The Northern Nevada economic climate is showing signs of improvement, perhaps indicating that the retail vacancy rates may have peaked. The current overall vacancy level in Reno/Sparks declined to 17.99% from the previous quarter of 18.52% and 18.60% from the previous year.
The anchor space vacancy is currently at 14.88%. In-Line shops have decreased in vacancy from 23.07% last quarter to 22.62% this quarter. Total net absorption for this quarter was 16,779 square feet. The total gross absorption was 117,700 square feet for this quarter.
Click here to read the entire report.
Post a Comment