Press Release: Retail Group
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NAI Alliance Retail Division recently completed their market survey of the Reno Sparks Market for the fourth quarter of 2009. Excluding regional malls, their findings show total rentable square footage at 12,935,703 and total vacant square feet at 2,179,834. This gives an overall vacancy rate of 16.85%, line shop vacancy of 20.99% and anchor vacancy of 13.82%. Total net absorption for the fourth quarter was -96,808 square feet and the total gross absorption was 115,576 square feet. Gross absorption for the year was 703,594 square feet and the net absorption came in at 38,142 square feet.
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