Las Vegas CRE News – From the Red Rock to the Hard Rock and Henderson – Commercial Real Estate News for Southern Nevada

Economic Review Q2

Since last quarter, the recession has deepened in Southern Nevada. The Las Vegas-Paradise MSA lost 58,600 jobs between May 2008 and May 2009, sending the unemployment rate to 11.1 percent.

Language of Leasing: “Class A”

       The phrase “Class A” is often found on advertising materials for office projects, but what does it mean? There’s no official classification system for office buildings, however the generally accepted practice is to divide office buildings into 3 categories: Class “A”, “B”, or “C”. The definition of each class varies by market, making [...]

In Depth: Fear of Commitment; a Guide to Lease Term

In recent years, three to five year terms were the norm for the Las Vegas office market. In the face of uncertainty, many tenants are asking for terms of one to three years. How do you determine the “right” lease term? Your real estate decisions should support your business plan. We’ll explore how two business [...]

Moving? Landlords Picking Up the Tab.

In today’s market, landlords are covering an increasing portion of the tenant improvement cost, often 100%. Factors that affect a landlord’s willingness to cover these costs include: • Tenant’s financial strength • Total cost to complete the tenant improvements • Layout of the space (unique or re-leasable?) • Lease duration What about the other moving [...]

Can I see your financials Mr. Landlord?

   Landlords review tenants’ financial statements to measure risk before entering a lease transaction. Historically, financial information has typically flowed in one direction. Current market conditions have created a new question for tenants, “What is the financial strength of my landlord?” A landlord’s financial challenges can affect tenants in several ways but typically a delay [...]

Market Buzz

   The office market continues to favor tenants. Market indicators show no immediate sign of reversing this trend. It’s likely that 2009 will be remembered as “The Tenant’s Year” as the real estate pendulum continues to swing in their favor. Current trends include: Blend and Extend Early renewals in exchange for tenant-favorable terms. Focus on [...]

Colliers VQR – Q1 Office Review

The Las Vegas office market continued to languish in the first quarter of 2009.

Colliers VQR – Q1 Economic Review

Now that we all know that Southern Nevada, and indeed much of the world, is experiencing an economic recession, it is important to understand how we got here and how we’re going to get back to economic growth.

Colliers VQR – Q1 Retail Review

The Las Vegas Valley retail market had an uneven performance in 2008, with quarterly net absorption ranging between -416,000 square feet and 1.2-million square feet.

Colliers VQR – Q1 Industrial Review

The industrial market continued to struggle with low demand in the first quarter of 2009.