Northern Nevada By Colliers | Reno The Reno/Sparks office market has begun its journey to recovery in the fourth quarter of 2020, with positive office job growth and strong in-migration pointing to a rebound in the near future. Office vacancy saw a 40 basis point decrease since the previous quarter, from 13.1 percent in the third quarter to 12.7 percent in the fourth … [Read more...] about Commercial RE Report
Colliers International - Reno
Commercial RE ReportOffice Summary: Third Quarter 2020
Northern Nevada By Colliers | Reno Reno/Sparks saw office vacancy increase in the third quarter of 2020 to 10.8 percent as net absorption turned negative. There were no new completions of office space during the quarter. The average asking rate for office space increased slightly, to $1.84 per square foot (PSF) on a full-service gross (FSG) basis from $1.83 in the second … [Read more...] about Commercial RE Report
Commercial RE ReportOffice Summary: First Quarter 2020
Commercial RE ReportOffice Summary: Fourth Quarter 2019
Northern Nevada By Colliers International | Reno Office vacancy continued to decrease in Reno/Sparks, dropping to a very healthy 10.1 percent in the fourth quarter of 2019, down from 11.8 percent in the fourth quarter of 2018. After a sharp increase in vacancy in the first quarter of 2019, when it reached 13.1 percent, vacancy fell in every quarter thereafter. There … [Read more...] about Commercial RE Report
Commercial RE ReportOffice Summary First Quarter 2019
Northern Nevada By Colliers | Reno The Northern Nevada office market is starting off a bit bumpy in 2019 with vacancy increasing from 11.8 percent at the end of 2018 to 12.5 percent this quarter. This was due to 78,154 square feet of negative net absorption, continuing the downward trajectory seen in the fourth quarter. Vacancy was as low as 11.0 percent in the third … [Read more...] about Commercial RE Report
Mega ProjectsNevada’s Changing Skylines
Looming prominently across I-15 from the Strip, the future stadium of the National Football League’s (NFL) Raiders is well on its way to hosting its first game. Las Vegas Stadium is among several mega-projects currently under construction in Nevada and making their way into the Valley’s economic landscape. Other major projects include the expansion of the Las Vegas … [Read more...] about Mega Projects