The Decision Maker's Magazine
Until recently, the term “medical tourism” largely referred to Americans traveling out of the country looking for affordable healthcare in technologically advanced but less expensive venues, from Mexico to Thailand and parts in between. Now the term is starting to come home, often referring to domestic travel of American citizens within U.S. borders, traveling to find the … [Read more...]
As Nevada’s economy picks up the pace, businesses are returning to Nevada and Nevada is returning to business – mostly. In Southern Nevada there’s no real wage growth, gaming revenues are down, home sales are slowing. At the same time, industrial property vacancies are dropping, flex space rents are low but flex spaces themselves are filling, and big box industrial space is … [Read more...]
With a New Year upon us, real estate brokers and developers are dampening their expectations for the retail market in Nevada over the next couple of months and for the rest of 2015. Nevertheless, all of them see positive trends for the market and some reason to remain optimistic. “We are clearly in a recovery,” said Brendan Keating, principal with The Equity Group in Las … [Read more...]
As a mixture of economic indicators appear to show the recession in our rear view mirrors, movers and shakers in Southern Nevada’s office market are cautiously planning ahead for slow and modest growth in the coming months. “The trending is moderate growth overall due to a bettering economy,” says Lance Bradford, founder of Stable Development in Las Vegas. “There are … [Read more...]
When Tina Quigley became general manager of the Regional Transportation Commission of Southern Nevada (RTC) she and her team went promptly to talk with officials in metropolitan areas where they’ve created transportation plans that were both funded and built, and had community support behind them. The common message from leaders in those communities was that even a public … [Read more...]
As the nation’s recession continues to drift further into the distance, the commercial real estate market is enjoying a healthy rebound. This means more commercial property owners are on the hunt for experienced property management companies to protect their investments. During the height of the economic downturn, Nevada’s real estate industry was on the receiving end of … [Read more...]
Demand for land in Nevada has resembled a rollercoaster pattern this decade. During the real estate boom in the first half of the 2000s, both residential and commercial developers hungrily purchased land, driving up prices. With the recession, the opposite happened; development nearly ceased, land demand decreased and so did the price. Again, the pendulum has begun to swing … [Read more...]
For the last two years, Nevada’s residential housing market has seen substantial rebound, with significant effect on prices. Lowered median home prices have created low inventory and a seller’s market, which in turn impacted distressed properties and neighborhoods. “People are a lot smarter today, having learned from mistakes that occurred in the market; buyers are much … [Read more...]
Some things that don’t change in healthcare: the importance of patient outcome, patient experience, patient compliance and patient ability to pay for services. Other things in healthcare are changing rapidly: bio-engineered medications to treat specific patients, imaging devices take the place of exploratory surgery, the model for healthcare, the way hospitals are reimbursed … [Read more...]
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...]
Nevada’s skyline is once again changing. Commercial real estate, which saw many projects stalled mid-recession, is finally moving: contractors are hiring and builders are returning. But is there activity across the board in all industry sectors – industrial, office, retail, mixed-use – or are some moving faster than others? Does it spell recovery? Or another boom and bust … [Read more...]
The construction industry continues to be the barometer for the severity of Nevada’s economic plight, but commercial real estate in particular is making enough improvement to spark interest from investors and private parties looking to benefit from the historically low interest rates. This means banks and other real estate lenders are revving up business again. Economic … [Read more...]
While a noticeable lack of silver in the Silver State has put the pinch on residents and businesses in recent years, one of the few industries to have thrived has been debt collections. As a result of the state’s heavily touted, sky-high unemployment rates, we've seen explosive growth not only in foreclosures but also in household debt. According to Consumer Reports, in … [Read more...]
It may not usher in the booming economy that Nevadans were basking in just a short decade ago, but architects and engineers around the Silver State say they expect to see the appearance of a light at the end of the recession tunnel this year. “The outlook looks quite good. There was almost a stop in commercial construction and we’re seeing it pick up in almost every aspect,” … [Read more...]
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...]
In Nevada, six constitutional officers comprise the state government’s executive branch. They are the governor, lieutenant governor, attorney general, secretary of state, state treasurer and state controller. All are elected to four-year terms and may serve a maximum of two terms. Next year, Nevadans will vote for all positions but governor. The primary obligation of these … [Read more...]
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 “moderately improving, although the overall numbers and … [Read more...]
Nevada’s retail industry, both from the brokerage and the retailer’s side, is guardedly optimistic. The optimism is driven by general economic indicators coupled with national retailer behaviors and Nevada sales performances in 2012. Let’s Go Shopping When locating stores, retailers look at sales performance in a city. “We’re seeing sales performance continue to increase in … [Read more...]
Downtown is the heart of a city. Traditional wisdom states that a healthy center reflects a healthy community. For a city to thrive and prosper, downtown needs to be a draw for visitors and residents alike. Economically, a robust, vital midtown attracts businesses, which in turn employ residents and pumps money into the economy. A healthy downtown creates sustainability, as … [Read more...]
In an effort to diversify Nevada’s economy away from over reliance on travel and tourism, hospitality and gaming, economic development authorities throughout the state continue to work to find the perfect industries for Nevada’s business-friendly tax climate, wide-open spaces, multi-modal transportation systems and easy access to the 11 western states. In 2011, the … [Read more...]