The Reno retail market in 1Q 2026 shows stable vacancy levels, steady asking rents, and a notable contraction in construction activity, while net absorption surged following a slow prior year. Explore our full Reno retail market report for deeper insights into leasing activity, sales performance, and development trends.
1Q 2026 Reno Retail Market: Key Data Points
- Vacancy Rate Declines: Retail vacancy compressed to 3.5%, improving 80 basis points year-over-year.
- Asking Rents Hold Steady: Average asking rent remained unchanged at $1.51 per SF per month with a slight 0.22% annual uptick.
- Construction Pipeline Shrinks:Under-construction retail space fell to 100,817 SF, a 24.69% decrease year-over-year.
- Construction Deliveries Drop: Only 1,662 SF delivered in 1Q 2026, a sharp 91.39% drop from last year.
- Net Absorption Rebounds: Net absorption reached 122,770 SF, improving from zero activity in 1Q 2025.
- Pricing Strengthens: Average sales price increased to $299 per SF, up 10.21% year-over-year.
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