Reno Retail MarketView Q2 2021

The Reno retail market posted 56,656 sq. ft. of positive net absorption in Q2 2021, the third consecutive quarter of occupancy gains. Overall market fundamentals are holding steady with vacancy at 5.6% and the average asking lease rate at $1.61 NNN. The availability rate decreased 80 basis points (bps) to 6.2%.