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 2010. Excluding regional malls, their findings show total rentable square footage at 13,059,868 and total vacant square feet at 2,335,630. This gives an overall vacancy rate of 17.88%, line shop vacancy of 21.72% and anchor vacancy of 15.19%. Total net absorption for the fourth quarter was 60,265 square feet and the total gross absorption was 275,491 square feet. Gross absorption for the year was 749,052 square feet and the net absorption came in at 71,817 square feet.
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