Article form Northern Nevada Business Weekly: Developers – Spec Industrial to Stay Stalled
October 3, 2011 – With rental rates below 30 cents a square foot per month and build-to-suit construction readily available, developers don’t expect speculative construction to pick up any time soon. If companies are interested in locating their operations in northern Nevada, waiting 11 to 12 months for a build-to-suit facility won’t deter their plans. Case in point: Dermody Properties’ construction of a 462,720-square-foot Internet fulfillment center for Urban Outfitters in Stead. However, John Atwell, COO for Dermody Properties, says that as companies such as Urban Outfitters and Toys “R” Us continue to make northern Nevada their home for Internet fulfillment centers, rents could stabilize, leading to some new industrial construction.
Read the full article from Northern Nevada Business Weekly.