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COMMERCIAL

MARKET
MONITOR

Las Vegas Market Area

Office Market Snapshot	Q4 2020	Q3 2020	Q4 2019
Office Inventory (SF)	56,533,148	56,513,148	56,163,921
Under Construction (SF)	652,784	672,784	343,827
Vacancy Rate	16.3%	15.8%	14.4%
Pricing (PSF)	$2.06	$2.05	$2.03
Net Absorption (SF)	-261,711	-549,252	316,496
Completions (SF)	20,000	35,000	0

Industrial Market Snapshot	Q4 2020	Q3 2020	Q4 2019
Industrial Inventory (SF)	137,695,027	134,484,366	131,878,107
Under Construction (SF)	7,967,482	6,277,374	6,626,837
Vacancy Rate	7.3%	6.4%	6.7%
Pricing (PSF)	$0.67	$0.68	$0.66
Net Absorption (SF)	1,760,551	1,081,043	997,750
Completions (SF)	3,210,661	1,126,167	633,834

Retail Market Snapshot	Q4 2020	Q3 2020	Q4 2019
Retail Inventory (SF)	55,046,401	54,910,354	54,773,229
Under Construction (SF)	426,954	295,301	354,381
Direct Vacancy Rate	7.2%	7.1%	7.0%
Total Vacancy Rate	8.4%	8.3%	8.4%
Pricing (PSF)	$1.78	$1.79	$1.78
Net Absorption (SF)	74,845	-102,850	233,118
Completions (SF)	136,047	40,000	15,816

Las Vegas Area Direct Vacancy Rates

Office
Industrial
Retail

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