Northern Nevada By Stephen Delgado, CBRE | Reno The market shifted from tight to oversupplied over the past three years. In 2023, net absorption was positive each quarter and vacancy remained low, but by Q1 2024 absorption flipped from 842,000 sq. ft. in Q4 2023 to negative 751,000 sq. ft., lifting vacancy 340 basis points (bps) quarter-over-quarter to 7.6%. The correction … [Read more...] about ReD Report
CBRE Reno
Industrial SummaryFourth Quarter 2025
Northern Nevada By Stephen Delgado, CBRE | RENO The Reno industrial market was comprised of approximately 120 million sq. ft. at the close of Q4 2025. There were four new industrial buildings delivered to the market in Q4 2025, totaling 1.7 million sq. ft. The construction pipeline has halted with nothing underway while 15.8 million sq. ft. sits in various planning stages. … [Read more...] about Industrial Summary
ReD ReportIndustry Summary: Third Quarter 2025
Northern Nevada By Stephen Delgado, CBRE | Reno The Reno industrial market was comprised of approximately 118 million sq. ft. at the close of Q3 2025. There were three new industrial buildings delivered to the market in Q3 2025, totaling 976,480 sq. ft. The construction pipeline has 1.6 million sq. ft. underway with another 15.8 million sq. ft. in various planning stages. … [Read more...] about ReD Report
ReD ReportIndustrial Summary: First Quarter 2025
Northern Nevada By Grant Bollinger, CBRE | Reno The Reno industrial market was comprised of approximately 116 million sq. ft. at the close of Q1 2025. There were three new industrial buildings delivered to the market in Q1 2025, totaling 600,000 sq. ft. The construction pipeline had 1.5 million sq. ft. underway with another 15.9 million sq. ft. in various planning stages. … [Read more...] about ReD Report
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
Commercial RE ReportIndustrial Summary Third Quarter 2022
Northern Nevada By Angel Orozco, CBRE | Reno The Reno Industrial market finished the quarter with strong market fundamentals, posting the twelfth consecutive quarter of positive net absorption. Record low vacancy and availability rates have driven tenants to prelease under construction and planned projects. Average asking lease rates increased 50 percent year-over-year, … [Read more...] about Commercial RE Report
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: 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 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 ReportIndustrial Summary: Fourth Quarter 2020
Northern Nevada By CBRE Reno The northern Nevada industrial market finished off a strong year by recording the largest year-to-date net absorption total since 2016. The fourth quarter of 2020 recorded 1.2 million square feet of positive net absorption, pushing the year-end total to 4.3 million square feet. Overall, the market had strong leasing activity throughout the … [Read more...] about Commercial RE Report
Commercial RE ReportIndustrial Summary: Third Quarter 2020
Northern Nevada By CBRE Reno The northern Nevada industrial market has been resilient in the wake of the COVID-19 pandemic as market fundamentals remained strong in Q3 2020. After impressive net absorption totals in the second quarter, Q3 posted healthy figures with 855,106 square feet of positive net absorption, pushing the year-to-date net absorption total past 3 … [Read more...] about Commercial RE Report
Commercial RE ReportOffice Summary: Second Quarter 2020
Northern Nevada By Colliers Reno Reno/Sparks saw office vacancy decrease in the second quarter of 2020, perhaps defying the expectations of some observers. Office vacancy decreased to 9.4 percent in the second quarter, from 10 percent in the first quarter of 2020. The average asking rate for office space decreased to $1.83 per square foot on a full service gross … [Read more...] about Commercial RE Report
Commercial RE ReportIndustrial Summary: Second Quarter 2020
Northern Nevada By CBRE Reno As the COVID-19 pandemic unfolded in Q2 2020, it delivered a widespread shock to the U.S economy. While it is too early to fully comprehend the long-term impact the pandemic will have, industrial real estate has emerged well positioned to weather the current economic climate. The Reno industrial market finished the quarter strong after an … [Read more...] about Commercial RE Report
Commercial RE ReportIndustrial Summary: First Quarter 2020
Northern Nevada By CBRE Reno Strict stay-at-home orders due to the COVID-19 pandemic are leading the U.S. economy into a recession with a very sharp GDP decline in for Q1 2020. However, the unique nature of this downturn could result in an unusually swift economic recovery that may begin as early as Q3 2020. Prior to the pandemic, the Reno industrial market began to … [Read more...] about Commercial RE Report
Commercial RE ReportIndustrial Summary: Fourth Quarter 2019
Northern Nevada By CBRE Reno The industrial market continues to exhibit robust demand, finishing the year with 2.5 million square feet of net absorption, bringing the year-end total to 3.7 million square feet. This was the seventh consecutive year where occupancy gains exceeded 3.5 million square feet. Overall, tenant demand remained diverse over the course of 2019 … [Read more...] about Commercial RE Report