The office space component of Nevada’s commercial real estate market faces a long recovery following the recession. Vacancy and unemployment rates were high, inventory was excessive and landlords struggled to effect leases. In addition, after the recession new construction activity and investor property acquisitions had ceased. Typically, the sector tends to be the last to … [Read more...] about Nevada’s Office Space: Positive Headway
Applied Analysis
Mining: It’s About More than Gold
The value chain for Nevada’s roughly 20 metals and minerals begins with companies mining the resources. This benefits the miners and their employees monetarily and the communities around those mines where dollars are spent, donations are made and other commitments are carried out. Mining firms require goods and services at each stage of their process—exploration, … [Read more...] about Mining: It’s About More than Gold
Around the State: June 2015
U.S. Trade and Development Agency Partners with Nevada Industry Excellence Nevada Industry Excellence (NIE), a resource for manufacturing businesses, has partnered with the U.S. Trade and Development Agency (USTDA) through the Making Global Local program. The program connects companies to USTDA’s export promotion programs. ArrowData Receives FAA Approval to Operate Drones for … [Read more...] about Around the State: June 2015
Nevada State Bank Hosts Webinar Series “2015 Small Business Outlook”
LAS VEGAS – Nevada State Bank’s recently published annual survey of small businesses in Nevada has sparked a lot of conversation among small business owners and those who do business with them. This highly targeted, local research about business trends, entrepreneurs’ opinions and their economic outlook is the subject of a free webinar series called “2015 Small Business … [Read more...] about Nevada State Bank Hosts Webinar Series “2015 Small Business Outlook”
Applied Analysis Reaches Agreement with UNLV to Use MyResearcher.com for New Data Management and Analysis Lab
LAS VEGAS – Research and analysis firm Applied Analysis has reached a unique public-private agreement with UNLV that gives the university’s professors, researchers and students access to MyResearcher.com, a powerful real-time data analysis tool. MyResearcher.com will immediately help students and staff at UNLV’s Community Advanced Data and Research Analysis (CADRA) … [Read more...] about Applied Analysis Reaches Agreement with UNLV to Use MyResearcher.com for New Data Management and Analysis Lab
Nevada Small Business Owners Show Increased Confidence in Nevada’s Economy, Says Nevada State Bank Survey
LAS VEGAS – Nevada State Bank’s annual survey of small businesses in Nevada reveals increased confidence in Nevada’s economy and more positive expectations for the future, with optimism increasing from last year’s survey. The bank’s recent survey of more than 400 small business owners, operators and managers throughout the state found that two-thirds of respondents said they … [Read more...] about Nevada Small Business Owners Show Increased Confidence in Nevada’s Economy, Says Nevada State Bank Survey
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...] about Industrial Summary: Fourth Quarter
Report from The Private Bank by Nevada State Bank Focuses on Election Issues
LAS VEGAS – The Private Bank by Nevada State Bank released the nineteenth edition of its High Net Worth Report series, with analysis focusing on the national and state level issues High Net Worth residents valued as they went to the voting booth. Utilizing research from the 2014 High Net Worth Survey, the full results of which were released in August of 2014, highlights from … [Read more...] about Report from The Private Bank by Nevada State Bank Focuses on Election Issues
Retail Summary: Third Quarter 2014
Southern Nevada In the third quarter of 2014, the Las Vegas retail market reported a vacancy rate of 9.1 percent. The latest period represents a decline of 0.1 percentage point compared to the prior quarter (Q2 2014). Compared to a year ago (Q3 2013), the retail vacancy rate has declined 0.3 percentage points. Anchored retail space has now reported annual declines in vacancy … [Read more...] about Retail Summary: Third Quarter 2014
Economic Forecast: 2015 Preview
Economists and industry analysts can, and will, argue over whether an economic recovery is as strong as numbers seem to indicate. However, they do agree the numbers show Nevada’s economy is on track to strengthen and add more jobs in 2015 because many of the impediments to faster growth have subsided. The unemployment rate has dropped to its lowest level in more than five … [Read more...] about Economic Forecast: 2015 Preview
Industrial Summary: Third Quarter 2014
Southern Nevada In the third quarter of 2014, the Las Vegas industrial market vacancy rate reached single digits for the first time since the fourth quarter of 2008. The rate fell to 9.3 percent during the period, which is down 0.8 percentage points from the prior quarter (Q2 2014). Compared to a year ago, industrial vacancies have declined 3.4 percentage points. The Las Vegas … [Read more...] about Industrial Summary: Third Quarter 2014
Retail Summary: Second Quarter 2014
Southern Nevada The Las Vegas retail vacancy rate reported a slight increase in the second quarter of 2014. The rate rose 0.1 percentage point compared to the prior period (Q1 2014) to 9.1 percent. However, compared to a year ago, the retail vacancy rate remains down 0.7 percentage points. Since the high of 11.1 percent reached in the third quarter of 2010, vacancies have … [Read more...] about Retail Summary: Second Quarter 2014
Office Summary: Second Quarter 2014
Southern Nevada The Las Vegas office vacancy rate declined in the second quarter of 2014 after increasing in the first quarter of the year. During the latest period, the sector reported a vacancy rate of 25.2 percent, which is down 0.4 percentage points from the prior quarter. Compared to a year ago, vacancies have fallen 0.5 percentage points. The office market vacancy rate … [Read more...] about Office Summary: Second Quarter 2014
Margin Tax Would Cause Destruction of 3,600+ Private-Sector Jobs
New Dynamic, General-Equilibrium Analysis Simulates Impact of Tax Proposal Although much has been said about the proposed margin tax on businesses that will appear as Question 3 on November’s ballot, there is a shocking lack of clarity about the actual impact of the tax on Nevada’s economy. There isn’t even agreement on an approximate amount of new tax dollars the tax would … [Read more...] about Margin Tax Would Cause Destruction of 3,600+ Private-Sector Jobs
May 2014: Around the State
Coalition Releases Job Impact Memo on Margin Tax Initiative The Coalition to Defeat the Margin Tax Initiative (CDMTI) has completed an analysis of the potential employment impacts of Question 3, the Margin Tax Initiative, which will appear on November’s ballot. According to their research, the tax burden for businesses would increase by approximately $700 million. That … [Read more...] about May 2014: Around the State
It’s an Investment: Commercial Financing in Nevada
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...] about It’s an Investment: Commercial Financing in Nevada
Retail Summary: Fourth Quarter 2013
Southern Nevada The Las Vegas retail vacancy rate fell below 10 percent or the first time since 2008 as it ended 2013 at 9.2 percent. The latest rate is down 0.2 percentage points from the prior quarter and represents a decline of 0.8 percentage points from the prior year. During the fourth quarter, the retail sector reported positive net absorption with 147,900 square feet … [Read more...] about Retail Summary: Fourth Quarter 2013
Office Summary: Fourth Quarter 2013
Southern Nevada The Las Vegas office sector ended 2013 on a somewhat positive note as it reported positive net absorption for the third consecutive quarter. While the vacancy rate remains elevated, the latest period represents a decline of 0.2 percentage points compared to the prior quarter. Compared to a year ago, the rate is down 0.3 percentage points. During the quarter, … [Read more...] about Office Summary: Fourth Quarter 2013
Industrial Summary: Fourth Quarter 2013
Southern Nevada In 2013, the Las Vegas industrial market reported the highest net absorption since 2007. The vacancy rate at the end of 2013 was 13.8 percent, which represents a decline of 0.4 percent from the prior quarter. Compared to a year ago (Q4 2012), the vacancy rate reported an even more substantial decline of 2.6 percent. With no completions during the fourth … [Read more...] about Industrial Summary: Fourth Quarter 2013
An Industry Revived: Commercial Real Estate in Nevada
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...] about An Industry Revived: Commercial Real Estate in Nevada