NAI Alliance Wins Three Categories at the Annual Summit Awards 2014 Event

Kelly Bland with NAI Alliance Reno Retail Properties group, members of the NAI Alliance Reno Industrial Properties group, and Andie Wilson, CCIM of NAI Alliance Carson City received coveted awards at the 9^th Annual Summit Awards Event held Friday, April 18th at the Eldorado Hotel Casino Convention Center. 

NAI Alliance Principal/Senior Vice President of Retail Properties, Kelly Bland, won the 2013 award for Retail Broker of the Year for the second year in a row!  The Broker of the year award is based on total production from a broker in the retail industry.  Some of Mr. Bland’s transactions in 2013 included the renewal of TJ Maxx, DB Shoes and Michael’s stores at Firecreek Crossing located at 4821-4871 Kietzke Lane; the sale of the former K-Mart building located at 4855 Summit Ridge; and the new CarMax Development along South Virginia Street in South Reno.

Also, the NAI Alliance Industrial Property brokers received the award for the 2013 Largest Single Sale Transaction.  J. Michael Hoeck, SIOR; Michael Nevis, CCIM; Dave Simonsen, CCIM, SIOR; and Dan Oster, SIOR of NAI Alliance Reno represented the seller, PanCal Fernley LLC, in the investment sale of a 337,500sf distribution warehouse.  The building is fully leased to Trex Company, Inc.    

And finally, Andie Wilson, CCIM, Principal/Broker-Salesperson of NAI Alliance Carson City received the 2013 award for Generalist of the Year. Based in Carson City, this is the third time Ms. Wilson has won this award. A generalist doesn’t specialize in any one area of commercial brokerage, instead participating in transactions across the board: industrial, retail, office, land, and investment.

           

The Summit Awards of Northern Nevada recognizes notable achievements in the commercial real estate sector from 2013. The Summit Awards is the only awards program of its kind in Northern Nevada to encourage and recognize distinguished commercial agents, brokers, property managers, developers and projects.  The annual Summit Awards are sponsored by the Northern Nevada chapters of CCIM, CREW, and NAIOP.

Q3 2013 Retail Market Report Now Available

Recovery is continuing, however, history says we need to persevere and be prepared for a long run.  A very slight increase in vacancy (.02%) in Q3 2013 is still nearly a full percentage point lower than Q2 2012.   

The anchor space vacancy is currently at 13.52%. In-Line shops have increased in vacancy to 23.46% this quarter from 23.42% last quarter. Total net absorption for this quarter was a negative 7,162 square feet, while the gross absorption was 68,391 square feet.

New tenant locations and new investments are happening.  Positive news for tenants is that there are good rates on good spaces available.

Many of the underlying statistics are improving. Housing value and consumer spending are trending higher, housing sales are increasing, while unemployment has dropped significantly. These numbers allude to an improving local economy.

Things are picking up, but we must be patient in the retail sector. 

To read the entire report click here.

NAI Alliance Q2 2013 Retail Market Report Now Available

The Northern Nevada economic climate is showing signs of improvement, perhaps indicating that the retail vacancy rates may have peaked. The current overall vacancy level in Reno/Sparks declined to 17.54% from the previous quarter of 18.25% and from the previous year of 18.52%. 

The anchor space vacancy is currently at 13.52%. In-Line shops have increased in vacancy to 23.42% this quarter from 23.10% last quarter. Total net absorption for this quarter was 104,226 square feet,
while the gross absorption was 201,501 square feet. 

Click here to read the entire Q2 2013 Retail Market Report from NAI Alliance. 

NAI Global Economic Briefing - Thursday July 11

Please join Dr. Peter Linneman, NAI’s Chief Economist & Jay Olshonsky, NAI Global President July 11, 2013, 12:00 PM – 1:00 PM Eastern for an enlightening briefing on the global economic environment.

Where are we in the recovery? Which markets still hold investment opportunities?  Dr. Linneman will address several topics during this Web conference including:

• Real Rent Analysis: Which markets are below historical averages?
• A comparison between this cycle and the 1990s
• More reasons the Euro will fail
• How we are repeating Japan’s mistakes
• An update of capital markets
• Social Security implications as the boomers retire

 Registration is required for the event.  Please click here for registration instructions and information.