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COMMERCIAL

MARKET
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Las Vegas Market Area

Office Market Snapshot	Q2 2022	Q1 2022	Q2 2021
Office Inventory (SF)	56,740,748	56,561,748	56,463,748
Under Construction (SF)	1,142,123	976,123	695,724
Vacancy Rate	15.4%	15.6%	16.4%
Pricing (PSF)	$2.17	$2.13	$2.10
Net Absorption (SF)	251,907	335,680	-79,454
Completions (SF)	179,000	80,000	0

Industrial Market Snapshot	Q2 2022	Q1 2022	Q2 2021
Industrial Inventory (SF)	147,935,082	147,126,340	141,128,801
Under Construction (SF)	11,437,675	10,373,096	8,082,037
Vacancy Rate	4.4%	4.6%	6.2%
Pricing (PSF)	$0.76	$0.75	$0.66
Net Absorption (SF)	1,068,797	3,087,673	2,934,106
Completions (SF)	808,742	2,609,377	2,639,646

Retail Market Snapshot	Q2 2022	Q1 2022	Q2 2021
Retail Inventory (SF)	55,433,785	55,425,515	55,241,128
Under Construction (SF)	139,900	124,770	184,387
Direct Vacancy Rate	6.4%	6.5%	7.2%
Total Vacancy Rate		7.5%	8.6%
Pricing (PSF)	$1.79	$1.82	$1.80
Net Absorption (SF)	44,678	321,019	195,694
Completions (SF)	8,270	129,113	64,275

Las Vegas Area Direct Vacancy Rates

Office
Industrial
Retail

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