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.… [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.… [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… [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… [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… [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… [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… [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… [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… [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,… [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… [More...]

Industrial Summary: Third Quarter 2013

Read the Nevada Industrial Summary: Second Quarter 2013 - summarizing the industrial commercial real estate market for Las Vegas and Reno/Sparks.

Southern Nevada The Las Vegas industrial market vacancy rate fell to 14.8 percent in the third quarter of 2013, which is the lowest it has been since the first quarter of 2010. Compared to the prior quarter (Q2 2013), vacancies are down 70 basis points (0.7 percentage points), while they have fallen 220 basis points… [More...]

Retail Summary: Second Quarter 2013

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

Southern Nevada The retail market continued to report stabilizing conditions in the second quarter of 2013 as vacancies improved. The vacancy rate fell to 9.8 percent during the second quarter, down 30 basis points from the prior quarter. Compared to a year ago, the rate reported a more substantial decline of 90 basis points. The… [More...]

Applied Analysis Announces Acquisition of SalesTraq New Mexico

Las Vegas – Applied Analysis, a leading economic, fiscal and policy research firm, announced that it has acquired SalesTraq New Mexico, an Albuquerque-based residential research company. In 2012, Applied Analysis acquired the operations of SalesTraq, which included unlimited rights to the name and brand, with the exception of its operations in New Mexico. With this most recent acquisition,… [More...]

Workforce Development In Nevada

From an economic development standpoint, workforce development and diversification is singularly the most important facet.

In the wake of the recession, with unemployment just under 10 percent, it would seem employers would have no problem filling positions. But though Nevada’s employment base is growing again, it remains below pre-recession levels and of people who have gone back to work, a disproportionate share have gone back part-time or in jobs that… [More...]

Office Summary: First Quarter 2013

A summary of the office sector for Las Vegas and Reno, Nevada for First Quarter 2013.

Southern Nevada The Las Vegas office sector vacancy rate jumped to a record high of 26.2 percent during the first quarter of 2013. Compared to the prior quarter (Q4 2012) vacancies are up 50 basis points (0.5 percent), while they have increased 110 basis points (1.1 percent) from the same quarter a year ago (Q1… [More...]

Report from The Private Bank by Nevada State Bank offers insight about affluent Nevadans

The May edition of the "High Net Worth Report" focuses on the concentration of high-income and high net worth households throughout the United States.

The Private Bank by Nevada State Bank releases research on lower percentage of high-income households in Nevada               LAS VEGAS – The Private Bank by Nevada State Bank released the sixth of its “High Net Worth Report” briefings today. The May edition focuses on the concentration of high-income households throughout the United… [More...]

Industrial Summary: First Quarter 2013

A look at the Nevada commercial real estate industrial summary: First Quarter 2013.

Southern Nevada The Las Vegas industrial market reported a meaningful decline in vacancy rate, falling to 17.2 percent during the first quarter of 2013. Compared to the prior quarter, vacancies are down 50 basis points (0.5 percent), while compared to a year ago, they are down 70 basis points (0.7 percent). Approximately 690,600 square feet… [More...]

The Private Bank by Nevada State Bank releases research on how the FICA holiday expiration is affecting Nevadans

The Private Bank by Nevada State Bank released the fifth of its High Net Worth reports today. The research report prepared by local market research firm Applied Analysis found that the state of Nevada has slightly more equitable income distribution than the nation as a whole; however, when it comes to the expiration of the… [More...]

Retail Summary: Fourth Quarter 2012

Read the Nevada Retail Summary: Fourth Quarter 2012.

Las Vegas By the end of 2012, vacancies in the retail sector reached their lowest level since the first quarter of 2009. The vacancy rate ended the year at 9.9 percent, down 0.3 percentage points when compared to last quarter (Q3 2012). Compared to a year ago (Q4 2011) the rate is down an even… [More...]

The effects of federal tax policy changes on Nevada’s high-income households

Nevada Business Press Releases for March 6th

The Private Bank by Nevada State Bank releases research on the effects of federal tax policy changes on Nevada’s high-income households The Private Bank by Nevada State Bank released the fifth of its High Net Worth briefings today. The research prepared by local market research firm Applied Analysis estimated that recent changes in federal tax… [More...]

Office Summary: Fourth Quarter 2012

Nevada Office Real Estate Report: Fourth Quarter 2012

Las Vegas During the fourth quarter of 2012, the office sector witnessed a quarter-over-quarter increase in vacancy rate. The market-wide vacancy rate for the fourth quarter of 2012 was 25.3 percent, up 0.3 percentage points when compared to the prior quarter (Q3 2012). Over one-fourth of existing office space has now been vacant for five… [More...]