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
Reno business
Supply & DemandNevada’s Industrial Market
The demand for industrial space has been extraordinarily strong in Nevada throughout this economic expansion and is expected to stay consistent throughout the rest of this year and into 2021, according to real estate professionals throughout the state. Originally, a decline in demand was expected due to the country’s trade war with China, but with trade tensions easing that … [Read more...] about Supply & Demand
Knowing WorthBusiness Valuation in Nevada
Even as the economy was cooling off coming out of the winter and stung by the effects of the spread of coronavirus, businesses are selling at record paces in Nevada. In northern Nevada, The Liberty Group is coming off its best year ever, owner and broker Brad Bottoset said. The great year in 2019 was coming off two prior years that had also set records and Bottoset felt more … [Read more...] about Knowing Worth
Betting on NevadaGaming Industry Outlook
Nevada’s gaming industry is the biggest employer in Nevada and the most important sector in the state’s economy. In fiscal year 2018, the hospitality industry accounted for nearly 38.9 percent of the state’s total tax revenues and supported 450,100 jobs. While economic development agencies continue their efforts to diversify the Nevada economy, gaming will continue to be its … [Read more...] about Betting on Nevada
Banking on NevadaA New Decade is Dawning
The economy and the banking industry mirror each other, and both are doing well in Nevada as the new decade begins. “We have one of the best economies in the country as measured by employment growth and in-migration, all those key metrics that we watch so closely, those are really strong right now. That generally means that the banking industry’s going to do … [Read more...] about Banking on Nevada
Industry FocusBuilders & Developers
LEFT TO RIGHT: John Cannito, PENTA Building Group • George Garcia, G.C. Garcia • Frank Marretti, G2 Capital Development • Joe Laiacona, City National Bank • Greg Korte, The Korte Company • Reed Gottesman, Harsch Investment Properties • John Ramous, Dermody Properties • Lance Gilman, L. Lance Gilman Real Estate • Lyle Brennan, Lyle B’s Development • Jeff Wood, … [Read more...] about Industry Focus
Office ProjectsFor a New Generation
The signals to office developers to develop are typically simple. Economic growth creates demand for office space, existing buildings begin to fill, rents rise and developers can make new projects pencil out. That’s happening, sort of, across Nevada these days. Vacancy rates in office buildings have fallen to about 12 percent in Las Vegas and about 11 percent in Reno, and … [Read more...] about Office Projects
Brad Bottoset
Owner/Broker, The Liberty Group of Nevada, LLC Type of Business: Business BrokersBased In: Reno, NevadaHails From: Windsor, Ontario Canada Years Company Has Been in Nevada: 15Years with Company in Nevada: 15Employees with Company: 6 What was your first job? At 14 years of age I worked as a fish fryer at Arthur Treacher’s Fish & Chips. I was lucky enough to have … [Read more...] about Brad Bottoset
Economic ForecastBuilding on Nevada’s Strong Economy
As Governor Steve Sisolak looks at the state’s strong economic performance at the dawn of a new decade, he sees it well-positioned to make investments that will create jobs and wealth for years to come. Top economists expect Nevada’s strong performance will continue into the New Year and that optimism, Sisolak says, creates an opportunity to address long-term economic … [Read more...] about Economic Forecast
Industry FocusHealthcare
Left to Right: Connie Brennan, Nevada Business Magazine • Dean Dow, Regional Emergency Medical Services Authority (REMSA) • Karen Rubel, Nathan Adelson Hospice • Mark Price, Healthcare Partners Nevada • Donna Miller, American Medical Response (AMR) • Dr. Sherif Abdou, P3 Health • Heather Korbulic, Silver State Health Insurance Exchange • Patty Holden, Elite Medical Center • … [Read more...] about Industry Focus
Stable and SustainableNevada’s Residential Market
Nevada’s residential housing should be stabilized and sustainable throughout 2020. Despite a relative lack of inventory and as potential homebuyers continue to flock to northern and southern Nevada alike, multiple Nevada real estate executives said they believe the housing market will settle into a groove. “For the first time in 13, 14 years, I can use the words stable … [Read more...] about Stable and Sustainable
Mike Altimus
“Take care of your people and the return can be endless.” Vice President, Peterbilt Truck Parts & EquipmentGeneral Manager, Silver State InternationalType of Business: Full Service Heavy Duty Truck Dealerships Based In: Sparks, NVHails From: Reno, NV Years Company Has Been in Nevada: 76Years with Company in Nevada: 26Employees with Company: 135 What was your … [Read more...] about Mike Altimus
Coming Up…Multiple Generations in the Workplace
Nevada businesses are operating in a unique era. People are living longer, healthier lives, and therefore they’re not leaving the workforce as soon as they once did. As a result, there are currently four generations working together, bringing unique strengths to the workplace, as well as new challenges. In some ways, people working together are simply people working … [Read more...] about Coming Up…
Credit UnionsCommunity Banking
As banks continue to consolidate and grow as national corporations, credit unions likewise continue to provide financial connections to local communities. Clark County Credit Union President and CEO Matt Kershaw said the philosophy of “people helping people” has propelled state-charted credit unions to be the largest group of locally-owned financial institutions in Nevada. … [Read more...] about Credit Unions
Industry FocusAttorneys
Left to Right: Dana Dwiggins, Solomon Dwiggins and Freer • Robert Kim, Ballard Spahr • Shane Young, Young Law Group • Alex De Castroverde, De Castroverde Law Group • Barbara Buckley, Legal Aid Center • Bruce Ford, City National Bank • Nile Leatham, Kolesar & Leatham • Terry Coffing, Marquis Aurbach Coffing • Connie Brennan, Nevada Business Magazine • Debra … [Read more...] about Industry Focus
Shifts OccurringNevada’s Tourism Industry
“Strong” and “evolving”— that’s how Lt. Governor Kate Marshall, chair of TravelNevada described the Silver State’s tourism industry today. Its robustness is evidenced by visitor spending, which has increased year-over-year since 2009. In calendar year 2018, the 56 million people who visited Nevada collectively spent $65.5 billion here, up from $63.7 billion the year … [Read more...] about Shifts Occurring
RetailFocus on the Experience
Once upon a time — say, 10 years ago — retail was all about selling stuff. But as the business of selling stuff continues to move online, the word of the moment among retailers and shopping center owners is “experience.” “Experience is a big part of what retailers are looking to incorporate now, whether this is in the form of innovative interiors, games or mobile pickup,” … [Read more...] about Retail
Professional SportsThe Big New Game in Town
Read "The Business of Sports" by Jennifer Ko Craft With its $1.8 billion budget, the spectacular new Allegiant Stadium — home of the NFL’s Raiders beginning in 2020 — is the biggest, highest profile construction project in Las Vegas in recent memory. But for all the economic benefits of the construction, the new stadium is merely the beginning of a powerful wave … [Read more...] about Professional Sports
Industry FocusBankers
Left to Right: Sara Lindgren, JP Morgan Chase Bank • BJ North, Plumas Bank • David Navarro, Pacific Premier Bank • James York, Valley Bank • John Zaby, Mutual of Omaha Bank • Connie Brennan, Nevada Business Magazine • Paul Stowell, City National Bank • Phyllis Gurgevich, Nevada Banker’s Association • John Guedry, Bank of Nevada • Diane Fearon, Lexicon Bank One industry … [Read more...] about Industry Focus
How We Stack Up2019
Statistics about Nevada in 2019 provide reasons for both optimism and concern. In this 14th annual study comparing Nevada to other states, economic indicators show that the state is thriving: tourism numbers are up, unemployment is down and home values are steadily rising. However, Nevada is still dealing with the same chronic social issues noted in the first edition in 2006. … [Read more...] about How We Stack Up