The Reno retail market in Q3 2025 saw a slight increase in vacancy and a modest rise in asking rents, while construction activity surged and sales pricing declined. Net absorption rebounded significantly year-over-year, signaling renewed tenant demand. Explore our full Reno retail market report for detailed insights into leasing, investment, and development trends.
3Q 2025 Reno Retail Market: Key Data Points
- Vacancy Rate Rises: Retail vacancy increased to 4.1%, up 60 basis points year-over-year.
- Asking Rents Increase: Average asking rent reached $1.50/SF, a 4.24% rise from Q3 2024.
- Construction Pipeline Expands: Space under construction rose to 93,817 SF, a 222.4% increase year-over-year.
- Sales Prices Decline: Average sales price per square foot fell to $188, down 33.3% year-over-year.
- Net Absorption Rebounds: Net absorption totaled 85,551 SF YTD, compared to -123,140 SF in 2024.
- No New Deliveries: No construction deliveries were recorded YTD, down from 50,911 SF in the prior year.
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