Second Quarter 2019 Industrial Real Estate Performance in Northern Nevada0

Posted by Thomas Miller, CCIM

leasing-warehouse-avoid-mistakes-miller-industrial-properties-renoMiller Industrial Properties strives to maintain the most accurate data about the local industrial real estate market in northern Nevada. And then we make that information public every quarter, in the form of our free publication, the Market Advisor. It’s our way of sharing our expertise and insight with those considering leasing, buying, or selling industrial real estate. Our second quarter reports now available for download – a look at what the northern Nevada market has done over the past quarter and what it may indicate about the rest of 2019.

From the Report

Our report headline sums it up nicely – the second quarter of the year has been a time of maintaining our batting average. From the report:

“When the quarterly commercial real estate absorption is tallied, the chatter in the CRE industry revolves around whether we’re seeing a slowdown in activity. There will be reports of a continued bull market, as well as naysayers purporting to see a trend of slowing activity. Either way, one thing is certain – to judge industry trends based on one or two quarters of activity is not prudent. If we zoom out and take a more broad-based look at absorption with respect to five-year averages, we can observe more balanced data points. It’s also important to remember that northern Nevada has experienced record growth for the past few years so. If our growth appears a bit slowed, it’s coming down from all-time record highs.”

The report includes a quick trends snapshot, including lease rates and vacancy, as well as a current quarter vacancy analysis, historic gross and net absorption, a submarket statistic breakdown, and significant transactions during Q2. There’s a construction overview, and a summer and fall forecast.

Download your free, valuable copy of the second quarter Market Advisor now.

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About the Author

Thomas Miller, CCIM

Thomas Miller, CCIM is the president and broker of Miller Industrial Properties in Reno, Nevada. He has worked in industrial real estate since 1991, with 15 years of previous experience designing and building industrial warehousing and manufacturing facilities in the northern Nevada market. Contact Tom at tom@mipnv.com or 775-742-9891.

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