Northern Nevada By Reed Backstrom, Colliers | Reno At the close of Q1 2026, Northern Nevada’s office market posted modest improvement across several key indicators, with vacancy declining 20 basis points quarter-over-quarter to 8.8%. Leasing activity totaled nearly 150,500 SF during the quarter, an increase of almost 50% compared to Q4, signaling a pickup in tenant movement … [Read more...] about ReD Report
John Stater
ReD ReportOffice Summary: Fourth Quarter 2025
Northern Nevada By Reed Backstrom, Colliers | Reno Reno’s office market closed Q4 2025 showing impressive steadiness, with vacancy holding at 9.0% and staying essentially level with where it stood a year earlier. Even though net absorption dipped slightly this quarter, the market still posted positive gains for the year, reinforcing its resilience compared to many other … [Read more...] about ReD Report
ReD ReportOffice Summary: Third Quarter 2025
Northern Nevada By Reed Backstrom, Colliers Reno Northern Nevada’s office market tightened further in the third quarter, reaching a vacancy rate of 8.7 percent, the lowest level seen in 20 years. This milestone reflects steady absorption and limited new supply, even as economic uncertainty continues to shape tenant decisions. Leasing activity totaled 172,458 square feet, … [Read more...] about ReD Report
ReD ReportOffice Summary: Second Quarter 2025
Northern Nevada By Reed Backstrom, Colliers Reno Despite a slight decline into negative absorption in the first quarter, Reno's office market demonstrated a modest recovery in the second quarter, indicating signs of stabilization and a return to positive demand. Submarkets with a larger inventory of Class A properties continued to experience growth in rents and an increase … [Read more...] about ReD Report
ReD ReportOffice Summary: First Quarter 2025
Northern Nevada By Reed Backstrom, Colliers Reno Northern Nevada’s office market entered 2025 with signs of resilience, amid ongoing headwinds. A promising highlight is the continued strength of Class A office demand, which remains despite broader economic uncertainty. The Meadowood submarket led the region with a 0.4 percent rent increase to $2.13/SF, the highest in … [Read more...] about 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 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
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 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
Commercial RE ReportOffice Summary Second Quarter 2023
Northern Nevada By Jordan Lehman, Colliers | Reno Reno’s office market experienced a mix of market fundamentals performance this quarter as it saw a notable decline in available sublease space and a continued slowdown in investment activity. For the first time since mid-2021, the total amount of available sublease space fell during the quarter. No longer more than … [Read more...] about Commercial RE Report
Commercial RE ReportOffice Summary First Quarter 2023
Northern Nevada By Jordan Lehman, Colliers | Reno Northern Nevada’s commercial real estate market experienced a shift in Q1 2023 with softening tenant demand, an uptick in sublease availability and a decline in investment sales. The region has seen continued growth in available sublease office space as tenants have added more square footage to the sublet market. Available … [Read more...] about Commercial RE Report
Commercial RE ReportOffice Summary: Third Quarter 2022
Northern Nevada By Jordan Lehman, Colliers | Reno Northern Nevada’s office market saw strong tenant demand, recovering sale volumes and swelling sublease availability in Q3 2022. After five consecutive quarters of positive demand, third quarter net absorption of 54,700 square feet pushed annual net absorption to nearly 100,000 square feet. Investment activity rebounded … [Read more...] about Commercial RE Report
Commercial RE ReportOffice Summary: Second Quarter 2022
Northern Nevada By Jordan Lehman, Colliers | Reno Northern Nevada’s office market experienced healthy leasing activity, cooling sales volume, and an increase in sublease space in the second quarter of 2022. Continued tenant demand pushed net absorption to nearly 17,000 square feet, the fourth consecutive quarter of positive demand. While sales activity cooled off this … [Read more...] about Commercial RE Report
Commercial RE ReportOffice Summary: First Quarter 2022
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
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