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: First Quarter 2014

Southern Nevada The Las Vegas retail market continued to witness increased demand in the first quarter of 2014 as the sector reported positive net absorption for the fourth consecutive quarter. The retail market vacancy rate fell to 9.0 percent by the end of the first quarter, which is down 0.1 percentage point from the prior period. Compared to a year ago, the vacancy rate is … [Read more...]

A Future of Change: Economic Development

At the top of the economic development wish list is unmanned aerial vehicles, also known as drones, presenting one of the biggest opportunities for Nevada.

Nevada, because of its narrow focus on three industries, was devastated by the recession and eventually led the nation in foreclosures and unemployment. As both the director of the Governor’s Office of Economic Development (GOED) and a resident of Nevada, Steve Hill believes there is a rising wave of economic development diversifying an outdated and vulnerable economy built on … [Read more...]

Connecting the Dots: Nevada’s Place in the Global Economy

In Nevada where the need to diversify the economy continues even as recovery takes hold, increasing the businesses that export could bolster the economy.

Ninety-six percent of the world’s population lives outside the U.S. Yet only 1 percent of American businesses export their products and services. In countries like Germany and Japan, some 40 to 60 percent of GDP is in export. Still, our 1 percent translates to trillions of dollars coming into the U.S. economy, according to Randy Innis, chair, Nevada District Export … [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...]

Getting There: Transportation in Nevada

Transportation in Nevada

Nevada is a hub state, with easy access and distribution from both ends of the state to the Western states. Northern Nevada offers access by roadways, railways and an international airport as well as additional airports in surrounding areas. Southern Nevada offers ground access to Los Angeles, Phoenix, Salt Lake City and points south. The state’s business friendly tax climate … [Read more...]