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...]
Industrial Summary: Fourth Quarter 2016
Southern Nevada The Las Vegas Valley’s overall industrial vacancy rate in Q4, 2016 was 4.8 percent. Since Q3, 2015 the Valley’s industrial market rate has been at full occupancy and has been absorbing new space while remaking the existing inventory to accommodate larger space demand. Q4 saw 2,045,634 square feet of completed space, all of it in the warehouse/distribution … [Read more...]
Welcome to Nevada: January 2017
Amazon A new fulfillment center is under construction in North Las Vegas expanding Amazon’s presence in Southern Nevada. The company plans to open the facility by the summer of 2017 which will be operated by Amazon.com.kycd LLC, a subsidiary of Amazon.com. Plans for the new center include the hiring of 1,000 employees within the first few months with an average hourly wage … [Read more...]
Thanks to Capitalism, the Future Is Quickly Arriving
The future is apparently upon us. It’s true that we don’t yet have flying cars, cities built on clouds or Back-to-the-Future-style hover boards. But we are on the verge of having self-driving cars. And we already have telephones with more computing power than the system that successfully landed men on the moon. And now, thanks to retail giant Amazon, we will soon have … [Read more...]
Industrial Summary: Second Quarter 2016
Southern Nevada The Las Vegas Valley’s overall industrial vacancy rate in Q2, 2016 was 4.6 percent, a decline of 0.4 points from 5.0 percent in Q1, 2016. Q2’s decrease ended two quarters of increases in the industrial vacancy rate. However, with vacancies at low levels and positive economic trends, rate increases are currently more likely due to simple statistical … [Read more...]
ITS Logistics Launches New Website and Brand Refresh
RENO — Third-party logistics company, ITS Logistics, has launched a new website and brand refresh following the announcement of its large-scale move to a 630,000-square-foot campus in Sparks, Nev. Major changes to the website include a new responsive interface for potential clients to learn about the company's services and an aesthetic redesign to support its new branding … [Read more...]
Lisa Escobar’s ‘Big City Digs’ Pegged as Finalist for HGTV’s Fresh Faces of Design
Las Vegas native Lisa Escobar's "Asian High Rise Condo" design at The Residences at Mandarin Oriental on the Las Vegas strip is a finalist in HGTV's "Fresh Faces of Design" competition in the "Big City Digs" category. Escobar, a designer and stylist who launched Lisa Escobar Design three years ago, worked with a number of Las Vegas-based stores, retailers and companies as … [Read more...]
The Choice Union Members Don’t Know They Have: Why Employee Freedom Scares Union Bosses
Have you ever bought a new washer and dryer only to discover that the store down the street sold the same set for $750 less? It’s a frustrating experience to find out that you had better options than the ones you knew about. This is the situation that tens of thousands of Nevada union members unknowingly find themselves in. According to the Bureau of Labor Statistics … [Read more...]
Industrial Summary: Fourth Quarter
Southern Nevada The Las Vegas industrial market vacancy rate fell to 8.0 percent in the fourth quarter of 2014. The vacancy rate is down 3.6 percentage points from a year ago. Industrial vacancies have been in the single digits for three consecutive quarters with annual declines reported for 12 consecutive quarters. In addition, the vacancy rate has declined 9.0 percentage … [Read more...]
Welcome to Nevada: Tax Changes Looming
Nevada is well known as a corporate tax haven. Many large companies are incorporated in Nevada, particularly those whose headquarters are located in California, Arizona or Utah. There are several reasons for this. One is that Nevada law provides strong protections against holding corporation’s owners responsible for the actions of a corporation. Another reason has to do with … [Read more...]
September 2014: Around the State
Nevada Health Care Association Announces Restructuring Leadership at the Nevada Healthcare Association (NVHCA), which was established in 1974, has announced plans to restructure the organization into two divisions: the NVHCA and Nevada Assisted Living Centers (NVALC). The move is a direct result of NVHCA’s membership expansion which increasingly includes more assisted living … [Read more...]
