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Las Vegas Commercial Real Estate In-depth
Las Vegas is the most populous city in the state of Nevada, and an internationally renowned major resort city for gambling, shopping, and entertainment. As the 28th most populous city in the United States, Las Vegas is one of the most populous cities in the American West. As the population continues to expand, Las Vegas commercial r... Read More
Las Vegas Commercial Real Estate In-depth
Las Vegas is the most populous city in the state of Nevada, and an internationally renowned major resort city for gambling, shopping, and entertainment. As the 28th most populous city in the United States, Las Vegas is one of the most populous cities in the American West. As the population continues to expand, Las Vegas commercial real estate for lease and Las Vegas commercial real estate for sale will continue to be in great demand.
The primary drivers of the Las Vegas economy have been the convergence of tourism, gaming, and conventions which in turn feed the retail and dining industries. Several companies involved in the manufacture of electronic gaming machines, such as slot machines, are located in the Las Vegas area. In the 2000s retail and dining have become attractions of their own, with this growth commercial real estate in Las Vegas is constantly growing.
Many technology companies have either relocated with commercial real estate in Las Vegas or were created with Las Vegas commercial real estate. For various reasons, the Las Vegas area has had a high concentration of technology companies in electronic gaming and telecommunications industries. Las Vegas commercial real estate provides homes to a variety of technology companies in southern Nevada including Bigelow Aerospace, CommPartners, Datanamics, eVital Communications, Petroglyph, SkywireMedia, Switch Communications, and WorldDoc. Companies that originally were formed with Las Vegas commercial real estate, but have since sold or relocated include Westwood Studios (sold to Electronic Arts), Systems Research & Development (Sold to IBM), Yellowpages.com (Sold to Bellsouth and SBC), and MPower Communications.
Constant population growth means that the need for commercial real estate in Las Vegas will also continue to grow.
Tourism drives the economy in Las Vegas, with 37 million people visiting the city each year. According to the University of Nevada's Center for Business and Economic Research Center, the figure for visitor spending in 2004 was a staggering $33.7 billion. In 2004, 20 percent of all jobs were gaming-related. The gaming and tourism industry in Las Vegas is always growing, making the need for commercial real estate in Las Vegas a necessity.
While the entertainment and service industries are, collectively, the largest employers in Las Vegas, the major single employer is the Clark County School District.
Las Vegas provides incentive programs for new companies looking for commercial real estate in Las Vegas and existing companies looking to relocate or expand their company with Las Vegas commercial real estate. To encourage industrial development, the Las Vegas business community works in cooperation with the state of Nevada to provide various incentives through minimal taxation, vocational training programs, no-cost site location services, special loan plans, and limited liability protection. The city is a foreign trade zone, making it an attractive foreign business destination. Location and tax incentives make commercial real estate in Las Vegas is a great choice. Minimize
Las Vegas Commercial Real Estate Listings By Property Type:
Las Vegas Bio-Tech, Dental, and Medical Space
Las Vegas Industrial/Warehouse Space
Las Vegas Investment
Las Vegas Land
Las Vegas Office Space
Las Vegas Retail Space