Good evening everyone!
One of the things I am committed to this year is capturing value add, take-aways, and “ah ha’s” from the various events that I attend throughout the year.
Feel free to pass these along as they come to employees, clients, vendors, etc. Enjoy!!
Wednesday, January 11th the Southern Nevada SIOR Chapter kicked off the year with a great meeting! The presenter was Gardner Company who gave an overview of the UNLV Harry Reid Research & Technology Park. This project is +/- 122 acres located in the southwest starting at the Durango and Sunset. The unique aspects of this project is that it is on a ground lease with the UNLV Foundation and the tenants have to have some aspect of their business in research and development or technology.
At the end of each SIOR meeting there is a round table discussion where the top office and industrial brokers weigh in on the latest trends, stats, cap rates, lease rates, everything. It is also a great opportunity to hear from lenders, contractors, architects, developers and title companies. Below is more information on my takeaways from the market round table.
- Sign of the times – the room was at capacity. People stayed well after the meeting talking, presumably about deals. The energy was high.
- Architects are being released and hiring more staff. They are the tip of the spear for new developments.
- Consultants are being engaged for feasibility studies on all product types. They are also on the tip of the spear.
- Overall sentiment is 2017 will be as busy if not busier than 2016
The SOCIETY OF INDUSTRIAL AND OFFICE REALTORS® SIOR is the leading professional office and industrial real estate association.