Southern Nevada Las Vegas Valley office vacancy rates during the first quarter of 2015 ranged from 16.5 percent for Class C space to 29.3 percent for Class A space. The overall vacancy rate was 21.7 percent, a slight rise above the 21.3 percent recorded in quarter four of 2014. Q1’s rise equates to the first increase in vacancy rate in 6 quarters. Completions for Q1 were … [Read more...] about Office Summary: First Quarter 2015
RCG Economics
Industrial Summary: First Quarter 2015
Southern Nevada The overall vacancy rate for the Las Vegas Valley industrial market in Q1, 2015 was 6.9 percent, a drop of 0.3 points, from 7.2 percent in Q4, 2014. The first quarter’s decline equates to nine straight quarters of declining industrial vacancies. The strong growth in the demand for industrial space, paired with resurgent construction, shows that the Valley’s … [Read more...] about Industrial Summary: First Quarter 2015
Nevada Taxes Reaching Deeper
Hall of Fame baseball player Yogi Berra once said it is deja vu all over again. He wasn’t wrong if he was describing Nevada politics and biennial efforts to create a tax code that can better withstand economic recessions. Nevada lawmakers have recently been debating another proposed tax increase geared towards adding funds to the state’s woeful educational system. In total, … [Read more...] about Nevada Taxes Reaching Deeper
Retail Summary: Fourth Quarter 2014
Southern Nevada The overall vacancy rate for the Las Vegas Valley anchored retail market in the fourth quarter of 2014 was 11.4 percent. The vacancy rate increased 0.4 points, from 11 percent in the third quarter. However, vacancies were down 0.3 points, from 11.7 percent compared to the same time in 2013. While the vacancy rate rose, the general trend still shows that the … [Read more...] about Retail Summary: Fourth Quarter 2014
Industry Focus: Commercial Real Estate
As the economy recovers, commercial real estate is slowly regaining footing in the Silver State. Recently, executives representing the industry met at the Las Vegas offices of Gordon Silver to discuss the challenges of commercial real estate in Nevada. Connie Brennan, publisher of Nevada Business Magazine, served as moderator for the event. These monthly meetings are … [Read more...] about Industry Focus: Commercial Real Estate
Nevada Land Market Continues to Recover
Demand for land in Nevada has resembled a rollercoaster pattern this decade. During the real estate boom in the first half of the 2000s, both residential and commercial developers hungrily purchased land, driving up prices. With the recession, the opposite happened; development nearly ceased, land demand decreased and so did the price. Again, the pendulum has begun to swing … [Read more...] about Nevada Land Market Continues to Recover
Builders and Developers: Bullish on Nevada
Nevada’s skyline is once again changing. Commercial real estate, which saw many projects stalled mid-recession, is finally moving: contractors are hiring and builders are returning. But is there activity across the board in all industry sectors – industrial, office, retail, mixed-use – or are some moving faster than others? Does it spell recovery? Or another boom and bust … [Read more...] about Builders and Developers: Bullish on Nevada
Power Poll 2014: The Bounce Back
Optimism characterizes the mood of Nevada executives this year. Whether it’s waving goodbye to the recession or already having moved on to bigger and better things, business owners and executives have officially brushed off the oppressive economy and are now working on the bounce back. The 2014 Power Poll marks the twelfth year executives have weighed in on various issues … [Read more...] about Power Poll 2014: The Bounce Back
Finding our Niche: Distribution Centers in Nevada
In an effort to diversify Nevada’s economy away from over reliance on travel and tourism, hospitality and gaming, economic development authorities throughout the state continue to work to find the perfect industries for Nevada’s business-friendly tax climate, wide-open spaces, multi-modal transportation systems and easy access to the 11 western states. In 2011, the … [Read more...] about Finding our Niche: Distribution Centers in Nevada
The Logistics of Economic Recovery: The Distribution Industry in Nevada
That big-box warehouse down the street may not be the prettiest feature of the Nevada landscape surrounding you, but next time you’re driving past it, consider this: It, and other facilities like it, might just save the state’s struggling economy. Nevada is poised to become a major distribution center in the West. According to a 2011 study commissioned by the State of … [Read more...] about The Logistics of Economic Recovery: The Distribution Industry in Nevada