Northern Nevada By Angel Orozco, CBRE The Reno industrial market was comprised of approximately 112 million SF at the close of Q4 2023. The market substantially grew in 2023, adding over 7.3 million SF of new inventory across 25 buildings. The construction pipeline remained plentiful, with a variety of projects totaling over 2.5 million SF underway and 16.1 million SF in … [Read more...] about Industrial Summary
Features
Deadline to Tear Out Nonfunctional TurfCreeping Closer
With the deadline to get rid of nonfunctional turf quickly approaching, there’s no better time than right now for businesses, HOAs and multifamily properties to upgrade their useless thirsty grass to water-smart landscaping. Cash incentives for grass replacement could dry up before a Nevada law requiring the removal of nonfunctional turf across the Las Vegas Valley goes into … [Read more...] about Deadline to Tear Out Nonfunctional Turf
Extreme Takeoffs and Soft LandingsEconomic Forecast 2024
Welcome to 2024. Following three years of economic extremes, from historic high unemployment and business lockdowns to the pandemic-caused bust and stimulus-caused boom, it's been a ride. The Governor's Economic Advisory Council, launched in tumultuous 2020, is lead by Bob Potts, deputy director, Governor's Office of Economic Development (GOED). The council collects data … [Read more...] about Extreme Takeoffs and Soft Landings
Charter SchoolsPublic Schools of Choice
Education in America can trace its roots all the way back to the Puritans of the 1600s. The first public school was established in Boston, Massachusetts and allowed only boys. Eventually, the school system grew and became the recognized K-12 system that is familiar to Americans today. In the 1960s, the first magnet school opened with the aim to increase diversity in the … [Read more...] about Charter Schools
Industry FocusHealthcare
The healthcare industry in Nevada has never been more relied on than it has in recent years. However, despite COVID being in the rearview mirror, the industry is still facing giant problems. From battling a significant shortage of medical professionals, rising costs and burnout to the point that practitioners are leaving the field altogether, the industry has … [Read more...] about Industry Focus
Engineering in NevadaBuilding the Foundations
Nurses and teachers receive widespread approbation for their contributions to society. Rightly so. Another group, however, rarely receives such accolades while their work reaches to the very foundations of our society: engineers. “I think engineers are unsung heroes. They’re at least unknown heroes in our communities. Very few people realize that engineering touches every … [Read more...] about Engineering in Nevada
Game OnSports Betting Evolution in Nevada from a Regulatory Perspective
Gaming Regulation in Nevada The Nevada Gaming Control Board is charged with protecting the integrity and stability of the ever-evolving gaming industry. The board executes this statutory mandate through exhaustive investigative procedures, comprehensive licensing practices and strict enforcement of laws and regulations that hold gaming licensees to high standards. These … [Read more...] about Game On
MVPNikki Fargas
President of Las Vegas Aces League/Sport: Basketball Team’s Inaugural Season: 1997 Location: Las Vegas, Nevada Executive Hometown: Oak Ridge Tennesee Executive Joined Team in: 2021 40 Full Time Employees Not Including Players A former player, broadcaster and basketball coach, Nikki Fargas is the current president of the Las Vegas Aces. She is at the helm of … [Read more...] about MVP
Game OnThe Highlights
Adelson Purchases Majority Stake in Dallas Mavericks Late last year, Las Vegas Sands’ controlling shareholder Miriam Adelson, widow of Sands founder Sheldon Adelson, announced a binding purchase agreement to purchase majority ownership of the National Basketball Association’s (NBA) Dallas Mavericks. Adelson sold a $2 billion stake in the casino company to purchase the … [Read more...] about Game On
ReD ReportRetail Summary: Third Quarter 2023
Northern Nevada By Gary Tremaine, Dickson Commercial Group The retail market in northern Nevada has encountered ongoing obstacles in terms of development, such as elevated construction expenses and the imperative to address escalating inflation. Nevertheless, there are several new projects advancing. Both regional and national tenants have shown sustained interest in our … [Read more...] about ReD Report
Most Respected Leaders 2023
“Knowledge will give you power, but character respect.” —Bruce Lee True respect, the kind that good leaders garner, isn’t freely given. This type of respect is earned through a million small decisions that are witnessed by peers and the quiet leadership that builds successes. The 2023 Class of Most Respected Leaders (MRL) have earned this respect. Their … [Read more...] about Most Respected Leaders 2023
Credit Unions In NevadaMembership and Community
Statewide, credit unions in metro and rural areas may have very different markets. However, the top issues they're facing are consistent when contrasted between credit unions and traditional banking, between Nevada and the rest of the U.S., and between metro and rural. "Overall banking issues are relatively consistent across the state and the nation as technology continues … [Read more...] about Credit Unions In Nevada
Industry FocusAttorneys
The legal industry, like law itself, faces complex challenges. From advanced technology affecting legal issues and the way attorneys conduct business to a complete culture shift in the industry itself, the legal industry is navigating difficult waters. Recently, a group of attorneys met at a roundtable sponsored by City National Bank and held in Las Vegas to discuss … [Read more...] about Industry Focus
Nevada’s Office MarketFlight to Quality
Although the office market in Nevada has been battered by rising construction costs and a high interest-rate environment, experts agree that Class A properties offering the right combination of lifestyle amenities and desirable locations can be successful in this challenging market. Defying the odds by adjusting to market conditions is what successful office developers have … [Read more...] about Nevada’s Office Market
Office SummaryThird Quarter 2023
Northern Nevada By Jordan Lehman, Colliers | Reno Northern Nevada’s office market experienced some positive market fundamentals this quarter as it saw declining net absorption, shrinking sublease availability, and improving investment activity. Quarterly net absorption of - 5,474 square feet pulled annual net absorption to about 1,800 square feet. Available sublease space … [Read more...] about Office Summary