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2021 Summer Reno Retail Market Research Report

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Retail Market Sees Surging Demand

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As businesses have begun shifting to 100 percent operating capacity since early June, demand for retail space has surged in the second quarter of 2021. With large leases signed by Crunch Fitness, Salvation Army, and Octapharma Plasma through the first half of the year, quarterly leasing activity this quarter rivaled pre-pandemic levels. The market has roughly 336,000 square feet of retail space under construction or undergoing renovation which are expected to deliver in the next five quarters. Retail sales volumes totaled $32.7 million this quarter and the average sale price per square foot increased 5.5 percent quarter-over-quarter to $181. Reno has experienced continued population growth through the pandemic, with more families migrating to the area each quarter. With the influx of new businesses and households entering the region, the retail market can expect elevated levels of demand throughout the second half of the year.

 

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2021 Summer Reno Retail Market Research Report

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Related Experts

Jordan Lehman

Research Analyst

Reno

As a Research Analyst in Reno, I  perform database maintenance and work with the Northwest Research team to produce quarterly reports for the region. I also track market activity to provide meaningful insights for our excellent group of advisors. My areas of interest  include the Industrial, Office, and Retail sectors. With a background in finance, I enjoy the creative problem solving involved in research.

Outside the office my passions are film, music, and rock climbing.

 

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Randy Dixon

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Prior to joining Colliers in July 2010, Randy was 22 years experience in Commercial Real Estate with Hines, a privately owned, international real estate firm that has provided the highest level of quality, service and value to its clients and investors.  Randy most recently was responsible for Asset Management services for the 39 properties totaling 3.5 million square feet as well as New Business for the Sacramento area.  Over his tenure with Hines he has worked in Seattle, San Francisco, Los Angeles and San Diego in building successful teams and providing oversight to Asset, Leasing, Property, Facilities and Construction Management services. 

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I have ample experience in office, industrial, multifamily, and retail research, assisting brokers in the leasing and selling of property. I focused primarily on the office and industrial markets in the Seattle/Puget Sound region from 2015-2017. From the fall of 2017 to early 2018, I was the office market research analyst at JLL in Sacramento, spending most of my time on Downtown office landlord rep-related work. Since May 2018, I have been back at Colliers in my hometown of Sacramento. At Colliers | Sacramento,  from mid-2018 to today,I have accelerated my career in the support of 40 brokers across the Capital City region. In late  2020, I was tasked with overseeing the Reno market while managing a new research associate. Over the last few years, I have extensive experience across many sectors of commercial real estate, including office, industrial, multifamily, retail, capital markets, healthcare, and life science. 

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