The Northern Nevada Industrial Market was tried and tested in 2023 as it weathered the highest volume of new construction deliveries, according to Kidder Mathews Research Group.
The Northern Nevada Industrial Market was tried and tested in 2023 as it weathered the highest volume of new construction deliveries, according to Kidder Mathews Research Group.
In 2023, there were 105 new deals completed market wide which was a substantial increase from only 92 deals completed in 2022.
All four quarters in 2023 posted positive net absorption, with Q4 having a positive net absorption of 411,361 square feet, bringing the total for the year to 2,741,871 square feet.
Average asking rates also had a strong quarter as all size ranges saw an increase in rates from the previous quarter.
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