Like many other industries, builders and developers have been dealing with a multitude of COVID-related issues, from supply chain disruptions to market uncertainty. Building and development leaders have been challenged with remaining flexible on projects and adapting where possible. Recently, leaders in these industries met in a virtual roundtable, sponsored by City National … [Read more...] about Industry Focus
COVID-19
Industrial SubmarketDemand Over Pandemic
The industrial real estate market has been crucial to the economy throughout the coronavirus pandemic as its stability has been driven by demand from e-commerce companies as consumer spending habits have shifted away from brick-and-mortar retail to online. That shift may be permanent as Nevada’s economy begins to recover from the pandemic. But some brokers believe retail … [Read more...] about Industrial Submarket
Commercial RE ReportOffice Summary: Fourth Quarter 2020
Northern Nevada By Colliers | Reno The Reno/Sparks office market has begun its journey to recovery in the fourth quarter of 2020, with positive office job growth and strong in-migration pointing to a rebound in the near future. Office vacancy saw a 40 basis point decrease since the previous quarter, from 13.1 percent in the third quarter to 12.7 percent in the fourth … [Read more...] about Commercial RE Report
Business IndicatorsMarch 2021
The “advance” estimate of U.S. real gross domestic product (GDP) for the fourth quarter of 2020 increased 4.0 percent at an annual rate, after a best-ever gain of 33.4 percent in the third quarter. Personal consumption expenditure and business investment, including private inventory, contributed positively to the real GDP growth, while net exports and government spending … [Read more...] about Business Indicators
Healthy FinancesBanking on Nevada
Despite the ongoing changes and challenges brought by the coronavirus pandemic, the Nevada banking industry is in a much healthier place than it was after the Great Recession in 2008. Total assets of the 68 financial institutions in the state were $108.2 billion, according to recent statistics compiled by the Federal Deposit Insurance Corp. (FDIC). Banking executives … [Read more...] about Healthy Finances
Litigation in a Changing WorldWhat Business Owners Need to Know
“I don’t think there is such a thing as being safe from being sued,” said Samuel Schwartz, principal, Schwartz Law. “In today’s environment, the bar to bring litigation is so low that to try to completely protect yourself from litigation as a business would likely be a waste of resources.” Best Practices Maybe lawsuit-proof doesn’t exist, but business owners can and … [Read more...] about Litigation in a Changing World
Industry FocusEmployment
Nevada’s employment landscape has been a roller coaster over the past decade. Dipping during the recession, employment saw a resurgence a few years ago only to experience new lows during the pandemic. Today the industry is dealing with retraining a workforce for the future and fraudulent unemployment claims, among other issues. Recently, executives from the employment industry … [Read more...] about Industry Focus
Post Pandemic DownsizeOffice Projects in Nevada
Tom van Betten, vice president of strategic partnerships for Matter Real Estate Group, worries about the problems he sees just over the horizon for the office-development market — problems that are directly linked to the uncertainties that have troubled the sector for the past year. Matter is the developer of the $400 million UnCommons mixed-use project in southwest Las … [Read more...] about Post Pandemic Downsize
Industry FocusHealthcare
Overburdened with COVID-19 cases, healthcare in Nevada is experiencing one of its most challenging years in history. Leaders in healthcare have been committed to finding solutions to the industry’s most pressing issues and the pandemic has prompted innovation in the field. Recently, healthcare executives across Nevada met in a virtual roundtable, sponsored by City National … [Read more...] about Industry Focus
Time & SpaceArchitectural Design Trends
Architecture may be all about space — the creation of spaces, the blending of the built environment with the natural environment — but it’s often about time, too. As Nevada’s architectural professionals look forward to the evolution of design trends in 2021, they see lots of indications that the dramatically changing times in which we find ourselves will shape the … [Read more...] about Time & Space
Be Optimistic: The World as We Know it is Ending
So, this decade didn’t really start off on the right foot. In the span of three months, we went from happily ringing in the 2020 New Year with friends and family, to being confined to effective house-arrest as a global pandemic brought out the authoritarian tendencies of our elected officials. On top of that, the nation reeled from cultural and political divides that resulted … [Read more...] about Be Optimistic: The World as We Know it is Ending
Mental Health in the Age of COVID-19Nevada Employers and their Power to Help
David Robeck is the president and CEO of Bridge Counseling Associates. Employers tout their medical benefits but often avoid an employee’s personal life. Both are important factors for employers to consider, especially now when so many employees are physically distant from their peers. Working from home has many benefits for employees but it has drawbacks as well. Mental … [Read more...] about Mental Health in the Age of COVID-19
Commercial RE ReportRetail Summary: Third Quarter 2020
Northern Nevada By Dickson Commercial Group Retail had its second slow quarter in a row with only 11 total sales. The third quarter sales volume came in at $10,303,027. In comparison, Q1 2020 had a total sales volume of roughly $42 million and there was just over $48 million per quarter throughout 2019. The average price per square foot was $331.26. The social … [Read more...] about Commercial RE Report
Business IndicatorsJanuary 2021
The “second” estimate of U.S. real gross domestic product (GDP) for the third quarter of 2020 grew 33.1 percent at an annual rate, unchanged from the previous estimate. Although the rate of the growth remained the same, revisions occurred for several components. That is, upward revisions to non-residential fixed investment and residential investment were offset by downward … [Read more...] about Business Indicators
It’s time to ChooseThe Economy Versus COVID-19
Over the last eight months, COVID-19 has been brought into sharp focus for most of us. I know people that have caught the virus and have seen the effect it has on them. It’s certainly not something anyone should be taking lightly. The advice on how to protect yourself and others is solid: social distance, mask up, isolate if you’re high risk and avoid people that are sick. It’s … [Read more...] about It’s time to Choose