transactions tend to have a lot of moving parts – scheduling inspections for buyers, appraisers and lenders, as well as third party groups, verifying financial information which … [Read more...] about Patrick Egan
October 2007: Business Indicators
It could not last-and, it did not. The push toward increased home ownership, an admirable objective, came with a host of relaxed credit standards; generally referred to as subprime mortgages. Innovative, but relaxed credit standards, abundant funding augmented from expanding global sources; and a rush for quick returns triggered by some early highly profitable events set off a … [Read more...] about October 2007: Business Indicators