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.
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