The construction workers who left Nevada during the darkest days of the recession are coming back. However, construction executives are beginning to worry — not a lot, but a little — whether the flow of workers will be enough to meet the needs of an industry that’s recovering quickly. Some executives, in fact, have said they’re already beginning to bump into tight … [Read more...] about Building & Development: A Rebounding Industry
Building Nevada
Office in Nevada: A Perspective Shift
Nearly a decade after the recession left yawning vacancies in office properties across Nevada, buildings are finally beginning to fill. Whether the rising occupancy justifies speculative new development — particularly in the Las Vegas area — remains an open question. Applied Analysis estimates the office vacancy rate in Southern Nevada stood at 19.8 percent in the first … [Read more...] about Office in Nevada: A Perspective Shift
Covering Your Assets: Commercial Real Estate Title Insurance in Nevada
Commercial title insurance protects buyers and investors against loss if a problem arises with their non-residential transaction. Coverage protects against loss for the owner and the lender if there’s a problem with the title. Commercial real estate title insurance covers apartments and office buildings, retail development and industrial facilities, investors, … [Read more...] about Covering Your Assets: Commercial Real Estate Title Insurance in Nevada
Live-Work-Play Repeat: Mixed-Use Projects Regain Traction
The 45-acre site of the former Park Lane Mall in Reno—about seven times the size of Reno’s Greater Nevada Field ballpark—has sat vacant for ten years but now is about to get made over into a development encompassing residential, retail and commercial components. As of mid-April, ground was slated to break soon on the infrastructure, then the 1,260 apartments to be followed … [Read more...] about Live-Work-Play Repeat: Mixed-Use Projects Regain Traction
Developing Big Boxes: Growth in Nevada’s Industrial Market
That sound that developers of industrial properties hear in the background is the ticking of the clock counting down the longest-lived economic recovery since World War II. But although the ticks are growing louder, demand for space from new and expanding industrial companies keeps developers busy in Las Vegas and Reno alike. The reasons for the boom are a well-told … [Read more...] about Developing Big Boxes: Growth in Nevada’s Industrial Market
Nevada Land: Priorities for Today in Planning for Tomorrow
Protecting counties from restrictive federal land policies, potentially transferring U.S. government-owned land to the state, creating state parks. These and other current land matters in Nevada, some in the courts, some ongoing, many controversial, are numerous. That is, in large part, because the state contains the highest percentage of federally owned and managed land, 87 … [Read more...] about Nevada Land: Priorities for Today in Planning for Tomorrow
Spending Power: Nevada’s Retail Market
With the peak holiday spending in their rearview mirrors, Nevada retailers say they are cautiously optimistic about continued growth in 2017. “Retail is trending positive. I’m conservatively bullish and would be happy with one to two percent growth next year,” said Kevin Budny, senior general manager of the Galleria at Sunset in Henderson. “We were comparable to 2015 this … [Read more...] about Spending Power: Nevada’s Retail Market
Carefully Planned: Architects and Engineers in Nevada
Like the fellow who narrowly escaped drowning, executives of architectural and engineering firms in Nevada are really cautious as they venture back into the water. Obviously, industry executives are thrilled they’re landing a steady stream of new work as the development and construction sectors come back to life but, they’re wary of once again getting into deep water too … [Read more...] about Carefully Planned: Architects and Engineers in Nevada
Nevada’s Industrial Future: Two Parks Hold Great Promise for the Silver State
“It was the best of times, it was the worst of times” applies to Nevada’s tale of two industrial parks, one in the north and huge, the other in the south and a fraction of the size. Though the genesis of both took place at about the same time, in the late 1990s, their courses differed radically due to various circumstances of ownership, place and time. Today, the one with 17 … [Read more...] about Nevada’s Industrial Future: Two Parks Hold Great Promise for the Silver State
A Place to Live: Nevada’s Residential Market
Call it flattening or softening or just call it a leveling off – Nevada’s housing market seems to have found an even keel in the second half of 2016, and most professionals in the industry are calling that a good thing. After the housing bubble hit Nevada in the early 21st century when demand outstripped supply and prices rose over weekends and overnight, the inflationary … [Read more...] about A Place to Live: Nevada’s Residential Market
Lean Construction: Slow-Growing Nevada Trend
On Nevada Day at the end of this month, Valley Health System will open Henderson Hospital, its sixth hospital in Southern Nevada. VHS’ parent company Universal Health Services Inc. began the 130-bed, 247,000-square-foot facility project in May 2014. At that time, the corporation and the group of design and construction service providers chosen for the endeavor set the primary … [Read more...] about Lean Construction: Slow-Growing Nevada Trend
Commercial Builders: The Rebound and the Growing Pains
Whereas Nevada’s commercial construction industry was all but dead five years ago, today it’s alive, with activity edging up. “We are finally in a period of growth. A lot more work is happening,” said Mac Bybee, president, Associated Builders and Contractors Inc. (ABC), Nevada Chapter, a statewide trade association that provides training, apprenticeship programs, government … [Read more...] about Commercial Builders: The Rebound and the Growing Pains
Beyond the Bank: Financing Commercial Real Estate in Nevada
Commercial real estate means office buildings, retail and industrial properties, multi-family projects and the raw land that eventually becomes all of the above. Commercial real estate financing is equally varied and includes everything from traditional bank-backed loans to newer twists such as crowdfunding. Finding Funding There are a variety of sources of lending, … [Read more...] about Beyond the Bank: Financing Commercial Real Estate in Nevada
Business on the Move: Office Market in Nevada
As election jitters continue to dominate the news cycle, the status of the national economy appears to be just so-so in the minds of many business leaders. With only 38,000 jobs added in May, according to the latest U.S. Department of Labor statistics, the overall national employment situation is not as strong as most people would like. Having survived the steep highs and lows … [Read more...] about Business on the Move: Office Market in Nevada
Property Management: Industry Grows as Commercial Real Estate Rebounds
Nevada’s real estate markets continuing to rebound is great news for commercial property managers, as it translates into more and more work to go around. Property management firms generally have been getting busier over the last one to two years. Avison Young’s team in Las Vegas, for example, now manages 3.4 million square feet for 30 clients. Gaston & Wilkerson Management … [Read more...] about Property Management: Industry Grows as Commercial Real Estate Rebounds