Reno, the Next Hotspot for Retail Development

Alex Zikakis

Capstone Advisors has identified the Reno market in Nevada has a target for new retail construction. Like nearby Las Vegas, Reno has also experience economic and population growth, and now has a pent-up demand for retail and services. Capstone has already broken ground on the first retail building on an undeveloped parcel of Sky Vista, but it could be the beginning of several projects for the San Diego-based developer.

“Reno has a tremendous amount of positive momentum. It was the No. 1-ranked city for job growth in 2018 and number 2-ranked market for companies relocating from California in 2017,” Alex Zikakis, founder and president of Capstone Advisors, tells GlobeSt.com. “The state has a very attractive tax structure and a business-friendly environment. Additionally, Reno’s North Valley, where our project is located, has over 4,500 new housing units under construction, another 3,700 units that have been approved, and another 17,000 units pending approval. There is a lot of growth happening, and the potential for even more growth to happen in this market.”