Seasonal Businesses Help Full-time Stores

LAS VEGAS -- Seasonal brick-and-mortar stores are hiring temporary help and filling empty commercial space at the same time.

From the Halloween superstores to those selling Christmas decorations, seasonal businesses are also helping to lower real estate vacancies in the Las Vegas valley.

Many small business are taking chances, leasing commercial space at a faster rate than seen in the past five years in the valley.

"If you are looking to find a space, it's a pretty good time to do so," said Mike Montadon of Voit Real Estate Services.

Montandon, who worked in construction management and also served as North Las Vegas mayor, said in his experience, with fewer new buildings being built and more affordable leasing deals being offered, real estate vacancies will drop.

"Nobody is building anything, so it doesn't take much growth to get it to come back," he said.

The Las Vegas retail vacancy rate has fallen from about 15 to 10 percent and seasonal businesses help by leasing space for a short time, but an expert said that can have a long-term impact on the bottom line.

"Every job that's created gets everybody a little more excited and helps to add more buying power to another person down the line," said Kit Gaski of Voit Real Estate Services. "That adds another shopping tenant."

Bakery owner Sonja McDonald said she hopes to see more tenants and the leasing signs in her shopping center removed as more people take chances on their dreams and the Las Vegas economy.

"It's better to have tried it than not to do it at all," she said.

The national retail vacancy rate is about 7 percent.

Experts said cities that are filling up the most storefronts are those with above average job creation, which is something Las Vegas lacks.


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