Reno office market sees slight uptick in vacancy
- As the coronavirus continues to impact the economic stability across the nation, local markets continue to demonstrate resiliency and show beginning signs of recovery. The Reno office market posted negative 104,666 sq. ft. of net absorption in Q3 2020 as large blocks of Class A space were returned to the market. This drove the market wide vacancy to increase to 11.0%, while average asking lease rates decreased slightly to $1.80 per sq. ft. at the close of the quarter.