Like roadsters cruising across the desert at 80-something mph, Nevada’s architectural and engineering firms slammed hard on the brakes when the COVID-19 pandemic threw up a roadblock last spring. Now that traffic is moving again, some lanes are moving faster than others. Business is recovering at most firms, but executives don’t expect a full recovery until … [Read more...] about Architects & Engineers
Building Nevada
Commercial Builders in NevadaWeathering the Storm
Nevada’s commercial builders — the companies that build about everything except single-family houses — weathered the first months of the COVID-19 pandemic in passably good shape. But, questions linger about how well the industry will fare if the state’s economy remains weak into the early days of next year. After some bumps during the worst of the pandemic’s early days, most … [Read more...] about Commercial Builders in Nevada
Waiting for the Dust to SettleRetail in COVID-Nevada
The future of retail arrived with an unexpected, massive thunderclap this spring. Now retailers, shopping center developers and real estate brokers who specialize in commercial properties are looking over a landscape dramatically changed by the COVID-19 pandemic, identifying winners and losers and making predictions about the future of retail as it continues to unfold. Nobody … [Read more...] about Waiting for the Dust to Settle
Uncertain TimesMultifamily in Nevada
April was set to be yet another busy month for sales of apartment complexes in Nevada, one of the hottest multifamily markets in the country. And then, all of sudden, it wasn’t. After state and local governments mandated business closures — with resulting job losses — to battle the COVID-19 pandemic, multifamily investors, developers and managers stepped back … [Read more...] about Uncertain Times
Nevada’s Title IndustryOn the Sidelines
Ask Robert Ray how Nevada’s title industry from a commercial real estate perspective is doing amid the coronavirus pandemic, and you’ll get a mixed response. In the title business for 25 years, and senior vice president, manager of Fidelity National Title Group in Las Vegas, Ray is anxious to see how the industry recovers as businesses begin to reopen and employees begin … [Read more...] about Nevada’s Title Industry
Supply & DemandNevada’s Industrial Market
The demand for industrial space has been extraordinarily strong in Nevada throughout this economic expansion and is expected to stay consistent throughout the rest of this year and into 2021, according to real estate professionals throughout the state. Originally, a decline in demand was expected due to the country’s trade war with China, but with trade tensions easing that … [Read more...] about Supply & Demand
Building the FutureWhere Technology and Commercial Real Estate Meet
Design, build, use: that’s the life cycle of commercial real estate (CRE) buildings. Technological advances are changing the way things are done in every industry. For commercial real estate, the changes are apparent in every step, from surveying a site to leasing the building. Even the way tenants utilize the space once they’re in those buildings has changed. Technological … [Read more...] about Building the Future
Promises and PitfallsGovernment Projects in Nevada
As privately-funded construction booms around Nevada, projects from public agencies are adding fuel to the already hot market. But contractors eyeing big public works jobs in the pipeline find themselves dealing with new, sometimes troublesome rules. The stakes are high with a lot of big construction contracts in the pipeline. Follow the Funds A $347 million plan for … [Read more...] about Promises and Pitfalls
Office ProjectsFor a New Generation
The signals to office developers to develop are typically simple. Economic growth creates demand for office space, existing buildings begin to fill, rents rise and developers can make new projects pencil out. That’s happening, sort of, across Nevada these days. Vacancy rates in office buildings have fallen to about 12 percent in Las Vegas and about 11 percent in Reno, and … [Read more...] about Office Projects
Stable and SustainableNevada’s Residential Market
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
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
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 employees they don’t realize they have. Every industry has … [Read more...] about Safety on the Job
Trending UpMulti-Family in Nevada
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 Clark County multi-family developments since 1986, and he’s cautiously optimistic … [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
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 Nevada during the Great Recession that began in 2008. … [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
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 it’s hard to keep up with the current demand. There’s a lack of speculative development, … [Read more...] about The Industrial Revolution