Office/Industrial/Retail and Apartment Markets

Office Market

Second Quarter 2018
  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 55,593,539 21,339,708 4,537,884 8,810,313 4,061,276 3,800,519 1,819,756 2,328,307 519,537
Office Market Vacant Space 9,950,743 3,511,426 597,495 1,607,764 513,048 661,878 443,117 196,668 88,951
Office Market Occupied Space 45,642,796 17,828,282 3,940,389 7,202,549 3,548,228 3,138,641 1,376,639 2,131,639 430,586
Office Market Vacancy Rate 17.9% 16.5% 13.2% 18.2% 12.6% 17.4% 24.4% 8.4% 17.1%
Office Market Completions 270,000 0 0 0 0 0 0 0 0
Office Market Net Absorption 286,136 -37,768 -41,689 8,413 29,490 -23,674 -15,489 -33,383 -3,125
Office Market Avg. Asking Rents PSF $1.98 $2.02 $2.17 $1.87 $2.28 $2.07 $2.02 $2.33 $2.19
Office Market Under Construction Space 470,650 46,093 46,093 0 0 46,093 0 0 0
Office Market Planned Space 2,447,159 1,062,464 930,354 0 0 430,354 0 508,010 124,100