A Stabilized Industrial Real Estate Market Emerges in Reno-Sparks
From the Market Advisor for Q1 2017:
“If you have been following the Reno–Sparks industrial real estate market growth over the past few years, you are familiar with names like Zulily.com, Amazon.com, Jet.com, Chewy. com (noticing an E-commerce pattern?), Petco, Sanmar, ITS Logistics and the like.
Those seven projects alone consumed over 4.5 million square feet of vacant space.
The good news is that when these large users move into space, the size of the deal really moves the needle and vacancy drops. However, any market that has been experiencing growth through these large transactions is also subject to a perceived downturn when these large deals don’t sign up on any given quarter. This is what the Q1 numbers of 2017 are showing.”
Download your free copy of the Market Advisor now, and discover what happened in the local industrial real estate market this quarter.