NAI Alliance Office Properties Group Releases Q4 2013 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.

Greater Nevada Credit Union Leases Space in Ridgeview Town Center

(Reno, NV) – Greater Nevada Credit Union leased 1,900 square feet in Ridgeview Town Center located at 5150 Mae Anne Avenue, Suite 203 in Reno, Nevada. In this lease transaction the NAI Office Properties Group of Dominic Brunetti, CCIM and Scott Shanks, SIOR represented the tenant, Greater Nevada Credit Union.

NAI Alliance Office Team Secures Exclusive Lease Listing for 255 West Peckham Lane

Reno, Nevada – Dominic Brunetti, CCIM, along with his partner Scott Shanks, SIOR have secured the exclusive lease listing for 255 West Peckham Lane in Reno, Nevada. The professional multi‐tenant office building is 6,882 square feet and was built in 1983. The lease rate is $1.50 per square foot. There is currently 1,100 square feet available.