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
Bob Shanahan
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 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