The construction industry continues to be the barometer for the severity of Nevada’s economic plight, but commercial real estate in particular is making enough improvement to spark interest from investors and private parties looking to benefit from the historically low interest rates. This means banks and other real estate lenders are revving up business again. Economic … [Read more...] about It’s an Investment: Commercial Financing in Nevada
Applied Analysis
Retail Summary: Fourth Quarter 2013
Southern Nevada The Las Vegas retail vacancy rate fell below 10 percent or the first time since 2008 as it ended 2013 at 9.2 percent. The latest rate is down 0.2 percentage points from the prior quarter and represents a decline of 0.8 percentage points from the prior year. During the fourth quarter, the retail sector reported positive net absorption with 147,900 square feet … [Read more...] about Retail Summary: Fourth Quarter 2013
Office Summary: Fourth Quarter 2013
Southern Nevada The Las Vegas office sector ended 2013 on a somewhat positive note as it reported positive net absorption for the third consecutive quarter. While the vacancy rate remains elevated, the latest period represents a decline of 0.2 percentage points compared to the prior quarter. Compared to a year ago, the rate is down 0.3 percentage points. During the quarter, … [Read more...] about Office Summary: Fourth Quarter 2013
Industrial Summary: Fourth Quarter 2013
Southern Nevada In 2013, the Las Vegas industrial market reported the highest net absorption since 2007. The vacancy rate at the end of 2013 was 13.8 percent, which represents a decline of 0.4 percent from the prior quarter. Compared to a year ago (Q4 2012), the vacancy rate reported an even more substantial decline of 2.6 percent. With no completions during the fourth … [Read more...] about Industrial Summary: Fourth Quarter 2013
An Industry Revived: Commercial Real Estate in Nevada
Nevada’s commercial real estate market has hit bottom and is recovering, albeit gradually and with some sectors stronger than others, experts said. Due to a confidence that the market is on the upswing, investors and tenants are willing to buy and lease. In fact, brokers completed some sizable deals in 2013, including the sale to Genting Berhad, a Southeast Asia casino … [Read more...] about An Industry Revived: Commercial Real Estate in Nevada
Nevada Real Estate & Development Report: January 2014
New Year - New Format The ReD Report has a new, easier to read format. Commercial real estate professionals throughout the state have requested the report be categorized in market areas, as opposed to zip codes. The color-coded areas correspond to the map below and each deal is presented in a more concise manner. We appreciate all the brokers who continue to send us their … [Read more...] about Nevada Real Estate & Development Report: January 2014
Retail Summary: Third Quarter 2013
Southern Nevada During the third quarter of 2013, the Las Vegas retail market continued to witness increased demand, largely sourced to tenants occupying previously vacant anchor spaces. The overall vacancy rate fell to 9.6 percent during the quarter, representing a decline of 30 basis points (0.3 percentage points) from the prior quarter (Q2 2013). The rate is down 70 basis … [Read more...] about Retail Summary: Third Quarter 2013
Nevada’s 2014 Economic Forecast: The Way the Wind Blows…
When it comes to fortune telling, nothing is ever certain, but a handful of industry experts share their thoughts on Nevada’s economy in 2014. This year’s predictions offer more good news than has been reported in Nevada Business Magazine’s annual Economic Forecast in the last few years. While most business executives are proceeding with caution, they seem to agree the worst of … [Read more...] about Nevada’s 2014 Economic Forecast: The Way the Wind Blows…
Office Summary: Third Quarter 2013
Southern Nevada The Las Vegas office vacancy rate declined for the second consecutive quarter, reaching 25.9 percent by the close of the third quarter of 2013. Although the latest period represents a decline of 40 basis points when compared to the prior quarter, vacancies remain elevated. Compared to a year ago, the vacancy rate is up 10 basis points. Despite no completions … [Read more...] about Office Summary: Third Quarter 2013
Industrial Summary: Third Quarter 2013
Southern Nevada The Las Vegas industrial market vacancy rate fell to 14.8 percent in the third quarter of 2013, which is the lowest it has been since the first quarter of 2010. Compared to the prior quarter (Q2 2013), vacancies are down 70 basis points (0.7 percentage points), while they have fallen 220 basis points (2.2 percentage points) since last year (Q3 2012). Since the … [Read more...] about Industrial Summary: Third Quarter 2013
Retail Summary: Second Quarter 2013
Southern Nevada The retail market continued to report stabilizing conditions in the second quarter of 2013 as vacancies improved. The vacancy rate fell to 9.8 percent during the second quarter, down 30 basis points from the prior quarter. Compared to a year ago, the rate reported a more substantial decline of 90 basis points. The second phase of Desert Marketplace was the only … [Read more...] about Retail Summary: Second Quarter 2013
Workforce Development In Nevada
In the wake of the recession, with unemployment just under 10 percent, it would seem employers would have no problem filling positions. But though Nevada’s employment base is growing again, it remains below pre-recession levels and of people who have gone back to work, a disproportionate share have gone back part-time or in jobs that don’t fully utilize their skills. Add in the … [Read more...] about Workforce Development In Nevada
Office Summary: First Quarter 2013
Southern Nevada The Las Vegas office sector vacancy rate jumped to a record high of 26.2 percent during the first quarter of 2013. Compared to the prior quarter (Q4 2012) vacancies are up 50 basis points (0.5 percent), while they have increased 110 basis points (1.1 percent) from the same quarter a year ago (Q1 2012). The climb in vacancies was due to negative net … [Read more...] about Office Summary: First Quarter 2013
Industrial Summary: First Quarter 2013
Southern Nevada The Las Vegas industrial market reported a meaningful decline in vacancy rate, falling to 17.2 percent during the first quarter of 2013. Compared to the prior quarter, vacancies are down 50 basis points (0.5 percent), while compared to a year ago, they are down 70 basis points (0.7 percent). Approximately 690,600 square feet of positive net absorption was … [Read more...] about Industrial Summary: First Quarter 2013
Retail Summary: Fourth Quarter 2012
Las Vegas By the end of 2012, vacancies in the retail sector reached their lowest level since the first quarter of 2009. The vacancy rate ended the year at 9.9 percent, down 0.3 percentage points when compared to last quarter (Q3 2012). Compared to a year ago (Q4 2011) the rate is down an even greater 0.7 percentage points. The latest market activity suggests the retail sector … [Read more...] about Retail Summary: Fourth Quarter 2012