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2019 Q3 Reno Office Market Research Report

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Reno Sees Healthy Office Space Activity

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The third quarter of 2019 was one of the strongest quarters for office space in recent history. A healthy 130,000 square feet of positive absorption was recorded, with many large leases in the Downtown and Meadowood Submarkets. Vacancy decreased to 10.6 percent. These stats were enough to support new construction, which is why it was no surprise that Rancharrah finally broke ground with strong pre-leasing activity. Despite the positive statistics in the third quarter, we anticipate a few larger blocks of space to hit the market as a result of some of this quarter’s significant transactions. One example of this was Microsoft leasing 25,000 square feet on the second floor of Sierra Center Parkway, which will cause a vacancy of 40,000 square feet at 6100 Neil Road when they relocate in the fourth quarter.

 

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2019 Q3 Reno Office Market Research Report

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Melissa Molyneaux

Executive Vice President

Reno

Melissa is an Executive Vice President with Colliers International. Her area of specialization is office properties and her focus includes landlord and tenant representation in leasing and sales. Melissa served as the Executive Managing Director of the Reno office from 2015 to 2020.

Melissa is an active member of the community and has served on many boards, foundations and committees. She is the past president of Commercial Real Estate Women (CREW) and the College of Business Alumni Association (COBAA), as well as now being a lifetime Emeritus member.

Currently she is on the US Bank Advisory Board and a board member of EDAWN Board of Trustees. In addition, she is a member of the Northern Nevada CCIM Chapter, Commercial Real Estate Women (CREW), Economic Development Authority of Northern Nevada (EDAWN), and the Northern Nevada/California Society of Office and Industrial Realtors (SIOR) Chapter. Melissa is a graduate of the Leadership Reno-Sparks Class of 2009. She founded The Group in 2006 to help collaboration among women in business.

Melissa is a native Nevadan and enjoys the outdoor activities Northern Nevada offers, along with her husband Brian, daughter Charlotte, son Brennen and their two dogs. She is a fitness enthusiast and enjoys running, triathlons, Bikram yoga and cross-country skiing.

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