Northern Nevada is making room for industrial space this year, sectioning off 4.5 million square feet of land, but developers are facing some hurdles.
Companies are continuing to plant their flag in the state. Nearly every building constructed in 2018 was leased, including the largest speculative building ever constructed in Nevada, an 800,000 square foot facility at North Valleys Commerce Center, which was wholly leased to S&S Activewear.
Many of the new industrial buildings planned for the region this year are facing escalating construction costs.
A Reno industrial specialist says costs for materials and labor continue to rise substantially, in some cases as much as 15 to 25 percent. Outside of increased construction costs, another pressing factor is finding suitable ground for large-scale projects.
Nevertheless, developers are still moving forward in Nevada.
Check out the entire story at the Northern Nevada Business View.
