Archive for the ‘NEVADA QUARTERLY REPORTS’ Category:

May
26
Las Vegas Commercial Real Estate Saw an Increase in Demand Q1, 2015

New Picture

Las Vegas—May 26, 2015—The Las Vegas office of Cushman & Wakefield | Commerce released its Marketbeat Snapshot reports for Q1 of 2015. The reports detail office, industrial and retail sectors of commercial real estate in the Las Vegas area.

“A positive job market and an increase in investor confidence translated into gains in commercial real estate in Southern Nevada,” said Michael Dunn, Market Leader of the Cushman & Wakefield | Commerce Las Vegas office. “Las Vegas continued its recovery at a faster pace than the overall U.S. economy with momentum continuing to slowly build across all product types. Jobs were added at 2.7 percent over last year. Demand for retail space is on the rise, the office sector saw the highest net absorption in years and the industrial market is in a solid growth mode.”

May
15
2015 Q1 MarketBeat Las Vegas Industrial Snapshot: Southern Nevada Industrial Market Completes Thirteenth Straight Quarter of Positive Absorption

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Southern Nevada’s industrial market completed its thirteenth straight quarter of positive absorption, absorbing 1,132,600 square feet during Q1 2015. The overall vacancy rate continued to plummet, dropping by 5.5 percentage points putting upward pressure on lease rates which increased by 5.7%.

May
15
2015 Q1 MarketBeat Las Vegas Retail Snapshot: Demand is on the Rise with Decreased Vacancy and Increased Lease Rates

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Southern Nevada’s retail market slowed modestly from prior quarters but continued to improve with 87,204 square feet of positive absorption. The overall vacancy rate declined by 0.6 percentage points on a year-over-year basis representing a very resilient market when considering the just over 2.1 msf of new product that was added to the market over that same period. Lease rates climbed by 11.5% over the last year showing that demand is on the rise.

Apr
22
2015 Q1 MarketBeat Las Vegas Office Snapshot: Strong Absorption Throughout 2015 and Limited Product Will Push Vacancy Rates Down

New Picture

The U.S. economy continued to add jobs at a high rate as job growth expanded by 2.4% over the last year, pushing the unemployment rate to just 5.5%. Even with stronger employment numbers, wage pressure remained moderate, mainly occurring in specialized jobs.

Despite being one of the slowest areas to recover, Nevada continued to heat up with strong growth that has pushed the unemployment rate down by 1.3 percentage points (pps) over he last year to 7.1%. Job growth of 3.1% continued to exceed the U.S. average as 36,900 new jobs were added over the past year. Construction led all job categories in terms of percentage growth, up 5.3% on a year-over-year basis while leisure and hospitality experienced the largest nominal growth, adding 13,400 jobs.

Mar
6
Cushman & Wakefield | Commerce Reports an Upward Trend for Q4, 2014 Commercial Real Estate Market in Las Vegas

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LAS VEGAS—Mar. 5, 2015—Commercial real estate in the Las Vegas area ended 2014 better than it started, according to new data by the Las Vegas office of Cushman & Wakefield | Commerce. The firm released its most recent Marketbeat Snapshot reports detailing the state of commercial real estate in Southern Nevada.

“Commercial real estate in the Las Vegas-Paradise metropolitan area made steady progress on the road to economic recovery in 2014,” said Michael Dunn, Market Leader for the Las Vegas office of Cushman & Wakefield | Commerce. “This is the second straight year of strong gains in the industrial sector. With positive indicators in new construction, rising sales prices, and decreasing unemployment rates, there is reason to be optimistic that the Las Vegas economy will continue to improving during 2015.”

Aug
26
Cushman & Wakefield | Commerce Q2 2014 Commercial Real Estate Report shows Increased Confidence for Las Vegas Market

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Las Vegas—Aug. 25, 2014—The Las Vegas office of Cushman & Wakefield | Commerce released its Marketbeat Snapshot reports for Q2 of 2014. The reports detail office, retail and industrial market commercial real estate activity in the Las Vegas area.

May
30
Cushman & Wakefield | Commerce Las Vegas Marketbeat Reports Show Strong Industrial, Improving Retail and Office Markets

LAS VEGAS—May 28, 2014—Cushman & Wakefield | Commerce (www.comre.com) released its Q1, 2014 Marketbeat Snapshot reports outlining the state of commercial real estate in the Las Vegas region.

Nov
6
Cushman & Wakefield | Commerce Reports Strengthening Commercial Real Estate Markets in Las Vegas

Cushman & Wakefield | Commerce released its most recent Marketbeat Snapshot reports detailing the status of the commercial real estate market in Las Vegas, covering the Office, Industrial and Retail markets.

May
8
Cushman & Wakefield | Commerce Las Vegas Q1 MarketBeat Reports Convey Strengthening Las Vegas Commercial Real Estate Market

Cushman & Wakefield | Commerce Las Vegas Q1 MarketBeat Reports Convey Strengthening Las Vegas Commercial Real Estate Market

LAS VEGAS—May 8, 2013—The Las Vegas office of Cushman & Wakefield | Commerce (www.comre.com) has released its Q1 Marketbeat Snapshot reports. The reports reflect a drop in vacancy rates and an increase in leasing activity in most areas, signifying a sense of cautious optimism for the Las Vegas commercial real estate market overall in the first quarter of this year.

The full Las Vegas Market reports for the Office, Industrial and Retail sectors for Q1 2013 are available for download at http://www.comre.com/research.cfm.

“The Las Vegas area, particularly Downtown, is witnessing a major transformation because of individual investment and new businesses, many of which are from out of state investing in the area,” said Ed Turpin, Managing Director for the Cushman & Wakefield | Commerce Las Vegas office. “This increased attention brings along the challenge that, because there is a decreasing availability of space, rental rates will likely begin to increase.”

Office Snapshot

In Q1, the Las Vegas Office market continued its positive progression as overall vacancy rates declined by 4.1 percentage points to 20.3 percent by the end of the quarter. With several companies looking to relocate Downtown from other parts of the state and from out of state, this submarket had the strongest numbers with an average direct vacancy rate of 7.1 percent. The growth in the Downtown area, however, stands in contrast against the suburban market, which has a relatively high vacancy rate of 22.0 percent.

Industrial Snapshot

The Las Vegas Industrial market in the first quarter of 2013 saw a dramatic 228.1 percent increase in leasing compared to Q1 of 2012. This leasing activity was almost entirely contained to the manufacturing and warehouse sectors. Overall vacancy rates were at 14.8 percent, which represents a 0.8 percentage point drop on a year-over-year (YOY) basis. Investors are keeping an eye on the market with an optimistic outlook for price appreciation, hoping for an upside swing as the lease rates start to ramp up.

Retail Snapshot

With continued slow construction activity and increasing absorption, the average retail vacancy rate in the Las Vegas market continued to drop in Q1 and, at quarter end, stood at 8.4 percent. Leasing activity for the overall retail market was 461,003 square feet, representing a 48.9% increase over 1Q 12. Although a positive trend has been seen over the past year with vacancies declining, uncertainty still remains as the market waits for stability to fully return.

About Cushman & Wakefield | Commerce

Cushman & Wakefield | Commerce, an independently owned and operated member of the Cushman & Wakefield Alliance, has been the leading provider of real estate brokerage services for more than 30 years. Headquartered in Salt Lake City, the firm has offices throughout Utah, Nevada, Idaho and Washington. It offers consulting, brokerage, tenant and landlord representation, property and facilities management, and valuation services to corporations, institutions and investors throughout the Intermountain West and Pacific Northwest. For more information, and for property listings, broker information, market category reports and more visit www.comre.com.

About Cushman & Wakefield

Cushman & Wakefield is the world’s largest privately‐held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world’s major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917, it has 253 offices in 60 countries and nearly 15,000 employees. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $3.7 billion in assets under management globally. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.

Click here for the 2013 Q1 Retail Report

Click here for the 2013 Q1 Industrial Report

Click here for the 2013 Q1 Office Report

 

Jul
23
Second Quarter 2012 Nevada State Commercial Real Estate Market Reports

Second Quarter 2012 Nevada State Commercial Real Estate Market Reports

LAS VEGAS OFFICE REPORT: The office vacancy rate saw a nice decrease during the second quarter to 23.9%, compared to 24.4% in the first quarter. Of the nine Las Vegas submarkets, the Downtown submarket experienced the lowest vacancy rate of 16.4%. Read Q2 Las Vegas Office Report

LAS VEGAS MEDICAL OFFICE: The medical office vacancy rate saw an increase during the second quarter to 19.6%, compared to 19.3% in the first quarter. Read Q2 Las Vegas Medical Office Report

LAS VEGAS INDUSTRIAL REPORT: Vacancy activity saw a decrease during the second quarter 2012 to 14.9%, compared to 15.6% in the first quarter 2012. Even with the jump in vacancy last quarter, the current market has returned to the 15% vacancy rate we witnessed at the end of second quarter 2011. Read Q2 Las Vegas Industrial Report

LAS VEGAS RETAIL REPORT: The Las Vegas retail market has approximately 7.9 million  square feet of vacant property, which equates to a 14.0% vacancy factor. Read Q2 Las Vegas Retail Report

May
22
First Quarter 2012 Nevada Commercial Real Estate Market Reports

First Quarter 2012 Nevada Commercial Real Estate Market ReportsLAS VEGAS OFFICE REPORT: Analyzing the Las Vegas commercial real estate market is a lot like predicting the weather. The market continues to change quarter by quarter surprising us with unpredictable outcomes. We had hoped to once again see an improvement during the first of the year; however the market turned slightly down. Read Q1 Office Report

LAS VEGAS OFFICE MEDICAL REPORT: The overall ripple effect of the market slowdown has had a significant impact on the medical office market. As with general office complexes around Las Vegas, medical offices face the challenges of rising construction costs and overbuilding of medical condos in individual submarkets. Read Q1 Office Medical Report

LAS VEGAS INDUSTRIAL REPORT: After witnessing a very flat year in market activity during 2011, we had expected to start seeing lower vacancy rates. The start of 2012 shows a different story. Read Q1 Industrial Report

LAS VEGAS RETAIL REPORT: The leading indicators are slowly improving as shown by the increase in Clark County taxable sales. In fact, retail taxable sales ended 2011 at $40.6 billion; higher than we have seen since before 2006 ($35.9 billion) and grew since the end of 2010 where it came in at $29.9 billion. Read Q1 Retail Report

Jan
10
Fourth Quarter 2011 Nevada Commercial Real Estate Market Reports

Oct
13
Third Quarter 2011 Nevada Commercial Real Estate Market Reports

Jul
14
Second Quarter 2011 Nevada Commercial Real Estate Market Reports

Feb
24
Fourth Quarter 2010 Las Vegas Commercial Real Estate Market Reports

Nov
12
Third Quarter 2010 Las Vegas Market Reports

Third Quarter 2010 Las Vegas Market Reports

Click on the below links to view reports for each specialty.
Download LasVegas_Office_3Q10

Download LasVegas_Industrial_3Q10

Download LasVegas_Retail_3Q10

Jul
13
Second Quarter 2010 Las Vegas Office Market Report

Apr
15
First Quarter 2010 Las Vegas Industrial Market Report

Apr
15
First Quarter 2010 Las Vegas Office Market Report

Apr
15
First Quarter 2010 Las Vegas Retail Market Report

Jan
26
2009 Fourth Quarter Las Vegas Office Market Review

Read the 2009 Fourth Quarter Las Vegas Office Market Review http://www.comre.com/reports/09_4QTR_OfficeReview.pdf  

Jan
26
2009 Fourth Quarter Las Vegas Industrial Market Review

Read the 2009 Fourth Quarter Las Vegas Industrial Market Review

http://www.comre.com/reports/09_4QTR_Industrial_review.pdf

2009 Fourth Quarter Las Vegas Industrial Market Review

Jan
26
2009 Fourth Quarter Las Vegas Retail Market Review

Read the 2009 Fourth Quarter Las Vegas Retail Market Review

http://www.comre.com/reports/4th_Quarter_Retail_Report09.pdf

las vegas retail report