Office/Industrial/Retail and Apartment Markets

Office Market

Fourth 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 55,949,634 21,313,453 4,501,629 8,810,313 4,061,276 3,764,264 1,829,756 2,328,307 519,537
Office Market Vacant Space 9,500,633 3,217,076 549,189 1,522,018 507,160 588,545 339,635 176,366 83,352
Office Market Occupied Space 46,449,001 18,096,377 3,952,440 7,288,295 3,554,116 3,175,719 1,490,121 2,151,941 436,185
Office Market Vacancy Rate 17.0% 15.1% 12.2% 17.3% 12.5% 15.6% 18.6% 7.6% 16.0%
Office Market Completions 0 0 0 0 0 0 0 0 0
Office Market Net Absorption 101,290 91,044 650 49,959 21,433 -10,093 21,938 6,784 1,023
Office Market Avg. Asking Rents PSF $2.00 $2.02 $2.15 $1.86 $2.30 $2.11 $2.00 $2.30 $2.23
Office Market Under Construction Space 244,136 36,599 32,099 0 20,732 15,867 0 0 0
Office Market Planned Space 2,957,872 1,062,464 930,354 0 0 430,354 0 508,010 124,100