Monday, January 20, 2014

NAI Alliance Releases Q4 2013 Office Market Report

A good end to the year for the Northern Nevada Office Market.  The office market in Northern Nevada continued to improve at a rate not seen since the start of the recession in Q3 and Q4 2013.  Here are a few of the highlights from the report.
  • Q4 absorbtion nearly quadrupled quarter over quarter measures
  • Net absorbtion in 2013 was over 5x the 2012 net absorbtion at 202,244 square feet
  • Overall vacancy is down to 13.64%
  • Quality spaces in Class A buildings are at a premium, resulting in developers planning speculative building projects
  • Notable transactions:
  • Custom Ink, 50,000 square feet in the Reno Tech Center (100% occupancy)
  • LP Insurance, 22,000 square feet at Park Center Tower in Downtown (close to 100% occupancy 
 Click here to view the entire market report.

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