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COMMERCIAL

MARKET
MONITOR

Las Vegas Market Area

Office Market Snapshot	Q4 2019	Q3 2019	Q4 2018
Office Inventory (SF)	56,214,080	56,214,080	55,941,508
Under Construction (SF)	342,949	342,949	227,904
Vacancy Rate	14.5%	15.0%	16.1%
Pricing (PSF)	$2.03	$2.03	$2.01
Net Absorption (SF)	303,880	350,984	141,918
Completions (SF)	0	127,500	0

Industrial Market Snapshot	Q4 2019	Q3 2019	Q4 2018
Industrial Inventory (SF)	131,910,061	131,276,227	125,100,173
Under Construction (SF)	6,591,936	5,421,969	5,805,569
Vacancy Rate	6.9%	7.2%	6.2%
Pricing (PSF)	$0.65	$0.64	$0.65
Net Absorption (SF)	997,750	1,567,942	1,022,936
Completions (SF)	633,834	2,424,773	941,158

Retail Market Snapshot	Q4 2019	Q3 2019	Q4 2018
Retail Inventory (SF)	54,773,229	54,757,413	54,462,590
Under Construction (SF)	403,525	419,341	374,223
Direct Vacancy Rate	7.1%	7.5%	7.8%
Total Vacancy Rate	8.4%	9.0%	9.4%
Pricing (PSF)	$1.76	$1.78	$1.76
Net Absorption (SF)	206,101	143,610	290,348
Completions (SF)	15,816	48,000	286,000

Las Vegas Area Direct Vacancy Rates

Office
Industrial
Retail

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