Retail Comes, Retail Goes

High unemployment, sagging tourism, and a host of other economic ills have understandably taken a big bit out of retail business in the Reno / Sparks area. Brand new retail space I watched being built a few years ago has never been leased and remains empty. "We've reached new record highs in vacancy rates across the board...with shop space, overall vacancy and anchor space. It's an unprecedented vacancy rate that we're seeing right now," said Mark Kayzers, a commercial real estate broker with NAI Alliance. Office space vacancies are at an all-time high of 17.42 percent.

All is not bleak, however, as some retailers are taking advantage of cheap rates for space and positioning themselves for a turn-around. Some of these folks are taking a big chance and deserve our support. Whenever you can, be sure to support locally-owned businesses in the Truckee Meadows.

The area's newest big shopping mall, Legends at Sparks Marina, recently reported that three Jones Apparel Group stores are pulling out, but two restaurants are moving in. Elsewhere around town, entrepreneurs are cautiously starting to open where others have feared to tread. Kohl's, the department store chain with locations in Reno and Sparks, is going to open a new store in Carson City next month.

Sources: KTVN News, Reno Gazette-Journal.

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