Las Vegas The office sector continues to remain fragile with further reductions in pricing amid relatively little change in the vacancy rate. The vacancy rate remained flat from the prior quarter at 25.2 percent (13.1 million square feet) by the close of the first quarter of 2012. On a year-over-year basis, the vacancy rate has increased 1.5 percentage points. Despite one … [Read more...] about Office Summary: First Quarter 2012
Las Vegas
Banking on Nevada: Moving Forward
No one is singing Ding-Dong, the Wicked Witch is Dead just yet, but a great many bankers across Nevada are already hailing the end of the recession – or something that looks a lot like it – and searching for ways to chart a better course through 2012 and beyond. Many banks statewide have gone by the wayside, and more may still follow. But for those willing and able to … [Read more...] about Banking on Nevada: Moving Forward
The Economics of Art: Nevada’s arts and culture
Financial challenges experienced by Nevada residents are mirrored by Nevada arts and culture organizations. During the economic downturn Nevada is still working to bounce back from, some Nevada arts organizations have thrived, some have come into being and some have closed their doors. While going through a recession, the arts may seem like a luxury Nevadans can’t afford. … [Read more...] about The Economics of Art: Nevada’s arts and culture
Industrial Summary: Fourth Quarter 2011
Las Vegas The Las Vegas Valley industrial market continues to report rising vacancies and further pricing adjustments. The vacancy rate moved upward to 19.0 percent as 418,900 square feet of negative net absorption was reported during the first quarter of 2012. For comparison purposes, the vacancy rate is up 0.4 percentage points from the previous quarter (Q4 2011), and is … [Read more...] about Industrial Summary: Fourth Quarter 2011
Tourism: Welcome Back
Nevada’s travel and tourism industry employs one-third of the state’s population. From hospitality to gaming and from the “What happens in Vegas Stays in Vegas” campaign to Northern Nevada being America’s Adventure Place, the Silver State has been promoted as a world class destination. At the same time, “diversify” has become the State’s battle cry over and over, with warnings … [Read more...] about Tourism: Welcome Back
Luxury Autos: Nice Ride…
Like soldiers crawling out of foxholes once the shooting has stopped, Nevada’s various industries are, one by one and in their own time, getting to their feet, dusting themselves off and resuming the march ahead. Inevitably, some business sectors are coming back faster than others. For Nevada’s luxury car industry, for instance, the prognosis for a full recovery is good. … [Read more...] about Luxury Autos: Nice Ride…
Staffing Firms
Nevada’s Staffing Firms have had front row seats to one of the most troubling aspects of this economy: unemployment. Despite that, they have found more and more employers are hiring and a demand for skilled workforce has remained strong. Recently, executives representing this industry met at Holland & Hart’s Las Vegas office to discuss staffing in Nevada and what is … [Read more...] about Staffing Firms
What is Paper? Nevada Embraces Technology and the People that Create It
Remember when businesses relied on rotary phones, typewriters and snail mail, when sales were done face to face and clients paid by cash or check? Today’s essential work tools are a cellphone, laptop or tablet and the Internet. We have e-mail, videoconferencing, telecommuting, e-tail, PayPal, apps and so much more. “There are so many technologies to choose from,” said Dave … [Read more...] about What is Paper? Nevada Embraces Technology and the People that Create It
Retail Summary: Fourth Quarter 2011
Las Vegas The anchor-centered retail market recorded 196,600 square feet of positive net absorption during the fourth quarter of 2011, pushing the vacancy rate downward to 10.6 percent. While vacancies edged down by 0.3 percentage points from the third quarter of 2011, the overall vacancy rate remains higher than the 10.3 percent reported one year ago (Q4 2010). As the … [Read more...] about Retail Summary: Fourth Quarter 2011
2011 Legislative Session in Review: How Nevada’s Commercial Real Estate Industry Fared this Year
Each year, lobbyists flock to Carson City to push or fight legislation that stands to impact their clients’ businesses. Representatives from every sector across the state work tirelessly to ensure their voice is heard. Always present but often behind the scenes are the advocates for Nevada’s commercial real estate industry - the hardest hit sector in the great recession. This … [Read more...] about 2011 Legislative Session in Review: How Nevada’s Commercial Real Estate Industry Fared this Year