Northern Nevada By Gary Tremaine & Amanda Brierton, Dickson Commercial Although 2021 ended with a large increase in volume (almost $200 million) investment activity in the first quarter dropped back down to $45 million in sales transactions to start the year. Which is more consistent with previous quarters going back 24 months. Redevelopment projects were a theme … [Read more...] about Commercial RE Report
Northern Nevada
Commercial RE Report: Industrial SummaryQ4 2021
Northern Nevada By Angel Orozco and Garrett Shutt, CBRE The Reno Industrial market has experienced exponential growth throughout 2021. The region has consistently been a target for large corporate manufacturing and distribution sites, but the pandemic has sky rocketed demand with no signs of stopping. The lack of Class A and B product in the market, led to a rise in … [Read more...] about Commercial RE Report: Industrial Summary
Commercial RE Report: Industrial SummaryThird Quarter 2021
Northern Nevada By CBRE | Reno The northern Nevada industrial market continued to post strong market fundamentals in Q3 2021. Net absorption for the quarter reached 1 million SF, representing the ninth quarter in a row where net absorption totaled more than positive 800,000 SF. The market wide vacancy rate continues to plummet, ending Q3 2021 at 2.1 percent, down 120 … [Read more...] about Commercial RE Report: Industrial Summary
Commercial RE Report: Retail SummarySecond Quarter 2021
Northern Nevada By Dickson Commercial Group Retail had another strong quarter with Q2 total sales at nearly $48 million over 23 total sales. The average price per square foot in the first quarter was $356.76 with two sales over $1,000 per square foot. No neighborhood centers have traded hands in the first two quarters of 2021. The market has limited inventory and … [Read more...] about Commercial RE Report: Retail Summary
Higher EducationA Cornerstone of Nevada’s Recovery
Nearly 20 years ago, economic development officials in Nevada wondered what the state could do to attract employers in the fast-growing biotechnology sector. Industry officials told them flat-out that Nevada simply didn’t have the skilled professional workforce to support biotechnology companies. Flash forward to this spring, when StemExpress announced plans to launch a … [Read more...] about Higher Education
Commercial RE Report: Retail SummaryFirst Quarter 2021
Northern Nevada By Dickson Commercial Group Retail had a strong start to the year in Q1 with $40,203,740 in total sales volume and 19 total sales. The average price per square foot in the first quarter was $347.20 with two sales over $1,000 per square foot. No neighborhood centers traded hands in the first quarter. The market has limited inventory and single … [Read more...] about Commercial RE Report: Retail Summary
Power Poll 2021Everything has Changed
In the last year, there have been significant changes to nearly every aspect of daily life. It seems no one was unaffected by the COVID pandemic that swept the world. Activities that were once taken for granted have now been limited or, in some cases, are simply gone. From new technologies to accommodate work from home to mask mandates and supply shortages, everything has … [Read more...] about Power Poll 2021
Under ConstructionTransportation Projects are in the Pipeline
So much transportation-related construction will be underway in Nevada this year that one of the most closely watched initiatives is one that puts technology to use to reduce the frustrations faced by motorists stuck in construction delays. Several of the state’s most-traveled intersections — the Centennial Bowl and the Interstate 15 Tropicana Avenue interchange in Las Vegas, … [Read more...] about Under Construction
Commercial RE ReportIndustrial Summary First Quarter 2021
Northern Nevada By CBRE Reno The northern Nevada industrial market continued to build off its momentum from the previous year by posting strong market fundamentals again in Q1 2021. Gross absorption for the quarter reached 1.9 million square feet (SF). Net absorption was also robust, posting a positive 1.3 million SF. Low vacancy rates have allowed for sizable increases … [Read more...] about Commercial RE Report
Nevada UtilitiesConservation & Creativity
Despite COVID-19 shutting down business as usual, Nevada utilities companies grew over the past year. New customers signed on. New pilot programs started up. New agreements between agencies were entered into. New sources for commodities and renewable resources were found. Disconnects for nonpayment were suspended in response to the pandemic. “Utilities in Nevada have been … [Read more...] about Nevada Utilities
Economic Forecast 2021Recovery vs. Recession
February 2020: Nevada’s economy was at a peak. Unemployment stood at 3.6 percent. The state led the nation in new job creation. March 2020: Governor Sisolak ordered all nonessential businesses to close and Nevada entered the worst recession since 2008. In two months, 280,000 Nevadans lost jobs. The COVID-19 recession was a faster, larger drop than the Great Recession, … [Read more...] about Economic Forecast 2021
Last WordWhat Advice would you give your Teenage Self?
Matt Herrick Principal Hydrogeologist, Division ManagerNorthern Nevada, Broadbent & Associates “There is a balance one should aspire to achieve between the drive to realize personal goals and patience. Spend more time observing and listening to others. Enjoy life, it is a wild ride!” Kris Cuaresma-Primm Las Vegas General ManagerHomie “Fail early. Fail … [Read more...] about Last Word
Park Place Infiniti Sponsors Smiles for Survivors; Governor Approves Solar Tax Incentives
Park Place Infiniti Sponsors Smiles for Survivors Park Place Infiniti is sponsoring the fourth annual Blow Out Breast Cancer event, presented by the Smiles for Survivors foundation and Square Colour Salon and Spa. [Read More...] Governor’s Office of Energy Approves Solar Tax Incentives Highlighting its commitment to renewable energy in Nevada, the Governor’s Office of Energy … [Read more...] about Park Place Infiniti Sponsors Smiles for Survivors; Governor Approves Solar Tax Incentives
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 greater 0.7 percentage points. The latest market activity suggests the retail sector … [Read more...] about Retail Summary: Fourth Quarter 2012
Nevada Executives Speak Out: Power Poll 2013
As the Silver State struggles to pull itself out of the worst recession many Nevadans have seen in their lifetime, executives are beginning to see a light at the end of the tunnel. This year marks the eleventh annual Power Poll wherein Nevada Business Magazine asked executives throughout the state to speak up on issues that affect their businesses. This year’s poll illustrates … [Read more...] about Nevada Executives Speak Out: Power Poll 2013