RENO – The Reno/Sparks Association of REALTORS (RSAR) released its February 2016 report on existing home sales in Washoe County, including median sales price and number of home sales in the region. RSAR obtains its information from the Northern Nevada Regional Multiple Listing Service (www.nnrmls.com) and includes sales of bank-owned (foreclosure) properties. During February … [Read more...] about RSAR Releases February 2016 Existing Home Sales Report
Reno commercial real estate
Keep on the Sunny Side: Power Poll 2016
Optimism is in the air as 2016 ramps up and that positivity is making its way through Nevada’s business community as executives and business owners continue to see improvements. The year started with some big announcements for economic diversification in the state, including projects moving into Southern Nevada’s Apex and continued optimism in the north with new businesses … [Read more...] about Keep on the Sunny Side: Power Poll 2016
Commercial Real Estate in Nevada: Then and Now
Thirty years ago, the Las Vegas Strip was a different Strip than today. Technology companies had yet to discover Nevada. Cell phones were rare. Businesses relied on PBX rooms for their telecommunications and if one part of the system failed, the others continued because everything didn’t depend on an IP framework to run all systems together. Thirty years ago, industrial … [Read more...] about Commercial Real Estate in Nevada: Then and Now
Office Summary: Fourth Quarter 2015
Southern Nevada The Las Vegas Valley spec office vacancy rate in Q4, 2015 declined 0.1 points to 18.4 percent from Q3, 2015. Compared to Q4, 2014, the office vacancy rate is down 0.5 points, from 18.9 percent. Q4’s vacancy rate drop means that the Valley’s office market has improved for four straight quarters. Vacancy rates ranged from 13.3 percent for Class C space to 27.1 … [Read more...] about Office Summary: Fourth Quarter 2015
First Independent Bank Funds Downtown Reno Upscale Apartment Project
Reno - One of downtown Reno’s longest vacant buildings is being transformed into an upscale apartment building, bringing new life and modern living options to the downtown Reno area. The redevelopment project is a partnership between Basin Street Properties and Bentar Development, which received funding to complete the project from First Independent Bank, a division of … [Read more...] about First Independent Bank Funds Downtown Reno Upscale Apartment Project
Dermody Properties Hires New Assistant Development Manager in West Region Office
Dermody Properties, a national industrial real estate developer headquartered in Reno, Nev., has hired Shelagh Danna as the company’s Assistant Development Manager in the West Region office in Reno, Nev. Danna is responsible for project management across the development and acquisition process. She works with the company’s West Region team on the development and management … [Read more...] about Dermody Properties Hires New Assistant Development Manager in West Region Office
Retail Market: Nevada’s Retail Shows Slow, Steady Improvement
The retail component of Nevada’s commercial real estate industry continues to recover, with vacancy rates slowly dropping. Southern Nevada In the Silver State’s southern region, the retail sector shows “moderate recovery,” said John Restrepo, principal of RCG Economics, a Las Vegas-based firm providing market trend analysis and economic research. Lower gas prices have left … [Read more...] about Retail Market: Nevada’s Retail Shows Slow, Steady Improvement
Red Report: January 2016
E Sale, Retail ADDRESS 1201 – 1240 E. Charleston Blvd., 89104 BUYER Downtown Rental, Inc. SELLER US Bank National Association DETAILS 27,402 SF; $2,250,000 APN 139-34-814-001 REP (BOTH) Wil Chaffee and Paul Chaffee of NAI Vegas Sale, Land ADDRESS 5366 Stephanie St., 89122 BUYER Oxford Investment Partner, LLC SELLER CRV Classic Properties, LP DETAILS 1.66 acres; … [Read more...] about Red Report: January 2016
NVAR Honors Top Nevada REALTORS, including Kevin Sigstad as REALTOR of the Year
The Nevada Association of REALTORS (NVAR) honored its leading members at an awards event in Las Vegas on Friday, naming longtime industry leader Kevin Sigstad as its 2015 Nevada REALTOR of the Year and recognizing others from around the state for their continued service to their association, their profession and their communities. Sigstad, a longtime Reno REALTOR, served as … [Read more...] about NVAR Honors Top Nevada REALTORS, including Kevin Sigstad as REALTOR of the Year
Dermody Properties and PCCP Begin Construction on 1.6 Million-Square-Foot Industrial Park in Reno
PCCP, LLC and Dermody Properties, a national industrial development and operating company, recently broke ground on LogistiCenter at 395 Phase 2. On December 9, the companies and Nevada Governor Brian Sandoval celebrated the start of construction on the first facility, which is planned for 722,512 square feet with completion anticipated for May 2016. The facility is located at … [Read more...] about Dermody Properties and PCCP Begin Construction on 1.6 Million-Square-Foot Industrial Park in Reno
Industry Focus: Commercial Real Estate
Commercial Real Estate in Nevada is recovering from a tough recession. Brokers agree that the industry has improved, but some markets are clearly bouncing back more quickly than others. Recently, commercial real estate experts met at the Las Vegas Law Offices of Snell & Wilmer to discuss the factors affecting the overall health of the industry in the Silver State. Connie … [Read more...] about Industry Focus: Commercial Real Estate
Office Summary: Third Quarter 2015
Southern Nevada Las Vegas Valley “spec office” vacancy rates during Q3, 2015 declined 0.3 points to 21.3 percent from Q2, 2015. Compared to Q3, 2014, the office vacancy rate is down 0.3 points, from 21.6 percent. Q3’s vacancy rate-decline means that the Valley’s office market has been improving for seven of the last eight quarters. Vacancy rates ranged from 15.2 percent for … [Read more...] about Office Summary: Third Quarter 2015
Dermody Properties Wins Industrial Deal of the Year
Reno, Nev. – A new fulfillment center that Dermody Properties, a national industrial development company headquartered in Reno, Nev., and Hillwood Investment Properties are developing for Wayfair Inc. (NYSE:W) was recently named the Industrial Deal of the Year by NAIOP, the Commercial Real Estate Development Association (NAIOP). The 898,560-square-foot facility, known as … [Read more...] about Dermody Properties Wins Industrial Deal of the Year
Elizabeth Teske of Dermody Properties Recognized as a Woman of Influence by Real Estate Forum Magazine
Reno – The editors of Real Estate Forum Magazine have selected Elizabeth Teske as a Southwest Woman of Influence for her achievements in the industrial real estate industry as a standout performer. Teske is Senior Vice President of Property Management at Dermody Properties, a national industrial real estate developer and operator. She is responsible for overseeing the … [Read more...] about Elizabeth Teske of Dermody Properties Recognized as a Woman of Influence by Real Estate Forum Magazine
Red Report: November 2015
E Sale, Multi-Family ADDRESS 310 – 400 S. 11th St., 89101 BUYER BDR Cascadia SELLER Norma Jakubowski DETAILS 57 units; $45,947 per unit APN 139-34-712-101 SELLER REP Michael LaBar and Michael Shaffner of Avison Young Sale, Multi-Family ADDRESS 1823 Santa Paula Dr., 89104 BUYER 1823 Santa Paula Apartments, LLC SELLER Eagle Property Partners, LLC DETAILS 12 units; … [Read more...] about Red Report: November 2015