— By Rick Nelson of Mark IV Capital — The Northern Nevada industrial market continues to stabilize following several years of rapid expansion and then a recalibration driven by broader economic uncertainty. Current conditions have presented challenges, particularly in the logistics and distribution sectors where tariffs and shifting trade policies have created a more cautious investment climate. Fortunately, there are signs of resilience and forward momentum. The region’s vacancy rate stands at 11.7 percent, down from its peak in fourth-quarter 2024, per CBRE. The market also recorded its third consecutive quarter of positive net absorption, with 130,433 square feet absorbed that quarter, bringing the year-to-date total to 1.9 million square feet. Although current construction activity has moderated to 1.6 million square feet currently underway, the development pipeline remains robust, with an additional 15.8 million square feet in planning stages. This underscores sustained investor interest despite elevated vacancy and measured tenant activity. Advanced manufacturing and data centers are poised to be the vanguard of industrial development in the greater Reno area going forward. Cushman & Wakefield recently named Reno No. 5 among emerging data center markets worldwide in its 2025 Global Data Center Market Comparison Report. This recognition reflects the growing …
By Taylor Williams Although the Dallas-Fort Worth (DFW) industrial market is, objectively speaking, currently overbuilt, the recovery and return to healthy dynamics is already taking shape. As that unfolds, manufacturing facilities are having a moment. According to CBRE’s third-quarter data, between 2021 and 2023 — the height of the post-COVID e-commerce craze that coincided with the last days of historically low interest rates — developers in DFW added nearly 130 million square feet of new industrial product. The supply boom mostly involved warehouse and distribution facilities, and absorption of new deliveries was coming along until this spring, when Liberation Day injected a staggering dose of economic uncertainty into the market. In recent weeks, leasing activity has begun to pick back up. But investors looking to deploy capital into industrial assets see more upside on deals for manufacturing facilities at the moment, whether that means buying existing plants with heavy built-in power sources or targeting distribution buildings that can support manufacturing through light conversions. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. At the annual DFW/North Central Texas Industrial conference …
If you’ve spent any time driving around Atlanta recently, you’ve probably noticed something. More development sites are returning with bulldozers and developers are taking down land parcels in the suburbs the size of small European countries. But this time, the approach is more strategic than ever. Gone are the days when a developer would carve out a shopping center for base rents less than $40 per square foot and call it a day. Today, some metro Atlanta developers are assembling larger tracts and creating hybrid projects that include multifamily housing, storage and even industrial uses in the back of the parcel, saving the front-facing road frontage for ground leases, build-to-suits and limited shop space. Automotive and restaurants concepts are clamoring for pads. The result? Those once-overlooked “front and center” pad sites and strip centers are suddenly the belle of the ball. The downside is paying too much on the buy side for the dirt for aggressively low caps rates. But all I can say for the rental rates that I’m seeing is “Wow.” Restaurants still lead In Atlanta’s retail market, restaurants continue to be the leading driver of leasing activity. According to observations, excluding junior box space, food-and-beverage deals made …
By Sam Rolfe, The Lerner Company It seems Omaha’s retail market shows no signs of slowing down from a position of strength, which received a tangible boost when the metro-area population hit the magic 1 million mark. It’s funny that this population hurdle opens the eyes of retailers so much more than 970,000 would, but there’s no doubt that it does, and the market has reacted accordingly, with year-over-year asking rents up 5.4 percent. The seemingly rapid growth and development have not vastly affected the city’s historically strong fundamentals and high occupancy rates however, with the vacancy rate in the metro at 4.4 percent. This low vacancy is partially a byproduct of the historically low supply that has plagued the market in recent years. Over the last decade, we have seen vast westward growth and somewhat stagnant activity in the urban core and central region. Although the westward march continues, it is now coupled with large amounts of urban development, making the city’s retail market strong within eastern submarkets. The old adage “retail follows rooftops” has held true throughout this growth cycle, as retail developments follow the suburban growth of both homes and apartments. One example of this is at …
By Taylor Williams What do the phrases “owner-occupier,” “small-bay” and “mid-range WALT” have in common? They could potentially be obscure references to real-life inspirations behind songs on the new Taylor Swift album. But just in case that’s not the case, these terms also represent types of industrial investment plays that have become increasingly favorable among owners and prospective buyers in Northeast markets. The rising popularity of these deals attests to shifts in the broader landscape, i.e. — large-scale e-commerce and logistics facilities have been either overbuilt or priced to perfection in many areas. But the past 12 months have seen industrial deal volume in major Northeast markets regain traction. Although some — if not most — of that activity is tied to interest rates and geopolitics, the emergence of different deal types is nonetheless a positive indicator because it speaks to the creative approach that the investment community has taken in its return to the market. Unlike a few years ago, industrial real estate today is not a mindless beneficiary of both institutional and private debt and equity — a bottomless pit of capital flows. Tenants are no longer forced to write quasi-blank checks to owners just to secure crucial …
— By Ben Galles of CBRE — The Reno multifamily market started 2025 with a large supply of new Class A units that was delivered in the fourth quarter of last year. Despite some market challenges, leasing activity of the new supply has gone well, given the limited construction pipeline. There are currently fewer than 700 market-rate units under construction, with very few projects moving forward and starting construction. The constrained development pipeline will likely lead to a significant decrease in vacancy in the second half of 2026 and beyond. This should also start to push rental rates higher, which have been static or slightly down for most of the year, as many owners have offered rent concessions to lock in new tenants. While future market fundamentals are promising, many buyers remained on the sidelines because most deals have been presented at negative leverage. The average price per unit in 2025 (year to date) is down about 22 percent, while the price per square foot is down about 16 percent (year to date) from the previous year. This is due to a few things. First, there was an increase in the number of Class B and C assets that traded …
By Jamee Jolly, president and CEO, The Real Estate Council With record population growth and a $2.7 trillion economy, Texas faces mounting pressure to expand its housing supply and affordability. New legislation from the 89th legislative session gives developers, cities and investors new tools to build sustainable communities through stronger collaboration between the public and private sectors. From established patterns of corporate relocations, job creation and direct foreign investment to fostering emerging industries like renewable energy, semiconductor manufacturing, aerospace and financial services, Texas has a long history of economic strength, industry diversification and innovation. That track record makes it one of the nation’s premier destinations for both businesses and residents. Last year, according to U.S. Census Bureau data, Texas led the nation in population growth for the 14th consecutive year, adding more than 560,000 people to reach over 31 million statewide. In North Texas, the population in Dallas-Fort Worth (DFW) alone is expected to grow from 8 million to 12 million residents by 2050. While this growth fuels one of the world’s largest economies, it has also created a shortage of more than 320,000 homes and a rising challenge of housing affordability statewide, particularly at the entry-level price point, where …
After several years of breakneck growth, Atlanta’s industrial sector has clearly shifted into a mid-cycle recalibration. Vacancy has climbed to 8.4 percent, well above the 10-year average of 5.8 percent, as a record wave of big-box deliveries collides with softer demand. Twelve-month net absorption turned negative for the first time since 2011, dropping 453,000 square feet despite 14.9 million square feet of new deliveries over the past year. Developers and tenants alike are adjusting, but the region’s logistics advantages and diverse economy keep long-term fundamentals intact. Supply and demand The pandemic-era surge of speculative construction has decisively slowed. Construction starts have fallen roughly 70 percent from the five-year average, leaving 16.3 million square feet under construction, with just 25 percent available — down from 60 percent a year ago. Most large projects are now data centers, such as a 1.5 million-square-foot QTS facility in Fayette/Coweta County and a 1.2 million-square-foot Microsoft data center near Hartsfield-Jackson Atlanta International Airport. Vacancy is rising fastest in submarkets that saw heavy new supply. Kennesaw/Acworth, for example, has added over 9 million square feet since 2023 and now posts about 13 percent availability for buildings sized 200,000 square feet and larger. Sublease availability has grown …
By Marc Hale, DarwinPW Realty/CORFAC International The Chicagoland industrial market continues to stand out as one of the most important in the country. Its location at the center of the U.S. transportation network gives companies the ability to reach nearly one-third of the nation’s population within a single day’s drive. Six Class I railroads, an abundance of intermodal facilities and seven major interstate highways all converge here, making it one of the most efficient distribution platforms in North America. Chicago O’Hare International Airport also ranks among the top cargo airports in the world, adding critical global connectivity. These advantages are reinforced by a large and diverse labor pool, which has long supported the region’s position as a major hub for manufacturers, distributors and logistics providers. The area’s role as a manufacturing hub is further reinforced by its proximity to major steel mills and primary metal production facilities, the depth of its skilled workforce and plentiful access to water from Lake Michigan, which has long supported heavy industry and advanced manufacturing across the region. The market’s vacancy rate has been trending higher, moving from 5.2 percent in the third quarter of 2024 to 5.9 percent in the third quarter of 2025. …
— By Sam Meredith of Colliers — After a slow and uncertain start to 2025, the retail market in Reno and Sparks is finally finding its stride. The first half of the year saw many tenants hit pause on leasing decisions as economic jitters made retailers cautious. By the third quarter, however, the mood had shifted. Leasing activity picked up noticeably, and tenants are now back in the market, actively looking for space. That momentum is expected to carry through the fourth quarter and into 2026, with healthy absorption on the horizon. This turnaround is backed by solid market indicators. Net absorption turned positive in the second quarter, while asking rents rose quarter over quarter. Vacancies nudged upward due to big-box closures, including three Big Lots and a Joann store early in the year, but the overall retail vacancy still sits at a manageable 5.4 percent. In fact, several submarkets, including North Valleys, Northwest Reno, South Reno and Southwest Reno, are reporting vacancy rates below 2 percent, showing strong demand in key areas. Retailers are clearly taking notice. Trader Joe’s, which once considered Northern Nevada a one-store market, has now opened two additional locations in Spanish Springs and South Reno. …