REBusinessOnline

Vegas Shows Resilience with Strong Economic Growth in Retail

By Jeffrey Mitchell, Principal Broker, Mountain West Commercial Real EstateLas Vegas experienced the second largest unemployment rate at the start of the COVID-19 pandemic in April 2020. Since then, the Las Vegas Metro has come a long way in recovering economically. It continues to see growth, particularly in the retail sector.Some key factors as to why Las Vegas has been on a continued trajectory of growth include the migration of residents, capital from across the country (with …

Mixed-Use Industrial Sector Soars in the Inland Empire

By Dan MacDavid, Principal, AOMixed-use industrial has become a significant economic driver in the Inland Empire. Cities are benefiting from business synergies, additional tax revenue, high-quality design and civic engagement that builds community. The recent mixed-use trend can be attributed to one key change: the significant growth in size and scale of industrial master plans over the past few decades, combined with a new approach to industrial as a partial result of the …

Available Land, Developer Talent Boost Kansas City’s Industrial Scene

2021 was a historic year for Kansas City industrial real estate. The local market size eclipsed 300 million square feet of space, representing the 16th-largest industrial market in the U.S. Class A building inventory is nearly 44 million square feet, ranking 15th in the nation.  Of the industrial building inventory, 14.4 percent is Class A, ranking ninth-highest in the country, suggesting the inventory that we have is quality compared with other U.S. markets.    Capital markets are firm …

Southern Nevada Suburban Office Market Demand Improves

By Wes Drown, Broker Associate, REMAX CommercialThe Las Vegas Valley continues to see growth in the demand, velocity, rates and a decline in incentives as Vegas bounces back. This is led by the return of our entertainment industries, which are almost to pre-COVID levels, in addition to the massive demand for housing and commercial construction. All you have to do is take a drive around the 215-Beltway to see that activity is everywhere. The news-grabbing projects that are seemingly …

Grocery Chains and Other Retail Categories are Making Hay in Mid-Atlantic Region

The Washington, D.C., and Baltimore markets, when combined, represent the fourth-largest metropolitan region in the nation by population, and retailers are taking notice again. Grocery-anchored projects are the most prevalent in the headlines. For example, the first of nearly 20 Amazon Fresh locations has opened in the area. Additionally, Wegmans’ smaller format rollout plan is active with its first location in Stonebridge’s Carlyle Crossing in Alexandria opening spring 2022, along with …

Kansas City Retail Market Continues to Evolve During COVID-19

To the surprise of many in the Kansas City retail sector, the end of 2021 looked much different than most anticipated when 2021 began. As uncertainty buzzed through the retail world, the flurry of 2021’s real estate activity was a welcome surprise. Retailers who embraced technology and adapted to the changing circumstances of today’s world were able to reap the benefits 2021 offered.  As consumers took advantage of post-lockdown freedoms, brick-and-mortar retailers experienced a surge in …

The Boise Retail Market is Augmented by Local Growth

By Tim Reid, First Vice President, CBREBoise’s retail market continues to show signs of resiliency in the wake of a global downturn caused by the pandemic. Though retail companies pivoted their business models to accommodate social distancing policies and provide contactless options last year, many were still forced to close their doors. The retail outlook is now much brighter after the industry experienced an incredibly turbulent year. Beginning in April, Idaho’s year-over-year …

Reno Retail Makes a Favorable Comeback After a Devastating 2020

By Tad Loran, Vice President, Retail Specialist, Avison Young | Western Alliance Commercial Inc.The Reno retail market was hard hit overall by the pandemic, with the service industry at the top of the list. Some notable businesses that closed in Reno last year include Santa Fe Basque Restaurant, Truckee River Bar & Grill, An — Asian Kitchen & Bar, Little Nugget Diner, True NY Pizza Co., Rounds Bakery Storefront, Jos A. Bank, St. James Infirmary, 24 Hour Fitness and Pier 1 …

Ongoing Population, Job Growth in Atlanta Drives Multifamily Demand

Atlanta remains an incredibly active market for multifamily demand from both a renter and investor standpoint. The Atlanta metropolitan statistical area (MSA) boasts a population estimate by the U.S. Census Bureau of more than 6.1 million people, an increase of 14.3 percent over the past 10 years, and ranks consistently as one of the top recipients of in-migration in the country. The continued influx of new residents and rising home pricing have led to a vacancy rate of 4.9 percent, the lowest …

Two Proposed Port Container Projects Could Catapult NOLA’s Industrial Sector

The current state of the New Orleans industrial real estate market can best be described as “dichotomic.” On the one hand, New Orleans has the stability of a mature market featuring one of the largest and oldest ports in North America, traditionally serving heavy industry that continues to perform. On the other, you have two new proposed container port projects that could significantly alter the landscape of the industrial real estate market for the foreseeable future.Like so many other …

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