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A college friend of mine who is the managing partner of a major commercial real estate brokerage firm in the Bay Area expressed they are seeing drastic increases in lease rates and effective rents. In addition, I've talked to some other Bay Area brokers who said tenant bidding wars are back. Although the real estate cycles in the Silicon Valley recover faster, it's still a positive sign for commercial real estate brokers in Northern Nevada. This will have a beneficial impact on Reno and Sparks.
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