Industrial real estate isn’t static. Buildings are constructed, leased up and absorbed, vacancy rates fall and climb again, buildings constructed for one purpose end up serving another. Everything varies with the cycle of the economy. Industrial real estate itself is a microcosm view of the industries using it. The Nevada Market In Nevada, indicators point to continued … [Read more...]
Colliers International Announces $66.5 Million Sale of IGT Office Building to California Based Investor, Griffin Capital Corporation
Las Vegas –Colliers International Las Vegas represented Panattoni Development Company on a $66.5 million office facility sale to Griffin Capital Essential Asset REIT II, Inc. The Class “A”, three-story, 222,268 square-foot office property is fully leased to IGT and guaranteed by the tenant’s parent company, International Game Technology PLC. IGT has occupied the facility since … [Read more...]
Industry Focus: Builders and Developers
Many builders and developers in the Silver State fought through the recession only to come out on the other side and realize there are new challenges facing their companies. Leaders in commercial building and development recently met at the Las Vegas offices of City National Bank to address these challenges and discuss opportunities in the industry. Connie Brennan, publisher … [Read more...]
My Henderson
The City of Henderson is open for business. And families. And for anyone who enjoys being in a city consistently awarded best of designations. In November of last year, for example, 24/7 Wall Street named Henderson to the list of America’s 50 Best Cities to Live in. The city is growing. Businesses are opening, financial services and corporate headquarters are calling … [Read more...]
Developers: New Projects Signal Improved Markets
As the welcome sights and sounds of industrial construction continue to pop up all around the Silver State, business decision makers agree that economic good times are coming back. With 200 million square feet of development sprinkled around the U.S., Europe and Canada, developers at Panattoni Development Company, Inc. are happy to have stuck with in Nevada for 17 … [Read more...]
Henderson Business Connection Expo to Bring Businesses Together
Nearly 100 exhibitors, 300 attendees expected at sixth annual event Oct. 9 HENDERSON – The Henderson Chamber of Commerce will host its sixth annual Henderson Business Connection Expo from 10 a.m. to 3 p.m. Friday, Oct. 9, at the Henderson Convention Center, located at 200 S. Water Street in the Water Street District. The event is free and open to the public. Presented by … [Read more...]
Southern Nevada CCIM Chapter April 2015 Luncheon – Develop This!
Southern Nevada CCIM Chapter presents the April 2015 Luncheon - Develop This! The Past, Present and Future of Commercial Development in Southern Nevada Where: Palms Casino Resort Ballroom 456 - Second Floor (Fantasy Tower) 4321 W. Flamingo Rd Las Vegas, NV 89103 When: Wednesday, April 22, 2015 11:30AM - 1:00PM Details: Develop This! The Past, Present and … [Read more...]
Trending in Henderson
From a company town to a city companies want to be in: Henderson has trended towards the feel of a hometown community while evolving to meet the needs of residents and businesses. In the 1930s, Henderson housed builders working on Boulder Dam. During World War II the Basic Magnesium Plant in Henderson processed magnesium. Those workers left after the war, but Henderson … [Read more...]
If You Build It, Will They Come?
Construction Returns to Nevada’s Industrial Market Nevada’s industrial market, which was devastated by the recession, has now recovered to the point where developers have returned to the market with “spec” projects (those built in advance of a contract or buyer). Now that 2014 year-end numbers have been tallied and evaluated, commercial real estate experts agree that the … [Read more...]
Panattoni Development Company Acquires Industrial Space in North Las Vegas
LAS VEGAS – Doug Roberts, partner for the Nevada division of Panattoni Development Company Inc., announced the company recently closed escrow on a 103,000-square-foot industrial space in North Las Vegas. The total value of the transaction was $5,250,000. The acquired property is located at 1841 E. Craig Road in North Las Vegas. Bryan Houser with Albright Callister & … [Read more...]
A Developing State: Growing Economy Encourages New Projects
As Nevada’s economy picks up the pace, businesses are returning to Nevada and Nevada is returning to business – mostly. In Southern Nevada there’s no real wage growth, gaming revenues are down, home sales are slowing. At the same time, industrial property vacancies are dropping, flex space rents are low but flex spaces themselves are filling, and big box industrial space is … [Read more...]
What is your favorite charity?
“Candlelighters of Southern Nevada is special to me because of the support, education, hope and advocacy they provide families of children with cancer. It’s important for these families to know they are not alone and that someone cares.” Justin Brown | Vice President Regulatory Affairs, Southwest Gas “My most compassionate feelings go out to the single-parent homeless. Our … [Read more...]
Henderson: Built to Suit
Henderson, now in its 61st year, has evolved into a first-rate location for companies. Today, this progressive city delivers exceptional services and amenities for businesses, living up to its moniker: the Las Vegas Valley Address for Business Success. It’s home to many nationally and regionally known enterprises; others are in the process of making it so. More than 10,000 … [Read more...]
Officials Break Ground on Moapa Paiute Tribe Solar Project
The first utility-scale solar project on tribal land is underway in Southern Nevada. U.S. Senate Majority Leader Harry Reid (NV) joined representatives from the Moapa Band of Piautes and executives from First Solar, Inc. (Nasdaq: FSLR) and the Los Angeles Department of Water and Power (LADWP) to kick off construction on the 250 Megawatt power plant. The project is located on … [Read more...]
Finding our Niche: Distribution Centers in Nevada
In an effort to diversify Nevada’s economy away from over reliance on travel and tourism, hospitality and gaming, economic development authorities throughout the state continue to work to find the perfect industries for Nevada’s business-friendly tax climate, wide-open spaces, multi-modal transportation systems and easy access to the 11 western states. In 2011, the … [Read more...]
Special Report: City of Henderson
Honoring Past Businesses, Recognizing Present Companies & Welcoming Industries of the Future Incorporated in 1953, Henderson, Nev. was born “in America’s defense” with the building of the Basic Magnesium Plant in 1943 during World War II. The plant supplied the U.S. War Department with magnesium for munitions and airplane parts that would eventually help the United States … [Read more...]
The Logistics of Economic Recovery: The Distribution Industry in Nevada
That big-box warehouse down the street may not be the prettiest feature of the Nevada landscape surrounding you, but next time you’re driving past it, consider this: It, and other facilities like it, might just save the state’s struggling economy. Nevada is poised to become a major distribution center in the West. According to a 2011 study commissioned by the State of … [Read more...]
Industry Focus: Commercial Real Estate
While many feel that most industries in Nevada are beginning to experience small rebounds, one industry that still has a long road ahead is the commercial real estate sector. With asking rents remaining low and the large quantities of available space on the market, brokers, builders and developers continue to feel the effects of the recession. Executives representing this … [Read more...]
