Rapid growth during COVID led to growing pains for the logistics industry: the need for the industry to, if not shrink, at least contract, and the need for increased rates and decreased overhead. Logistics continues to grow while recovering from a recessionary environment it's functioned in for the last 18 months, a far cry from the boom of 2020 when COVID-19 made supply chain … [Read more...] about Your Package is out for Delivery
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Beware of Supposedly ‘Pro-Business’ Politicians
Being “pro-business” is a nice talking point for politicians— but often that’s all it is: A talking point. The truth is, the term doesn’t actually mean much in today’s political climate. Certainly, it looks good on campaign flyers, and sounds good in 30 second radio spots—however, businesses aren’t some monolithic demographic with universally recognized values. In fact, the … [Read more...] about Beware of Supposedly ‘Pro-Business’ Politicians
New RealityUpskilling & Reskilling Become Commonplace Necessities in Workplaces
“Companies that invest more in digital transformation actually outperform their peers over time. These companies are more prepared for disruption, better able to monetize new digital channels, and better build a bigger user base. What’s more, this phenomenon exists regardless of industry.”Geoff Cubitt, CEO, Isobar US The digital transformation, coupled with an … [Read more...] about New Reality
Industrial SubmarketDemand Over Pandemic
The industrial real estate market has been crucial to the economy throughout the coronavirus pandemic as its stability has been driven by demand from e-commerce companies as consumer spending habits have shifted away from brick-and-mortar retail to online. That shift may be permanent as Nevada’s economy begins to recover from the pandemic. But some brokers believe retail … [Read more...] about Industrial Submarket
Around the StateJuly 2020
GOED Approves Workforce Development Program The Nevada Governor’s Office of Economic Development (GOED) Board of Directors has approved a grant to the College of Southern Nevada (CSN) for an advanced manufacturing rapid response program. The grant is for $2 million and is expected to expand skilled training offerings in southern Nevada by expanding and accelerating the … [Read more...] about Around the State
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
No, the Robots are Not Going to Take all Our Jobs
The robots are coming—and according to some experts, they’re here to take our jobs. Artificial intelligence and automation have made our world an increasingly futuristic wonder to behold. However, some “experts” still apparently worry such a future is a dystopian one—where robots, AI and automation will slowly phase out Americans workers, costing tens of millions of jobs in the … [Read more...] about No, the Robots are Not Going to Take all Our Jobs
Trending UpMulti-Family in Nevada
Multi-family developers in Nevada are convinced a strong trend in the segment will continue for the foreseeable future. The U.S. is in the longest economic expansion in history and with it has brought a boom in multi-family developments in Nevada. David Picerne has been involved in Clark County multi-family developments since 1986, and he’s cautiously optimistic … [Read more...] about Trending Up
Investment StrategiesA Look at Today’s Market
While every investor should have their own financial goals and strategies to achieve those goals, 2019 is proving to be a solid year for most of those goals. Investment advisors are quick to recommend investors meet with advisors to best analyze their long-term and short-term financial goals and build those strategies, but that advice doesn’t change the general rules of … [Read more...] about Investment Strategies
Taxes and NevadaThe Give and Take
The Nevada State Legislature kept the business community waiting until the end of the 80th legislative session last month. On June 3, the last day the legislature was in session and on deadline, the Senate and Assembly passed several key bills that will affect taxes for years to come and kept some taxes on businesses from expiring. These actions are cause for … [Read more...] about Taxes and Nevada
Spending Power: Nevada’s Retail Market
With the peak holiday spending in their rearview mirrors, Nevada retailers say they are cautiously optimistic about continued growth in 2017. “Retail is trending positive. I’m conservatively bullish and would be happy with one to two percent growth next year,” said Kevin Budny, senior general manager of the Galleria at Sunset in Henderson. “We were comparable to 2015 this … [Read more...] about Spending Power: Nevada’s Retail Market
Industrial Summary: Fourth Quarter 2016
Southern Nevada The Las Vegas Valley’s overall industrial vacancy rate in Q4, 2016 was 4.8 percent. Since Q3, 2015 the Valley’s industrial market rate has been at full occupancy and has been absorbing new space while remaking the existing inventory to accommodate larger space demand. Q4 saw 2,045,634 square feet of completed space, all of it in the warehouse/distribution … [Read more...] about Industrial Summary: Fourth Quarter 2016
Welcome to Nevada: January 2017
Amazon A new fulfillment center is under construction in North Las Vegas expanding Amazon’s presence in Southern Nevada. The company plans to open the facility by the summer of 2017 which will be operated by Amazon.com.kycd LLC, a subsidiary of Amazon.com. Plans for the new center include the hiring of 1,000 employees within the first few months with an average hourly wage … [Read more...] about Welcome to Nevada: January 2017
Thanks to Capitalism, the Future Is Quickly Arriving
The future is apparently upon us. It’s true that we don’t yet have flying cars, cities built on clouds or Back-to-the-Future-style hover boards. But we are on the verge of having self-driving cars. And we already have telephones with more computing power than the system that successfully landed men on the moon. And now, thanks to retail giant Amazon, we will soon have … [Read more...] about Thanks to Capitalism, the Future Is Quickly Arriving
Industrial Summary: Second Quarter 2016
Southern Nevada The Las Vegas Valley’s overall industrial vacancy rate in Q2, 2016 was 4.6 percent, a decline of 0.4 points from 5.0 percent in Q1, 2016. Q2’s decrease ended two quarters of increases in the industrial vacancy rate. However, with vacancies at low levels and positive economic trends, rate increases are currently more likely due to simple statistical … [Read more...] about Industrial Summary: Second Quarter 2016