The residential real estate market is booming right now, but what about the commercial real estate market in Northern Nevada? As a whole, steady improvement has been the trend with the future looking even more hopeful.


The influx of new businesses has given the Reno/Sparks area a huge boost in the industrial real estate market. Since the announcement of the Tesla Gigafactory making its home in the area, several other companies have followed suit—Switch, Apple and Google to name a few. Many predicted that the industrial market would bring Northern Nevada back to life after the great recession. That has turned out to be true so far. A robust distribution market has also contributed to the recovery. New distribution companies in the area include companies like ITS Logistics,, and Zulily. The industrial market is growing and has already spurred plans for new development.


The retail sector is making a steady comeback with a recent vacancy rate of 12%. This sector suffered a great deal in the recession. The peak vacancy rate was 17%. At 12% there is still room for improvement since the target rate is 8%. The industry as a whole must also adjust as retailers look for ways to compete with e-commerce.


Office space started the year with a vacancy rate of about 15%. This is higher than the target 10% but office space is an area that often takes longer to make its recovery. Regardless of the vacancy rate rents have been rising steadily over the last 2 years which is a good sign.

The commercial real estate market in Northern Nevada looks very promising. Some sectors have room to grow but all sectors show consistent improvement.


Lisamarie Wand is experienced in commercial real estate, residential real estate, and property management. Whether you are looking to expand your portfolio or looking to relocate, Lisamarie can help you meet your financial goals. Contact her today with your questions!