2Q14 Retail Market Report

The NAI Alliance Retail Properties Group has released its Q2 2014 Northern Nevada Retail Market Report.  Here are some of the salient points from the report:

• Overall vacancy rates decreased slightly to 16.57%
• Anchor space vacancy is currently at 13.09%
• In-line shops decreased in vacancy to 21.52%
• There were 48 tenants moving into space in Q2 2014 resulting in 247,843 square feet of new leases.
• In this quarter, net absorption was 109,604 square feet and gross absorption was 247,843 square feet. 
• There were two significant sales in the second quarter. The Texaco at 1365 Baring Blvd. and a small retail strip center at 1145 N. McCarran Blvd. Find more details in our quarterly market report.

Please click here to download the entire report.

NAI Alliance Retail Group Releases Q4 2013 Market Report

The NAI Alliance Retail Properties Group has released its Q4 2013 Northern Nevada Retail Market Report.  Here are some of the salient points from the report:

• Overall vacancy rates decreased slightly to 17.45%
• Anchor space vacancy is currently at 13.79%
• In-line shops decreased in vacancy to 22.8%
• There were 23 tenants moving into space in Q4 2013 resulting in 74,406 square feet of new leases.
• In 2013, net absorbtion was 117,873 square feet and gross absorbtion was 465,798 square feet. 
• There were 4 significant investment sales in the second half of 2013, including the Sparks Galleria which sold for $26.2 Million.

Please click here to download the entire report.

NAI Alliance Secures Exclusive Lease for Dunkin' Donuts - Sites Being Sought

Dunkin' Donuts is coming to Northern Nevada and they're looking to move quickly. Mark Keyzers, Senior Vice President of the NAI Alliance Retail Properties Group recently completed the exclusive lease agreement with Dunkin’ Donuts.

Dunkin’ Donuts is currently seeking sites for the nine new store locations from existing land and property owners throughout Northern Nevada. With this agreement between HT2 Franchising and Dunkin’ Donuts, all franchise opportunities are sold out in Reno.

For more information on locations and planning, please contact Mark Keyzers, the exclusive leasing agent, at (775) 336-4663 for details and requirements.

Q3 2013 Retail Market Report Now Available

Recovery is continuing, however, history says we need to persevere and be prepared for a long run.  A very slight increase in vacancy (.02%) in Q3 2013 is still nearly a full percentage point lower than Q2 2012.   

The anchor space vacancy is currently at 13.52%. In-Line shops have increased in vacancy to 23.46% this quarter from 23.42% last quarter. Total net absorption for this quarter was a negative 7,162 square feet, while the gross absorption was 68,391 square feet.

New tenant locations and new investments are happening.  Positive news for tenants is that there are good rates on good spaces available.

Many of the underlying statistics are improving. Housing value and consumer spending are trending higher, housing sales are increasing, while unemployment has dropped significantly. These numbers allude to an improving local economy.

Things are picking up, but we must be patient in the retail sector. 

To read the entire report click here.

NAI Alliance Q2 2013 Retail Market Report Now Available

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 17.54% from the previous quarter of 18.25% and from the previous year of 18.52%. 

The anchor space vacancy is currently at 13.52%. In-Line shops have increased in vacancy to 23.42% this quarter from 23.10% last quarter. Total net absorption for this quarter was 104,226 square feet,
while the gross absorption was 201,501 square feet. 

Click here to read the entire Q2 2013 Retail Market Report from NAI Alliance. 

NAI Alliance Q1 2013 Retail Market Report Now Available

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.

 

Tenants in the Damonte Ranch Town Center Growing with the Area - by NAI Alliance

(Excerpts of this article were published in the March 25, 2013 edition of Northern Nevada Business Weekly - Mark Keyzers, SVP Principal of NAI Alliance Retail Property Group contributed to the piece)

The Damonte Ranch Town Center, on the northeast corner of Damonte Ranch Parkway and Steamboat Parkway in Reno, is proud to announce a number of locally owned tenants at the growing retail development. The property is being developed by Lewis Retail Centers, a member of the Lewis Group of Companies, and represented by NAI Alliance of Reno.

A total of six new tenants have opened for business in the development: Mattress Discounters, Mountain America Credit Union, Moana Dental Care, the Damonte Ranch Animal Hospital, Twisted Fork, and Asian Paradise have all recently moved into the development anchored by the Home Depot and RC Willey. Damonte Ranch Town Center features other businesses such as Starbucks, CVS, McDonalds, High Sierra Cycling, Vino 100, and 7-Eleven to name a few.

The development now has over 85% of its completed space occupied, according to Gigi Chisel, Vice President Northern Nevada Development for Lewis Operating Corp. “Despite the challenges of our local economy, we could not be more pleased........"  Click here to read the entire article from NAI Alliance.