Press Release: Retail Group
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NAI Alliance Retail Division recently completed their market survey of the Reno Sparks Market for the second quarter of 2010. Excluding regional malls, their findings show total rentable square footage at 12,937,082 and total vacant square feet at 2,253,083. This gives an overall vacancy rate of 17.42%, line shop vacancy of 22% and anchor vacancy of 14.05%. These vacancy rates are the highest level on record. Total net absorption for the second quarter was -134,612 square feet and the total gross absorption was 50,002 square feet.
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