EDITOR’S NOTE: Each week in 2021, we will feature snippets of stories that published a decade ago to provide readers a 10-year perspective of business news in the region. This week’s stories first published in the Jan. 17, 2011, edition of the NNBW; the web versions are linked below.
The first decrease in industrial vacancy rates after 18 consecutive months has some commercial real estate brokers eying 2011 with an air of hopeful anticipation, but still, more than 10.8 million square feet of industrial space remains vacant throughout the Truckee Meadows.
Industrial vacancy in the region stood at 15.1 percent in the fourth quarter of 2010, down a few ticks from 15.7 percent in the previous quarter, shows a report by NAI Alliance.
Brokers in the industrial market completed 43 lease transactions totaling nearly 800,000 square feet of space in the fourth quarter. Much of the space being leased is in newer, better-class A warehouse and distribution facilities, which formerly saturated the market and led to lower occupancy and lease rates across all classes.
David Shaddrick, who holds 111 mining claims in Nevada, complains that a new onetime fee on mining claims enacted last year places a large burden on small prospectors and explorers — in his case, more than $15,000. Exploration companies and prospectors such as Shaddrick appear to be voting with their feet, bailing out of about 12 percent of the mining claims that had been filed in the state.
“The biggest impact is on the little guys,” Shaddrick says.
Mining experts say the fee — enacted last year in hopes of generating up to $25.7 million to help close the state’s budget deficit — could result in decreased mining exploration and investment in coming years.
For example, from July through December, the State Division of Minerals says the number of claim filings ran 12.2 percent below year-earlier figures. That’s coming on the heels of a 10.6 percent decline in the number of claims in the fiscal year that ended June 30.
The Reno-based developers of an application that allows businesses to increase their exposure on social media sites such as Facebook say they already have secured customers in more than 58 countries, and they’re seeking additional web developers and customer support staff.
Pancake Labs’ Shortstack platform runs on businesses’ Facebook pages and allows business owners a simple method of adding video, coupons and other promotional services. The fee-based service operates on a sliding scale starting at $5 a month.
President Jim Belosic says Pancake Labs was founded in the third quarter of last year and already has five full-time employees and also employs several subcontractors; it recently expanded into a 2,300-square-feet space at 201 W. Liberty St.