Northern Nevada By Jordan Lehman, Colliers | RENO Reno’s office market began 2022 with incredible momentum. The region saw robust investment activity, sizeable rent growth and shrinking vacancy. Office sales volume of $76.1 million was the highest first-quarter total on record. Pricing continued to climb this quarter as average sales price grew 65.9 percent year-over-year … [Read more...] about Commercial RE Report
Commercial RE Report
Commercial RE Report: Industrial SummaryFirst Quarter 2022
Northern Nevada By Angel Orozco & Dan Buhrmann, CBRE The Reno industrial market turned in healthy market fundamentals in Q1 2022, posting the tenth consecutive quarter of positive net absorption. Vacancy decreased quarter-over-quarter, closing Q1 2022 at 0.7 percent, the lowest on record. Availability rates followed suit, dropping to 1.7 percent. Average asking … [Read more...] about Commercial RE Report: Industrial Summary
Commercial RE Report: Retail SummaryFourth Quarter 2021
Northern Nevada By Gary Tremaine & Amanda Brierton | Dickson Commercial Retail had its strongest quarter of the year for sales with just over $188 million and 25 total sales in Q4. There were multiple shopping centers and larger multi-tenant sales that took place before year end. In west Reno, CAI Investments purchased the Cabela’s in Verdi for $39 million ($305.27 … [Read more...] about Commercial RE Report: Retail Summary
Commercial RE ReportOffice Summary Fourth Quarter 2021
Northern Nevada By Jordan Lehamn, Colliers | Reno Northern Nevada’s office market fundamentals displayed their strength in 2021 with declining vacancy rates, steady rent growth, and robust demand. Though many U.S. office markets experienced occupancy losses in 2021, the Reno/Sparks region saw a flurry of leasing activity as annual net absorption remained positive … [Read more...] about Commercial RE Report
Commercial RE Report: Industrial SummaryQ4 2021
Northern Nevada By Angel Orozco and Garrett Shutt, CBRE The Reno Industrial market has experienced exponential growth throughout 2021. The region has consistently been a target for large corporate manufacturing and distribution sites, but the pandemic has sky rocketed demand with no signs of stopping. The lack of Class A and B product in the market, led to a rise in … [Read more...] about Commercial RE Report: Industrial Summary
Commercial RE Report Retail SummaryThird Quarter 2021
Northern Nevada By Gary Tremaine & Amanda Brierton, Dickson Commercial Retail had another strong quarter with Q3 total sales being $28.32 million and 10 total sales. The average price per square foot in the third quarter was $200. The first neighborhood center traded hands in the third quarter of 2021. The market has limited inventory and single tenant net leased … [Read more...] about Commercial RE Report Retail Summary
Commercial RE Report Office Summary:Third Quarter 2021
Northern Nevada By Colliers Reno Reno’s office market saw increased leasing activity in the third quarter of 2021 with nearly 40,000 square feet of positive net absorption, the highest the market has experienced in five quarters. Recovering demand for office space has driven year-to-date net absorption to 58,565 square feet. Strong tenant demand this quarter pushed market … [Read more...] about Commercial RE Report Office Summary:
Commercial RE Report: Industrial SummaryThird Quarter 2021
Northern Nevada By CBRE | Reno The northern Nevada industrial market continued to post strong market fundamentals in Q3 2021. Net absorption for the quarter reached 1 million SF, representing the ninth quarter in a row where net absorption totaled more than positive 800,000 SF. The market wide vacancy rate continues to plummet, ending Q3 2021 at 2.1 percent, down 120 … [Read more...] about Commercial RE Report: Industrial Summary
Commercial RE Report: Retail SummarySecond Quarter 2021
Northern Nevada By Dickson Commercial Group Retail had another strong quarter with Q2 total sales at nearly $48 million over 23 total sales. The average price per square foot in the first quarter was $356.76 with two sales over $1,000 per square foot. No neighborhood centers have traded hands in the first two quarters of 2021. The market has limited inventory and … [Read more...] about Commercial RE Report: Retail Summary
Commercial RE Report: Office SummarySecond Quarter 2021
Northern Nevada By Colliers | Reno Reno’s office market activity has remained strong through the first half of 2021. The region has not seen the influx of sublease office space and rising vacancies that have burdened other markets in the past fifteen months. Office vacancy increased slightly this quarter to 12.6 percent, though it remains equal to the pre-COVID rate of … [Read more...] about Commercial RE Report: Office Summary
Commercial RE Report: Industrial SummarySecond Quarter 2021
Northern Nevada By CBRE Reno The northern Nevada industrial market turned in healthy market fundamentals in Q2 2021, posting the seventh quarter in a row of positive net absorption. Net absorption for the quarter totaled 1.1 million square feet while gross absorption finished at 1.7 million square feet which helped push the market wide vacancy rate down 50 basis points … [Read more...] about Commercial RE Report: Industrial Summary
Commercial RE Report: Retail SummaryFirst Quarter 2021
Northern Nevada By Dickson Commercial Group Retail had a strong start to the year in Q1 with $40,203,740 in total sales volume and 19 total sales. The average price per square foot in the first quarter was $347.20 with two sales over $1,000 per square foot. No neighborhood centers traded hands in the first quarter. The market has limited inventory and single … [Read more...] about Commercial RE Report: Retail Summary
Commercial RE ReportOffice Summary: First Quarter 2021
Northern Nevada By Colliers | Reno Reno’s office market has continued to show its resilience one year into a once-in-a-century pandemic. Reno’s office demand has stabilized in the first quarter of 2021 and vacancy has only slightly ticked up over the last year. Office vacancy saw a 20-basis point decrease since the previous quarter, from 13.6 percent at the end of 2020 to … [Read more...] about Commercial RE Report
Commercial RE ReportIndustrial Summary First Quarter 2021
Northern Nevada By CBRE Reno The northern Nevada industrial market continued to build off its momentum from the previous year by posting strong market fundamentals again in Q1 2021. Gross absorption for the quarter reached 1.9 million square feet (SF). Net absorption was also robust, posting a positive 1.3 million SF. Low vacancy rates have allowed for sizable increases … [Read more...] about Commercial RE Report
Commercial RE ReportRetail Summary: Fourth Quarter 2020
Northern Nevada By Dickson Commercial Group Retail had its best quarter of the year in the fourth quarter of 2020 with $84.05 million in total sales volume and 19 total sales. For comparison, the total volume in Q3 was $10.3 million and the total volume in Q2 was $9.6 million. The average price per square foot in the fourth quarter was the lowest average this year at … [Read more...] about Commercial RE Report