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COMMERCIAL

MARKET
MONITOR

Las Vegas Market Area

Office Market Snapshot	Q1 2020	Q4 2019	Q1 2019
Office Inventory (SF)	56,389,543	56,210,316	55,958,111
Under Construction (SF)	349,600	343,827	414,537
Vacancy Rate	14.4%	14.4%	15.5%
Pricing (PSF)	$2.05	$2.03	$2.02
Net Absorption (SF)	166,700	312,353	374,369
Completions (SF)	179,227	0	20,367

Industrial Market Snapshot	Q1 2020	Q4 2019	Q1 2019
Industrial Inventory (SF)	133,304,299	131,878,107	126,133,240
Under Construction (SF)	6,482,693	6,588,791	6,474,479
Vacancy Rate	7.1%	6.9%	5.9%
Pricing (PSF)	$0.67	$0.65	$0.67
Net Absorption (SF)	957,384	997,750	1,357,142
Completions (SF)	1,426,192	633,834	1,065,067

Retail Market Snapshot	Q1 2020	Q4 2019	Q1 2019
Retail Inventory (SF)	54,773,229	54,773,229	54,677,590
Under Construction (SF)	560,525	403,525	391,764
Direct Vacancy Rate	6.8%	7.0%	7.7%
Total Vacancy Rate	8.1%	8.3%	9.2%
Pricing (PSF)	$1.76	$1.77	$1.75
Net Absorption (SF)	113,256	219,070	251,804
Completions (SF)	0	15,816	215,000

Las Vegas Area Direct Vacancy Rates

Office
Industrial
Retail

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