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COMMERCIAL

MARKET
MONITOR

Las Vegas Market Area

Office Market Snapshot	Q3 2020	Q2 2020	Q3 2019
Office Inventory (SF)	56,504,141	56,469,141	56,154,914
Under Construction (SF)	1,017,784	552,784	343,827
Vacancy Rate	15.8%	14.8%	15.0%
Pricing (PSF)	$2.05	$2.05	$2.03
Net Absorption (SF)	-549,252	-80,749	349,082
Completions (SF)	35,000	135,000	127,500

Industrial Market Snapshot	Q3 2020	Q2 2020	Q3 2019
Industrial Inventory (SF)	134,484,366	133,358,199	131,244,273
Under Construction (SF)	6,222,448	6,906,880	5,409,944
Vacancy Rate	6.6%	6.6%	7.1%
Pricing (PSF)	$0.67	$0.67	$0.64
Net Absorption (SF)	1,011,836	708,581	1,567,942
Completions (SF)	1,126,167	53,900	2,424,773

Retail Market Snapshot	Q3 2020	Q2 2020	Q3 2019
Retail Inventory (SF)	54,910,354	54,870,354	54,757,413
Under Construction (SF)	293,492	300,217	368,388
Direct Vacancy Rate	7.0%	6.8%	7.4%
Total Vacancy Rate	8.2%	8.1%	8.9%
Pricing (PSF)	$1.79	$1.78	$1.79
Net Absorption (SF)	-100,898	105,385	143,590
Completions (SF)	40,000	97,125	48,000

Las Vegas Area Direct Vacancy Rates

Office
Industrial
Retail

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