Office/Industrial/Retail and Apartment Markets

Office Market

Third 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 55,946,589 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 8,407,099 2,867,932 472,569 1,402,690 398,288 524,930 330,259 136,413 75,352
Office Market Occupied Space 47,539,490 18,411,496 4,044,927 7,353,231 3,667,488 3,255,201 1,499,497 2,191,894 444,185
Office Market Vacancy Rate 15.0% 13.5% 10.5% 16.0% 9.8% 13.9% 18.0% 5.9% 14.5%
Office Market Completions 127,500 0 0 0 0 0 0 0 0
Office Market Net Absorption 313,548 83,105 32,169 40,850 -4,614 13,869 12,013 20,987 0
Office Market Avg. Asking Rents PSF $2.03 $2.08 $2.23 $1.88 $2.47 $2.18 $2.17 $2.30 $2.23
Office Market Under Construction Space 374,110 16,232 16,232 0 16,232 0 0 0 0
Office Market Planned Space 2,454,623 264,096 200,000 0 18,986 0 0 208,010 37,100