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
Colliers Reno
Industry FocusCommercial Brokers
Two years into the pandemic, the commercial real estate (CRE) industry has undergone several changes and leaders in the field are learning that flexibility is key. Although, each submarket was affected differently by COVID the outlook from leaders is positive. Recently, executives representing CRE in Nevada met virtually in a roundtable, sponsored by City National Bank, to … [Read more...] about Industry Focus
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 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: 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
Industry FocusBrokers
As Nevada businesses work to adjust to a rapidly changed world, executives in commercial brokerage see a multitude of changes to their industry. From tenant and landlord to bankers, brokers are involved in nearly every aspect of the commercial real estate industry and are working to advise their clients moving forward in a post-COVID world. Recently, brokerage executives … [Read more...] about Industry Focus
Commercial RE ReportOffice Summary: Third Quarter 2019
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
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
Office Summary: First Quarter 2018
Northern Nevada By Colliers Reno The Reno office market continues to be active and thriving. However, as new deals are finalized they are leaving offices vacant resulting in stagnant statistics. The first quarter of 2018 posted negative 13,792 square feet of net absorption. The Downtown submarket started the year off with 15,215 square feet of positive absorption and the … [Read more...] about Office Summary: First Quarter 2018
Office Summary: Fourth Quarter 2017
Northern Nevada By Colliers Reno The Reno office market finished 2017 strong with 61,734 square feet of positive net absorption year-to-date, despite the slight decrease in the fourth quarter with negative 17,608 square feet. The South Meadows submarket finished the year with positive 47,549 square feet of absorption, making it the top submarket in the area. In terms of … [Read more...] about Office Summary: Fourth Quarter 2017
Business on the Move: Office Market in Nevada
As election jitters continue to dominate the news cycle, the status of the national economy appears to be just so-so in the minds of many business leaders. With only 38,000 jobs added in May, according to the latest U.S. Department of Labor statistics, the overall national employment situation is not as strong as most people would like. Having survived the steep highs and lows … [Read more...] about Business on the Move: Office Market in Nevada
An Industry Revived: Commercial Real Estate in Nevada
Nevada’s commercial real estate market has hit bottom and is recovering, albeit gradually and with some sectors stronger than others, experts said. Due to a confidence that the market is on the upswing, investors and tenants are willing to buy and lease. In fact, brokers completed some sizable deals in 2013, including the sale to Genting Berhad, a Southeast Asia casino … [Read more...] about An Industry Revived: Commercial Real Estate in Nevada