Here are a few quick points. Further details are in the PDF.
- Vacancy rates are below 10% for the first time since Q1 2008 – 9.1%
- A balanced Northern Nevada market is in the 8-10% range
- Gross absorbtion was 89% higher than Q4 2012
- Net absorbtion was 526% higher (not a typo) than Q4 2012 and 768% higher (also not a typo) than the 5 year average.
- There were 41 transactions in the quarter with an average size of 41,000 SF per transaction.
- Only one developer is grading on a 399,000 SF
- Might cause the market to tighten with tenant inability to wait for ground up development.
Click here to download the entire report.