SVN EXPANDS REACH IN LAS VEGAS WITH ADDITION OF SVN | THE EQUITY GROUP

Posted on January 9, 2019 by SVN

Boston, MA (January 9, 2019) SVN International Corp. (SVN), a global commercial real estate company, announced today the addition of Las Vegas-based The Equity Group as its newest franchise. The new franchisee will now be known as SVN | The Equity Group.

Established in 1980 by Scott Godino, SVN | The Equity Group currently manages 100 properties in Southern Nevada, totaling close to 7 million square feet of commercial real estate. The firm’s longevity, spanning nearly forty years in the market, made it a good fit to become SVN’s Las Vegas franchisee.

“Our team will continue to offer the highest level of commercial brokerage, leasing and property management services while making full use of the enhanced capabilities in technology and national reach that SVN provides,” said Scott Godino, founder and chief executive officer of SVN | The Equity Group. “This is an opportunity for us to gain a competitive advantage in the market by attracting new clients and brokers who want to work with a proven team that has an established global reach.”

“SVN | The Equity Group’s management team shares SVN’s vision and culture. The firm’s client-centric focus reflects our core covenants on how we do business,” said SVN’s Vice President of National Franchise Sales and Development Marc Seinfeld. “SVN has one of the industry’s largest footprints domestically, and many of our domestic and international clients look at the Las Vegas market when investing.”

For more information on SVN | The Equity Group, click here.

For more information on SVN International Corp., click here.

SEARCH PROPERTIES | FRANCHISE WITH SVN

Las Vegas, NV | 2016 Top #CRE Markets to Watch: Retail

Posted on August 10, 2016 by SVN

SVNIC’s 2016 Market Outlook Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2016. Today we are delving into the 2016 Top Retail Markets to Watch. Not the largest or the most actively contested markets, the 2016 Retail Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

Top Retail Market to Watch: Las Vegas, NV

As tourism growth has once again led Las Vegas to new heights in overall employment, the unemployment rate is still falling as it sits at 6.5% as of January ‘16 while jobs are being added at a 2.5% annualized rate, according to the Bureau of Labor Statistics. Construction is the fastest growing employment sector at an 11.0% annualized rate followed by Education and Health Services at 8.1%. Las Vegas took a pause in population growth due to the recession but the pace is likely to grow in 2016 and beyond; still, the city grew by 5.0% from 2010 to 2014, according to the Census Bureau. Growth in tourism will spur the need for tourist-focused retail in popular locations like The Strip; however, overall growth will also increase demand for retail to service the local population. Over time, Las Vegas is likely to diversify from tourism and become a more balanced economy.

Stay Updated…

Over the next few weeks, the SVN Blog will be featuring posts that will focus on each of the top markets to watch for industrial, multifamily, office, and retail properties. SVN Advisors from selected top markets have provided their industry expertise regarding what to look out for in their specific market in the coming months. Don’t miss out on these important insights – subscribe to the SVN Blog on the right side of the blog homepage.

To read more on other top retail markets, download the full version of the 2016 Retail Market Outlook report here.

[bctt tweet=”Las Vegas, NV is one of 2016’s top retail #CRE markets to watch.” username=”svnic”]

An Advisor's Take on ICSC: Noticing the SVN Difference

Posted on July 14, 2016 by SVN

Experiencing the SVN Difference at ICSC in Las Vegas

Walls, doors, whispering and winks. All of these were present at this year’s ICSC convention. Not that these are in and of themselves bad, but it was these differences that I noticed between our SVN booth and most others.

Our SVN booth was not the biggest, definitely not the most extravagant, but it was packed, well-lit, there were no back rooms for private conversations, or doors to suggest that only someone more important than me can go there.

As I walked around, almost 2 years into a Commercial Brokerage career with SVN | Cornerstone in Spokane, WA and my second ICSC, it struck me, that’s another example of our SVN Difference.

Opening Closed Doors: The SVN Difference

The SVN booth at ICSC in May.

We aren’t about walls and doors or whispering and winks. We are about visible opportunities and “sky’s the limit” access to information with our culture of collaboration.

At SVN we have regular access to our top Executives, our Managing Directors, other offices who have done what we are trying to do and world-class technology platforms to do it well. And that kind of environment is exactly what our industry needs to attract future talent.

Professionals my age want to know we have a chance. We want to know that if we work hard we will have as good of a chance as any to create a respectable income for our loved ones. That if we don’t have access to closed doors and are separated by fancy walls, we still have access to opportunity.

And that’s a big part of the SVN Difference. Opportunity. And that’s exactly the opposite of what those walls, doors, whispering and winks produce.

We are a country founded upon the value of opportunity. If I can just get a chance, don’t give it to me, but give me a chance and I will out work the other broker.

That’s what SVN does. We get all the tools, the right culture and a chance. What else can someone ask for?

To learn more about the SVN Difference, visit the Why SVN page here.

[bctt tweet=”That’s what SVN does. We get all the tools, the right culture and a chance. #CRE” username=”svnic”]

The CRE Advisor's Guide to Surviving ICSC RECon 2016

Posted on April 27, 2016 by SVN

Getting Ready for RECon 2016

As you’re probably aware, ICSC’s annual RECon is the event of all events for those in the commercial real estate industry, and an even bigger deal for those who specialize in retail. With over 40,000 attendees predicted to attend, and over 1,000 company booths, it’s a wonder how you will be able to see everything you want to see, learn everything you made the trip to learn, and network with the individuals you desperately need to meet.

Here are a few tips to survive Las Vegas this May:

Plan ahead. If you haven’t already started thinking about this then go do it, like, now. The ICSC website has a list of all the attendees and booths that will be at the conference. Sit down and highlight which markets you would like to focus on, and who you want to meet in those markets. Find out if they have a booth, and schedule as many meetings as possible. Make a map of the convention center, highlight the booths you plan to see, in what order, and try not to get lost!
Get the important things done first. As the conference drags on, many attendees will start to get bored or tired, and may not be hanging around for the last day and a half. Make sure you are scheduling meetings with the people you must see, and must talk to, first. Create a second “potential” list for the people you would like to speak with if you have time, or happen to run into at their booth. This way you are keeping your priorities in order, and making sure your time is well spent.
Enjoy your time. There is no doubt that the conference can become hectic. Take advantage of this opportunity by introducing yourself to as many people as possible. The chances you are connected may be slim, but who knows who you will meet. RECon provides the best opportunity to expand your network and increase your business and deal flow.

Now that you’ve set up some meetings, take a deep breath and get excited for this action-packed weekend. And don’t forget to stop by SVN at booth C162F to find out what our Advisors have been up to! Click here for directions to the SVN booth C162F.

Oh, and amid all this preparation and excitement for #RECon2016, don’t forget to book your flights…

[bctt tweet=”Don’t forget to stop by SVN at booth C162F to find out what our Advisors have been up to! #RECon2016 #CRE ” username=”svnic”]

Las Vegas, NV | 2015 Top #CRE Markets to Watch: Retail

Posted on June 2, 2015 by SVN

Sperry Van Ness International Corporation’s (SVNIC) 2015 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2015. Today we are delving into the 2015 Top Retail Markets to Watch. Not the largest or the most actively contested markets, the 2015 Retail Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

Top Retail Market to Watch: Las Vegas, NV

Brick-and-mortar retailers across the country are struggling against competition from online commerce. In downtown Las Vegas, however, e-retailer Zappos, along with other tech firms, is creating jobs and helping to diversify the market away from its traditional gaming base. In 2013, the online shoe seller acquired the former City Hall building, transforming it into its corporate headquarters. The company’s chairman additionally purchased about 100 surrounding parcels and has invested nearly $350 million in The Downtown Project, backing everything from the development of an elementary school and a healthcare clinic to establishing a tech start-up incubator. While these are not retail investments, per se, they are essential elements of the complementary live–work–play environment that is proving ever more important for the success of retail spaces.

Across the Las Vegas market, CoStar reports an unenviable retail vacancy rate of 9.6% as of the fourth quarter of 2014. Malls boast much lower vacancy rates but are balanced against a 14.8% vacancy rate for neighborhood centers. Vacancy rates are projected to trend lower in 2015 and 2016, owing largely to limited new supply, but rent growth will remain subdued in the near term.

In the realm of retail spaces catering to tourists, the draw of Las Vegas remains on the Strip, and, in recent years, casino operators have been investing in retail and restaurant opportunities. New York, New York added several storefronts along the Strip near the Brooklyn Bridge replica, including the 12,000-square-foot Hershey’s Chocolate World flagship store. In 2014, the LINQ Hotel & Casino opened its 300,000-square-foot open-air retail center, anchored by the High Roller, a 550-foot observation wheel. Other retail additions at Treasure Island, Bally’s, and the new Tropicana are at various levels of completion. Investor interest in Sin City had slumped in the aftermath of the housing bust; however, led by the Blackstone acquisition of The Cosmopolitan hotel complex late last year, many investors now have Las Vegas back in their sights.

To read more on Las Vegas and other top retail markets, download the full version of the 2015 Top Retail Markets to Watch report here.

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisors with more than 180 locations in 200 markets.

Las Vegas, NV | 2014 Top CRE Markets to Watch : Apartment

Posted on November 6, 2014 by SVN

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Apartment Markets to Watch. Not the largest, or the most actively contested markets, the 2014 Apartment Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

TOP APARTMENT MARKET TO WATCH : Las Vegas, Nevada

Apartment developers are playing a game of chance in Las Vegas. Encouraged by the first increase in average rents since the Great Recession and a recent improvement in the vacancy rate, projects in the pipeline could deliver as many as 3,000 multifamily units in 2014, a tenfold increase from the previous year. Granted, the local population will increase by 2.7 percent this year alone, making it one of the fastest growing U.S. cities. Yet this market must dig itself out of a deeper housing hole than most, and still has a ways to go. The apartment vacancy rate of 9 percent is more than 10 basis points above the historical average. Average rents have only recovered to 80 percent of the pre-recession peak, and thousands of single-family homes remain on the rental market. The nascent recovery merits some development but is unlikely to float all boats in 2014.

To read more on Las Vegas, and other top multifamily markets, download the full version of the Top Apartment Markets to Watch report below.

It’s a different world out there.

Download the Top Trends and Markets to Watch Reports

Apartment Trends and Markets to Watch
Office Trends and Markets to Watch
Industrial Trends and Markets to Watch
Retail Trends and Markets to Watch
Commercial Real Estate Trends and Markets to Watch