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  • Writer's pictureTom Miller, CCIM

Northern Nevada’s Industrial Real Estate Report for Q2 2016

Our free quarterly market report, the Market Advisor, is now available for download on our Resources page. The report is a comprehensive look at lease rates, construction, vacancy, absorption, market velocity, with trending forecasts and an outlook into the third quarter of the year.

From the report:

“Are we witnessing the ‘Tesla Effect?’ In the fall of 2014, Tesla selected Nevada for its battery plant, currently still under construction east of town. In December of 2014, I published a blog post about the Tesla Effect: ‘My estimate is that by Q2 or Q3 of 2015, we will in fact be able to point to an escalating impact on our northern Nevada industrial real estate market.’

Certainly Tesla’s impact of adding world-wide awareness to our region has taken place and could have indirectly resulted in some added growth. However, as of Q1 2016, there are only a scant few new businesses we can link directly to supporting Tesla’s new plant. But that might be changing as we have at least two large international rms considering northern Nevada for manufacturing operations linked to Tesla. Either would add high quality, labor intense facilities to the area. Let’s hope this trend continues.”

This issue of the Market Advisor features a new graphic designed to better indicate the level of industrial real estate vacancy in our reporting area with more clarity regarding the constantly shifting balance of supply, demand and rent rates based on vacancy.

Download your free copy of our Market Advisor now, and join our mailing list to have copies of our report and other useful information emailed to you. 

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Miller Industrial Properties, Sparks, Reno, Nevada
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