NAIOP Developing Leaders recently attended their Architecture class sponsored by Martin-arris Construction and held at the Cushman & Wakefield office. The class was treated to insights and expertise from Jennifer Turchin, Principal of Coda Group, Chris Larsen, Principal of PGAL, LLC along with Julie Cleaver, Vice President, Planning & Design at The Howard Hughes Corporation.

The class learned about the role of the architect, building design versus urban design and the design process in addition to reviewing case studies from local projects. Jennifer spoke in-depth about the architectural process and different types of contracts. Chris provided acumen on some of the current large scale projects including, the convention selection process, the College of Southern Nevada expansion and on-going hotel renovations. Julie spoke on space planning, parking, landscape, and the importance of scenery, ingress/egress and logistical portions of a project.

Now four months into their year-long DLI Program, this group of young leaders are excited to begin work on their class projects!

2018 DLI Class Vice President
Brenden Graves, Director of Client Services
DC Building Group
702.434.9991 C: 702.957.0600
E: BrendenG@BuildWithDCBG.com

As many of you know, the Communications Committee surveyed the attendees at the February breakfast. This survey was intended to give us insight about our member’s social media habits. We had over 105 survey responses and gathered some interesting data. Hopefully, many of those that answered the survey are reading this month’s newsletter.

According to the survey results:

  • Over 66% of the audience receives our newsletter and find it informative
  • Over 75% of the audience use Facebook and LinkedIn
  • 43% use Instagram,
  • 28% use Twitter
  • 20% use YouTube
  • Facebook and LinkedIn are visited most often

I know that my company has made a big push over the past year to be present on social media and we will continue to do so. Does your company use social media to engage with clients?

If you’re on social media please make sure to follow NAIOP Southern Nevada and engage with us.  You can follow us at:

: NAIOP Southern Nevada Chapter

: NAIOP Southern Nevada (Company Page)

: @NAIOPSNV

Communications Committee Member
Cassie Catania-Hsu, Managing Director/Broker
Sun Commercial Real Estate, Inc.
Direct: 702-968-7324 | Cell: 702-556-7100
cassie@suncommercialre.com | www.suncommercialre.com

Click here for a link to a podcast that explores learning from the wisdom of others below.

Rick Myers is the President of Thomas & Mack Development Group – a commercial real estate development company with projects throughout Las Vegas, Nevada. Hayim Mizrachi is the President | Principal of MDL Group – a commercial brokerage and property management company in Las Vegas. They are both active in NAIOP of Southern Nevada.

In fact, Rick and Hayim met in 2009 through the NAIOP Southern Nevada Developing Leaders Institute. Rick was the instructor, Hayim the student. Hayim always envisioned that Rick would be the first guest for this podcast. Rick was the one who taught Hayim to consider “what are you going to say when you get the microphone.” He also taught him about “stature” and how “it matters”… how technical proficiency matters. Those concepts are revisited in this episode.

What is amazing is how much more there is to learn from Rick during this conversation. Like, what does Rick mean when he says “dealing from the middle”? And most surprising was how Rick was coached in high school basketball by John Wooden and college football by John McKay!! These are legendary coaches!! There are so many more Takeaways in the Episode. Let’s not spoil the fun. Enjoy!! And please share your Takeaways in the comments.

Hayim Mizrachi, CCIM
President | Principal
MDL Group
T 702.388.1800 | C 702.340.9600 | hmizrachi@mdlgroup.com
www.mdlgroup.com

Click Here for the DLI Class #5, Architecture Class Overview

DLI Class #4, Commercial Finance, was held on January 8th at the Cushman & Wakefield office and began with a sponsored message from Bank of Nevada. The point was driven home that these are relationships that will last throughout our careers, and these are the people that will rally around us and make sure that we have solutions for our clients. This is something we have already started to see throughout our first few months in DLI. The first speakers were Paola Gonzalez and Carla Jewell with Nevada State Development Corporation. They went into detail about the SBA 504 Program, the qualifications, types of clients that would benefit, and types of properties that qualify.

Dennis Balletto from Bank of Nevada then spoke about construction financing and how that financial instrument can be used during the building process. He also covered the underwriting criteria lenders review when evaluating a project and borrower. Lastly, Kyle Nagy with CommCap Advisors walked us through permanent finance along with the different loan programs available from Life Insurance Companies, CMBS Lenders and Banks. The class was well received and everyone now has a better understanding of how to finance their projects!

2018 DLI Class Vice President
Brenden Graves, Director of Client Services
DC Building Group
702.434.9991  C: 702.957.0600
E: BrendenG@BuildWithDCBG.com

“It was the best of times….”

The new year always seems to start of with an air of enthusiasm and excitement. Listening to the State of the City addresses for Henderson, Las Vegas and North Las Vegas certainly supports that. Though all three cities have similar goals and long range plans, each approach in execution is markedly different. I’m going to concentrate mainly on the issues impacting economic development with respect to property development, construction and real estate.

All three cities are primarily devoting their time, energy and monies toward three issues:

  1. Quality Education
  2. Infrastructure Expansion and Upgrades
  3. Economic Diversification

Quality Education: All three mayors recognized quality education, at all levels, as one of the top factors needing improvement for continued advancement and success. This translates to new schools – public, charter and private – and to new after-school programs. It also means new workforce training programs for new businesses locating in their respective cities and expanding higher education programs to service new business types not presently in the valley. While some of this is out of their jurisdiction with existing school systems, each touted new charter schools, private schools and CCSD schools completed within the past year and others planned for the upcoming year.

Infrastructure Expansion and Upgrades: With added growth and development in all three cities, the mayors acknowledged the need to expand the infrastructure reach and upgrade existing aging infrastructure. They agreed that this includes basic utility services, streets and roadway design, public transportation, technology (fiber, wi-fi, communications, data, etc.) and public amenities (parks, recreation and related services). Henderson and Las Vegas remarked on Smart Cities and Complete Streets as influencers in designing infrastructure and pedestrian friendly, walkable streets with integrated bike lanes and mass transit lanes. Also for consideration are alternative mass transit systems (autonomous vehicles, bike share programs, etc.) to promote sustainable growth. Additionally, each city had a list of new parks, libraries, fire stations and recreation facilities supporting expansion.

Economic Diversification: Probably the biggest topic discussed was Economic Diversification – and this is where they differ in execution. All three cities have recently completed Master Plans identifying growth, types of growth, expected growth locations and the benefits associated with the growth.

City of Henderson:  In her first State of the City, Mayor March identified Economic Diversification in three key areas for development/redevelopment, each of which support their three major growth/diversification markets of Healthcare, New Commercial and Entertainment and SPORTS.

  1. Union Village surrounding area,
  2. Downtown Water Street District
  3. West Henderson

Union Village has become synonymous with Healthcare growth and has a strong anchor with the recently opened Henderson Hospital and related MOB. 2018 plans for growth there include: a Wellness Center, 200 unit independent and assisted living facility, 100 unit memory village, dialysis facility, 8 acres of retail, 2 additional 100 bed hospitals and an acute care hospital.

Downtown Water Street is being revitalized with infrastructure upgrades to support the new commercial, residential and entertainment locating there. 2017 saw a new coffee house, restaurants, and offices opening in downtown as well as Last Friday events and other expanded happenings on the plaza. 2018 has additional office and residential planned for downtown and an expansion of Water Street to include additional entertainment areas and commercial locations.

The big news for Henderson was, of course, the Raiders practice facility and management offices being located in West Henderson. Fifty-five acres will be sold to the Raiders for their facilities, firmly anchoring sports in the West Henderson area. The $75M facility adjacent to the Henderson Executive Airport will house practice fields,  the corporate HQ, Sports MOB and the Operations and Support buildings. In that same area, but independent of the Raiders announcement, a developer recently announced a 110 acre project just east of the M Resort. The Block is a development planned for 3,000 dwelling units in low-rise, mid-rise and hi-rise mixed-use and 500,000 SF of retail, office and entertainment venues.

These areas don’t include the continued expansions in Inspirada, Cadence and north along Boulder Highway. One word to sum up the City of Henderson is EXCITING.

City of Las Vegas: Mayor Goodman began her address on a somber note by touching on the 1 October event but quickly moved forward on a positive note. Like Henderson, the City of Las Vegas plan also has three key areas for development/redevelopment in the areas supporting growth and diversification of markets – Healthcare, New Commercial and Entertainment and SPORTS.

  1. Las Vegas Medical District
  2. Symphony Park
  3. Downtown

The Las Vegas Medical District is slated for major expansion in the healthcare arena anchored by the new UNLV School of Medicine soon to break ground. The existing UMC Medical Center has planned a new tower expansion and a 1,000 vehicle parking structure to be shared by all uses in the area. These major developments have spurred a lot of private developers in the district for mixed used residential, MOB’s and related support developments.

In Symphony Park, the city has released a number of lots making it more attractive to developers and Planning has reviewed two 300+ unit mixed use residential developments, a 1,000 vehicle shared garage and a hotel/casino on the northern most parcel. The new owners of the World Market are looking expand existing facilities to accommodate their trade show and convention growth. This area will also benefit with direct access to I-95 as part of the Project Neon Expansion. Downtown Las Vegas is continuing the expansion of entertainment (casinos), the cultural corridor and residential. A number of downtown casino properties completed remodels in 2017 and the D and Las Vegas Club are renovating/expanding in 2018 along with a remodel and upgrade of the Fremont Street Experience canopy. Mayor Goodman also hinted at the possibility of another El Cortez expansion. Downtown is expanding the cultural corridor to the Neon Museum and will relocate the Natural History Museum to the library (and old Discovery Museum) across the street. Downtown is encouraging and expanding residential downtown with Fremont 9’s 231 unit/ 15,000 SF retail mixed-use development nearing completion. This will help fill an identified 5,500 residential unit shortage in the city.  Not to be outdone by Henderson and the Raiders, the number one sport in the world will have a home at Cashman Field. The Las Vegas Lights will share the field with the 51’s until their new home is completed in Summerlin. (No fireworks or cheerleaders to accompany this item – point goes to Henderson.) One word to sum up the City of Las Vegas is EXCITING.

City of North Las Vegas:   Mayor Lee started his address with a drive to reinforce their city’s financial stability. They have a balanced budget and are no longer junk bond status. He built a strong case that North Las Vegas is easy to do business with and is a great investment opportunity for investors, developers and businesses. The key areas for development/redevelopment are spurred by the abundant availability of land and support their two major growth/diversification markets – Industrial/ e-Commerce and New Commercial/ Entertainment.

1.) The industrial areas from the Las Vegas Motor Speedway north to APEX

2.) Downtown North Las Vegas

3.) Planned residential communities to the west

The city’s  goal is to be the premiere Industrial/e-Commerce area in the region with national distribution centers – even with Faraday (the new “F” work of CNLV) pulling out of Apex. Mayor Lee described the expansion of the Prologis, VanTrust, Amazon and Hyperloop developments and teased a non-announcement of two “game changing” developments coming to Apex in 2018. With new infrastructure extending to Apex for water, developers have fewer roadblocks. Aligned with their push for development is a revamping of city departments to make it easier and simpler to do business there (i.e. self-certification of design professionals).

The downtown area of the North Las Vegas is experiencing a renaissance with a new 14 screen, $75M, Maya Entertainment Center, a new library and a learning campus all connected by a new park –located adjacent to the City Hall development. With an abundance of land, North Las Vegas saw 14,000 residential lots come on line in 2017 and expects a similar number in 2018. Another key point is their plan to grow the tax base through economic development without stealing from other local cities and attracting NEW businesses to the area.  And they are doing it all without a major sports franchise! One word to sum up the City of North Las Vegas is EXCITING.

All three cities presented optimistic, aggressive outlooks for 2018 and beyond. Each addressed opportunities for growth in different areas and offered a growth friendly environment for new businesses and expanding existing businesses. In closing, the full quote from the beginning sounds a little foreboding but “It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of light, it was the season of darkness, it was the spring of hope, it was the winter of despair.”* Only one city had fireworks.

* A Tale of Two Cities, Charles Dickens (1859).

 

Curt Carlson, AIA, NCARB, LEED AP  |  Principal
SH Architecture
direct 702.341.2230 | ccarlson@sh-architecture.com
www.sh-architecture.com

 

 

Dear Fellow Members:

Welcome to 2018! I am excited for the opportunity to lead our great NAIOP chapter this year and look forward to working with so many amazing people within our organization, many who are great friends and colleagues that I have known for decades. It is an exciting time to be in commercial real estate in Southern Nevada!

Our industry has great momentum headed into 2018. Las Vegas stands to benefit from more than $10 billion in the development pipeline currently and we project this number to grow higher this year. The Raiders stadium, the Las Vegas Convention Center expansion and a number of new resort developments will fuel our economy and provide confidence to expand throughout our industry. This time around, however, the irrational exuberance seems to be kept in check by responsible lending and adherence to realistic measures of market demand.

NAIOP Southern Nevada continues to shape the commercial real estate industry while protecting our members’ companies and commercial property interests as a watchdog. Collectively, the NAIOP voice advocates positions and policies that benefit our local economy and improve the business climate and quality of life in our community. As we look forward, NAIOP will continue advancing our mission of responsible, sustainable development, creating jobs and benefiting the Southern Nevada economy.

As we embark on a new year, I’d like to acknowledge some people who have contributed to our organization’s success this past year, helping to set the stage for me to take the helm.

First and foremost, my thanks to Jay Heller for his unwavering commitment and leadership of our chapter in 2017. Under Jay’s presidential leadership, his accomplishments have provided our chapter with positive and lasting benefits. Thank you Jay for your service!

As we move into 2018, please welcome our new Board members: Reed Gottesman, Matt Hoyt and David Strickland. Returning Board members include Jay Heller, Jeff LaPour, Jennifer Levine, Rod Martin, Mike Shohet, Julie Cleaver, Shawn Danoski, George Garcia, Adam Malan, Jennifer Turchin and Jody Walker Belsick.

A special thank you is also due to NAIOP’s outgoing board members: John Restrepo, Brendan Egan, and Jeff Foster. They were terrific Board members and their contributions to our chapter will be evident for years to come.

I also look forward to working with our 2018 Committee Chairs: Sabrina Borghoff, Brett Bottenberg, Curt Carlson, George Garcia, Courtney Murphy Goffstein, Brendan Graves, Jay Heller, Matt Hoyt, Hayim Mizrachi, Steve Neiger, Mike Shohet, David Strickland, Chris Teachman and Zac Zaher.

As we begin the new year under a brand new tax code, we anticipate benefits accruing to the Southern Nevada market. Demand for no-tax states like ours should help attract new companies and residents to our community. An increase in corporate profits may help industries and companies that choose to expand their businesses in Southern Nevada, while at the same time choose to hold more conferences and send additional people to conventions held here. Responsible growth in population, company profits, and visitors’ volume bodes well for the commercial real estate industry in Southern Nevada.

I am particularly excited about our Government Affairs committee this year. Under the leadership of Mike Shohet, George Garcia and Jay Heller, we can expect excellent representation on proposed policies, laws and ordinances at both the local and state levels. At the state level, the team will be following potential bill drafts for next year’s session. We will pay attention to any legislation impacting our industry and plan to take a proactive role in crafting new legislation. We also intend to work in cooperation with our Northern Nevada Chapter on State issues impacting our industry. At the local level, we will focus on the Planning, Building and Public Works departments to identify issues of concern to our membership. The firm of Greenberg Traurig continues to be an outstanding strategic partner in all our Government Affairs efforts.

As the voice for the commercial real estate industry, we expect to follow a number of important issues this year. A few items we are tracking include the study of business license fees, zoning application process efficiency, key tax reforms, public transportation enhancements and workforce education. We are also keeping abreast of the Bureau of Land Management’s resource management plan to ensure it incorporates NAIOP’s concern of maintaining an adequate supply of developable land in Southern Nevada to remain competitive with other markets and continue to grow and diversify the Southern Nevada economy with a balanced and managed approach.

In 2017, the UNLV Lee Business School welcomed Vivek Sah, PhD, as the new Director for the LIED Institute for Real Estate Studies. It has been a pleasure to get to know Dr. Sah over the past year and I am very encouraged by his vision for LIED Institute. I believe he will see much success in growing the real estate program at UNLV. NAIOP looks forward to working more closely with Dr. Sah and the UNLV students, to strengthen our relationship with UNLV and to help expose this great industry to the next generation.

Last year we renamed our UNLV scholarship fund to the “NAIOP Tim Snow Memorial UNLV Scholarship” in memory of our colleague who passed away in September 2016.  This year, we will further support the LIED Institute with a NAIOP Scholarship Fund created to provide financial support for a student who is a Real Estate major or minor in the Lee Business School at UNLV.

The 2018 Spotlight Awards is on Saturday, February 24th. The Merit Award Winners and Nominees have been announced. You won’t want to miss this signature event with Masquerade cocktail/evening attire encouraged. Click here for event details, registration and invitation.  Buy your tables today!

Finally, I’d like to thank our 2018 President’s Circle Sponsors and Platinum Sponsor, Cox Communications. If you would like more information or are considering or exploring the benefits of our Annual Sponsorship, please contact me or click here to see the sponsorship package.

Wishing you a very happy, healthy and prosperous 2018.

 

 

Mike Mixer
Chapter President
NAIOP Southern Nevada

 

The 2018 Forecast event was very successful with over 350 registered to attend.  The program and keynote presentation are provided below.

Name: David Jewkes
Title: Managing Director, Brokerage Operations
Company: Avison Young
# of years in the industry: 25+

1.    I am an NAIOP member because:
For a quality connection with other industry professionals and some quality programs.

2.    One success story due to NAIOP Membership:
I believe part of our success is the relationships that have been developed within the industry through our team’s various involvement in NAIOP, not only as in being members but along with the networking opportunities with the lunches and other activities that are schedule throughout the year.

3.    Name one thing that people do NOT know about you:
My first career was in musical theater; acting and singing.  I sang throughout my college years and attended the School of Performing Arts in New York for a summer.

4.    What is your favorite hobby?
I enjoy golfing and spending time with my family.  My wife and I are avid concert goers, we have seen all our favorite musicians at one time or another.  The only sports I enjoy watching are the Dodgers and BYU Cougars.

The Developing Leaders Institute, DLI held its third class on December 11th.  The Market Analysis & Application class focused on how to analyze a market—its product, relative location, supply and demand—and how those factors affect the viability of a potential project or real estate transaction. John Restrepo, Principal of RCG Economics started off the class by detailing the analysis process relative to the three basic scenarios that come into play: a site in search of a use, a use in search of a site, and looking at real estate as an investment opportunity.

While Mr. Restrepo helped the class to understand the macro-economic trends that can affect a particular market, Dan Doherty, Executive Vice President and Industrial Broker at Colliers International, focused on the micro-economic factors that brokers deal with on a daily basis.

Both Mr. Restrepo and Mr. Doherty are experts in their fields and used multiple real-life examples to illustrate the advantages of fully understanding your market.

Thomas & Mack Development Group sponsored December’s class and was represented by David Strickland.

DLI Class Member
Samantha Coronado, Commercial Sales Executive
First American Title Insurance Company
Mobile: 702.420.9253 | Office: 702.251.5175 | scoronado@firstam.com

The 21st Annual Bella Notte Spotlight Awards are just around the corner, February 24, 2018 at the Green Valley Ranch Resort and Casino. The deadline for project and industry submittals is January 10, 2018 by 5:00pm. Sponsorship opportunities are selling quickly, so act fast!  CLICK HERE for event details, sponsorships and registration form.