New construction, leasing and investment sales remain muted in most sectors of commercial real estate across Northern Nevada, but there were a few bright spots in the first three months of the year.
Industrial leasing in the first quarter totaled 2.2 million square feet, the second consecutive quarter of strong leasing activity, Colliers Reno industrial team reported. Big box leasing drove favorable gross absorption, with two confidential tenants in Tahoe Reno Industrial Center taking down spaces of 652,000 and 307,875 square feet.
Total industrial availability ticked down to 13.5 percent, running counter to the trend of increasing availability seen throughout much of 2025 as a flood of new spec industrial buildings hit the market without any tenant interest…