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
Angel Orozco
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 ReportIndustrial Summary: Fourth Quarter 2022
Northern Nevada By Angel Orozco, CBRE The Reno industrial market finished the quarter with strong market fundamentals, posting the thirteenth consecutive quarter of positive net absorption. The East Valley submarket remains the most sought out location in Reno for occupiers, posting 714,750 square feet (SF) of positive net absorption for the quarter. Average asking lease … [Read more...] about Commercial RE 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 ReportIndustrial Summary: First Quarter 2022
Northern Nevada By Angel Orozco & Dan Buhrmann, CBRE The Reno industrial market finished the quarter with strong market fundamentals, posting the eleventh consecutive quarter of positive net absorption. Record low vacancy and availability rates, along with the rise of pre-leasing activity continues to entice both local and national investors. Average asking lease … [Read more...] about Commercial RE Report
Commercial RE Report: Industrial SummaryFirst Quarter 2022
Northern Nevada By Angel Orozco & Dan Buhrmann, CBRE The Reno industrial market turned in healthy market fundamentals in Q1 2022, posting the tenth consecutive quarter of positive net absorption. Vacancy decreased quarter-over-quarter, closing Q1 2022 at 0.7 percent, the lowest on record. Availability rates followed suit, dropping to 1.7 percent. Average asking … [Read more...] about Commercial RE Report: Industrial Summary
Commercial RE Report: Industrial SummaryQ4 2021
Northern Nevada By Angel Orozco and Garrett Shutt, CBRE The Reno Industrial market has experienced exponential growth throughout 2021. The region has consistently been a target for large corporate manufacturing and distribution sites, but the pandemic has sky rocketed demand with no signs of stopping. The lack of Class A and B product in the market, led to a rise in … [Read more...] about Commercial RE Report: Industrial Summary