Nevada Small Business Owners Show Increased Confidence in Nevada’s Economy, Says Nevada State Bank Survey

LAS VEGAS – Nevada State Bank’s annual survey of small businesses in Nevada reveals increased confidence in Nevada’s economy and more positive expectations for the future, with optimism increasing from last year’s survey. The bank’s recent survey of more than 400 small business owners, operators and managers throughout the state found that two-thirds of respondents said they … [Read more...]

Industrial Summary: Fourth Quarter

Southern Nevada The Las Vegas industrial market vacancy rate fell to 8.0 percent in the fourth quarter of 2014. The vacancy rate is down 3.6 percentage points from a year ago. Industrial vacancies have been in the single digits for three consecutive quarters with annual declines reported for 12 consecutive quarters. In addition, the vacancy rate has declined 9.0 percentage … [Read more...]

Report from The Private Bank by Nevada State Bank Focuses on Election Issues

The Private Bank by Nevada State Bank released its High Net Worth Report, with analysis focusing on High Net Worth residents.

LAS VEGAS – The Private Bank by Nevada State Bank released the nineteenth edition of its High Net Worth Report series, with analysis focusing on the national and state level issues High Net Worth residents valued as they went to the voting booth. Utilizing research from the 2014 High Net Worth Survey, the full results of which were released in August of 2014, highlights from … [Read more...]

Retail Summary: Third Quarter 2014

Southern Nevada In the third quarter of 2014, the Las Vegas retail market reported a vacancy rate of 9.1 percent. The latest period represents a decline of 0.1 percentage point compared to the prior quarter (Q2 2014). Compared to a year ago (Q3 2013), the retail vacancy rate has declined 0.3 percentage points. Anchored retail space has now reported annual declines in vacancy … [Read more...]

Economic Forecast: 2015 Preview

This year’s predictions offer more good news, a trend that was reported in Nevada Business Magazine’s annual Economic Forecast last year.

Economists and industry analysts can, and will, argue over whether an economic recovery is as strong as numbers seem to indicate. However, they do agree the numbers show Nevada’s economy is on track to strengthen and add more jobs in 2015 because many of the impediments to faster growth have subsided. The unemployment rate has dropped to its lowest level in more than five … [Read more...]

Industrial Summary: Third Quarter 2014

Southern Nevada In the third quarter of 2014, the Las Vegas industrial market vacancy rate reached single digits for the first time since the fourth quarter of 2008. The rate fell to 9.3 percent during the period, which is down 0.8 percentage points from the prior quarter (Q2 2014). Compared to a year ago, industrial vacancies have declined 3.4 percentage points. The Las Vegas … [Read more...]

Retail Summary: Second Quarter 2014

Southern Nevada The Las Vegas retail vacancy rate reported a slight increase in the second quarter of 2014. The rate rose 0.1 percentage point compared to the prior period (Q1 2014) to 9.1 percent. However, compared to a year ago, the retail vacancy rate remains down 0.7 percentage points. Since the high of 11.1 percent reached in the third quarter of 2010, vacancies have … [Read more...]

Office Summary: Second Quarter 2014

Southern Nevada The Las Vegas office vacancy rate declined in the second quarter of 2014 after increasing in the first quarter of the year. During the latest period, the sector reported a vacancy rate of 25.2 percent, which is down 0.4 percentage points from the prior quarter. Compared to a year ago, vacancies have fallen 0.5 percentage points. The office market vacancy rate … [Read more...]

Margin Tax Would Cause Destruction of 3,600+ Private-Sector Jobs

New Dynamic, General-Equilibrium Analysis Simulates Impact of Tax Proposal Although much has been said about the proposed margin tax on businesses that will appear as Question 3 on November’s ballot, there is a shocking lack of clarity about the actual impact of the tax on Nevada’s economy. There isn’t even agreement on an approximate amount of new tax dollars the tax would … [Read more...]

May 2014: Around the State

Coalition Releases Job Impact Memo on Margin Tax Initiative The Coalition to Defeat the Margin Tax Initiative (CDMTI) has completed an analysis of the potential employment impacts of Question 3, the Margin Tax Initiative, which will appear on November’s ballot. According to their research, the tax burden for businesses would increase by approximately $700 million. That … [Read more...]

It’s an Investment: Commercial Financing in Nevada

Investing in commercial real estate requires a number of considerations. In addition to location, location, location, another consideration is financing.

The construction industry continues to be the barometer for the severity of Nevada’s economic plight, but commercial real estate in particular is making enough improvement to spark interest from investors and private parties looking to benefit from the historically low interest rates. This means banks and other real estate lenders are revving up business again. Economic … [Read more...]

Retail Summary: Fourth Quarter 2013

Southern Nevada The Las Vegas retail vacancy rate fell below 10 percent or the first time since 2008 as it ended 2013 at 9.2 percent. The latest rate is down 0.2 percentage points from the prior quarter and represents a decline of 0.8 percentage points from the prior year. During the fourth quarter, the retail sector reported positive net absorption with 147,900 square feet … [Read more...]

Karla Perez Joins Board of Nevada State Bank

Nevada State Bank has added prominent Southern Nevada healthcare professional and businesswoman Karla J. Perez to its board of directors.

LAS VEGAS– Nevada State Bank has added prominent Southern Nevada healthcare professional and businesswoman Karla J. Perez to its board of directors. Perez serves as the regional vice president of seven hospitals within the western region of Universal Health Services (UHS). “We are delighted to have Karla with her business expertise and her commitment to the community joining … [Read more...]

Office Summary: Fourth Quarter 2013

Southern Nevada The Las Vegas office sector ended 2013 on a somewhat positive note as it reported positive net absorption for the third consecutive quarter. While the vacancy rate remains elevated, the latest period represents a decline of 0.2 percentage points compared to the prior quarter. Compared to a year ago, the rate is down 0.3 percentage points. During the quarter, … [Read more...]

Industrial Summary: Fourth Quarter 2013

Southern Nevada In 2013, the Las Vegas industrial market reported the highest net absorption since 2007. The vacancy rate at the end of 2013 was 13.8 percent, which represents a decline of 0.4 percent from the prior quarter. Compared to a year ago (Q4 2012), the vacancy rate reported an even more substantial decline of 2.6 percent. With no completions during the fourth … [Read more...]

An Industry Revived: Commercial Real Estate in Nevada

Nevada’s commercial real estate market has hit bottom and is recovering, albeit gradually and with some sectors stronger than others, experts said.

Nevada’s commercial real estate market has hit bottom and is recovering, albeit gradually and with some sectors stronger than others, experts said. Due to a confidence that the market is on the upswing, investors and tenants are willing to buy and lease. In fact, brokers completed some sizable deals in 2013, including the sale to Genting Berhad, a Southeast Asia casino … [Read more...]

Nevada Real Estate & Development Report: January 2014

Read the Nevada Real Estate and Development Report: January 2014 - Commercial real estate and development - projects, sales, and leases.

New Year - New Format The ReD Report has a new, easier to read format. Commercial real estate professionals throughout the state have requested the report be categorized in market areas, as opposed to zip codes. The color-coded areas correspond to the map below and each deal is presented in a more concise manner. We appreciate all the brokers who continue to send us their … [Read more...]

Retail Summary: Third Quarter 2013

Read the Nevada Retail Summary: Third Quarter 2013 - summarizing the office commercial real estate market for Las Vegas and Reno/Sparks.

Southern Nevada During the third quarter of 2013, the Las Vegas retail market continued to witness increased demand, largely sourced to tenants occupying previously vacant anchor spaces. The overall vacancy rate fell to 9.6 percent during the quarter, representing a decline of 30 basis points (0.3 percentage points) from the prior quarter (Q2 2013). The rate is down 70 basis … [Read more...]

Nevada’s 2014 Economic Forecast: The Way the Wind Blows…

This year’s predictions offer more good news than has been reported in Nevada Business Magazine’s annual Economic Forecast in the last few years.

When it comes to fortune telling, nothing is ever certain, but a handful of industry experts share their thoughts on Nevada’s economy in 2014. This year’s predictions offer more good news than has been reported in Nevada Business Magazine’s annual Economic Forecast in the last few years. While most business executives are proceeding with caution, they seem to agree the worst of … [Read more...]

Office Summary: Third Quarter 2013

Nevada Office Summary: Third Quarter 2013

Southern Nevada The Las Vegas office vacancy rate declined for the second consecutive quarter, reaching 25.9 percent by the close of the third quarter of 2013. Although the latest period represents a decline of 40 basis points when compared to the prior quarter, vacancies remain elevated. Compared to a year ago, the vacancy rate is up 10 basis points. Despite no completions … [Read more...]