Nevada’s residential housing should be stabilized and sustainable throughout 2020. Despite a relative lack of inventory and as potential homebuyers continue to flock to northern and southern Nevada alike, multiple Nevada real estate executives said they believe the housing market will settle into a groove. “For the first time in 13, 14 years, I can use the words stable … [Read more...] about Stable and Sustainable
Building Nevada
Strategic PlaysGolf Course Communities Widen Amenities
A successful luxury golf course community these days really isn’t about the golf, explained Rich MacDonald. Instead, the owner of DragonRidge Country Club in Henderson said the golf communities that thrive are those that deliver opportunities for strong social connections — times for members to mingle over a glass of wine, share a laugh over a good dinner, stretch during a … [Read more...] about Strategic Plays
RetailFocus on the Experience
Once upon a time — say, 10 years ago — retail was all about selling stuff. But as the business of selling stuff continues to move online, the word of the moment among retailers and shopping center owners is “experience.” “Experience is a big part of what retailers are looking to incorporate now, whether this is in the form of innovative interiors, games or mobile pickup,” … [Read more...] about Retail
Safety on the JobPractices and Procedures
Benjamin Bojda, Dominion Environmental | Photo by Victor Bernard Every Nevada employer is responsible for making certain their employees are trained in safety procedures and covered by workers’ compensation insurance. Every business with even one employee is required to carry workers’ comp insurance and has a legal and moral responsibility to keep employees safe – even those … [Read more...] about Safety on the Job
Trending UpMulti-Family in Nevada
Devin Lee, NorthCap Commercial | Photo By Victor Bernard and Jerry Gallagos Multi-family developers in Nevada are convinced a strong trend in the segment will continue for the foreseeable future. The U.S. is in the longest economic expansion in history and with it has brought a boom in multi-family developments in Nevada. David Picerne has been involved in … [Read more...] about Trending Up
Entitlements and ZoningGetting Through the Process
Some industry-specific terms become part of the general language even when not everyone can define them. Most people understand what zoning means. But ask a handful of representatives from different government entities how their entitlements process works and most will respond with, “What do you mean by entitlements?” Clarifying the Term “You own a piece of … [Read more...] about Entitlements and Zoning
Lending BoomCRE Financing in Nevada
Sandy Gordon: Nevada State Development Corporation Developers of commercial projects in Nevada these days are likely to field calls from a growing number of lenders eager to make loans to build or buy office buildings, retail centers and industrial projects in the booming state. But memories remain strong of the collapse of the commercial lending market in … [Read more...] about Lending Boom
Strong DesignArchitects and Engineers in Nevada
Even as the Las Vegas economy recovered from the Great Recession, Ed Vance and his architecture firm survived almost solely on the business from the Lucky Dragon. For two years during the project, Vance said projects were relatively hard to come by as developers weren’t quick to pull the trigger. Vance is adamant that all changed with the 2016 election. Since the election, … [Read more...] about Strong Design
Reshaping Commercial Real EstateBrokers in Nevada
Buying, selling and investing in commercial real estate isn’t the same today as it was 10 years ago, and 10 years from now it should be completely changed. “Technology is changing in our industry,” said Brendan Keating, CEO, Logic Commercial Real Estate. “So the way we have to approach business, we need to be thinking about our technology while we’re marketing. Technology … [Read more...] about Reshaping Commercial Real Estate
Mega ProjectsNevada’s Changing Skylines
Looming prominently across I-15 from the Strip, the future stadium of the National Football League’s (NFL) Raiders is well on its way to hosting its first game. Las Vegas Stadium is among several mega-projects currently under construction in Nevada and making their way into the Valley’s economic landscape. Other major projects include the expansion of the Las Vegas … [Read more...] about Mega Projects
The Industrial RevolutionNevada’s Commercial Real Estate Industrial Market
Larry Monkarsh | LM Construction & Brass Cap Development | Photo By Jerry Gallegos The industrial real estate market is humming along very well, but still experiencing a hangover from the Great Recession. Multiple Nevada real estate executives noted the strong performance of industrial real estate in both Northern and Southern Nevada, led by low vacancy numbers, but … [Read more...] about The Industrial Revolution
The Return of Office 2019Nevada’s CRE Office Industry
Nevada’s commercial real estate office market is healthy, but not considered robust. Hit hard during the 2008 recession, it’s good to see vacancy rates dropping and rents increasing, but there’s been very little new product built in the last decade, which accounts for at least some of the continuing drop in vacancy rates. “The office market is not where we’d like it to be, … [Read more...] about The Return of Office 2019
Mobile IndustryTransportation in Nevada
The future of Nevada’s business success could hinge on transportation infrastructure. According to multiple Nevada transportation officials, success with Nevada’s transportation likewise relies partially on the support of the Nevada business and real estate communities. “Communication with developers is critical,” said Rudy Malfabon, Nevada Department of Transportation … [Read more...] about Mobile Industry
Building Medical: Keeping Pace with Healthcare Growth
With Nevada’s two major metropolitan areas continuing to grow, the healthcare industry is trying to keep pace. Nevada’s health industry regularly gets low marks in rankings, including an “F” for accessibility. As Las Vegas and Reno continue to evolve, both cities are experiencing the medical industry’s attempt to catch up. That attempt is reflected in the real estate … [Read more...] about Building Medical: Keeping Pace with Healthcare Growth
Nevada’s Retail Industry: Going Strong, Evolving
During the recession, brokers across the board did what they could to stay busy, from cold calls to out-of-the-box solutions. Nevada’s retail market was no different. Christina Strickland, a CBRE Las Vegas senior associate who specializes in retail, no longer has to make cold calls to drum up business like she did during the recession. Now, she’s receiving calls, in abundance, … [Read more...] about Nevada’s Retail Industry: Going Strong, Evolving
CRE Financing: Evolving with Nevada’s Economy
A tremendous number of loans for commercial real estate (CRE) projects are being sourced and approved in Nevada in what’s described as a robust market being driven by industrial and multi-family properties. “We are seeing a good deal of industrial, including build-to-suit industrial and even some spec type industrial, and we’re seeing a lot of multi-family [apartments] and … [Read more...] about CRE Financing: Evolving with Nevada’s Economy
Commercial Property Management: Changing and Adapting with Nevada’s Economy
All three commercial real estate sectors – industrial, retail and office – are growing in Nevada, though at different speeds by sector and geography. Industrial is driving the growth, office is still lagging but beginning to grow and retail is returning as the economy continues to recover. Commercial real estate sectors might be experiencing growth, but investors, businesses … [Read more...] about Commercial Property Management: Changing and Adapting with Nevada’s Economy
On the Upswing: Builders & Developers Experience Growth
Nevada commercial developers and builders reported that their workloads are full, but not without challenges. “We’re busy. Busy’s good,” said Chet Opheikens, vice president, R&O Construction in Las Vegas. “Busy means we get to employ people. Employed people means community growth, which means increased morale and confidence, factors that allow for a strong … [Read more...] about On the Upswing: Builders & Developers Experience Growth
Balancing the Boom: How Utilities Strive to Keep Up with Developers
Nevada’s utility providers, facing a wave of requests from developers who need water, power and natural gas service for their projects, increasingly rely on digital solutions to help move applications along. At the same time, utilities emphasize one of the oldest strategies in the book to reduce the possibilities of delay. They encourage development teams to meet … [Read more...] about Balancing the Boom: How Utilities Strive to Keep Up with Developers
Nevada Brokers: The Ins and Outs of Commercial Real Estate
Both the Las Vegas and Reno commercial real estate markets are well balanced and healthy for the foreseeable future, but there may be trouble past the horizon. Real estate professionals in both cities echoed similar statements in regard to the health of the markets, but Providence Commercial Managing Partner Mike Montandon said a land shortage could loom in Las Vegas. … [Read more...] about Nevada Brokers: The Ins and Outs of Commercial Real Estate