Greetings, I read an article today about our re-surging apartment sales market in Reno. Many commercial brokers are optimistic this particular sector will continue to improve because of the lowering vacancy and lack of new construction. Apartment vacancy is currently running at 6.56% according to the appraisal firm of Johnson Perkins, who tracks all apartments [...]
Post Tagged with: "commercial"
Commercial Real Estate Offers Investors Refuge
Greetings, Kenneth P. Riggs, president of Real Estate Research Group, writes an interesting article about how investors are viewing commercial real estate investments with renewed interest, especially given the dismal standing of their other investment options, such as stocks or bonds. With record amounts of cash on the sidelines, institutional and private investors are seeing [...]
Grubb & Ellis Year End Forecast
Greetings, Last year was stagnant in the office sector in the Reno/Sparks market. Overall vacancy continued to maintain at between 19% and 20%, due primarily to the loss of tenants from Class C and B- space to Class A. This has been termed “flight to quality”. Absorption for the year did go into the positive [...]
It’s A Commercial Tenant’s World
Greetings, I recently spoke with a colleague who owns several office buildings in downtown Reno. We were talking about the office market in general and how difficult it has been lately to find tenants for empty space. That is good for tenants and not so good for landlords. The overall office vacancy has consistently [...]
When Planning to Lease Commercial Office Space, Plan Ahead!
Greetings, As commercial office specialists with Grubb & Ellis, my partner I work with quite a few tenants who move from one office location to another. Their reason for moving often involves the opportunity to lease nicer space for the same or less rent than their current location. Sometimes the tenant has downsized his business, [...]
