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COMMERCIAL

MARKET
MONITOR

Las Vegas Market Area

Office Market Snapshot	Q4 2021	Q3 2021	Q4 2020
Office Inventory (SF)	56,481,748	56,481,748	56,313,748
Under Construction (SF)	1,172,123	1,172,123	643,184
Vacancy Rate	16.0%	16.3%	16.1%
Pricing (PSF)	$2.12	$2.11	$2.07
Net Absorption (SF)	147,680	83,546	-260,643
Completions (SF)	0	18,000	20,000

Industrial Market Snapshot	Q4 2021	Q3 2021	Q4 2020
Industrial Inventory (SF)	144,546,136	143,463,055	137,796,331
Under Construction (SF)	10,640,397	9,629,260	9,209,702
Vacancy Rate	4.9%	5.4%	7.6%
Pricing (PSF)	$0.73	$0.71	$0.67
Net Absorption (SF)	1,730,479	3,316,892	1,609,416
Completions (SF)	1,083,081	2,343,881	3,210,611

Retail Market Snapshot	Q4 2021	Q3 2021	Q4 2020
Retail Inventory (SF)	55,296,202	55,240,928	55,082,596
Under Construction (SF)	298,653	237,427	258,376
Direct Vacancy Rate	6.8%	7.0%	7.3%
Total Vacancy Rate	8.1%	8.5%	8.5%
Pricing (PSF)	$1.79	$1.79	$1.79
Net Absorption (SF)	162,453	93,526	42,233
Completions (SF)	55,274	0	136,047

Las Vegas Area Direct Vacancy Rates

Office
Industrial
Retail

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