Northern Nevada By Colliers | Reno The third quarter of 2019 was one of the strongest quarters for office space in recent history. A healthy 130,000 square feet of net absorption was recorded, with many large leases in the Downtown and Meadowood Submarkets. Vacancy decreased to 10.5 percent. Current office stats were strong enough to support new construction, which … [Read more...] about Commercial RE Report
Commercial RE Report
Commercial RE ReportIndustrial Summary: Third Quarter 2019
Northern Nevada By CBRE Reno Industrial market fundamentals remained solid during Q3 2019 as the vacancy rate remained under 6 percent for the 15th consecutive quarter. Tight market conditions have fueled speculative development in 2019 as construction activity reached its highest level since 2015, with 4.0 million sq. ft. under construction. Most of the current projects … [Read more...] about Commercial RE Report
Commercial RE ReportRetail Summary: Second Quarter 2019
Northern Nevada By Dickson Commercial Group After a slow start to the year, retail sales had a much-needed pickup in the second quarter of 2019. Q2 was the best quarter in the past year with respect to volume and had almost $55 million in transactions with an average price per square foot of $261. One of the most notable sale transactions was Cabela’s, which sold for … [Read more...] about Commercial RE Report
Commercial RE ReportOffice Summary Second Quarter 2019
Northern Nevada By Colliers | Reno The second quarter of 2019 turned the tide of the last few quarters of negative net absorption in northern Nevada. The region registered a positive 70,949 square feet of positive absorption which pushed vacancy down to 11.7 percent this quarter, down from 12.3 percent last quarter. Despite positive absorption and a decrease in vacancy, … [Read more...] about Commercial RE Report
Commercial RE ReportIndustrial Summary Second Quarter 2019
Northern Nevada By CBRE Reno During the first half of the year, the Northern Nevada industrial market laid a strong foundation for a successful second half of 2019. Robust transactional activity coupled with healthy construction activity were at the forefront of the market’s success. Construction completions totaled 1.1 million square feet during the quarter, driving the … [Read more...] about Commercial RE Report
Commercial RE ReportRetail Summary: First Quater 2019
Northern Nevada By Dickson Commercial Group The first quarter of 2019 had many smaller retail lease deals, with the majority under 11,000 square feet. Village at Rancharrah, Tolles Development Company’s new development, has signed on nine tenants so far. Süp, Centro Due and Coffeebar are a few of the restaurants that have joined the project. Clothing retailers, Chez Vous … [Read more...] about Commercial RE Report
Commercial RE ReportOffice Summary First Quarter 2019
Northern Nevada By Colliers | Reno The Northern Nevada office market is starting off a bit bumpy in 2019 with vacancy increasing from 11.8 percent at the end of 2018 to 12.5 percent this quarter. This was due to 78,154 square feet of negative net absorption, continuing the downward trajectory seen in the fourth quarter. Vacancy was as low as 11.0 percent in the third … [Read more...] about Commercial RE Report
Commercial RE ReportIndustrial Summary First Quarter 2019
Northern Nevada By CBRE Reno The Northern Nevada industrial market rebounded in Q1 2019. Twenty-eight lease transactions were signed during the quarter, leading to 880,914 square feet of positive net absorption and 1.1 million square feet of gross absorption. Of these, 24 deals were between 5,000 square feet and 100,000 square feet, demonstrating continued pressure on … [Read more...] about Commercial RE Report
Commercial RE ReportRetail Summary: Fourth Quarter 2018
Northern Nevada By NAI Alliance The overall Northern Nevada economy continues to remain strong through the fourth quarter of 2018. However, there were some small setbacks in the overall and anchor space vacancy rates. The overall vacancy in the Reno/Sparks area increased to 12.33 percent from the previous quarter of 11.90 percent. There was a total gross absorption of … [Read more...] about Commercial RE Report
Commercial RE ReportOffice Summary: Fourth Quarter 2018
Northern Nevada By COLLIERS | RENO While 2018 was a strong year for the Reno office market, the return of large blocks of space ended the year on a negative note with negative net absorption of 79,018 square feet. As a result, vacancy pushed up to 11.8 percent from 11.0 percent in the third quarter. This was, however, lower than year end 2017 where it ended at 12.1 … [Read more...] about Commercial RE Report
Commercial RE ReportIndustrial Summary: Fourth Quarter 2018
Northern Nevada By CBRE Reno When reviewing 2018 and examining overall real estate fundamentals, the Reno industrial market continues to perform well. The region has been running at historically high demand levels for the past six years characterized by consistent demand, disciplined development, strong fundamentals, and increasing rental rates. Illustrating this has been … [Read more...] about Commercial RE Report
Commercial RE ReportRetail Summary: Third Quarter 2018
Northern Nevada By NAI Alliance The Northern Nevada economy continues to improve through the third quarter. The overall vacancy in the Reno/Sparks area decreased to 11.9 percent from the previous quarter of 12.45 percent. There was a total gross absorption of 148,937 square feet during the quarter, with a net absorption of 74,456 square feet. The most notable sale … [Read more...] about Commercial RE Report
Office Summary: Third Quarter 2018
Northern Nevada By Colliers Reno The Northern Nevada market continues to post strong figures with vacancy dropping and increasing positive net absorption for another quarter. The vacancy rate is down to 11 percent from 11.5 percent the prior quarter. Due to large leases in the third quarter, there was 35,382 square feet of positive net absorption. All in all, the Reno … [Read more...] about Office Summary: Third Quarter 2018
Industrial Summary: Third Quarter 2018
Northern Nevada By CBRE Reno The Northern Nevada industrial market ended Q3 2018 much as it began – a competitive, demand-heavy market with active pre-leasing and rising base rents. As a result, the quarter recorded 2.1 million square feet of net absorption and 2.4 million square feet of gross absorption. While the market is attractive to occupiers of varying sizes and … [Read more...] about Industrial Summary: Third Quarter 2018
Retail Summary: Second Quarter 2018
Northern Nevada By NAI Alliance The overall Northern Nevada economy continues to improve through the second quarter. The overall vacancy in the Reno/Sparks area decreased to 12.45 percent from the previous quarter of 13.12 percent. There was a total gross absorption of 219,414 square feet during the quarter, with a net absorption of 80,792 square feet. The anchor vacancy … [Read more...] about Retail Summary: Second Quarter 2018