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COMMERCIAL
MARKET
MONITOR
Las Vegas Market Area
| Office Market Snapshot | Q1 2025 | Q4 2024 | Q1 2024 |
|---|---|---|---|
| Office Inventory (SF) | 57,700,960 | ||
| Under Construction (SF) | 870,500 | ||
| Vacancy Rate | 12.2% | 12.8% | 11.8% |
| Pricing (PSF) | $2.65 | $2.63 | $2.64 |
| Net Absorption (SF) | -39,343 | ||
| Completions (SF) | 147,000 |
| Industrial Market Snapshot | Q1 2025 | Q4 2024 | Q1 2024 |
|---|---|---|---|
| Industrial Inventory (SF) | 163,819,342 | ||
| Under Construction (SF) | 14,778,319 | ||
| Vacancy Rate | 9.5% | 9.1% | 4.7% |
| Pricing (PSF) | $1.10 | $1.11 | $1.05 |
| Net Absorption (SF) | 2,839,644 | ||
| Completions (SF) | 5,037,323 |
| Retail Market Snapshot | Q1 2025 | Q4 2024 | Q1 2024 |
|---|---|---|---|
| Retail Inventory (SF) | 55,691,342 | ||
| Under Construction (SF) | 496,970 | ||
| Direct Vacancy Rate | 4.6% | 4.6% | |
| Total Vacancy Rate | 0.0% | ||
| Pricing (PSF) | $2.04 | $2.08 | |
| Net Absorption (SF) | 102,827 | ||
| Completions (SF) | 37,700 |
Las Vegas Area Direct Vacancy Rates
- Office
- Industrial
- Retail
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Applied Analysis Las Vegas Market Reports are published quarterly and include in-depth information on the market, including a summary matrix outlining performance at the submarket level.
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Note: Directional arrows reflect comparisons to the prior year.
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myResearcher.comOFFICE MARKET
Q4 '23ECONOMIC TRENDS
0.8%
-2.7%
12.0%
OFFICE-USING EMPLOYMENT
OCCUPIED SPACE PER EMPLOYEE
S&P 500 ADJ. CLOSING PRICE
REAL ESTATE MARKET TRENDS
Q4 '22
Q4 '23
15.5%
14.1%
16.4%
16.1%
15.2%
14.5%
MEDICAL VACANCY RATE
PROFESSIONAL VACANCY RATE
CLASS B VACANCY RATE
Millions
Inventory (in SF) and Vacancy Rate
Millions
Supply vs. Demand Trailing 12-Month Total (in SF)
- Completions
- Absorption
Millions
Vacant Inventory (in SF) and Average
Asking Rate
Asking Rate
Millions
Planned and Under Construction (in SF)
- Planned
- Under Construction
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myResearcher.comINDUSTRIAL MARKET
Q1 '25ECONOMIC TRENDS
-1.4%
17.7%
-100.0%
INDUSTRIAL-USING EMPLOYMENT
MANUFACTURING TAXABLE SALES
INDUSTRIAL PRODUCTION INDEX
REAL ESTATE MARKET TRENDS
Q1 '24
Q1 '25
$1.05
$1.10
DISTRIBUTION VACANCY RATE
MANUFACTURING VACANCY RATE
AVERAGE ASKING RATE
Millions
Inventory (in SF) and Vacancy Rate
Millions
Supply vs. Demand Trailing 12-Month Total (in SF)
- Completions
- Absorption
Millions
Vacant Inventory (in SF) and Average
Asking Rate
Asking Rate
Millions
Planned and Under Construction (in SF)
- Planned
- Under Construction
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myResearcher.comRETAIL MARKET
Q1 '25ECONOMIC TRENDS
-0.5%
-1.3%
-1.3%
RETAIL-USING EMPLOYMENT
TAXABLE RETAIL SALES
DISPOSABLE INCOME
REAL ESTATE MARKET TRENDS
Q1 '24
Q1 '25
$2.08
$2.04
POWER CENTER VACANCY RATE
NEIGHBORHOOD VACANCY RATE
AVERAGE ASKING RATE
Millions
Inventory (in SF) and Vacancy Rate
Millions
Supply vs. Demand Trailing 12-Month Total (in SF)
- Completions
- Absorption
Millions
Vacant Inventory (in SF) and Average
Asking Rate
Asking Rate
Millions
Planned and Under Construction (in SF)
- Planned
- Under Construction
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