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
Southern 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 Office Summary:Third Quarter 2021
Northern Nevada By Colliers Reno Reno’s office market saw increased leasing activity in the third quarter of 2021 with nearly 40,000 square feet of positive net absorption, the highest the market has experienced in five quarters. Recovering demand for office space has driven year-to-date net absorption to 58,565 square feet. Strong tenant demand this quarter pushed market … [Read more...] about Commercial RE Report Office 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
Southern Nevada Gets a Strong Start in 2017
LAS VEGAS - Southern Nevada’s commercial real estate extended its recovery and expansion in the first quarter of 2017. The industrial market began what by year’s end should be one of its largest expansions ever, the office market saw its recovery continue apace and the medical office market also saw conditions improve. Only the retail market suffered a set-back, and this … [Read more...] about Southern Nevada Gets a Strong Start in 2017
Grand Opening of New Goodwill Retail Store & Drive Thru Donation Center in Henderson
Goodwill of Southern Nevada announces the grand opening of the nonprofit’s second Henderson location at 1451 S. Boulder Highway, Henderson, NV 89015 at E. Horizon Drive on Friday, February 3, 2017 at 9 a.m. A brief ribbon cutting ceremony and presentation featuring a Goodwill team member who has overcome incredible odds will be held inside the store at 8:30 a.m. Media are … [Read more...] about Grand Opening of New Goodwill Retail Store & Drive Thru Donation Center in Henderson
Commercial Real Estate Market In Southern Nevada Making Progress, With Lagging Office Market Starting To Bounce Back
LAS VEGAS – A report released by Xceligent and the Commercial Alliance Las Vegas (CALV) shows the commercial real estate market in Southern Nevada making steady progress during the third quarter of 2016. “As we’ve been saying for some time, the local commercial real estate market continues to make slow and steady progress, although we still have sectors that haven’t fully … [Read more...] about Commercial Real Estate Market In Southern Nevada Making Progress, With Lagging Office Market Starting To Bounce Back