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
Las Vegas commercial real estate
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
NAIOP Southern Nevada2023 Bus Tour
Start Your Engines NAIOP Southern Nevada’s Bus Tour Committee is proud to present the 2023 “Race For Space” Bus Tour. These past few years have certainly sped by! Despite the fact that there is a bit of uncertainty in the debt markets, Las Vegas has seen record levels of demand in all asset classes, and it doesn’t seem like investors, tenants, or developers are letting off … [Read more...] about NAIOP Southern Nevada
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
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 ReportIndustrial Summary Second Quarter 2023
Northern Nevada By Angel Orozco, CBRE The Reno industrial market is comprised of 108.3 million square feet (SF). The market has substantially grown over the last five years, adding over 20.5 million SF of new inventory. The construction pipeline remains plentiful, with a variety of projects totaling over 5.8 million SF currently underway and 13.9 million SF in various … [Read more...] about Commercial RE Report
Commercial RE ReportRetail Summary First Quarter 2023
Northern Nevada By Gary Tremaine, Dickson Commercial Group The first quarter of the year saw a significant increase in volume over Q4 2022, but most of the volume increase was due to the sale of the Summit Mall, acquired by Rhino Properties in South Meadows. There was a decrease in sales in Q1 2023 compared to Q4 2022, but a decent increase in sales volume and average … [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 ReportIndustrial Summary First Quarter 2023
Northern Nevada By Angel Orozco, CBRE The Reno Industrial market finished Q1 2023 with strong market fundamentals, posting the 14th consecutive quarter of positive net absorption. Reno continues to be one of the most active development markets in the country due favorable tax haven and proximity to all Californian markets. Market-wide vacancy and availability rose … [Read more...] about Commercial RE Report
Commercial RE ReportRetail Summary Fourth Quarter 2022
Northern Nevada By Gary Tremaine, Dickson Commercial Group The fourth quarter sales volume for Q4 2022 saw a slight increase in comparison to the prior quarter, with an increase of nearly $8 million, but the year ended up with much lower transaction volume in 2022. There was a decrease in both volume and number of sales in 2022, but a slight increase in the average price … [Read more...] about Commercial RE Report
Commercial RE ReportOffice Summary Fourth Quarter 2022
Northern Nevada By Jordan Lehman, Colliers | Reno Reno’s office market saw continued positive net absorption, decreased investment sales and an uptick in sublease availability in the fourth quarter of 2022. Fourth quarter net absorption of nearly 32,000 square feet pushed annual net absorption to almost 129,000 square feet. Though the region has tallied six consecutive … [Read more...] about Commercial RE Report