Reno’s Resilient Office Market
Reno’s office market fundamentals continued to show its resilience one year into the pandemic. While other West Coast office markets have seen substantial vacancy rate increases and notable occupancy losses, Reno’s office demand has stabilized in recent months and vacancy has only slightly ticked up over the last year. Rents are increasing, sales volume is up, and net absorption has been positive for two consecutive quarters. With companies and households continuing to relocate to the Reno/Sparks region in increasing numbers, the future of Northern Nevada’s office market is bright in 2021 and beyond.
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