Commercial Statistics: High vacancy rates equal declining values

It’s impossible to drive around town without noticing the increasing number for lease signs going up on commercial office space. Over the last 3 years, office vacancies have gone up and avg. of 22%. One of the biggest factors affecting the value of commercial office space is the revenue they produce. These high vacancy rates have forced landlords to compete for the shrinking number of available tenants. In some parts of town, it is now possible to find office space leasing for as little as $1.15/ft. As a result, we have seen building values decline as much as 50% in some areas of Reno / Sparks since 2007.

Although this data may seem like bleak news to many commercial owners, this drop in value has created some great opportunities for the commercial investors that are currently looking for great deals.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630

Or visit my website: www.SellingHomesinReno.com

Joshua Talayka
NAR designated: Short Sale & Foreclosure Resource
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521