Office/Industrial/Retail and Apartment Markets

Office Market

First 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 55,944,277 21,333,820 4,517,496 8,810,313 4,065,776 3,780,131 1,829,756 2,328,307 519,537
Office Market Vacant Space 8,941,993 3,080,509 515,465 1,502,064 417,638 541,458 354,557 181,440 83,352
Office Market Occupied Space 47,002,284 18,253,311 4,002,031 7,308,249 3,648,138 3,238,673 1,475,199 2,146,867 436,185
Office Market Vacancy Rate 16.0% 14.4% 11.4% 17.0% 10.3% 14.3% 19.4% 7.8% 16.0%
Office Market Completions 20,367 20,367 0 15,867 0 4,500 15,867 0 0
Office Market Net Absorption 366,510 156,662 5,460 50,798 94,022 18,823 -1,907 -5,074 0
Office Market Avg. Asking Rents PSF $2.01 $2.06 $2.22 $1.87 $2.42 $2.18 $2.11 $2.27 $2.23
Office Market Under Construction Space 431,769 16,232 16,232 0 16,232 0 0 0 0
Office Market Planned Space 1,748,363 45,110 0 0 0 0 0 8,010 37,100