The Nevada real estate market is no novice to change. From the impact of the Great Recession that resulted in an influx of foreclosures, to the effects of the COVID pandemic that are being felt throughout the country, the housing market in Nevada has proven to be resilient. Currently, the Nevada market is experiencing a significant lack of supply in the face of overwhelming … [Read more...] about Residential Nevada
Building Nevada
Medical FacilitiesBuilding Trends Post-COVID
All eyes have been on the healthcare industry in light of the recent COVID pandemic. And while there was a significant push for telehealth medicine where patients could schedule virtual visits with their doctor in order to maintain social distancing protocols, patients are now vying to see their doctors face-to-face. Consequently, there is a growing need for medical space. And … [Read more...] about Medical Facilities
The Rise of Experiential-Based Retail in NevadaChallenges and Opportunities
It’s no secret that the face of retail has changed significantly over the past 10-plus years. Gone are the days of cluttered clothing racks, the pandemic made online shopping boom. But don’t discount brick-and-mortar businesses just yet. In-store shoppers want something more than traditional retail, and developers are thinking creatively about how to get people on their … [Read more...] about The Rise of Experiential-Based Retail in Nevada
Transportation in NevadaChallenges and Opportunities
Supply chain issues have dominated headlines in 2022. Everything everywhere seems to be backordered, backlogged, or just unavailable. But what’s broadly referred to as supply chain issues are often labor shortages, manufacturing shortages and even shortages of trucks and trailers necessary to transport everything. Sometimes supply chain issues are really logistics … [Read more...] about Transportation in Nevada
Multifamily in NevadaDemand Outspaces Supply
Nevada continues to be one of the fastest growing states in the nation. The downside to population growth is the inability of the multifamily commercial real estate market to keep up with demand for space, leading to rising rents and increased values for buildable land. “From a housing perspective, apartments, condos and housing, right now there is a significant shortage of … [Read more...] about Multifamily in Nevada
New Users and UsesIndustrial Commercial Real Estate in Nevada
“Industrial real estate across the country is doing extremely well right now. Las Vegas is out performing, but it’s not exclusive to Las Vegas,” said Garret Toft, executive vice president, industrial, CBRE. “We’re seeing a period of very strong demand from tenants and users at a time where we’ve been developing quite a bit of industrial. But, demand is outpacing [supply] and … [Read more...] about New Users and Uses
Nevada UtilitiesGrowth Continues Amid COVID, Cybersecurity Concerns
A recent cyberattack on the Delta-Montrose Electric Association (DMEA) in Colorado that shut down 90 percent of its internal controls and erased 25 years of historical data is a reminder for Nevada utility companies that bad actors are constantly targeting their infrastructure. It also comes at a time when these companies are experiencing increased demand for service as the … [Read more...] about Nevada Utilities
Architects and EngineersDesigning Nevada’s Future
Construction was one of the industries considered essential during the pandemic shutdown in spring 2020. That included architects and engineers, who social distanced, worked remotely and wore masks, but kept working. That doesn’t mean the pandemic didn’t affect these industries. Both fields were already changing when COVID hit. Like it did for many industries, the pandemic … [Read more...] about Architects and Engineers
Back in the BuildingsProperty Management in Nevada
Nevada is quickly approaching the two-year mark since the beginning of the COVID-19 pandemic. From government mandates, social distancing, supply delays and a staffing crisis nationwide, business in the Silver State has had to adapt and change. Many industries were hit hard by these changes, including property management. But, in post-COVID Nevada, the industry is on its way … [Read more...] about Back in the Buildings
A Tale of Two CitiesRetail Commercial Real Estate in Nevada
“Retail commercial real estate (CRE) in Nevada is a tale of two cities, really,” said Chris Richardson, CCIM, director, Logic Commercial Real Estate. “On the one hand, I have never seen such demand for new drive-through restaurants in good areas. It seems like everyone is expanding and some quick serve restaurants that never incorporated drive-through before are starting to … [Read more...] about A Tale of Two Cities
A Place to Call HomeNevada’s Residential Housing Market
In southern Nevada, between 13,000 and 14,000 new home permits have been pulled in 2021, up 11 percent from 2020, said Nat Hodgson, CEO, Southern Nevada Home Builders Association (SNHBA). “We thought we were going to get about the same as last year, so an 11 percent increase when we were factoring zero is pretty good. We’re actually tracking over 14,000 right now, but I don’t … [Read more...] about A Place to Call Home
Safety on the JobResponsibilities on Site
Construction as an industry, including commercial real estate construction, is subject to safety rules and regulations from federal and state agencies. Federal requirements are implemented by the Nevada version of OSHA – the Occupational Safety and Health Administration, which operates under the U.S. Department of Labor. Nevada’s state-level OSHA is administered through the … [Read more...] about Safety on the Job
Commercial Real Estate FinancingNavigating a Post-Pandemic Market
Fickle – that’s one word to describe the commercial real estate market as the COVID-19 pandemic winds down and the accompanying economic development downturn looks likely to take 18 to 24 months to resolve. For individuals or companies wanting to buy or build commercial real estate (CRE) properties, there’s money available – for the right person, with the right deal … [Read more...] about Commercial Real Estate Financing
A Year of ChangesEngineering in Nevada
As 2020 kicked off, many firms across the commercial real estate engineering industry were poised for their best year ever. The Nevada economy was healthy, with growth across most industry sectors as new and expanding businesses created new development projects that required commercial real estate (CRE) engineering services. Metro areas were busy with private development and … [Read more...] about A Year of Changes
Under ConstructionTransportation Projects are in the Pipeline
So much transportation-related construction will be underway in Nevada this year that one of the most closely watched initiatives is one that puts technology to use to reduce the frustrations faced by motorists stuck in construction delays. Several of the state’s most-traveled intersections — the Centennial Bowl and the Interstate 15 Tropicana Avenue interchange in Las Vegas, … [Read more...] about Under Construction