Office/Industrial/Retail and Apartment Markets

Office Market

Second Quarter 2019
  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 55,819,089 21,279,428 4,517,496 8,755,921 4,065,776 3,780,131 1,829,756 2,328,307 519,537
Office Market Vacant Space 8,612,197 2,975,663 504,738 1,468,166 393,674 538,799 342,272 157,400 75,352
Office Market Occupied Space 47,206,892 18,303,765 4,012,758 7,287,755 3,672,102 3,241,332 1,487,484 2,170,907 444,185
Office Market Vacancy Rate 15.4% 14.0% 11.2% 16.8% 9.7% 14.3% 18.7% 6.8% 14.5%
Office Market Completions 124,705 0 0 0 0 0 0 0 0
Office Market Net Absorption 112,680 22,829 5,727 16,381 17,906 -19,206 -16,292 24,040 0
Office Market Avg. Asking Rents PSF $2.02 $2.07 $2.19 $1.89 $2.43 $2.19 $2.15 $2.18 $2.25
Office Market Under Construction Space 446,614 16,232 16,232 0 16,232 0 0 0 0
Office Market Planned Space 2,438,019 264,096 200,000 0 18,986 0 0 208,010 37,100