The retail market in Washoe County remained steady in Q4, with vacancy moving down slightly to 3.8%, reflecting sustained demand for retail space. The quarter did not include any leases exceeding 6,000 sq. ft., indicating limited large-format leasing activity. The largest direct lease was Anthropologie’s 5,995 sq. ft. lease at the Summit Mall. Remaining leasing activity consisted primarily of smaller-format retail spaces, totaling 105,782 sq. ft. of net absorption in 2025. While large-format leasing was limited, the lack of movement reflects a tightly held market with constrained availability rather than weakened tenant demand. With vacancy continuing to trend lower, the retail sector is expected to remain stable and competitive heading into the new year.
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