Office/Industrial/Retail and Apartment Markets

Office Market

Third 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 55,941,509 21,339,708 4,537,884 8,810,313 4,061,276 3,800,519 1,819,756 2,328,307 519,537
Office Market Vacant Space 9,905,503 3,415,416 566,818 1,628,428 527,543 613,431 366,573 195,066 84,375
Office Market Occupied Space 46,036,006 17,924,292 3,971,066 7,181,885 3,533,733 3,187,088 1,453,183 2,133,241 435,162
Office Market Vacancy Rate 17.7% 16.0% 12.5% 18.5% 13.0% 16.1% 20.1% 8.4% 16.2%
Office Market Completions 339,557 0 0 0 0 0 0 0 0
Office Market Net Absorption 323,052 80,054 30,677 14,290 -14,495 48,447 25,634 1,602 4,576
Office Market Avg. Asking Rents PSF $2.00 $2.04 $2.18 $1.87 $2.28 $2.07 $2.02 $2.33 $2.19
Office Market Under Construction Space 256,136 36,599 32,099 0 20,732 15,867 0 0 0
Office Market Planned Space 2,324,272 1,062,464 930,354 0 0 430,354 0 508,010 124,100