WATCH: Local real estate experts discuss COVID-19 impact on industrial market

Local News

LAS VEGAS (KLAS) — Partners at Brass Cap Development, an industrial development firm in Southern Nevada, hosted a virtual meeting Monday to discuss Las Vegas’ industrial real estate outlook and its impact from COVID-19 for 2020 into the 2021 year.

The webinar was free and it was hosted by Western Real Estate Business from 11:30 a.m. to 12:45 p.m. on Monday, Sept. 21.

Brass Cap partners Jason Kuckler and Larry Monkarsh were a part of the webinar panel of fellow industry leaders going over in detail how Las Vegas’ industrial real estate sector has been affected by the pandemic, and how eCommerce has become even more essential now than ever.

Brass Cap Development is a leading industrial development firm that has developed nearly a million square feet of industrial space with another half million in the development pipeline for 2020.

The firm continues to develop multiple projects in high-demand industrial submarkets across the valley including Southwest Las Vegas and West Henderson.

Event Attendees:

  • Larry Monkarsh, Partner at Brass Cap Development and Owner of LM Construction Co., panel moderator
  • Jason Kuckler, Partner at Brass Cap Development, featured panelist
  • Tyler Mattox, MCA Realty
  • Amy Ogden, Logic Commercial Real Estate

In addition to the pandemic impact, industry leaders spoke about investment sales, leasing, and development. The following topics were also brought up:

  • How has the pandemic impacted industrial activity?
  • How are rents and sales prices trending within the market?
  • Will industrial development slow in southern Nevada or remain steady?
  • What types of tenants are looking for space? What features are they looking for?
  • What are the hot submarkets?
  • What trends in industrial development are you seeing in the Las Vegas market?

Panelist say they’re impressed with the resiliency and ingenuity of the small businesses in the Las Vegas valley. The experts also said despite the challenging times — demand is still high for industrial real estate.

“I would like to; quite honestly more development and real estate companies starting up and getting into Las Vegas market to help meet the demand,” said Jason Kuckler of Brass Cap Development.

“We feel good about the future with our product type; kinda the mid may distribution type of space and we are,” said Reed Gottesman- Harsch of Investment Properties.

As for real estate, some areas are doing really well. Those include, North Las Vegas, west Henderson, the airport, and the southwest part of town. New water and sewer lines have already been put down in the Apex area.

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