The ongoing pandemic has forced businesses and industry leaders to adapt to economic and social conditions they could have never anticipated just one year ago. This is especially true for those in the local commercial real estate industry. To get through these trying times, leaders of the Commercial Alliance Las Vegas (CALV), a southern Nevada organization dedicated to the … [Read more...] about Lessons Learned
Nevada commercial real estate
Commercial RE ReportOffice Summary: Fourth Quarter 2020
Northern Nevada By Colliers | Reno The Reno/Sparks office market has begun its journey to recovery in the fourth quarter of 2020, with positive office job growth and strong in-migration pointing to a rebound in the near future. Office vacancy saw a 40 basis point decrease since the previous quarter, from 13.1 percent in the third quarter to 12.7 percent in the fourth … [Read more...] about Commercial RE Report
Time & SpaceArchitectural Design Trends
Architecture may be all about space — the creation of spaces, the blending of the built environment with the natural environment — but it’s often about time, too. As Nevada’s architectural professionals look forward to the evolution of design trends in 2021, they see lots of indications that the dramatically changing times in which we find ourselves will shape the … [Read more...] about Time & Space
Commercial RE ReportRetail Summary: Third Quarter 2020
Northern Nevada By Dickson Commercial Group Retail had its second slow quarter in a row with only 11 total sales. The third quarter sales volume came in at $10,303,027. In comparison, Q1 2020 had a total sales volume of roughly $42 million and there was just over $48 million per quarter throughout 2019. The average price per square foot was $331.26. The social … [Read more...] about Commercial RE Report
Commercial RE ReportOffice Summary: Third Quarter 2020
Northern Nevada By Colliers | Reno Reno/Sparks saw office vacancy increase in the third quarter of 2020 to 10.8 percent as net absorption turned negative. There were no new completions of office space during the quarter. The average asking rate for office space increased slightly, to $1.84 per square foot (PSF) on a full-service gross (FSG) basis from $1.83 in the second … [Read more...] about Commercial RE Report
NAIOP Southern Nevada 2020 “Shed Some Light” Virtual Bus Tour
NAIOP Southern Nevada’s Bus Tour Committee is pleased to present the 2020 Bus Tour (Virtual) Event. What a year 2020 has been! We know that everyone has felt some level of uncertainty in these unprecedented times, so we are pleased to be able to “Shed Some Light” on the current state of the Las Vegas commercial real estate market. Given the current environment, it … [Read more...] about NAIOP Southern Nevada 2020 “Shed Some Light” Virtual Bus Tour
Christopher Crooks
Senior Managing Director and Market Leader, Las VegasNewmark Type of Business: Commercial Real Estate Brokerage FirmBased In: Las Vegas, NVHails From: East Hardford, CT Years Co. has been in Nevada: 20Years with Company in Nevada: 02Employees with Company: 18k What was your first job? My first job was selling copiers; the position taught me that a strong work ethic … [Read more...] about Christopher Crooks
Commercial RE ReportIndustrial Summary: Third Quarter 2020
Northern Nevada By CBRE Reno The northern Nevada industrial market has been resilient in the wake of the COVID-19 pandemic as market fundamentals remained strong in Q3 2020. After impressive net absorption totals in the second quarter, Q3 posted healthy figures with 855,106 square feet of positive net absorption, pushing the year-to-date net absorption total past 3 … [Read more...] about Commercial RE Report
Iconic Women of Distinction Awards 2020
An Iconic History NAWBO Southern Nevada The mission of the National Association of Women Business Owners (NAWBO) Southern Nevada is to educate, empower and promote women business owners to experience success in all economic, political and social arenas. The organization provides informative and success driven monthly meetings which include time devoted to networking with … [Read more...] about Iconic Women of Distinction Awards 2020
Commercial RE ReportRetail Summary: Second Quarter 2020
Northern Nevada By Dickson Commercial Group At the start of 2020, employment growth in Reno was among the highest in the nation. Due to COVID-19, the shutdown of many non-essential retailers has caused an impact on this growth. The Nevada Department of Employment, Training and Rehabilitation (DETR) says the state’s overall unemployment rate was at the highest in the … [Read more...] about Commercial RE Report
Commercial RE ReportOffice Summary: Second Quarter 2020
Northern Nevada By Colliers Reno Reno/Sparks saw office vacancy decrease in the second quarter of 2020, perhaps defying the expectations of some observers. Office vacancy decreased to 9.4 percent in the second quarter, from 10 percent in the first quarter of 2020. The average asking rate for office space decreased to $1.83 per square foot on a full service gross … [Read more...] about Commercial RE Report
Commercial RE ReportIndustrial Summary: Second Quarter 2020
Northern Nevada By CBRE Reno As the COVID-19 pandemic unfolded in Q2 2020, it delivered a widespread shock to the U.S economy. While it is too early to fully comprehend the long-term impact the pandemic will have, industrial real estate has emerged well positioned to weather the current economic climate. The Reno industrial market finished the quarter strong after an … [Read more...] about Commercial RE Report
Industry FocusBrokers
As Nevada businesses work to adjust to a rapidly changed world, executives in commercial brokerage see a multitude of changes to their industry. From tenant and landlord to bankers, brokers are involved in nearly every aspect of the commercial real estate industry and are working to advise their clients moving forward in a post-COVID world. Recently, brokerage executives … [Read more...] about Industry Focus
Commercial RE ReportIndustrial Summary: First Quarter 2020
Northern Nevada By CBRE Reno Strict stay-at-home orders due to the COVID-19 pandemic are leading the U.S. economy into a recession with a very sharp GDP decline in for Q1 2020. However, the unique nature of this downturn could result in an unusually swift economic recovery that may begin as early as Q3 2020. Prior to the pandemic, the Reno industrial market began to … [Read more...] about Commercial RE Report
Commercial RE ReportOffice Summary: Fourth Quarter 2019
Northern Nevada By Colliers International | Reno Office vacancy continued to decrease in Reno/Sparks, dropping to a very healthy 10.1 percent in the fourth quarter of 2019, down from 11.8 percent in the fourth quarter of 2018. After a sharp increase in vacancy in the first quarter of 2019, when it reached 13.1 percent, vacancy fell in every quarter thereafter. There … [Read more...] about Commercial RE Report
Commercial RE ReportIndustrial Summary: Fourth Quarter 2019
Northern Nevada By CBRE Reno The industrial market continues to exhibit robust demand, finishing the year with 2.5 million square feet of net absorption, bringing the year-end total to 3.7 million square feet. This was the seventh consecutive year where occupancy gains exceeded 3.5 million square feet. Overall, tenant demand remained diverse over the course of 2019 … [Read more...] about Commercial RE Report
Commercial RE ReportRetail Summary: Third Quarter 2019
Northern Nevada By Dickson Commercial Group Investment activity slowed slightly in Q3, with over $34 million in volume over 19 transactions, down from $55 million in Q2. The quarter simply lacked any major shopping center deals, as most were pushed into the early part of Q4. The largest leasing transaction this quarter was for Action Home Appliance & TVs. … [Read more...] about Commercial RE Report
Commercial RE ReportOffice Summary: Third Quarter 2019
Northern Nevada By Colliers | Reno The third quarter of 2019 was one of the strongest quarters for office space in recent history. A healthy 130,000 square feet of net absorption was recorded, with many large leases in the Downtown and Meadowood Submarkets. Vacancy decreased to 10.5 percent. Current office stats were strong enough to support new construction, which … [Read more...] about Commercial RE Report
Business IndicatorsDecember 2019
The “advance” estimate of U.S. real gross domestic product (GDP) for the third quarter of 2019 increased by 1.9 percent at an annualized rate. Residential investment, which experienced six consecutive quarters of losses, finally rebounded and also contributed positively to the real GDP growth. U.S. nonfarm employment gained 128,000 jobs in October with large losses in the … [Read more...] about Business Indicators
Commercial RE ReportIndustrial Summary: Third Quarter 2019
Northern Nevada By CBRE Reno Industrial market fundamentals remained solid during Q3 2019 as the vacancy rate remained under 6 percent for the 15th consecutive quarter. Tight market conditions have fueled speculative development in 2019 as construction activity reached its highest level since 2015, with 4.0 million sq. ft. under construction. Most of the current projects … [Read more...] about Commercial RE Report