Home > Research > U.S. Market Reports Detail

U.S. Market Reports

Las Vegas Market Reports

Las Vegas Office Market

Average Asking Rent (Price/SF) $1.72
Vacancy Rate (%) 17.2%
Net Absorption (SF) 241,576

The majority of projects that have been completed or are due to come online were the result of owner-occupied buildings, such as the 180,000-square-foot UFC Headquarters at 6650 North Torrey Pines Drive, or other office developments being geared towards healthcare. Regarding office-only, an additional 159,051 square feet was added to the competitive inventory, boosted by markets with prime medical office space in the Henderson, Northwest and West submarkets. The South and Southwest submarkets lead the way in construction with 124,900 square-feet of the 139,605 square feet currently under construction located in those two submarkets alone.

Las Vegas Industrial Market

Average Asking Rent (Price/SF) $0.58
Vacancy Rate (%) 7.1%
Net Absorption (SF) 556,148

Most new construction delivered in the second quarter of 2017 consisted of warehouse and distribution centers in the Henderson and North Las Vegas submarkets. These facilities added nearly 400,000 square-feet to the industrial sector, although several buildings that were built on a speculative basis currently sit vacant. Fanatics is in the process of hiring 200 employees for its 400,000-square-foot location at 4490 Nexus Way, which opened in June. The Valley's largest speculative delivery was located at Henderson Freeways Crossing, combining for 239,010 square-feet at 8375 and 8395 Eastgate Road in the Southeast submarket. Equally active areas were North Las Vegas where the 91,200-square-foot Copper Sage Commerce Center located at 4588 East Craig Road is fully leased to Jones Fiber and JKM Trading; the Airport submarket, which added Sunset Landing, a 27,000-square-foot building that currently sits vacant at 2800 East Sunset Road; and the Southwest, where an additional 22,500 square feet was delivered at Sunset 215 West at 6605 West Sunset Road and fully leased to Laird Plastics Inc. Under construction activity totaled 3.3 million square feet in the second quarter, down only slightly from the 3.6 million square-feet under construction in the first quarter.



Las Vegas Office Market Report
2Q17
Download the PDF
Las Vegas Industrial Market Report
2Q17
Download the PDF

Local Market Contact:

General Research Inquiries: