Northern Nevada By Gary Tremaine, Dickson Commercial Group As the year came to a close, the retail market in Washoe County remained resilient. Transaction volume reached $94,388,853, marking a significant increase from Q3, while retail vacancies remained at historic lows, with the overall vacancy rate edging up to 3.7%. Despite limited supply, demand from owner-users and … [Read more...] about ReD Report
ReD Report
ReD ReportOffice Summary: Fourth Quarter 2024
Northern Nevada By Bob Shanahan, Colliers Reno Reno’s office market closed 2024 with remarkable momentum. The uptick in activity we’ve observed is backed by the data and paints an optimistic outlook for 2025. With the market vacancy rate now below 10%, it is possible we could see a new construction project start in the months ahead to address space constraints for tenants … [Read more...] about ReD Report
ReD ReportIndustrial Summary: Fourth Quarter 2024
Northern Nevada By Angel Orozco, CBRE | Reno The Reno industrial market was comprised of approximately 116 million sq. ft. at the close of Q4 2024. There were six new industrial buildings delivered to the market in Q4 2024, totaling 1.0 million sq. ft. The construction pipeline had 2.1 million sq. ft. underway with another 15.5 million sq. ft. in various planning stages. … [Read more...] about ReD Report
ReD ReportRetail Summary: Third Quarter 2024
Northern Nevada By Gary Tremaine, Dickson Commercial The retail market in Washoe County has remained strong throughout 2024. Although transaction volume reached only $36.7 million, showing a slight decline from Q2, retail vacancies continue at historic lows, with the overall vacancy rate dropping to 3.4 percent. Demand remains high among owner-users and investors despite … [Read more...] about ReD Report
ReD ReportOffice Summary: Third Quarter 2024
Northern Nevada By Bob Shanahan, Colliers Reno The Reno office market turned a corner in the third quarter of 2024. While many office markets across the country struggle with higher vacancies and subdued demand, Reno continues to buck this trend. The State of Nevada’s occupancy of numerous buildings as well as continued demand and takedown of space by other tenants in the … [Read more...] about ReD Report
ReD ReportIndustrial Summary: Third Quarter 2024
Northern Nevada By Angel Orozco, CBRE The Reno industrial market was comprised of approximately 115 million sq. ft. at the close of Q3 2024. There was one space of 40,000 sq. ft. of new product delivered to the market in Q3 2024. The construction pipeline had 1.7 million sq. ft. underway with another 16.5 million sq. ft. in various planning stages. The overall average … [Read more...] about ReD Report
ReD ReportRetail Summary: Second Quarter 2024
Northern Nevada By Gary Tremaine, Dickson Commercial The Washoe County retail market continues to remain strong as it has throughout previous quarters. Reaching $54,824,280 in transaction volume, there was a slight uptick compared to Q1 2024. Retail vacancies maintain historic lows, signifying that there is much demand with lessening supply. Similar to last quarter, … [Read more...] about ReD Report
Office SummarySecond Quarter 2024
Northern Nevada By Bob Shanahan, Colliers | RENO Reno's office market exhibited resilience in Q2 2024 despite its highest occupancy losses since 2020. The vacancy rate increased slightly to 10.9 percent, driven by several vacancies, yet it remained below the five-year average, highlighting the market's stability. The State of Nevada's substantial leasing activity, including … [Read more...] about Office Summary
ReD ReportIndustrial Summary Second Quarter 2024
Northern Nevada By Angel Orozco, CBRE Reno The Reno industrial market was comprised of approximately 115 million sq. ft. at the close of Q2 2024. There was over 180,000 sq. ft. of new product delivered to the market in Q2 2024. The construction pipeline had over 930,000 sq. ft. underway with another 17.3 million sq. ft. in various planning stages. The overall average asking … [Read more...] about ReD Report
ReD ReportRetail Summary: First Quarter 2024
Northern Nevada By Gary Tremaine, DCG The Washoe County retail market remains as strong as it did in previous quarters. While only reaching close to $38 million in transaction volume, retail vacancies remained at historic lows, signifying the sector is still in high demand. As consumer spending continues to increase, retail has become a center of attention for investors in … [Read more...] about ReD Report
ReD ReportOffice Summary: First Quarter 2024
Northern Nevada By Jordan Lehman, Colliers Reno Reno’s office market experienced robust tenant demand, recovering sales activity, and a slight uptick in available sublease space. Net absorption nearly reached 102,000 square feet this quarter, which was the largest total in the last four and a half years. Office sales totaled $38.1 million in the first quarter after a very … [Read more...] about ReD Report
ReD ReportIndustrial Summary First Quarter 2024
Northern Nevada By Angel Orozco, CBRE The Reno industrial market was comprised of approximately 114 million sq. ft. at the close of Q1 2024. There was over 2.7 million sq. ft. of new product delivered to the market in Q1 2024. The construction pipeline had over 960,000 sq. ft. underway with another 17.3 million sq. ft. in various planning stages. The overall average asking … [Read more...] about ReD Report
ReD ReportRetail Summary: Fourth Quarter 2023
Northern Nevada By Gary Tremaine, Dickson Commercial Group The retail market in Washoe County continued to have a strong quarter, with over $93,653,731 in transaction volume. Q4 was highlighted with one large sale of $13,750,000, two sales over $9 million and an average sale price of $3,746,149. There is a continued interest in northern Nevada by both regional and national … [Read more...] about ReD Report
ReD ReportIndustrial Summary: First Quarter 2024
Northern Nevada By Angel Orozco, CBRE The Reno industrial market was comprised of approximately 114 million sq. ft. at the close of Q1 2024. There was over 2.7 million sq. ft. of new product delivered to the market in Q1 2024. The construction pipeline had over 960,000 sq. ft. underway with another 17.3 million sq. ft. in various planning stages. The overall average asking … [Read more...] about ReD Report
ReD ReportOffice Summary: Fourth Quarter Summary 2024
Northern Nevada By Jordan Lehman, Colliers | Reno Reno’s office market saw a blend of market fundamentals in the fourth quarter of 2023 as investment activity rebounded, available sublease space shrunk, and net absorption continued to decline. After a slow start to the year, fourth quarter sales grew to $53.3 million. The sublease market contracted again this quarter as … [Read more...] about ReD Report