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COMMERCIAL

MARKET
MONITOR

Las Vegas Market Area

Office Market Snapshot	Q1 2021	Q4 2020	Q1 2020
Office Inventory (SF)	56,703,748	56,553,748	56,354,148
Under Construction (SF)	493,184	643,184	349,600
Vacancy Rate	16.5%	16.3%	14.5%
Pricing (PSF)	$2.07	$2.06	$2.05
Net Absorption (SF)	5,705	-256,205	136,398
Completions (SF)	150,000	20,000	179,227

Industrial Market Snapshot	Q1 2021	Q4 2020	Q1 2020
Industrial Inventory (SF)	137,906,941	137,694,977	133,304,299
Under Construction (SF)	11,603,104	8,038,874	6,483,665
Vacancy Rate	6.1%	7.3%	6.9%
Pricing (PSF)	$0.68	$0.67	$0.67
Net Absorption (SF)	1,919,278	1,788,158	1,011,055
Completions (SF)	211,964	3,210,611	1,426,192

Retail Market Snapshot	Q1 2021	Q4 2020	Q1 2020
Retail Inventory (SF)	55,164,870	55,046,401	54,773,229
Under Construction (SF)	340,098	261,954	436,411
Direct Vacancy Rate	7.3%	7.3%	6.8%
Total Vacancy Rate	8.5%	8.4%	8.1%
Pricing (PSF)	$1.79	$1.79	$1.77
Net Absorption (SF)	75,228	36,463	132,909
Completions (SF)	118,469	136,047	0

Las Vegas Area Direct Vacancy Rates

Office
Industrial
Retail

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