Please contact EDAWN for industrial and corporate location assistance:
5190 Neil Road, Suite 111
Reno, NV 89502
Telephone: (775) 829-3700
Fax: (775) 829-3710
Email: edawn@nevadanet.com
Sign our guest book if you are interested in relocating a corporate headquarters, a regional operation or industrial manufacturing business in Reno/Sparks, Nevada.
Reno - Sparks - TahoeThe greater Reno/Sparks area has more than 46 million square feet of industrial, office and commercial space plus zoned properties ready for development. In planning for the future, the area continues to develop to satisfy increasing demand in space. Speculative space is available. Improved industrial and business parks offer sites at a wide range of prices, with easy access to existing freeways and close proximity to the Reno/tahoe International Airport.
Zoned, buildable industrial sites are available in Reno/Sparks ranging in price from $1.72 to $5.50 per square foot, for uses ranging from warehousing/distribution to manufacturing to research and development. Time required for permitting and construction is significantly shorter than in many western cities. The industrial market grew 1.08% in 1997, reaching a total of 42.7 million square feet, one of the highest per capita in the United States. Despite a continued high demand, industrial rental rates remain lower than many urban areas of the west. Planned speculative industrial development during 1998 is nearly 5 million square feet.
Source: CB Commercial RE Group, Inc.
Comparative Industrial Rental & Land Price Ranges
| Industrial (Price per SqFt) |
Reno | Los Angeles | Las Vegas | San Jose |
|
|---|---|---|---|---|---|
| Buildings (sales) | |||||
| 100,000+ | $27-30 | $34.51 | $45.00 | $75-125 | |
| 40,000 - 60,000 | $28-38 | $34.10 | $48.00 | $75-125 | |
| 5,000 - 20,000 | $45-60 | $44.30 | $55.00 | $75-125 | |
| Buildings (lease rate net) | |||||
| 100,000+ | $2.64-3.60 | $4.20 | $4.32 | $9-13.80 | |
| 40,000-60,000 | $2.64-3.60 | $4.20 | $4.56 | $9-13.80 | |
| 5,000-20,000 | $3.36-5.64 | $4.56 | $6.60 | $9-13.80 | |
| Building Construction | |||||
| 100,000+ | $22-25 | $20 | $19 | n/a | |
| 40,000-60,000 | $24-34 | $26 | $26 | n/a | |
| 5,000-20,000 | $29-51 | $39 | $35 | n/a | |
| Sites (improved) | |||||
| 10+ acres | $3.50-5.50 | $2 | $6 | $15-25 | |
| 5-10 | $3.50-5.50 | $2.75 | $6 | $15-25 | |
| 2-5 | $4-5.50 | $2.30 | $7 | 15-25 | |
Source: SIOR Industrial Real Estate Market Survey. 1995
Reno/Sparks has numerous available office buildings. There are 5 major metropolitan areas with 175 buildings available which offer over 5 million square feet of net rentable space. This translates to over 632,000 square feet total available space and 13.0% vacancy rate in 1995. Rental rates for existing offices and for construction of owner owned buildings are competitive. Since the Reno/Sparks area is in high demand, vacancy rates are dropping, indicating a strong, healthy and active market. There is ample land for build-to-suit projects in the area.
| Area | *Range - Class A & B | Vacancy Rate | |
|---|---|---|---|
| Dowtown | Suburban | Metropolitan | |
| Reno | $15.60-21.00 | $16.20-19.80 | 9.6 % |
| Los Angeles | $16.00-28.00 | n/a | 17.6% |
| Las Vegas | $29.04 | $21.00-30.00 | 4% |
| San Jose | $22.80-30.00 | $18.00-35.40 | 4% |
* Annual price per SqFt
Source: CD Commercial RE Group, Inc., 1997
Source: Reno/Sparks Association of Realtors, 1997. ACCRA Cost of Living Index 3rd Qtr 1997.
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