Wednesday, September 4, 2013

NAI Alliance Office Q2 2013 Market Report Available

There has been a good deal of buzz regarding Industrial and Retail Commercial Real Estate space in Northern Nevada. Now it's time to shed some light on the Office Market.  Net absorbtion was positive, but a little slower than Q1.  There are a number of transactions we know about on the horizon, so we're anticipating a good report in Q3.  Again the phrase cautious optimism in a slow, but continually upward trending, recovery.

Of interest in the report is the American Care Act (ACA) enrollment beginning October 1.  Small businesses in the service industries are in agreement that hiring full-time employees is a risk only a few are willing to take.

Here are some of the highlights of the report: 
  • The decelerated, yet positive, net absorbtion does not accurately depict the activity levels in the market.
  • Much of the activity can be attributed to local expansion within service industries
  • Downtown continues to see signs of health at 14.42% vacancy
  • The Meadowood submarket continues to be the stronghold at 12% vacancy
  • There were a total of 34 transactions in Q2
You can read the entire report by clicking here.

No comments: