Although the office market in Nevada has been battered by rising construction costs and a high interest-rate environment, experts agree that Class A properties offering the right combination of lifestyle amenities and desirable locations can be successful in this challenging market. Defying the odds by adjusting to market conditions is what successful office developers have … [Read more...] about Nevada’s Office Market
Building Nevada
Retail ReinventedThe Changing Face of Commercial Real Estate
Retail is a world that constantly reinvents itself to appeal to newer generations, the latest trends or a fluctuating economy. Today the retail world is completely different than it was at the turn of the century, and that retail was different than the one that came twenty years prior. The last decade has seen consumers begin to climb out of a recession only to be thrust into a … [Read more...] about Retail Reinvented
Safe and SoundMaintaining Worksite Safety
Type “lunch atop a skyscraper” into a web browser and a photo of eleven construction workers unharnessed and enjoying a lunch break hundreds of feet above Manhattan will pop up on the screen. While staged as part of a publicity program, this photo attests to the fact that, in the past century, safety regulations have changed. Today, builders, contractors, subcontractors, … [Read more...] about Safe and Sound
EntitlementsWho Knew?
Who knew entitlements and zoning could be so fascinating? As cities sprawl and skyscrapers gaze across the masses, each park with barking dogs and running children, every industrial complex with the makings of tomorrow’s packages, and every home where mothers hum lullabies all begin with entitlements and zoning. An entitlement is the process of obtaining a … [Read more...] about Entitlements
Home Sweet Custom HomesGrowing Nevada’s Custom Home Market
The luxury home market in Nevada faced a slowdown in 2022 as the Fed raised interest rates seven times during the year and the word "recession" was used too often for some buyer's comfort. Some developers didn't even want to call it a slowdown–it was more of a pause. Because even with an uncertain market, Nevada continues to grow, and Nevada's custom home market … [Read more...] about Home Sweet Custom Homes
Space Available?Update on Land in Nevada
Nevada has seen tremendous growth in the past two years with more than 150,000 people becoming Nevadans. As more and more people move into the state it has caused industrial developers to see increased opportunity. More than half of Nevada’s land belongs to the state and is managed by the Bureau of Land Management (BLM). But, in the last decade that amount has gone from 87 … [Read more...] about Space Available?
Entertainment VenuesAdding Hosting to Tourism
For much of Nevada’s history, the state has been a tourist destination. From the time Virginia City was an internationally known hot spot to the modern global sensation that is Las Vegas, visitors have flocked to the Silver State to take in its entertainment. Now, as the COVID-19 pandemic relinquishes its squeeze on tourism across the globe, Nevada’s prime economic driver is … [Read more...] about Entertainment Venues
Industrial MarketWhat Goes Up, Must Come Down
Nevada’s industrial sector has been the hottest of all market segments statewide. Due in large to Nevada’s reputation of being business friendly, more companies are looking to move to the Silver State. And with a high demand for warehouses of any and all sizes, low vacancy rates and extensive preleasing activity, industrial development in Nevada has remained strong even in … [Read more...] about Industrial Market
Strategic Planning for the Silver StateEconomic Development and Utilities
Despite a global pandemic that had many quarantined to their homes, the Southwest has seen a large increase in population over the last several years. Nevada in particular has become a choice spot for business relocation, especially from neighboring states like California that are buried in bureaucratic red tape. And while an increased workforce bodes well for economic growth … [Read more...] about Strategic Planning for the Silver State
Multifamily in NevadaDemand in Flux
The past few years saw Nevada multifamily housing demand skyrocket as inbound migration came and the single-family housing market was white hot. The U.S. multifamily market continues to be greatly in need of more units, and while the Las Vegas market has dropped a bit in terms of national markets, Nevada is also in desperate want of more developments. According to the … [Read more...] about Multifamily in Nevada
A New Design FlowArchitects in Nevada
As the pandemic altered a variety of industries and how people live, work and play, the architecture industry is now making its own adjustments. Industry needs are shifting, work habits are changing and economics are becoming more challenging following two years of a pandemic. While certain aspects of the industry changed, other parts remain the same. “It’s had a … [Read more...] about A New Design Flow
Back to the OfficeNevada’s Office Market 2022
Nevada's office market was hit hard by the 2008 recession, when often companies expecting to expand instead contracted and downsized their use of office space. Office product was vacated or underutilized. Vacancy rates jumped. New product stood empty. In the last 12 years, there's been very little new product under construction. Fast forward to today, when the office market … [Read more...] about Back to the Office
Conventions in NevadaHeaded Back Up
COVID impacted nearly every market in Nevada, but few were hit as hard as the convention market. As medical experts and politicians preached the necessity of social distancing, the world entered a season “at home” where work and school were done remotely, and conventions became virtual at best or were cancelled entirely. The effect of cancelled conventions in Nevada impacted … [Read more...] about Conventions in Nevada
Then and NowCommercial Developments in Nevada
Nevada is growing, with the in-migration of both residents and businesses, and the concentration of new industry in metro areas. As population and industry grow, the economy remains cyclical, ups and downs balancing each other out. Industries grow and contract, according to demand. During the pandemic, the need for office space dropped significantly, while the need for … [Read more...] about Then and Now
High-View LandscapesCommercial Real Estate Developments in Nevada
The economic climate in the United State, and the globe, is leaving many professionals scratching their heads. A lot of indicators suggest the economy might be slowing and could even be entering a recession. Those indicators, however, are telling a different story than a lot of previous economic downturns. Companies for instance are in desperate need of employees, … [Read more...] about High-View Landscapes