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Mt. Rose, Reno Nevada (View of Lake Tahoe)
Once again, a great business cost comparison for Nevada Vs Idaho from NV Energy, Nevada’s One & Only Economic Development Website.
Click the link below for an in depth comparison of the two states:
Business Cost Comparison: Nevada Vs Idaho
Click the link below for NV Energy’s Website
(Picture)Montreux Golf Course & Mt. Rose Ski Resort, Reno Nevada
Another great business cost comparison for Nevada Vs Arizona from NV Energy, Nevada’s One & Only Economic Development Website.
Click the link below for an in depth comparison of the two states:
Nevada Vs Arizona Business Cost Comparison
Click the link below for NV Energy’s Website
”The incentives of doing business in Nevada are expansive. Nevada boasts one of the most liberal tax structures in the nation and from a tax-planning perspective, the return on investment in the form of tax saving dollars can be enormous. Explore the numerous advantages of doing business in Nevada.”
- Nevada Energy
Great Link to Nevada Energy’s Site explaining why living and working or owning a business in Reno is extremely beneficial!
More commonly practiced in Residential Real Estate than Commercial Real Estate, the notorious “Buyer Broker Agreement” may be worth bringing into everyday play for the Commercial world.
The State Law in Nevada allows an agent to enter into a buyer representation agreement via orally or written. This is the law! That’s all fine and dandy until 1 or more minor or extravagant details are overlooked and that oral/verbal agreement becomes questionable. This game of “he said-she said” can become quite an issue, if not a catalog! Buyer representation disputes can be nasty. Pretty soon, everyone and their brother want a piece of the pie, and if you’re not careful with this, you can end up landing yourself in front of a judge! So… How do we prevent this?? Do as the residential agents do…
The Reno Sparks Association of Realtors recommends that Commercial agents utulize the “buyer Broker Agreement”. This adds additional protection for all parties involved in the deal. As a “Realtor”, which is different than holding the title, “Real Estate Agent”, we are held to a higher code of ethics.
All you Commercial Real Estate Agents out there that happen to be Realtor’s as well, Check out Article 9 in your Realtor Code of Ethics, and decide if it is time for you and your fellow brokers & agents to bring the ”Buyer Broker Agreement” into effect!
Interesting Reno & National Retail market stats from Costar.
Check out the links below:
Which comes first, the chicken, or the egg? The age old question that’s left millions pondering since the beginning of time. Some firmly believe in the egg, others’ loyalty lay with the chicken. So how do we relate this to Commercial Real Estate? Here we go…
The buzz at the water-cooler lately, is that the Reno & National Markets are turning around. With New home prices at an all time low, short sales/ REO’s getting snatched up in a New York minute, land available for pennies on the dollar, and smart investors getting the itch to finally make their move, some predict an over-correction in the market, soon!
Staying on this Media backed “positive note” regarding the market rebound… Which industry comes first? Housing? Land? Office/Industrial? Retail?
You would think that because of Nevada’s lack of State Tax, Homestead Law, unlimited number of outdoor activities, and an infinite list of additional benefits & attributes that attract potential employees to Nevada, business owners from California & surrounding states would wise up and make the move to Reno. Wouldn’t businesses make the move into offices, industrial buildings, retail space, or purchase land to build new space? That business would in turn create new jobs, which equal new employees. New employees then create a need for housing, which creates, once again, a need for land! This pattern is what some would assume, but history proves differently.
The natural order for the Commercial & Residential markets returning after the infamous ”R word “( of which we do not speak of anymore) is past, is this:
1.Housing 2.Land 3.MF 4.Office/Industrial, 5.Retail This doesn’t mean that office and industrial will not make any deals in the mean time. Right now much of their business is being generated by people downsizing or moving around for a better deal in the marketplace. There are also those lone investors out there snatching up high cap rate buildings since they are currently cash-flowing assets, as opposed to land. But as far as new faces moving into the market place, historically, this has been the natural order of things. Only time will tell.
So, back to the chicken or the egg deal: Will Residential drive Commercial this time? or will Commercial feed Residential? I would love to hear your feedback Reno!
Great Article this Morning on Cinco de Mayo. Looks like the tides may be turning for the economy. I’ve seen different attitudes in consumers & investors lately in the new home & commercial real estate world. Americans are impatient & support change. What goes up, must come down, and then go back up again. Since man has created currency, there have been fluctuations in wealth & prosperity. After seeing an enormous drop in new home prices in the last couple years, and the vacancy rate for business skyrocket, we have reached a plateau & are ready as a nation to start plowing ahead again. The media is catching on & I feel that this whole depression/ recession debauchery will be a thing of the past by summer of 2010. Wishful thinking regarding the timing? Maybe. As that I am up close &personal with the Commercial Real Estate world, as well as a hop skip and a jump away from the Residential Real Estate Community, there have been notable changes in activity and attitudes that haven’t gone unnoticed!
Check out the article & link below!
News Alert from The Wall Street Journal – Sponsored by NASDAQ
The U.S. recession appears to be losing steam, with growth likely to resume later this year on the back of firmer household spending, a bottoming housing market and an end to inventory liquidation, Fed Chairman Ben Bernanke said Tuesday. But Bernanke said that the recovery will probably be slower than usual, and warned that the unemployment rate may stay high “for a time” as businesses remain cautious about new hiring.
http://online.wsj.com/article/SB124153102795887367.html#mod=djemalertNEWS
Did you know??
Fred Miller & Tom Young of Fennell & Assocaites Commercial Real Estate Solutions represented Ryan Gold & Justin Owen in the lease of a vacant office building at 150 N. Arlington Ave. After a considerable investment was spent on TI’s, Ryan & Justin created the infamous Imperial Lounge!
When Ryan Gold and Justin Owen set out to create the Imperial Bar and Lounge in March of 2007, they wanted to create a casual atmosphere downtown, separate from the tourist scene.They succeeded! The Imperial Lounge attracts a college and business professional demographics. Imperial’s happy hours last from 5 to 7 p.m., resuming from 10 p.m. to midnight. Fred Miller and Tom Young have sold Ryan & Justin several other properties in the Reno area on West and East 4th Street contributing to the success and boom of Commercial Retail Leasing & Sales in Downtown Reno.
In addition to the Imperial Bar & Lounge, Ryan & Justin have opened The Lincoln Lounge, located at the location of the old Reno Jazz Club, right across the street from Louis’ Basque Corner. The first thing you’ll notice about LL is the stark, black exterior… No external signage, and no real way of knowing the place is there. This is intentional, as they’re going for kind of a speak-easy feel.
Once you walk in the door, the atmosphere is .In keeping with the speak-easy feel. There’s two main seating areas, with antique furniture. There’s old school high backs, with lots of scrolled wood work, velvet couches, and the entire theme is based upon Abraham Lincoln. The walls, decorated with pictures of our late president Abraham Lincoln,have this foil wall paper with a velvet like material in fleur-de-lis patterns – it would be gaudy in most places, but it works for this place. The molding and the bar front have been recycled and refinished from a previous bar. There’s a second room with shuffleboard, and some more traditional seating. The patio is now open for summer! The Lincoln Lounge is an eclectic mix of the roaring 20′s meets Disneyland Haunted House.
Check out the link below for more information!
Steve K. Jones
Areas of focus:Retail
Office Phone: 775.321.3331
Cell Phone: 702.332.3424
Fax: 775.850.7010
sjones@fennellcre.com
Professional Background: As a professional geologist, Steve Jones has worked throughout the Americas from Alaska to Argentina, but feels that the Reno area offers one of the best environments in the western hemisphere to live and work. Having grown up in Ely, in Eastern Nevada, and attending UNR in the 1970’s, Steve is also very familiar with Northern Nevada, it’s people, and business opportunities.
Having Worked for 31 years in the mining industry has enabled Steve to gain a strong grasp of the issues facing new and established businesses in Northern Nevada. Working for many years in Argentina & Europe gives him an international perspective as well, that can be beneficial to prospective clients relocating to the Reno area.
Aside from the tax advantages we reap as business owners in Nevada, a long train of additional benefits have surfaced recently and deemed the Silver State as one of the most preferable locations to operate a successful business. Cali residents are a bit jealous, I think. Many think it’s only going to get worse for Californians & frequent border crossing is in Reno’s immediate future. What does this do for the Commercial Real Estate Industry? Nothing but generate heaps of business. I feel proud to be a Nevadan working in the Commercial Real Estate Industry right now. As a former native of San Diego California, I’m glad I moved up here when I did, 7 years ago. Just in time to miss out on California’s Giant Debt Attack. Check out the article below!
http://www.rgj.com/article/20090425/BIZ05/904250324/1071/BIZ
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Dickson CommercialP 775.850.3100F 775.850.7010info@dicksoncre.com
