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
Reno commercial real estate
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 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
Industry FocusBrokers
There are plenty of unknowns when it comes to the future of commercial real estate in Nevada. From fluctuating interest rates, to ever changing markets, brokers are focused on staying on top of the shifting sand. Recently, a group of brokers met at a roundtable sponsored by City National Bank and held in Las Vegas to discuss the status of commercial real estate in Nevada and … [Read more...] about Industry Focus
MultifamilyCommercial Real Estate
Multifamily dwellings can be found in high numbers throughout every major city in America and Nevada is no exception to this rule. Choosing to rent a home instead of purchasing a home can result from a variety of different circumstances. These reasons can be income driven, lifestyle preference or it could simply be a timing issue where an apartment is quicker to settle into for … [Read more...] about Multifamily
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 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
Industrial SummaryFourth Quarter 2023
Northern Nevada By Angel Orozco, CBRE The Reno industrial market was comprised of approximately 112 million SF at the close of Q4 2023. The market substantially grew in 2023, adding over 7.3 million SF of new inventory across 25 buildings. The construction pipeline remained plentiful, with a variety of projects totaling over 2.5 million SF underway and 16.1 million SF in … [Read more...] about Industrial Summary
ReD ReportRetail Summary: Third Quarter 2023
Northern Nevada By Gary Tremaine, Dickson Commercial Group The retail market in northern Nevada has encountered ongoing obstacles in terms of development, such as elevated construction expenses and the imperative to address escalating inflation. Nevertheless, there are several new projects advancing. Both regional and national tenants have shown sustained interest in our … [Read more...] about ReD Report
Office SummaryThird Quarter 2023
Northern Nevada By Jordan Lehman, Colliers | Reno Northern Nevada’s office market experienced some positive market fundamentals this quarter as it saw declining net absorption, shrinking sublease availability, and improving investment activity. Quarterly net absorption of - 5,474 square feet pulled annual net absorption to about 1,800 square feet. Available sublease space … [Read more...] about Office Summary
Retail ReinventedThe Changing Face of Commercial Real Estate
Retail is a world that constantly reinvents itself to appeal to newer generations, the latest trends or a fluctuating economy. Today the retail world is completely different than it was at the turn of the century, and that retail was different than the one that came twenty years prior. The last decade has seen consumers begin to climb out of a recession only to be thrust into a … [Read more...] about Retail Reinvented
ReD ReportIndustrial Summary: Third Quarter 2023
Northern Nevada By Angel Orozco, CBRE The Reno industrial market was comprised of approximately 111 million sq. ft. at the close of Q3 2023. The market has substantially grown this year, adding over 6.44 million sq. ft. of new inventory. The construction pipeline remains plentiful, with a variety of projects totaling over 2.8 million sq. ft. currently underway and 16.1 … [Read more...] about ReD Report
ReD ReportRetail Summary: Second Quarter 2023
Northern Nevada By Gary Tremaine & Patrick Sheehan, Dickson Commercial During the second quarter of 2023, retail investment continued at a relatively slow pace. Despite the ever changing capital markets, there was a number of single-tenant investment transactions in Q2, highlighted by the sale of a single-tenant, O’Reilly's Auto Parts property in Sun Valley, at a 5 … [Read more...] about ReD Report