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COMMERCIAL

MARKET
MONITOR

Las Vegas Market Area

Office Market Snapshot	Q2 2020	Q1 2020	Q2 2019
Office Inventory (SF)	56,460,543	56,325,543	56,018,816
Under Construction (SF)	552,784	349,600	415,453
Vacancy Rate	14.8%	14.4%	15.4%
Pricing (PSF)	$2.05	$2.05	$2.02
Net Absorption (SF)	-95,424	148,235	135,828
Completions (SF)	135,000	179,227	124,705

Industrial Market Snapshot	Q2 2020	Q1 2020	Q2 2019
Industrial Inventory (SF)	133,358,199	133,304,299	128,819,500
Under Construction (SF)	6,923,348	6,545,257	5,228,680
Vacancy Rate	6.6%	7.1%	6.6%
Pricing (PSF)	$0.67	$0.67	$0.65
Net Absorption (SF)	721,703	968,179	1,640,939
Completions (SF)	53,900	1,426,192	2,686,260

Retail Market Snapshot	Q2 2020	Q1 2020	Q2 2019
Retail Inventory (SF)	54,870,354	54,773,229	54,709,413
Under Construction (SF)	463,400	560,525	359,941
Direct Vacancy Rate	6.9%	6.8%	7.6%
Total Vacancy Rate	8.2%	8.1%	9.1%
Pricing (PSF)	$1.77	$1.77	$1.76
Net Absorption (SF)	43,799	102,909	63,928
Completions (SF)	97,125	0	31,823

Las Vegas Area Direct Vacancy Rates

Office
Industrial
Retail

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