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COMMERCIAL

MARKET
MONITOR

Las Vegas Market Area

Office Market Snapshot	Q3 2019	Q2 2019	Q3 2018
Office Inventory (SF)	55,946,589	55,819,089	55,674,017
Under Construction (SF)	374,110	446,614	196,136
Vacancy Rate	15.0%	15.4%	16.3%
Pricing (PSF)	$2.03	$2.03	$2.02
Net Absorption (SF)	313,548	106,980	358,052
Completions (SF)	127,500	124,705	339,557

Industrial Market Snapshot	Q3 2019	Q2 2019	Q3 2018
Industrial Inventory (SF)	131,276,227	128,851,454	124,159,015
Under Construction (SF)	5,421,969	5,232,043	5,951,466
Vacancy Rate	7.2%	6.6%	6.3%
Pricing (PSF)	$0.64	$0.65	$0.63
Net Absorption (SF)	1,567,942	1,640,939	938,276
Completions (SF)	2,424,773	2,686,214	984,638

Retail Market Snapshot	Q3 2019	Q2 2019	Q3 2018
Retail Inventory (SF)	54,746,661	54,698,661	54,165,838
Under Construction (SF)	462,467	364,467	565,823
Direct Vacancy Rate	7.5%	7.7%	7.9%
Total Vacancy Rate	9.0%	9.2%	9.5%
Pricing (PSF)	$1.78	$1.76	$1.73
Net Absorption (SF)	155,206	66,786	223,565
Completions (SF)	48,000	31,823	103,400

Las Vegas Area Direct Vacancy Rates

Office
Industrial
Retail

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