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...]

Nevada Homeowners Band Together for ‘Save My Community’ Initiative

Nevada Business Press Releases for March 19th

Nevada Homeowners Band Together for ‘Save My Community’ Initiative during 2013 Legislative Session (Las Vegas) — In an effort to get their voices heard about important bills that will affect their communities and futures, hundreds of homeowners have banded together to take part in a “Save My Community” coalition.  The Grassroots Initiative Committee, which has members… [More...]

Cornerstone Retirement Hosts Maximize Your Social Security Income Benefits Event

Nevada Business Press Releases for March 11th

Join leading industry expert Chris Abts to learn the strategies that may help you maximize your benefits- (Reno, Nev.) Chris Abts, President of Cornerstone Retirement, a northern Nevada based full-service financial planning firm, will host two free education events discussing maximizing Social Security Income benefits. The event will take place Wednesday, March 27, and Thursday,… [More...]

Nevada Executives Speak Out: Power Poll 2013

Nevada Power Poll 2013 - executives are beginning to see a light at the end of the tunnel.

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… [More...]

Technology: Wired Up and Ready to Go

The state of Nevada is building the future today by taking all the right steps to become a global technology leader in the year ahead.

With so much of America looking hopefully to the future, the state of Nevada is building it today by taking all the right steps to become a global technology leader in the year ahead. The technology sector in Nevada “has changed so much in five years,” says Dave Archer, President and Chief Executive Officer of… [More...]

Housing Market: Honing in on Homes

Nevada Housing Market Improving

With increasing sales and home values, Nevada’s housing market shows signs of recovery and strength not seen in recent years. “We’re on a good path right now,” said Patti Kelley, president of the Nevada Association of Realtors (NAR), a group that provides services to its members and advocates for private property rights. “We’re pulling out… [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...]

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… [More...]

Industrial Summary: Fourth Quarter 2012

Nevada Industrial Real Estate Report: Fourth Quarter 2012

Las Vegas With no completions during the quarter, the industrial market witnessed some increased demand, reporting approximately 32,000 square feet of positive net absorption. However, for the year, absorption remained negative with 243,700 square feet of net move-outs. Average asking rates remained flat at $0.51 per square foot per month for the fourth consecutive quarter.… [More...]

Retail Summary: Third Quarter 2012

Nevada Commercial Real Estate Report: Third Quarter 2012

Las Vegas While the vacancy rate in the Las Vegas retail sector remains elevated, it posted both consecutive-quarterly and annual declines during the third quarter of 2012. The market reported a vacancy rate of 10.2 percent during the third quarter, down 0.3 percentage points when compared to the prior quarter (Q2 2012). Compared to a… [More...]

Miller Industrial Properties Brings GE Capital’s 44,690 sf Reno, NV Property to 100 Percent Occupancy.

Nevada Press Releases for December 31st

(Reno, NV) Miller Industrial Properties has completed the lease‐up of GE Capital’s 1105 Rock Blvd., Brookside Project, Reno, Nevada. The 44,690 sf property is part of a 261,141 sf, 3 building complex, adjacent to the Reno‐Tahoe International Airport. The property is now fully long term occupied, according to Tom Miller, President of Miller Industrial Properties.… [More...]

2013 Economic Forecast: Watch for the Wild Card

2013 Economic Forecast: Watch for the Wildcard

As the end of 2012 nears, Nevada’s economy continues its gradual recovery, but the unemployment rate remains in the double digits and job creation is slow. What’s in store for the Silver State’s economy in 2013? Experts weighed in on their predictions for the coming year, which primarily are based on the performance of certain… [More...]

Office Summary: Third Quarter 2012

Office Summary: Third Quarter 2012

Las Vegas The office sector witnessed a quarter-over-quarter decline in vacancy rates for the first time in two years. During the third quarter of 2012, the vacancy rate fell to 25.2 percent, down 0.4 percentage points compared to the prior quarter (Q2 2012). However, the rate remains 0.3-percentage points higher than a year ago (Q3… [More...]

Healthcare Check-Up: Meeting the New Challenges


There’s no shortage of uncertainty swirling around Nevada’s healthcare industry: from the challenges of the local and national economies to insurance regulations and the implications – even the contours and very existence — of Obamacare. The outlook, however, is decidedly optimistic. And with good reason. “One of the advantages of healthcare is that it’s been… [More...]

See You Next Year in Nevada! Corporate Meetings and Conventions


In 2011, almost 40 million people visited Las Vegas. Of those visitors, nearly 5 million were attending conventions and corporate meetings. In 2011 alone there were 19,029 conventions held in Southern Nevada, according to the Las Vegas Convention and Visitors Authority (LVCVA). In total, Southern Nevada offers about 2.6 million-square-feet in convention and meeting space,… [More...]

Northern Nevada: Hard Work Pays Off


Northern Nevada has earned its developing economic comeback the old-fashioned way: building on its strengths, looking to the future and taking common sense steps to coax and reward entrepreneurialism and innovation. It’s paying off. “There’s a lot going on,” says Rob Hooper, Executive Director of Northern Nevada Development Authority (NNDA), the Economic Development Authority for… [More...]

The Survivors: Builders and Developers in Nevada


The economic downturn in 2007 left both residential and commercial developers and builders in the Silver State scrambling for work. Many were forced to downsize their staffs, and some even closed their doors. “Since 2008, the development business has been a fraction of what it was,” said Doug Kiersey, president of Dermody Properties, a Reno-based… [More...]

Gaming: Betting on a Comeback


Nevada’s gaming industry today continues to recover, with some regions faring better than others. “Both Southern and Northern Nevada markets are struggling right now,” said John Farahi, CEO of Monarch Casino & Resort Inc., which owns Atlantis Casino Resort Spa, in Reno. State gaming revenue has been picking up slowly since it took about a… [More...]

Office Summary: First Quarter 2012

A commercial real estate report on the office market for both Northern and Southern Nevada for First Quarter 2012

Las Vegas The office sector continues to remain fragile with further reductions in pricing amid relatively little change in the vacancy rate. The vacancy rate remained flat from the prior quarter at 25.2 percent (13.1 million square feet) by the close of the first quarter of 2012. On a year-over-year basis, the vacancy rate has increased 1.5 percentage… [More...]

The Economics of Art: Nevada’s arts and culture

Oscar Goodman

Financial challenges experienced by Nevada residents are mirrored by Nevada arts and culture organizations. During the economic downturn Nevada is still working to bounce back from, some Nevada arts organizations have thrived, some have come into being and some have closed their doors. While going through a recession, the arts may seem like a luxury… [More...]

Industrial Summary: Fourth Quarter 2011

Nevada Industrial Summery: Fourth Quarter 2011

Las Vegas The Las Vegas Valley industrial market continues to report rising vacancies and further pricing adjustments. The vacancy rate moved upward to 19.0 percent as 418,900 square feet of negative net absorption was reported during the first quarter of 2012. For comparison purposes, the vacancy rate is up 0.4 percentage points from the previous… [More...]

Tourism: Welcome Back


Nevada’s travel and tourism industry employs one-third of the state’s population. From hospitality to gaming and from the “What happens in Vegas Stays in Vegas” campaign to Northern Nevada being America’s Adventure Place, the Silver State has been promoted as a world class destination. At the same time, “diversify” has become the State’s battle cry… [More...]