The Shift to a Landlord-Friendly Market in Northern Nevada
“There will be little talk of recovery in the northern Nevada industrial real estate market as we review the second quarter of 2015. Those days are in the rear-view mirror. Today’s topics are all about market expansion. Developing, buying, building and leasing are all happening at a strong rate, and the wheels of the market are continuing to accelerate.
It’s no news that lease rates have been rising; however, now we are seeing landlords becoming more aggressive with higher rent increases through the lease term, longer lease terms, fewer free rent concessions, fewer tenant improvement allowances and much closer attention to a tenant’s financial strength, even prior to quoting any lease rates. In short, landlords are flexing their muscles. Why? Because they can.”
The Q2 2015 Market Advisor prompted an article in the Reno-Gazette Journal: “When it comes to northern Nevada’s industrial market, forget about recovery. It’s all about expansion now, according to a report Thursday.”
Get your free copy of our report for information about net absorption and vacancy, a sub-market breakdown, significant transactions, trending and a forecast through the next quarter. Visit the Resources page of our website and scroll down to Q2 Market Advisor for the free download.