Reno Industrial Tenants Leave Sublease Space in Their Wake

The Reno industrial market has recorded an increasing vacancy rate since the first quarter of 2022. At the time, demand was strong, but more stock has since entered the market than absorbed, pushing the vacancy rate up by 510 basis points. A driving factor has been the increasing number of sublease spaces entering the market, which account for more than 20% of spaces of 100,000 square feet or more.