The 45-acre site of the former Park Lane Mall in Reno—about seven times the size of Reno’s Greater Nevada Field ballpark—has sat vacant for ten years but now is about to get made over into a development encompassing residential, retail and commercial components. As of mid-April, ground was slated to break soon on the infrastructure, then the 1,260 apartments to be followed … [Read more...] about Live-Work-Play Repeat: Mixed-Use Projects Regain Traction
The Gramercy
Office Summary: Fourth Quarter 2014
Southern Nevada The Las Vegas office sector reported positive net absorption for three consecutive quarters in 2014. By the end of the year, the office market vacancy rate was 23.6 percent. The latest vacancy rate is up 0.2 percentage points from the prior quarter, but it has declined 0.7 percentage points from a year ago. During the fourth quarter of 2014, One Summerlin … [Read more...] about Office Summary: Fourth Quarter 2014
The Retail Market: Recovering with Measured Expectations
With a New Year upon us, real estate brokers and developers are dampening their expectations for the retail market in Nevada over the next couple of months and for the rest of 2015. Nevertheless, all of them see positive trends for the market and some reason to remain optimistic. “We are clearly in a recovery,” said Brendan Keating, principal with The Equity Group in Las … [Read more...] about The Retail Market: Recovering with Measured Expectations
The Office Market: Slow and Steady into the Future
As a mixture of economic indicators appear to show the recession in our rear view mirrors, movers and shakers in Southern Nevada’s office market are cautiously planning ahead for slow and modest growth in the coming months. “The trending is moderate growth overall due to a bettering economy,” says Lance Bradford, founder of Stable Development in Las Vegas. “There are … [Read more...] about The Office Market: Slow and Steady into the Future
Office Summary: Third Quarter 2014
Southern Nevada The Las Vegas office market vacancy rate fell to 24.8 percent in the third quarter of 2014. Compared to the prior quarter, vacancies fell 0.4 percentage points. Meanwhile, the vacancy rate is down 0.7 percentage points compared to a year ago. While the office market vacancy rate remains significantly higher than its industrial and retail counterparts, it has … [Read more...] about Office Summary: Third Quarter 2014
Groundbreaking for Downtown Las Vegas Clinic; Wells Fargo Invests in Southern Nevada; Home Prices Holding Steady
Volunteers in Medicine of Southern Nevada Hosts Groundbreaking Event for Clinic in Downtown Las Vegas Groundbreaking ceremony for VMSN’s new downtown Las Vegas clinic. Members of the community are invited to attend and receive information about the project. [Read more...] Wells Fargo Invests in Southern Nevada through Las Vegas Global Economic Alliance's 'Engage Southern … [Read more...] about Groundbreaking for Downtown Las Vegas Clinic; Wells Fargo Invests in Southern Nevada; Home Prices Holding Steady
Educating, Connecting Entrepreneurs; Median Home Price Hits $200,000; 5K to Raise Funds for Kids with Cancer
Las Vegas Will Launch 1 Million Cups to Educate, Connect Local Entrepreneurs 1 Million Cups, a program to engage, educate and connect entrepreneurs, launched in Las Vegas on Wednesday, August 13. The weekly event will be located in the inNEVation Center, powered by Switch. 1 Million Cups is a weekly gathering that is building startup communities over cups of coffee and … [Read more...] about Educating, Connecting Entrepreneurs; Median Home Price Hits $200,000; 5K to Raise Funds for Kids with Cancer
Office Summary: First Quarter 2014
Southern Nevada Demand for Las Vegas office space stalled in the first quarter of 2014 as the market reported a vacancy rate of 25.8 percent. Despite the slight uptick in office vacancies during the first quarter, they have now reported year-over-year declines for two consecutive quarters. Office inventory increased to 52.8 million during the first quarter of the year, due … [Read more...] about Office Summary: First Quarter 2014
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