NAIOP Southern Nevada’s Bus Tour Committee is proud to present the 2024 “NAIOPOLY” Bus Tour. Let the games begin! We look forward to continuing the storied tradition of the NAIOP Bus Tour in our virtual format. Even with some economic issues on the national front, the southern Nevada real estate market has continued to show signs of strength with continued new development across the valley.
Las Vegas commercial real estate development continues to reach new heights with our local economy becoming one of the hottest destinations for sports and entertainment. On the demand side, we continue to see new players enter the market and plant their flag in our ever-changing real estate game. The continued success in the region is only heightened by developers working closely with our chapter’s architects, engineers, contractors, brokers and other consultants and service providers to realize market opportunities. These combined efforts will continue to play an important role in recruiting new businesses and jobs to southern Nevada, supporting the sustainability and allowing us to continue to diversify our local economy.
We have an amazing CHANCE to present 57 industrial, office and retail projects on our tour this year that have been completed recently or are actively under construction. The Bus Tour Committee’s goal for this event is to showcase these exciting new developments for our members and generate awareness about the viability of new developments in the Las Vegas market. We sincerely thank the NAIOP Board of Directors, the Bus Tour Committee members and all of the NAIOP member sponsors and advertisers who make this event possible. Without your time, efforts and resources, we would not be able to put on such an important event. `
Pass GO, collect your $200 and welcome to the NAIOP Southern Nevada 2024 “NAIOPOLY” Bus Tour! We thank you for your attendance as we celebrate the next chapter in southern Nevada’s development.
The Northwest Submarket is encompassed by the 215 Beltway to the west, east along US-95 and Rancho Dr., Charleston to the south and everything north in between those boundaries. As of Q2 2024, this market consists of nearly 4.8 million SF of office space, which represents 13% of the total office space tracked in the Las Vegas Valley. The second quarter shows a 17.2% vacancy rate in this submarket, up from 16.8% this time last year. This primarily has to do with a full-floor law firm vacating at Montecito Tower and two large spaces vacating at Tivoli Village. The Northwest Submarket is fairly constrained on vacancies below 4,000 SF.
Leasing rates in the Northwest Submarket currently average $2.83 PSF FSG and $3.13 on Class A office space and have increased 3% since last year. As the market has gotten tighter in the Class A space and the “flight to quality” continues, rents are increasing on trophy properties with nearby amenities.
The office market for 2024 remains at a steady pace of activity. There has been little drop off from last year’s volume and not a lot of change on the horizon is expected. Tenants are constantly evaluating their size needs and efficiencies to maximize use of their space, while still working through hybrid scheduling. Construction costs have leveled off but are still well above what tenants were seeing a few years ago. The Northwest Submarket, particularly the Centennial area, is extremely tight with minimal smaller vacancies and no planned development.
the West Submarket, a well-established commercial district encompassing approximately 7.6 million square feet of office space, is strategically located within the Las Vegas Valley, bordered by Rainbow Boulevard to the west, I-15 to the east, US-95 to the north, and Tropicana Boulevard to the south.
This thriving area is poised for further growth with the development of Meridian, a new 152,300-square-foot office campus by Howard Hughes Holdings. Situated within the master-planned community of Summerlin, Meridian offers modern amenities, a fitness center, and proximity to the vibrant Downtown Summerlin. Designed to accommodate a diverse range of businesses, the campus is expected to attract companies from various industries.
In addition to office space, the West Submarket is evolving into a hub for entertainment. Howard Hughes Holdings and Sony Pictures are collaborating on Storyteller Studios, a state-of-the-art facility featuring sound stages, creative offices, and production facilities. This project aims to capitalize on the burgeoning demand for content creation driven by the streaming industry.
Despite recent market fluctuations, the West Submarket remains a desirable location for businesses. According to CBRE, the direct vacancy rate in the area stands at 9.4%, with a direct availability rate of 11.5% as of Q2 2024. While the average direct asking lease rate has declined slightly to $2.60 per square foot per month full-service gross, the submarket continues to show resilience.
the Southwest Submarket, located just south of the I-215 and Flamingo area and west of the I-15, is the second largest submarket, trailing only the Northwest Submarket. Over the past 2 years, the Southwest is the only submarket experiencing a significant amount of new development. The submarket is more than 8.5 million SF and, to date, 188,300 SF has been delivered to this region. In fact, this submarket consists of over 50% of office space delivered in Q2 2024 and overall, since Q1 2023, at close to 1.5 million SF.
With the new construction and the demand for office, the Southwest Submarket has continued to prove to be a desirable midpoint location for both Summerlin and Henderson residents. In fact, now many consider it to be “Main and Main” from an office perspective. Projects such as, UnCommons, Narrative, Axiom and Evora hold strong rents at an average lease rate of $3.61 PSF FSG. This has allowed other landlords, such as Howard Hughes Corporation, which has now completed Meridian East and West and other new projects such as Halo Tower, the ability to achieve strong rents in this desired premium Southwest Submarket. The submarket continues to command the highest lease rates in the Las Vegas Valley.
Similar to other disciplines vacancies have increased by 2% from Q1 2024 to 8.7% for Q2 2024. Overall vacancy rate and lease rates within the submarket have remained relatively steady compared to other submarkets. Sublease availability is at a low 1.2%. Due to the availability and condition of sublease space. This option allows a tenant to move-in quickly and operate their business immediately. Overall, the submarket has proven resilient as overall availability remains well below the Las Vegas Valley average.
The Southwest Submarket is one of only a few within the Valley that have continued interest from developers of all product types ranging from owner/user to corporate tenants from Class A mixed use projects to Class B office buildings to Class C, garden style for sale office product. It is the only area where there is action where both users and developers want to be.
the Southwest Submarket is one of the tightest vacancies consistently in the entirety of the Las Vegas industrial market. According to the latest reports of Q2 2024, the Southwest Submarket totals over 47.8 million SF of industrial space. The current vacancy rate within the Southwest Submarket totals 3%, Within the development pipeline we expect 1.7 million SF to complete within 2024 although some of that square footage could end up slipping into early 2025.
Lease rates within this area have remained strong and held their value simply because of the lack of larger infill sites to develop new products. The developments that are currently in the pipeline or under construction in the Southwest remain minimal in comparison to North Las Vegas with an estimated 1.3 million SF planned with year-to-date completion as of Q2 2024 totaling 900,000 SF. The Southwest Submarket has expanded slightly, with additional product off Blue Diamond.
Some of the current, under construction developments within the Southwest include West Sunset Industrial Park, a two building for sale or lease project totaling 79,721 SF by EBS and MCA. Oasis Commerce Center is a 422,000 SF industrial development located in the Blue Diamond area by Panattoni. Rainbow at Blue Diamond Logistics Park is a 256,490 SF, 4 building project being developed by EBS. Recently Phelan Commerce Center has put roofs on all buildings. This six-building project spans 525,548 total SF and is available for sale or for lease. Majestic Realty is finishing construction on their Arroyo Beltway Commerce Center project totaling over 764,000 SF with over 50% of the project having been pre-leased. There are a few, strictly for sale, products on the market currently, including Pioneer Sunset by Beedie condos ranging from 8K SF to 117,000 SF available and TECO Industrial with a 44,000 SF single tenant building.
the West Henderson industrial submarket, the southernmost in the Valley, is one of the region’s fastest-growing areas, driven by rapid expansion over the past 6-7 years. Spanning 6.8 million SF, this submarket is strategically located with direct access to the California border via I-15 and close proximity to Harry Reid International Airport and the Las Vegas Strip. This unique positioning has fueled exponential growth, transforming from a single industrial building (Levi Strauss at 638,365 SF) into a robust submarket with nearly 6.8 million SF. As of Q2 2024, vacancy sits at 12%. This is primarily due to two large distribution buildings being available; a standing 482,300 SF building owned by Ares (previously leased by Kroger) and a 330,720 SF building owned by Dermody, which recently completed construction in Q1 2024.
As of Q2 2024, West Henderson has experienced approximately negative 490,410 SF of net absorption due to the former Kroger-occupied building recently becoming vacant. Currently, there is 714,730 SF under construction with approximately 3.6 million SF planned. Of the 714,730 SF that’s under construction, 215,730 SF is scheduled to deliver in Q3 2024, and 499,000 SF is expected to deliver in Q4 2024.
Through the second quarter of 2024, 428,263 SF of new product has been delivered, with a total of 1.1 million SF expected by year’s end. Notable projects include EBS Realty Partner’s Henderson Gateway Industrial Facility (single freestanding building totaling 98,023 SF – 100% leased), Overton Moore’s Southern Gateway at I-15 (three buildings totaling 420,000 SF), and Golden Management’s West Henderson Industrial Center (single freestanding building totaling 77,664 SF). Despite being a relatively new submarket, West Henderson is nearing full capacity, with limited sites available for future industrial development. Until the City of Henderson releases additional sites, new projects are unlikely to enter the pipeline anytime soon.
the Henderson office market, spanning approximately 5.6 million SF across 281 buildings, is predominantly composed of Class B and C properties, with just 8 Class A buildings totaling around 583,668 SF. In Q2 2024, the vacancy rate dropped to 11.7% from 13% in Q1, while the average asking rate rose to $2.63 PSF FSG, up from $2.52 PSF FSG last year.
Owner-user sales continue to set record highs. The View at Seven Hills, featuring newly constructed owner-user condos, is priced between $325-$350 PSF for shell delivery. The Village at St. Rose is making progress, with Building 1 recently completing shell and core work on 100,000 SF of office. Building 2 is scheduled to break ground in December 2024 and will include a 100,000 SF building with ground floor retail and three stories of office above.
Significant lease transactions include Bergman Walls & Associates leasing 9,706 SF at 2360 Corporate Circle and Village Capital & Investment leasing 31,087 SF at 2460 Paseo Verde. In a notable acquisition, Intermountain Healthcare purchased a 48,882 SF building at 2350 Corporate Circle for $11.2 million ($229 PSF). Additionally, Woodside Health acquired 866 & 870 Seven Hills Drive in February for $9.5 million ($224 PSF).
West Henderson remains a hub of growth, driven by new retail and housing developments. Notable projects include the West Henderson Hospital, slated for completion Q4 2024. Additionally, a newly approved 180,000 SF indoor sports complex will provide sports and entertainment attractions to locals and visitors.
Henderson’s appeal for office users is enhanced by its convenient access to the 215 Beltway, proximity to amenities, and master-planned communities like Green Valley, Seven Hills, Anthem, MacDonald Highlands, Inspirada and Cadence. The Henderson office market continues to thrive, driven by strategic development and strong demand, reinforcing its reputation as a prime business location.
the East Henderson submarket, the original industrial area of Henderson, is situated around the intersection of I-215 and US 95. This submarket boasts approximately 15.1 million SF of existing industrial space, with an additional 1.6 million SF currently under construction and another 5.3 million SF planned for future development. Given its prime location with immediate access to major freeways, the Henderson submarket remains a competitive hub for both local and regional tenants seeking warehouse space. As of Q2 2024, vacancies currently sit at 2.4%, a slight increase from the 1% vacancy rate recorded in Q2 2023. In Q4 2023, Henderson experienced a notable net absorption of 527,172 SF, which is significant compared to the 2.9 million SF absorbed valley-wide year-to-date.
Due to the lack of available products in the Henderson submarket, there have been a limited number of new deals recently signed. With that being said, there are still deals getting signed including a 43,847 SF new deal at Overton Moore’s Warm Springs Commerce Center and a 136,174 SF new deal at Clarion’s South 95 Logistics. Through Q2 2024, Henderson welcomed 487,341 SF of new industrial space, including Clarion’s South 95 Logistics with four buildings totaling 405,344 SF and the first phase of LM Construction’s Nancy Jay Industrial Park with two buildings totaling 81,996 SF. Looking ahead, an additional 705,186 SF is expected in Q3 2024 and 800,897 SF in Q4 2024. Notable future completions include Becknell’s Becknell Galleria (672,223 SF across four buildings), Overton Moore’s Warm Springs Commerce Center (504,983 SF across six buildings), and Overton Moore’s Conestoga Commerce Center (192,666 SF across two buildings).
With limited land availability, few new projects are anticipated in the near future. However, with 1.6 million SF under construction and 5.2 million SF planned, the Henderson submarket will continue to offer substantial opportunities for tenants in this well-established and affluent area.
the Las Vegas Airport Submarket is highly sought after because of its central location and proximity to key attractions like the airport and the Las Vegas Strip. Although it is one of the smallest submarkets, at 15.8 million SF, it is still a top choice for businesses. Over the past year, the vacancy rate has decreased from 5% to 3.2%. This is likely because a few new projects have been developed in the area. Occupiers have absorbed roughly 37,820 SF of space year to date, taking advantage of the submarket’s convenient access to highways and amenities. As a result, the average rent has increased from $1.19 to $1.39 per SF.
Due to the high demand, landlords in the airport submarket have consistently raised lease rates. Smaller properties of 5,000 to 20,000 SF have seen rents from $1.20 to $1.45 PSF, while larger spaces of 21,000 to 50,000 SF rent for $1.10 to $1.35 PSF. The options are very limited, over 50,000, with only two available listings and guiding as low as $0.80 to as high as $1.40 PSF.
Placid Industrial’s project, developed by NewWest Company, is also nearing completion this year. This two-building project consists of two freestanding buildings, 25,000 and 27,815 SF. Both buildings were listed for sale and lease and are currently in escrow, scheduled to close prior to the end of the year. Additionally, a new 40,346 SF building developed by WG Group recently poured slabs and will be tilting walls next month.
Investors are attracted to the airport submarket, as seen by the recent acquisition of a property from MYD Real Estate, a local firm in town that purchased 6330 S. Pecos Road, a 45,241 SF grade level only multi-tenant flex building with an 8.33% cap rate. At the time of the sale, the property had an 88% occupancy rate. The airport submarket may face limitations for future development due to a lack of available land. Strong tenant demand is expected to keep the market tight, with low vacancy rates and high rental prices.
the Apex submarket, situated at the northernmost part of North Las Vegas and extending from the Las Vegas Speedway along I-15 to US Highway 93, is poised to be the next major hub for industrial development in the Las Vegas Valley. The Apex Industrial Park consists of approximately 7,000 acres (3,500 acres of flat/developable land) which will be able to accommodate nearly 55 million SF of industrial growth once fully built out.
This area has seen a tremendous amount of activity in the past year due to infrastructure making its way from the southern portion and pushing north. Over the next several years this infrastructure expansion will continue through northern Apex near the US 93, allowing for increased development opportunities. Infrastructure expansion was the catalyst behind Prologis’s acquisition of almost 900 acres in the Northern Apex area. This was the second largest land acquisition in the company’s history. There are currently several developments within the southern and central portion of the Apex submarket with more to follow. Major developers within the area include Dermody, CapRock, Moonwater, Northpoint, Prologis, VanTrust, EBS, and DHL. As of Q3 2024, 4.4 million SF has been delivered with 920,000 SF currently under development and another 21.5 million SF planned; this planned figure includes the 11 million SF Prologis has planned on the site they recently acquired as mentioned above. Apex has seen positive absorption of 1.04 million SF, which is just under 25% of total market absorption. The primary product type being constructed in Apex is bulk distribution that will accommodate 200,000 SF on up to 2 million SF. Rates in this area can range from $0.75 – $0.90 PSF NNN depending on the size. Due to the limited land availability within the Las Vegas Valley, future industrial growth in the Apex market will be seen for years to come.
the North Las Vegas Submarket is the largest submarket in the greater Las Vegas Valley consisting of roughly 73 million SF or 42% of the overall market and 60% of the distribution product type in Las Vegas. Southern Nevada, specifically North Las Vegas, remains one of the most active markets for e-commerce/logistics in the southwest region due to its proximity to the southern California ports, lower occupancy costs and quality labor pool.
North Las Vegas ended 2023 at a 1.3% vacancy rate with 3.2 million SF in net absorption (66% of the market’s overall absorption). As of Q2 2024, the vacancy rate sits at 6.6% with 1.6 million SF of net absorption YTD (69% of the market’s overall absorption). Rent growth is expected to remain flat through 2024 due to softening demand and a record amount of supply under construction. Estimated rates are as follows for the various product types: mid-bay (5,000 to 20,000 SF) is in the $1.10 – $1.25 PSF range; light industrial (20,000 to 100,000 SF) is in the $0.95 – $1.10 PSF range; and distribution (100,000 SF and above) ranges from $0.85 to $0.95 PSF.
In terms of new construction, North Las Vegas has 5.56 million SF under construction which makes up 53% of the total under construction pipeline within the Valley. There is an additional 2.95 million SF in the planned pipeline which is 15% of the total planned projects within the Valley. However, North Las Vegas alone makes up for 43.5% of all vacant space in the valley.
The Las Vegas/Henderson retail pad market is extremely active in 2024. Predominantly made up of quick service restaurant (QSR) drive-thrus, gas stations, car washes and taverns, the pad market has seen continued growth throughout the valley. Most of the consistent deal flow has taken place along St. Rose Pkwy. (Henderson), Blue Diamond Rd. (southwest Las Vegas) and Craig Rd. (North Las Vegas).
Lease rates will depend on the corridor, the use and whether it is a ground lease or built-to-suit deal. For the southern Nevada market, ground lease rates with no landlord contribution in the major growth corridors will range on average from $125,000 to just north of $200,000 annually in rent while built-to-suit deals with heavy landlord responsibilities/deliveries will be north of $225,000 annually in rent. Specific to the car wash use, deals are consistently in the $200,000 to $250,000 range for ground lease and coupled with permit contingencies that garner a higher rent payment in return for elongated approval timelines and milestones.
Cap rates for single tenant NNN deals that are new construction with corporate signatures are hovering in the 4.75 to 5.25% range thus far in 2024. Many of those trades are newly constructed 7-Eleven gas stations, Green Valley Grocery gas stations, Taco Bells, Starbucks and Dutch Bros Coffee.
Notable retail pad tenants, who are new to the market and making a splash include: Angie’s Lobster Rolls, First Watch breakfast, Bojangles, Whataburger, Better Buzz Coffee and car wash users like Quick Quack, Bliss and Clean Freak by Circle K. Brands that are already in the market and are continuing to expand via pad deals are Starbucks and Dardin brands. Las Vegas has homed in on becoming a market run on “convenience” and will continue to do so as drive-thrus prove to boost sale volumes for expanding brands.
North Las Vegas is continuing to heat up. The Village at Tule Spring master planned community has some new shopping centers in the works with a planned Smith’s Marketplace and a new Walmart Supercenter both planned at Revere & 215. It is exciting to see new anchored projects planned after several years of limited retail development beyond single tenant pad sites. There are two other major mixed-use developments coming to North Las Vegas – Gateway Village and Hylo Park.
Gateway Village will bring approximately 200,000 SF of retail in addition to medical office and office space to Downtown North Las Vegas. Hylo Park is the new mixed-use, 73-acre development coming to the site of the former Fiesta and Texas Station casinos. Hylo Park has pre-leasing well underway and will have a mix of residential, lodging, recreation/sports and retail.
Retail continues to follow residential growth in the Las Vegas Valley. West Henderson and Inspirada continue to add residents, and retailers are following. The St Rose corridor continues to have high demand with Boot Barn, Grocery Outlet and TJ Maxx planned to open at St Rose Square late this year or early next. St Rose will also see Chicken N Pickle open end of year. Inspirada has been one of the fastest selling master plans in the greater Las Vegas area and they are seeing new retail coming to support their growing community with Centurion @ Inspirada Town Center, a retail and multifamily project of over 23 acres with approximately 10 acres dedicated to retail adjacent to the planned Stations Casino site. The project is estimated for delivery Q2 2026 and boasts approximately 86,800 SF of retail, including a grocery in addition to 600 multifamily units. This is an exciting walkable development that is planned for the Inspirada community.
Overall, not too much has changed in the restaurant and QSR sector since 2023. It remains healthy for both leasing and single tenant net leased (STNL) sales. Retail vacancies have dipped slightly to 4% (as of Q2 2024) and second-generation restaurant space availability is few and far between. These days it’s rare that a second-gen restaurant will sit vacant before being released to a new operator. This has created ideal scenarios for landlords looking to keep the income stream in place while the new tenant navigates through lengthy permitting timelines. STNL restaurant sales seem to be pacing right along with 2023 thus far, with cap rates ranging from 4.8% (Starbucks) up to 6% (Rally’s).
Drive-thru leasing opportunities continue to be a hot commodity with rents holding relatively steady at $3.25 – $5.00 PSF per month; and endcap or pad restaurant spaces ranging from $2.75 – $4.00 PSF per month; depending on size, TI packages, location, etc.
An influx of new brands entered the market in 2023 and has since tapered off; likely due to the lack of available free-standing drive-thrus or end cap spaces typically being sought out by these operators. Coffee seems to be growing in popularity again. Mega corporations have dominated the market for years and more competition is starting to come in. Some of the newer and expanding brands like Better Buzz, out of SoCal; Vesta Coffee, a local operator; or Foxtail Coffee, out of Florida; have all been successful at establishing a following and identifying successful locations across the Valley.
Food halls have proven to be a fickle sector in the food and beverage world. The Sundry at UnCommons recently closed its doors after only a year of operations, citing operational and technological challenges with the format. In addition, it’s possible replacement tenants are being vetted at Durango Station’s Eat Your Heart Out Food Hall. Sad news for the food hall category, but with demand remaining strong for second-gen space, these landlords are unlikely to have challenges backfilling those spaces with new concepts.
Las Vegas has always been a city that is synonymous with “entertainment”, and the city continues to adapt and redefine the meaning of “entertainment” through experiential retail. As consumer behavior shifts, brick and mortar stores are embracing the idea of adding an immersive and memorable experience alongside their traditional offerings.
The catalyst of experiential retail is the off strip, immersive entertainment district known as Area15. Its current offerings include Meow Wolf’s Omega Mart, Illuminarium, Five Iron Golf and Dueling Axes. The district is expanding, with plans for a 110,000 SF building housing Universal Studio’s Horror Unleashed with an additional 200,000 SF dedicated to entertainment-driven retail. Area15 isn’t the only off strip development with experiential retail – across the Valley interactive museums, pickleball concepts, mini golfing and many more users are planting flags in suburban locations.
The impact of this trend on real estate in Las Vegas is significant and the Strip is at the forefront of the evolution. In addition to being a luxury shopping destination, it has become a leader in offering unique, immersive experiences that captivate and engage locals and visitors alike with concepts like Play, a new adult playground at the Luxor, Swingers indoor mini golf in Mandalay Bay and the newly announced F1 Arcade set to open in 2025 at the Forum Shops.
Notable developments include 63 CityCenter, a retail destination located at the heart of the Strip, featuring experience-based tenants like the Arte Museum, Museum of Illusions, Ariat, and Jason Aldean’s Kitchen + Bar. Additionally, Gindi’s BLVD project, adjacent to Showcase Mall, will bring over 400,000 SF of retail, dining and immersive experiences. Plans for 10 acres of Strip-fronting land south of Fontainebleau include a hotel, residential units, restaurants, outdoor dining and a theater, further cementing the Strip’s role as a leader in experiential retail.
The Nevada Builders Alliance is the driving force behind Nevada’s booming building industry. Since its inception in 1965, the organization has worked to create a positive business environment for its member companies and communities in order to build a better, stronger Nevada. As the state’s largest professional organization representing the construction industry and affiliated sectors, Nevada Builders Alliance supports tens of thousands of hard-working Nevadans in every corner of the state.
Nevada saw the fastest population growth of any state in the last 20 years, according to U.S. Census Bureau data noting an increase of 58.2%, of which 15% happened in the last decade.
According to the U.S. Bureau of Labor Statistics, overall employment opportunities in construction trades are projected to grow faster than average for all occupations from 2023 to 2033. Approximately 663,500 openings are projected each year, on average, in these occupations due to employment growth, and attrition. The median annual wage for this group was $55,680 in May 2023, which was higher than the median annual wage for all occupations of $48,060. However, Nevada’s building industry regularly reports higher wages.
Nevada Builders Alliance is a champion for the construction industry, and especially supportive of young adults looking for careers in the trades. The Nevada Builders Foundation 501c3 acts as the philanthropic arm of NBA and has raised funds to provide scholarships for individuals pursuing a career in the trades, assisted in obtaining critical certifications such as OSHA 10, and more. Additionally, NBA assists young adults with apprenticeship programs, streamlining their ascent to a successful profession. These initiatives not only provide a footing for those looking to enter the industry, but also provide a myriad of options for their future career path.
For decades, the need for a four-year degree to be successful in America has been the gold standard. Unfortunately, the definition of success can be subjective, and most would agree that success is defined by learning and applying a valuable trade, earning a livable wage, and not being saddled with student loan debt that may never be paid off.
So what are the benefits to learning a trade and being a member of NBA’s growing alliance?
NBA recently debuted a 401(k) Retirement Plan Exchange® which gives members access to a Transamerica professional service team to manage the plan’s administrative tasks and mitigate businesses fiduciary burdens. The program offers large plans and is designed to help employees stay on course to reach their retirement goals.
Businesses should note that beginning July 2025, Nevada will impose mandates on qualifying employers to provide a retirement solution and NBA has brought that to its members early.
Together with Pro Group Management, NBA has provided vital access to one of the most successful workers’ compensation programs in the construction industry, as well as a competitive health insurance plan. With the Prominence Health Plan, NBA became the first trade association in Nevada to offer a health plan specifically designed for members with high levels of coverage, and substantial savings in comparison to other health plans.
NBA can also help businesses, large or small, adapt to an increasingly digitized world. Through the organization’s partnership with CHIPD, members have access to cost-effective and time-saving online payment processing solutions. CHIPD can help streamline online payments and collections at a very low rate to save businesses money.
NBA’s legislative advocacy efforts are vital to the memberships’ success. During the 2023 legislative session, one of the busiest in the past five years, NBA and its partners tracked over 200 bills, testified at over 40 bill hearings, wrote numerous amendments, helped pass several key important construction specific bills, and secured several necessary vetoes from Governor Lombardo to help the industry move forward. NBA worked closely with legislators, regulators and other stakeholders to ensure members’ cost of doing business did not skyrocket due to unnecessary and burdensome regulations.
Whether you are just getting started in the trade industry or an established business, joining the Nevada Builders Alliance means joining a dedicated coalition across Nevada that helps and supports our members succeed.
The Nevada Builders Alliance is the driving force behind Nevada’s booming building industry. Since its inception in 1965, the organization has worked to create a positive business environment for its member companies and communities in order to build a better, stronger Nevada. As the state’s largest professional organization representing the construction industry and affiliated sectors, Nevada Builders Alliance supports tens of thousands of hard-working Nevadans in every corner of the state. 
