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...]

Nevada Real Estate & Development Report: March 2014

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

E Lease, Industrial ADDRESS 4935 Steptoe St. Ste 500, 89122 TENANT Charming Exhibition Inc. LANDLORD Lomas Regency LLC DETAILS 5,850 SF; $22,464 for one year REP (BOTH) Jarrad Katz, CCIM and Galit Kimerling of MDL Group H Project, Office ADDRESS 875 Warm Springs Rd., 89011 DETAILS Cadence, the 2,200-acre planned community in Henderson has begun… [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...]

Las Vegas High Rise Enjoys Record-Breaking Year

Las Vegas high rise One Queensridge Place saw a year-over-year increase in residential transactions of more than 300 percent. Queensridge Properties, LLC recently announced the sales figures at the two luxury towers, which are located near the western edge of the Las Vegas Valley. The company was involved in 55 transactions exceeding $100 million in… [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...]

Panattoni Announces New Reno Development Manager

Panattoni Development Company announced the addition of Paul Kinne as the company’s development manager for its Reno office.

RENO, Nev. – Panattoni Development Company announced the addition of Paul Kinne as the company’s development manager for its Reno office. Kinne is tasked with many responsibilities, including managing the development of industrial and office properties, coordinating aspects of land acquisition, managing project construction budgets and underwriting development feasibility. His position also entails negotiating lease, purchase… [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...]

Non-Residential Real Estate Holdings Down, Residential Up Among Affluent Nevadans

Holdings in non-residential real estate have given way to more residential investments among affluent Nevadans in recent decades. However, this trend may change according to the 12th edition of the “High Net Worth Report” by The Private Bank by Nevada State Bank. Currently, close to 19 percent of households in the top 10 percent of… [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...]

Nevada Real Estate & Development Report: November 2013

Read the Nevada Real Estate and Development Report: November 2013 - Commercial real estate and development - projects, sales, and leases.

Projects Las Vegas, 89109 Tutor Perini Building Corp. has begun construction on the third phase of the Marriott’s Grand Chateau, the first vertical construction to occur on the Las Vegas Strip since 2008. Construction is projected for completion mid-2014, and will add 233 tower villas for a total of 643 units at the timeshare resort.… [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...]

Builders & Developers: Resurgence in the Market

Commercial builders and developers in Nevada are moving ahead – not as robustly as they would like, to be sure – with projects in a variety of segments.

Commercial builders and developers in Nevada are moving ahead – not as robustly as they would like, to be sure – with projects in a variety of segments. John Restrepo, the principal of RCG Economics LLC in Las Vegas, has observed that Southern Nevada’s three major commercial markets – industrial, office and retail – are… [More...]

Nevada Real Estate & Development Report: October 2013

Nevada ReD Report October 2013: Commercial real estate and development - projects, sales, and leases.

Projects Henderson, 89052 Hospital Burke Construction has begun construction on the Seven Hills Behavioral Institute Expansion project. Plans for the project include the conversion of an existing one story, 15,000 SF office building to an institutional occupancy building. Upgrades will provide additional space for 36 new inpatient psychiatric beds located within two nursing units. The… [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...]

Nevada Real Estate & Development Report: September 2013

Nevada ReD Report September 2013: Commercial real estate and development - projects, sales, and leases.

Projects Las Vegas, 89129 Government J.A. Tiberti Construction has completed renovations on the Durango Hills Water Resource Center. Facility improvements totaled $9.1 million and included construction of two new 8,800 SF structures. The water center was kept open during the 13-month project. MWH Americas served as architect of record. The facility is located at 3271… [More...]

Office Summary: Second Quarter 2013

A look at the Nevada commercial real estate office market summary: Second Quarter 2013.

Southern Nevada The office sector vacancy rate fell slightly during the second quarter of 2013, but remains elevated. The rate fell to 26.0 percent by the end of the quarter, down 20 basis points (0.2 percentage points) compared to the prior quarter (Q1 2013). However, compared to a year ago (Q2 2012), the vacancy rate… [More...]

Industrial Summary: Second Quarter 2013

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

Southern Nevada The Las Vegas industrial market vacancy rate fell to 16.2 percent, which is its lowest level in more than two years. Compared to the prior quarter (Q1 2013), the vacancy rate fell 30 basis points (0.3 percentage points), while it is down 130 basis points (1.3 percentage points) from the prior year period… [More...]

Nevada Real Estate & Development Report: July 2013

Nevada ReD Report July 2013: Commercial real estate and development - projects, sales, and leases.

Projects Las Vegas, 89101 Government Las Vegas’ new City Hall has been chosen as the 2013 Public Works Project of the Year by the American Public Works Association. The eight-level, 308,000 SF building replaces the former City Hall that was constructed in 1971. The facility created office space for up to 570 staff members for… [More...]

Retail Summary: First Quarter 2013

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

Southern Nevada Vacancies in the retail sector reported a modest quarter-over-quarter increase to 9.8 percent in the first quarter of 2013. Although up 10 basis points (0.1 percent) compared to the prior quarter (Q4 2012), vacancies remain down 60 basis points (0.6 percent) from a year ago (Q1 2012). Two projects for specific users completed… [More...]

Nevada Real Estate & Development Report: June 2013

Cold Chain Technologies leased 42,500 SF from Panattoni Development for $790,500 on a five-year lease.

Projects Las Vegas, 89119 Government Whiting-Turner Contracting is constructing a 6,460 SF, open-air transit center at UNLV. The project will include several bike racks and an outdoor waiting area with shade and shelter canopies. The facility is designed by KGA Architects and G.C. Wallace will serve as engineer on the project. Construction of the transit… [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...]