Recovering Investment Activity as Sublease Availability Swells
Reno’s office market experienced recovering sale volume, strong tenant demand, and growing sublease availability in Q3 2022. Investment activity recovered this quarter to $43.5 million, though average price per square foot has continued to drop. With nearly 55,000 square feet of net absorption, nearly half of annual absorption to date, Northern Nevada saw a flurry of leasing activity in the third quarter. Sublease space has grown steadily this year and is now more than one-fifth of all available space. Reno’s strong tenant demand and continued investment activity point to healthy market fundamentals throughout the year.
Would you like to have future reports delivered directly to your inbox? Sign-up to this and other regional e-mail delivery lists.
Subscribe Here