Office/Industrial/Retail and Apartment Markets

Office Market

Fourth Quarter 2016
  City Wards
Industrial Structure Las Vegas
Valley
City of
Las Vegas
Downtown
Redevelopment Area
Ward 1 Ward 2 Ward 3 Ward 4 Ward 5 Ward 6
Office Market Inventory 55,018,477 21,435,417 4,630,392 8,898,290 4,020,545 3,893,027 1,819,756 2,284,262 519,537
Office Market Vacant Space 10,397,746 3,637,556 587,102 1,727,883 457,465 658,304 494,154 164,426 135,324
Office Market Occupied Space 44,620,731 17,797,861 4,043,290 7,170,407 3,563,080 3,234,723 1,325,602 2,119,836 384,213
Office Market Vacancy Rate 18.9% 17.0% 12.7% 19.4% 11.4% 16.9% 27.2% 7.2% 26.0%
Office Market Completions 116,971 0 0 0 0 0 0 0 0
Office Market Net Absorption 386,043 101,777 -1,236 70,859 -9,649 5,562 16,438 18,817 -250
Office Market Avg. Asking Rents PSF $1.95 $1.97 $2.10 $1.81 $2.33 $2.02 $1.99 $2.29 $2.18
Office Market Under Construction Space 800,847 52,013 30,226 15,615 6,172 30,226 0 0 0
Office Market Planned Space 1,655,004 438,364 430,354 0 0 430,354 0 8,010 0