Reno Retail Market Primed for a Resurgence in 2021
With the easing of many COVID-related business restrictions starting this summer and the most difficult part of the pandemic in the rear-view mirror, Reno’s retail market is primed for a resurgence in 2021. Roughly one-half of all adults in Washoe County have received at least one dose of the vaccine and Reno’s population growth has accelerated over the course of the pandemic. Retail was already undergoing significant disruption and transformation prior to the pandemic as a result of excess space per capita, accelerating e-commerce sales, and shifting consumer spending habits. However, there is a light at the end of the tunnel with tenant demand recovering and more households pouring into the Reno/Sparks region. With both businesses and households continuing to relocate to Northern Nevada in increasing numbers and new construction underway to address pent-up demand, Reno’s retail market will see recovering leasing activity and improving fundamentals.
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