Office/Industrial/Retail and Apartment Markets

Office Market

Fourth 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 56,214,080 21,379,042 4,559,980 8,800,878 4,065,776 3,822,615 1,829,756 2,340,480 519,537
Office Market Vacant Space 8,149,774 2,807,391 456,740 1,360,718 401,229 557,936 317,551 89,423 80,534
Office Market Occupied Space 48,064,306 18,571,651 4,103,240 7,440,160 3,664,547 3,264,679 1,512,205 2,251,057 439,003
Office Market Vacancy Rate 14.5% 13.1% 10.0% 15.5% 9.9% 14.6% 17.4% 3.8% 15.5%
Office Market Completions 0 0 0 0 0 0 0 0 0
Office Market Net Absorption 303,880 67,298 35,984 20,048 3,231 -12,851 14,096 47,956 -5,182
Office Market Avg. Asking Rents PSF $2.03 $2.08 $2.20 $1.88 $2.50 $2.23 $2.14 $1.88 $2.31
Office Market Under Construction Space 342,949 0 0 0 0 0 0 0 0
Office Market Planned Space 2,384,282 226,996 200,000 0 18,986 0 0 208,010 0