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
GET ALL THE FACTS

Applied Analysis Las Vegas Market Reports are published quarterly and include in-depth information on the market, including a summary matrix outlining performance at the submarket level.

Subscribe now to begin receiving the most comprehensive reports available on the Las Vegas Commercial Markets: Office, Industrial, Retail and Vacant Land.

www.appliedanalysis.com/monitor

 

OFFICE MARKET

Q3 '20

ECONOMIC TRENDS

-6.9%

11.0%

16.3%

OFFICE-USING EMPLOYMENT
OCCUPIED SPACE PER EMPLOYEE
S&P 500 ADJ. CLOSING PRICE

REAL ESTATE MARKET TRENDS

Q3 '19
Q3 '20

16.2%

16.0%

15.9%

17.0%

15.0%

15.6%

MEDICAL VACANCY RATE
PROFESSIONAL VACANCY RATE
CLASS B VACANCY RATE
Millions
Inventory (in SF) and Vacancy Rate
Millions
Supply vs. Demand Trailing 12-Month Total (in SF)
  • Completions
  • Absorption
Millions
Vacant Inventory (in SF) and Average
Asking Rate
Millions
Planned and Under Construction (in SF)
  • Planned
  • Under Construction
 

INDUSTRIAL MARKET

Q3 '20

ECONOMIC TRENDS

-4.3%

-3.6%

-13.7%

INDUSTRIAL-USING EMPLOYMENT
MANUFACTURING TAXABLE SALES
NEW COMMERCIAL BUILDINGS PERMITTED

REAL ESTATE MARKET TRENDS

Q3 '19
Q3 '20

7.4%

6.7%

5.5%

5.9%

$0.64

$0.67

DISTRIBUTION VACANCY RATE
MANUFACTURING VACANCY RATE
AVERAGE ASKING RATE
Millions
Inventory (in SF) and Vacancy Rate
Millions
Supply vs. Demand Trailing 12-Month Total (in SF)
  • Completions
  • Absorption
Millions
Vacant Inventory (in SF) and Average
Asking Rate
Millions
Planned and Under Construction (in SF)
  • Planned
  • Under Construction
 

RETAIL MARKET

Q3 '20

ECONOMIC TRENDS

-10.2%

-9.6%

3.2%

RETAIL-USING EMPLOYMENT
TAXABLE RETAIL SALES
DISPOSABLE INCOME

REAL ESTATE MARKET TRENDS

Q3 '19
Q3 '20

7.4%

6.3%

8.3%

8.4%

$1.79

$1.79

POWER CENTER VACANCY RATE
NEIGHBORHOOD VACANCY RATE
AVERAGE ASKING RATE
Millions
Inventory (in SF) and Vacancy Rate
Millions
Supply vs. Demand Trailing 12-Month Total (in SF)
  • Completions
  • Absorption
Millions
Vacant Inventory (in SF) and Average
Asking Rate
Millions
Planned and Under Construction (in SF)
  • Planned
  • Under Construction