Las Vegas Insider | January 2020

LAS VEGAS

INSIDER A COMMUNICATION FOR BROKERS, EMPLOYEES, COLLEAGUES AND FRIENDS

JANUARY 2020

// COVER //

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TABLE OF CONTENTS 4

LAS VEGAS REAL ESTATE MARKET ENDS 2019 IN THE BLACK

8

PROMOTIONS

10

FEATURED LISTINGS

12

UPCOMING EVENTS

15

FEATURED DEALS

16

NEW OFFICE UPDATE

18

VEGAS BY THE NUMBERS

20 21

ICEBREAKERS

DIRECTORY

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LAS VEGAS REAL ESTATE MARKET ENDS 2019 IN THE BLACK Colliers International Las Vegas released its 2019 Q4 Las Vegas Market Research Report on Southern Nevada’s commercial real estate market.

The report details current and future projections and trends expected this year.

John Matt Stater

4

Photo by Dave Morgan from Pexels

// JANUARY 2020 //

Southern Nevada had a pretty good 2019, with some

Net absorption in warehouse/distribution properties,

segments of the market doing better than others, but

while remaining positive and healthy, has been

all segments improving. The debate rages on over

decreasing (on an annual basis) since 2017. This

whether a recession is in the cards for 2020.

is certainly no cause to panic but does suggest that supply is beginning to outpace demand. If this

There are definitely signs of slowing economic

continues, vacancy should continue to increase in

growth, but that does not in-and-of-itself portend

2020 and asking rents should continue to decrease,

negative growth in the future. The recent completion

though with the potential for development to

of a new North American trade agreement and

begin shifting towards light distribution and light

progress on a new trade agreement with China could

industrial properties.

bolster economic growth in 2020, but one cannot know the future until it is the past, and sometimes

As multifamily vacancy rates have increased, the

not even then.

pace of new development has slacked. This is a pleasant show of restraint by developers. Rather than

What does seem clear is that Southern Nevada’s

getting swept up in the hype, they are proceeding

hospitality-driven economy made some bold moves

wisely and developing multifamily as it is needed.

in 2019, and should see the fruits of this work in 2020.

The downside to this slower development is a

Las Vegas has added important new entertainment

continuation of rent increases – good for landlords,

venues, and some big hospitality sales in the fourth

but tough on tenants.

quarter of 2019 suggest that at least a few major investors have some faith in the city’s future.

Over the past five years, Class B/C rental rates have increased from $732 per month to $895 per months.

As 2019 wraps up, Southern Nevada can look back

Rent growth in these older properties has thus

on another very successful year for its industrial

outpaced inflation, and this gradual drawdown of

market, though perhaps not as successful as in the

affordable housing could have a deleterious impact

past two years. A powerful wave of demand for

on Southern Nevada’s economic growth in the

warehouse/distribution space hit the United States

future. Executive Managing Director Mike Mixer said,

in 2017, spurred by e-commerce and the desire for

“It looks as though multifamily development will pick

quicker delivery times. It is possible that in 2019 we

up a bit in 2020 and rent growth has been slowing

are seeing signs that that wave is losing power.

over the course of 2019. We think this trend will continue in 2020.”

SOUTHERN NEVADA’S INDUSTRIAL MARKET POSTED 4.8 MILLION SQUARE FEET OF NET ABSORPTION IN 2019, DOWN FROM THE 5.2 MILLION SQUARE FEET OF NET ABSORPTION

Demand for Southern Nevada’s retail market hit a recent high in 2019, with net absorption totaling over 1 million square feet. It is no secret that the growth of e-commerce has been a significant challenge to brick-and-mortar retailers over the past few years.

RECORDED IN 2018, A POSSIBLE SIGN THAT THE INITIAL WAVE OF DEMAND FOR WAREHOUSE/DISTRIBUTION SPACE MAY BE SLOWING DOWN.

Continue on Page 7

”

// COLLIERS INTERNATIONAL LAS VEGAS //

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”

all you need is love

HAPPY VALENTINE’S DAY 6

See you there!

// JANUARY 2020 //

“Big box” retailers have closed numerous locations

its completion might prove that Las Vegas has a

in Southern Nevada, and more than a few pundits

supply problem, rather than a demand problem. If

decided that retail real estate’s best days were

the market does not respond to this addition of new

behind it. Retail performance in 2019 has challenged

office space, though, or the national economy slows

these views, with retail vacancy decreasing in all

down in 2020, Southern Nevada will be left with

submarkets in Southern Nevada, and in most retail

higher vacancy rates at the end of 2020.

types. It is possible that retailers have adapted to the new retail environment created by e-commerce,

After a bout with negative net absorption in the

enabling them to expand once again.

second quarter of 2019, Southern Nevada’s medical office market has enjoyed two quarters of positive

Land sales prices increased to their highest level

net absorption. Unfortunately, it is also experiencing

in years in 2019, producing a high dollar volume

a larger trend of weaker demand since hitting a high

of sales, but cutting the total acreage sold from

in 2017. Job growth and taxable sales on health care

last year’s high. Higher prices for commercial and

have seen a similar draw-down, which probably

residential-zoned land meant that buyers paid more

explains real estate’s woes. We expect a similar

to get less. That state of affairs will ultimately result

performance in 2020, with demand either rising or

in higher asking rents and prices for the buildings

falling slightly, but remaining positive.

constructed on that land, or landowners defaulting on land they purchased at too high a price.

2019 had a healthy tourism industry and was a major year for hospitality sales. Southern Nevada

Southern Nevada continues to add new citizens, so

is well-positioned to hit new heights in 2020, with

demand for residential land remains strong. Large

major new entertainment venues opening and new

tracts of industrial land at Apex create the illusion of

hospitality units on the way. The hospitality sales

low prices for industrial land generally, but outside

that occurred in the fourth quarter of 2019 are a clear

of Apex industrial land prices are going up as well.

sign that investors believe that Southern Nevada’s

Higher land prices may result in shortages of land

hospitality industry is on the right track and poised

in the hands of developers later, or a difficulty in

for future success.

attracting new residents and businesses in the future due to higher real estate costs.

Research & Forecast Repo rt

ort

t Rep

While the rapid increase in available sub-lease space in Southern Nevada and the lackluster job growth in sectors associated with office space is worrying, the valley’s office market performed well overall in 2019. Vacancy continued to decrease, and asking rates are now on the rise. Net absorption was weaker in 2019 than 2018, but still positive.

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rc Resea 19 4 20

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LAS VEGAS

Q4 2019

| ECONOMIC

REVIEW

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onom gas Ec

Las Ve

Vegas in the Bla Silver and Bla ck in 2019, ck in 2020

> Southern Nevada’s

economy grew in 2019 were added year-over-year > Taxable sales improved by $2.3 billion > 17,000 jobs

Nearing the end of 2019, it looks like was a pretty we can safely good year for say that it Southern Nevada some signs ’s economy, of slowing growth. despite Unemployment in the Las Vegas-P aradise MSA October 2019, was 4.0 percent 0.4 points lower in than in October peaked in Souther 2018. Unempl n Nevada at oyment 14 percent region’s previou in January s low unemplo 2011. The yment rate 2019. The was 3.8 percent latest national in March unemployment in November figure was 2019, 0.2 points 3.5 percent lower than national labor in November force particip 2018. The ation rate 2019, a 0.2 was 63.2 percent percent decreas in November e from one year ago.

From October 2018 to October 2019, employm Nevada increase ent in Souther d by 17,000 jobs to 1,039,40 n 2.0 percent 0 jobs. This annual growth. represented After adding employment 35,275 new growth slowed jobs in 2015, down in Souther the average n Nevada. Based number of jobs reported each on is showing month in 2019, 21,223 more this year jobs than in 2018.

Clark County Employment

Commercial Source: The

Year Ago

Occupancy

35.37 MM

2019)

2019)

(Q4 2019)

Center for Business

1,022.4

2019)

YTD (Jan-Oct

YTD (Jan-Sep

Data

2019)

YTD (Jan-Oct

Gaming Revenue Taxable Sales

Economic

(1000s) (Oct

Visitor Volume

& Economic

$8.56 BB $32.49 BB 93.3%

Research, UNLV;

Current 1,039.4 35.55 MM $8.63 BB $34.81 BB 93.7%

Colliers Internation

al

Photo from

In 2020, more than 700,000 square feet of office space is scheduled for completion, with 183,449 square feet of that space already under construction.

Pre-leasing of this space is fairly strong, and thus

DOWNLOAD FULL REPORT

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Congrats!

The Las Vegas office would like to congratulate the following Colliers team members for achieving new titles.

“We Are Proud To Have Each Of These Professionals In Our Colliers Family And We Are Looking Forward To Their Continued Success In 2020.”

- Mike Mixer

Executive Managing Director

Angelina Scarcelli, CPM, CCIM Director of Operations | REMS Angelina has worked with Colliers in Las Vegas for the last seven years and is extremely active in the real estate community. She holds CPM and CCIM designations, and has worked extensively with Institute of Real Estate Management, Commercial Alliance Las Vegas, and CCIM. In 2019, Angelina was named CPM of the year and earned IREM Las Vegas’ Professional Achievement Award. This dedication also helped the Las Vegas REMS office gain recognition as Las Vegas AMO of the Year!

Jennifer Kennedy Senior Portfolio Manager Jennifer Kennedy has been promoted to Senior Portfolio Manager. A dedicated manager, Jennifer was instrumental in securing a large assignment with Invesco and has actively contributed to the continued growth of the Las Vegas portfolio. She is a native to the region and has worked with Colliers for more than 12 years. In her new role, she will provide leadership and guidance in day-to-day management operations and local team.

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// JANUARY 2020 //

Before the Golden Knights played the Los Angeles Kings at T-Mobile Arena on January 9th our team got together for a casual pregame event at Robert Irvine’s Public House at the Tropicana. We invited family, friends and clients to join us for some lite bites and beverages before the big game.

THANK YOU TO ALL WHO JOINED US!

WELCOME

TO COLLIERS INTERNATIONAL

Brianna Maldonado - Front Desk Coordinator Please join us in welcoming Brianna Maldonado to the Colliers Las Vegas office as Front Desk Coordinator. Brianna will be responsible for front desk operations which include: greeting clients, answering phones, facilitating the flow of property inquiries and mail correspondence.

In addition, Brianna will be responsible for the coordination of company meetings and assisting brokers with general administrative tasks.

Brianna is currently attending the College of Southern Nevada majoring in criminal justice and is working towards getting her PhD to become a criminal psychologist.

// COLLIERS INTERNATIONAL LAS VEGAS //

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Photo by Matthias Mullie on Unsplash

FEATURED LISTINGS Photo by Daniil Vnoutchkov on Unsplash

±38.56 Acres on Las Vegas Boulevard Michael Stuart and Mike Mixer, SIOR •

±38.56 acres on the World-Famous Las Vegas Strip

•

Zoning: MD Clark County

•

Bankruptcy Auction: Bid Deadline: April 30, 2020 Auction Date: May 19, 2020

320 East Warm Springs Road Chris Connell and Grant Traub, SIOR •

Grey shell condo office units ranging from ±2,434 to ±6,000 SF

•

Newly Renovated “Retro” designed buildings

•

Asking Price: $748,250 ($250 PSF)

2421 East Gowan Road Sam Newman and Pat Marsh, SIOR

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// JANUARY 2020 //

•

±15,000 SF industrial building

•

Newly renovated

•

Purchase Price: $1,875,000

1550 West Craig Road Stacy Shapiro, CCIM and Alexia Crowley, CCIM •

±2,000 SF—±16,622 SF contiguous grey shell medical office space with private balcony

•

Turn-key TI Allowances for qualified tenants on long-term leases

•

Lease Rate: $1.40 - $1.65/SF NNN

4601 Cheyenne Avenue Chris Lane, CCIM , Jerry Doty, Paul Sweetland, SIOR and Dan Doherty, SIOR •

±21,120 SF - ±63,360 SF available

•

M-1 (Clark County)

•

Lease Rate: $0.52-$0.57/SF NNN

5425 South Valley View Boulevard Brett Rather, Steve Neiger, CCIM and Chris Clifford

JANUARY FEATURED LISTINGS

•

±23,000 SF available for lease

•

Just under 5 football fields (450 yards) away from Allegiant Stadium and located within the stadium district

•

Prime Location for a Brewery/Brewpub

// COLLIERS INTERNATIONAL LAS VEGAS //

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IN THE NEWS

“40 Under 40 Alumni: Brian A. Riffel”

“Las Vegas’ Top 10 Real Estate Deals of 2019”

“HCA Pays $22M for Las Vegas MOB’’

VegasINC December 23

Las Vegas Review-Journal January 4

Commercial Property Executive January 13

READ MORE

READ MORE

FEBRUARY 2020

UPCOMING EVENTS

Mark your

calendar

CREW Luncheon

Monthly Retail Meeting

Monthly Investment Meeting

Noon – Lawrys February 11th

8:30am – Main Conference Room February 18th

9:00am – Main Conference Room February 25th

SIOR Luncheon

Sweets & Treats with REMS

Monthly Office Meeting

11:30am – Maggianos February 12th

2:00pm – Main Conference Room February 18th

9:00am – Main Conference Room February 26th

All You Need is Love and Pizza Party

CCIM Luncheon

Monthly Industrial Meeting

11:30am – Orleans Hotel & Casino February 19th

9:00am – Main Conference Room February 27th

NAIOP Breakfast

Birthday Celebration

7:30am – Orleans Hotel & Casino February 20th

2:30pm – Main Conference Room February 27th

Noon – Colliers Cafe February 14th

Presidents Day Holiday Office Closed February 17th

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READ MORE

// JANUARY 2020 //

2020 SALES AWARD TRIP

YOU MADE THE PLANE DAN DOHERTY, SIOR

TABER THILL, SIOR

MIKE MIXER, SIOR

PATTI DILLON, SIOR

SPENCER PINTER

DAN GLUHAICH

MIKE STUART

STACY SCHEER, CCIM

PAUL SWEETLAND, SIOR

CHRIS CONNELL

CHRIS CLIFFORD

GRANT TRAUB, SIOR

BRIAN RIFFEL, SIOR

SCOT MARKER

CHRIS BENTLEY

STEVEN HAYNES

DAVID GRANT

ALEX STANISIC*

JERRY DOTY CHRIS LANE, CCIM

*These brokers qualified for the plane in December

PAT MARSH, SIOR DEAN WILLMORE, SIOR

FRIDAY, MARCH 13 – TUESDAY, MARCH 17, 2020 MAUNA KEA BEACH RESORT, BIG ISLAND, HAWAII

Photo by Christian Joudrey on Unsplash

// COLLIERS INTERNATIONAL LAS VEGAS //

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FEATURED DEALS JANUARY 2020

Industrial Lease

A lease to AIK Consultants Corporation. The ±46,080 square foot industrial property is located in Sunrise Industrial Park #2 at 3101 North Marion Drive, Suite 107 in Las Vegas. Dan Doherty, SIOR, Paul Sweetland, SIOR, Chris Lane, CCIM and Jerry Doty of Colliers International represented the landlord, ICON PAC Nevada Owner Pool 3 Nevada, LLC.

Land Sale

A sale to State of Nevada Water LLC. The ±1.15 acre land parcel is located at the northeast corner of Sunset Road and Hualapai Way (APN: 163-31-401-005) in Las Vegas. The transaction amount was $2,000,000.00. Joe Bonifatto and Brian Fike of Colliers International represented the seller, Sunset Plaza LLC.

Industrial Sale

A sale to Rick Wood. The ±4,869 square foot industrial property is located at 161 North Gibson Road in Henderson.

The transaction amount was $945,000.00. Brian Riffel, SIOR and Tyler Jones of Colliers International represented the seller, Baltic Avenue LLC.

14

// JANUARY 2020 //

Office Sale

A sale to Bajan Ventures, LLC. The ±5,130 square foot office property is located in Palm Court Business Center at 6871 South Eastern Avenue in Las Vegas. The transaction amount was $1,050,000.00. Suzette LaGrange, CCIM and Kara Walker, CCIM of Colliers International represented the seller, Wey Investments, LLC.

Industrial Lease

A lease to Bellissimo Distribution, LLC. The ±30,000 square foot industrial property is located in Beltway Business Park (Bldg. 7) at 7055 South Decatur Boulevard, Suite 110 in Las Vegas. Spencer Pinter of Colliers International represented the tenant.

Land Sale

A sale to Sierra Holding Company, LLC. The ±3.5 acre land parcel is located at the Southeast corner of East Alexander Road and North 5th Street (APN: 139-11-101-001) in North Las Vegas. The transaction amount was $1,162,515.39. Dan Doherty, SIOR, Paul Sweetland, SIOR, Chris Lane, CCIM and Jerry Doty of Colliers International represented the seller, North Fifth Street Associates Limited Partnership.

JANUARY FEATURED DEALS

// COLLIERS INTERNATIONAL LAS VEGAS //

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OFFICE UPDATE ON TRACK FOR FALL 2020 LEARNING FROM OTHER COLLIERS OFFICES

True Heart of the Home – A central kitchen commons with different types of seating was introduced. It’s multi-purpose, designed to be used throughout the day, and serves as the primary connection point for team gatherings. This is not your typical break room!

WE HEAR YOU

BEST PRACTICES IN OFFICE DESIGN

Expressive design concepts that reflect Colliers unique culture and values

Sit to Stand for All – We introduced height-adjustable workstations for all employees A thoughtful transition from ‘me’ to ‘we’ spaces to foster collaboration and knowledge sharing

A Dynamic, Configurable Conference Room – by providing a conference room with demountable partitions, the team is able to host a variety of events and large team meetings.

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// JANUARY 2020 //

Introduction of new types of spaces to provide variety, balance and choice to ensure you have the ability to work where you work best

MAJOR MILESTONES: • • •

GROUNDBREAKING EVENT TO BE PLANNED FOR FEBRUARY

We are in the process of finalizing the layout of the new office Lease was signed in early November Burke Construction has been named the General Contractor for the project

Our focus group participants were asked to describe their ideal workplace:

Productive

accounted for 14% total responses

OFFICE CLOSE UP

|

Functional

|

Professional

Adaptable and multi-purpose spaces to ensure flexibility for the future

AMENITY SPACE RENDERINGS INDOOR/OUTDOOR SPACE

// COLLIERS INTERNATIONAL LAS VEGAS //

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LAS VEGAS

BY THE NUMBERS DECEMBER 2019

OFFICE

OTHER

Broker Rankings YTD

3%

4%

RETAIL

9%

LAND

8%

DECEMBER PROPERTY TYPES

INDUSTRIAL

76%

Sales vs. Lease Revenue Sales 44%

Lease 56%

49% MONTHLY BUDGET 95% YTD BUDGET 18

// JANUARY 2020 //

1. Dan Doherty

26. Jeff Swinger

2. Mike Stuart

27. Alexia Crowley

3. Mike Mixer

28. Kara Walker

4. Paul Sweetland

29. Suzette Lagrange

5. Spencer Pinter

30. George Connor

6. Dean Willmore

31. Al Twainy

7. Chris Bentley

32. Brian Fike

8. Brian Riffel

33. Tom Naseef

9. Jerry Doty

34. Garry Cuff

10. Chris Lane

35. Tyler Jones

11. David Grant

36. Jennifer Lehr

12. Pat Marsh

37. Andrew Kilduff

13. Taber Thill

38. Sam Newman

14. Patti Dillon

39. Steve Neiger

15. Chris Clifford

40. Brett Rather

16. Grant Traub

41. Jeff Naseef

17. Dan Gluhaich

42. Joe Bonifatto

18. Chris Connell

43. Eric Molfetta

19. Scot Marker

44. Gabe Skerlich

20. Stacy Scheer

45. Rebecca Staniec

21. Steve Haynes

46. Chris Lobello

22. Alex Stanisic

47. Emmeline Bressler

23. Susan Borst

48. Amanda Irving

24. Keith Cubba

49. Patrick Baker

25. Mike Willmore

Photo by Wouter GV on Unsplash

52

Happy Anniversary December 2019 Anniversaries Steve Haynes

2014

5 Years

Congratulations!

BROKER OF THE MONTH

1

SPENCER PINTER EXECUTIVE VICE PRESIDENT, INDUSTRIAL LINKS FOR LIFE FOUNDATION WILL BE DONATING IN SPENCER’S NAME TO:

TOTAL DEALS FOR THE MONTH OF DECEMBER

TOP 10

DECEMBER 2019 SPENCER PINTER DAN DOHERTY JERRY DOTY CHRIS LANE PAUL SWEETLAND CHRIS CLIFFORD PAT MARSH

Inspirational Quote:

“Be always at war with your vices, at peace with your neighbours, and let each new year find you a ‘better man’.”

GRANT TRAUB CHRIS CONNELL DEAN WILLMORE

Benjamin Franklin // COLLIERS INTERNATIONAL LAS VEGAS //

19

Photo by Erik Mclean on Unsplash

// LAS VEGAS INSIDER //

CARYL LOU PAAYAS JUNIOR MARKETING COORDINATOR

ICE BREAKERS

TIDBITS FROM PEOPLE YOU WORK WITH Where would you love to go on holiday?

Peru

Which task or chore is least favorite?

Laundry

Have you gone in to a room and forgotten why?

Most likely

20

// JANUARY 2020 //

GRAPHICS DEPARTMENT Caryl Lou is a Junior Marketing Coordinator working closely with Chris Sutton and Nicole Cauilan on property marketing which includes updating brochures and email campaigns for our brokers.

// REACH OUT TO THE LAS VEGAS OFFICE //

LAS VEGAS PHONE DIRECTORY INDUSTRIAL

LAND

Dan Doherty

+1 702 836 3707

Steven Haynes

+1 702 836 3727

Jerry Doty

+1 702 836 3735

Mike Stuart

+1 702 836 3739

Tyler Jones

+1 702 836 3754

Suzette LaGrange

+1 702 836 3799

Chris Lane

+1 702 836 3728

Pat Marsh

+1 702 836 3741

Sam Newman

+1 702 836 3724

Alyssa Parks

MEDICAL OFFICE Alexia Crowley

+1 702 836 3778

Stacy Shapiro

+1 702 836 3762

VALUATION SERVICES

HOTEL/RESORT

Richard Koldewyn

+1 702 836 3738

Heidi Meidenbauer

+1 702 836 3726

+1 702 836 3755

Evan Ranes

+1 702 836 3749

Spencer Pinter

+1 702 836 3776

Brandon Roper

+1 702 836 3734

Brian Riffel

+1 702 836 3773

Angel Vidal

+1 702 836 3775

Danielle Scarano

+1 702 836 3747

Alexander Stanisic +1 702 836 3742 Paul Sweetland

+1 702 836 3750

Kara Walker

+1 702 836 3705

Dean Willmore

+1 702 836 3763

Mike Willmore

+1 702 836 3748

Lauren Willmore

+1 702 836 3730

OFFICE

Mike Mixer

+1 702 836 3777

INVESTMENT SERVICES Patrick Baker

+1 702 836 3703

Joe Bonifatto

+1 702 836 3729

Brian Fike

+1 702 836 3744

Amanda Irving

+1 702 836 3732

Eric Molfetta

+1 702 836 3756

Gabriel Skerlich Grant Traub

+1 702 836 3708 +1 702 836 3789

PROPERTY MANAGEMENT Erica Aulino

+1 702 836 3745

Valerene Corbin

+1 702 836 3761

Jennifer Kennedy

+1 702 836 3772

Breanna Lara

+1 702 836 3753

Christine Norberg

+1 702 836 3704

Angelina Scarcelli

+1 702 836 3768

GOLF COURSE

Chris Connell

+1 702 836 3709

Patti Dillon

+1 702 836 3790

Keith Cubba

+1 702 836 3733

Andrew Kilduff

+1 702 836 3718

Megan McInerney

+1 702 836 3700

Rebecca Staniec

+1 702 836 3792

MULTI-FAMILY

Taber Thill

+1 702 836 3796

Christopher Bentley

+1 702 836 3779

Shalonda Hughes

+1 702 836 3765

Jeffrey Swinger

+1 702 836 3764

STAFF Nicole Cauilan

RETAIL Chris Clifford

+1 702 836 3746

George Connor

+1 702 836 3786

Dan Gluhaich

+1 702 836 3757

David Grant

+1 702 836 3785

Jennifer Lehr

+1 702 836 3736

Scot Marker

+1 702 836 3782

Steve Neiger

+1 702 836 3760

Brett Rather

+1 702 836 3794

Al Twainy

+1 702 836 3725

+1 702 836 3706

Courtney Goffstein +1 702 836 3710 Sara Johansson

+1 702 836 3771

Gina Jones

+1 702 836 3783

Brianna Maldonado

+1 702 836 3701

Caryl Lou Paayas

+1 702 836 3702

Matt Stater

+1 702 836 3781

Chris Sutton

+1 702 836 3721

RECEIVERSHIP Christopher LoBello +1 702 836 3714

// COLLIERS INTERNATIONAL LAS VEGAS //

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JANUARY 2020

LAS VEGAS

INSIDER A COMMUNICATION FOR BROKERS, EMPLOYEES, COLLEAGUES AND FRIENDS

About Colliers International Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management.

Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.