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COMMERCIAL

MARKET
MONITOR

Las Vegas Market Area

Office Market Snapshot	Q3 2018	Q2 2018	Q3 2017
Office Inventory (SF)	55,941,509	55,601,952	55,045,111
Under Construction (SF)	256,136	444,924	785,621
Vacancy Rate	17.7%	17.8%	18.5%
Pricing (PSF)	$2.00	$1.99	$1.95
Net Absorption (SF)	323,052	339,616	419,044
Completions (SF)	339,557	270,000	116,971

Industrial Market Snapshot	Q3 2018	Q2 2018	Q3 2017
Industrial Inventory (SF)	124,325,171	123,340,533	120,553,515
Under Construction (SF)	5,832,091	4,534,706	3,929,788
Vacancy Rate	6.7%	6.7%	8.0%
Pricing (PSF)	$0.63	$0.63	$0.61
Net Absorption (SF)	943,493	1,961,818	1,209,780
Completions (SF)	984,638	584,881	2,388,277

Retail Market Snapshot	Q3 2018	Q2 2018	Q3 2017
Retail Inventory (SF)	54,162,762	54,059,362	53,649,612
Under Construction (SF)	582,869	686,269	499,750
Direct Vacancy Rate	7.4%	7.8%	8.2%
Total Vacancy Rate	9.0%	9.5%	9.8%
Pricing (PSF)	$1.74	$1.69	$1.64
Net Absorption (SF)	333,076	87,326	21,152
Completions (SF)	103,400	125,000	0

Las Vegas Area Direct Vacancy Rates

Office
Industrial
Retail

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