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COMMERCIAL

MARKET
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Las Vegas Market Area

Office Market Snapshot	Q4 2022	Q3 2022	Q4 2021
Office Inventory (SF)	57,098,502	56,663,889	56,404,889
Under Construction (SF)	1,264,203	1,378,026	1,106,123
Vacancy Rate	15.5%	15.2%	15.9%
Pricing (PSF)	$2.24	$2.19	$2.12
Net Absorption (SF)	197,454	113,184	145,672
Completions (SF)	434,613	0	0

Industrial Market Snapshot	Q4 2022	Q3 2022	Q4 2021
Industrial Inventory (SF)	151,061,921	149,526,945	144,667,363
Under Construction (SF)	15,554,061	15,640,711	8,155,476
Vacancy Rate	3.9%	3.7%	4.6%
Pricing (PSF)	$0.81	$0.79	$0.74
Net Absorption (SF)	1,156,590	1,682,972	1,675,669
Completions (SF)	1,534,976	1,441,463	1,044,281

Retail Market Snapshot	Q4 2022	Q3 2022	Q4 2021
Retail Inventory (SF)	55,475,923	55,433,785	55,296,402
Under Construction (SF)	447,389	379,757	179,521
Direct Vacancy Rate	6.2%	6.3%	6.8%
Total Vacancy Rate	6.7%	7.0%	8.1%
Pricing (PSF)	$1.84	$1.82	$1.79
Net Absorption (SF)	98,290	120,927	160,700
Completions (SF)	42,138	0	55,274

Las Vegas Area Direct Vacancy Rates

Office
Industrial
Retail

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