Northern Nevada By Colliers Reno The Reno/Sparks office market got off to a slow start in the first quarter of 2020, and unfortunately must expect weaker performance as we deal with Nevada business closures. Reno/Sparks office vacancy increased to 10 percent, a 0.2 point increase from one quarter ago, but a 2.4-point decrease from one year ago. Net absorption was negative … [Read more...] about Commercial RE Report
Departments
Business IndicatorsJune 2020
The “advance” estimate of U.S. real gross domestic product (GDP) for the first quarter of 2020 fell by 4.8 percent at an annual rate, the steepest drop since 2008 Q4. The sharp decline reflected the nearly stalled economy due to the COVID-19 pandemic that started in mid-March as state governments issued stay-at-home orders. U.S. nonfarm employment experienced a record … [Read more...] about Business Indicators
Last WordWhat is your Favorite Movie?
Ryan Bowen OwnerLa Paloma Funeral Service “When I was 12, my grandma took me to see ‘Raiders of the Lost Ark’. It was the first movie I can remember going to see indoors, and I was immediately transported to another world.” Tracey Oliver Executive DirectorSierra Arts Foundation “’Midnight in Paris’. Who doesn’t need brilliant artists right now? After all, … [Read more...] about Last Word
The Decision to ‘Re-Open’ the Economy Shouldn’t be Government’s to Make
Destroying the financial hopes and dreams of thousands of Nevadans should have never been seen as the only way to combat a pandemic. And given the depth of the financial harm this shutdown has caused, getting people back to earning a living should, at this point, be considered equally as important as containing the spread of the virus. After all, the cost of the shutdown … [Read more...] about The Decision to ‘Re-Open’ the Economy Shouldn’t be Government’s to Make
George Garcia
Founder, GC Garcia, Inc. Type of Business: Planning & Development ServicesBased: Henderson, NVHails from: Chicago, IL Years Co. has been in Nevada: 25Years with Company in Nevada: 25Employees with Company: 7 What was your first job? Washing dishes in an all-you-can-eat restaurant. What career advice would you give to your teenage self? Find what … [Read more...] about George Garcia
Around the StateMay 2020
Students in Need of Technology According to the Public Education Foundation, as many as one-third of the 320,000 families In the Clark County School District (CCSD) lack access to computers, the internet or their teachers. The CCSD estimates that approximately 120,000 Chromebooks are needed for students participating in distance learning. Recently a Las Vegas-based software … [Read more...] about Around the State
Commercial RE ReportIndustrial Summary: First Quarter 2020
Northern Nevada By CBRE Reno Strict stay-at-home orders due to the COVID-19 pandemic are leading the U.S. economy into a recession with a very sharp GDP decline in for Q1 2020. However, the unique nature of this downturn could result in an unusually swift economic recovery that may begin as early as Q3 2020. Prior to the pandemic, the Reno industrial market began to … [Read more...] about Commercial RE Report
Business IndicatorsMay 2020
The “third” estimate of U.S. real gross domestic product (GDP) for the fourth quarter of 2019 rose at an annual rate of 2.1 percent. U.S. nonfarm employment lost 701,000 jobs in March with a notable decline of 459,000 jobs in the leisure and hospitality sector. Since these figures are based on the first two weeks of March, they only reflected the early effects of the … [Read more...] about Business Indicators
Last WordHow Do You Stay Productive While Remote Working?
Lora Fudale CEO and PresidentFudale Destination Management “Establish a morning routine and stick to it! Simply making yourbed entices you to accomplish more during the day. Designate a separate workspace to minimize distractions and stay focused.” Rick Benbow Regional Vice PresidentWGU “Keep your routine of getting ready for work; find a space in your home … [Read more...] about Last Word
Speaking for NevadaSave Lives: Get Nevada Back to Work
The coronavirus outbreak has unleashed unimaginable fear and heartbreak upon our country and the world. At the beginning of this crisis, each of us worried that either we or those close to us would get sick. That concern remains today, and justifiably so. No one wants to suffer or see our loved ones suffer. That concern also includes not wanting to endure the financial pain … [Read more...] about Speaking for Nevada
Government Might Not be Up to the Challenge — but Individuals Are
If you get the sense that government is not up to the challenge presented by a public health crisis, and the economic fallout that results from it, you’re probably right. That’s because government is, at its core, a political enterprise—and as most Americans will readily admit, bickering politicians aren’t generally the best at getting things done in an effective and efficient … [Read more...] about Government Might Not be Up to the Challenge — but Individuals Are
Paul Stowell
Nevada Regional Executive, City National Bank Type of Business: Banking and FinanceBased: Las Vegas, NVHails from: Livermore, CA Years Co. has been in Nevada: 13Years with Company in Nevada: 20Employees (locally) with Company: 55 “Be the change you want to see in the world.” What was your first job? I worked on a dairy farm at age 13. Who in your life has … [Read more...] about Paul Stowell
Around the StateApril 2020
Census 2020 Available Online April 1 is Census Day in the United States. The Census 2020, which is open now, can be completed online and is open to all Nevada residents. Every 10 years, the federal government conducts a count of the U.S. population to calculate the distribution of federal funds to states. In Nevada, this impacts over $6 billion in federal funds. The count is … [Read more...] about Around the State
Commercial RE ReportRetail Summary: Fourth Quarter 2019
Northern Nevada By Dickson Commercial Group The fourth quarter posted the highest dollar volume by almost two times for the year with $87.14 million in sales volume over 22 transactions. Both were highs for the 2019 quarter by quarter. The most notable sale was the 10 building Sparks Galleria disposition, which accounted for roughly half of the quarter’s volume. The … [Read more...] about Commercial RE Report
Business IndicatorsApril 2020
The “second” estimate of U.S. real gross domestic product (GDP) for the fourth quarter of 2019 matched the “advance” estimate, growing at a robust 2.1 percent annualized rate. According to more complete source data, private inventory investment was revised upward, which was offset by a downward revision of nonresidential fixed investment. Overall, consumer and government … [Read more...] about Business Indicators