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COMMERCIAL

MARKET
MONITOR

Las Vegas Market Area

Office Market Snapshot	Q4 2018	Q3 2018	Q4 2017
Office Inventory (SF)	55,949,634	55,949,634	55,277,713
Under Construction (SF)	244,136	196,136	708,849
Vacancy Rate	17.0%	17.2%	17.9%
Pricing (PSF)	$2.00	$2.01	$1.95
Net Absorption (SF)	101,290	381,544	327,537
Completions (SF)	0	339,557	224,477

Industrial Market Snapshot	Q4 2018	Q3 2018	Q4 2017
Industrial Inventory (SF)	125,261,027	124,319,869	121,465,587
Under Construction (SF)	6,668,519	5,835,531	4,013,248
Vacancy Rate	6.9%	6.8%	7.5%
Pricing (PSF)	$0.64	$0.66	$0.62
Net Absorption (SF)	810,183	782,773	1,389,703
Completions (SF)	941,158	984,638	917,374

Retail Market Snapshot	Q4 2018	Q3 2018	Q4 2017
Retail Inventory (SF)	54,448,762	54,162,762	53,934,362
Under Construction (SF)	705,869	576,769	383,946
Direct Vacancy Rate	7.6%	7.7%	7.9%
Total Vacancy Rate	9.1%	9.3%	9.6%
Pricing (PSF)	$1.76	$1.74	$1.67
Net Absorption (SF)	316,148	321,141	412,294
Completions (SF)	286,000	103,400	284,750

Las Vegas Area Direct Vacancy Rates

Office
Industrial
Retail

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