Office/Industrial/Retail and Apartment Markets

Office Market

Third Quarter 2021
  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 56,561,748 21,139,405 4,550,070 8,807,144 3,829,783 3,812,705 1,829,756 2,340,480 519,537
Office Market Vacant Space 8,793,785 3,063,813 512,522 1,463,377 452,073 580,857 413,066 120,411 34,029
Office Market Occupied Space 47,767,963 18,075,592 4,037,548 7,343,767 3,377,710 3,231,848 1,416,690 2,220,069 485,508
Office Market Vacancy Rate 15.5% 14.5% 11.3% 16.6% 11.8% 15.2% 22.6% 5.1% 6.5%
Office Market Completions 80,000 0 0 0 0 0 0 0 0
Office Market Net Absorption 329,046 44,956 -5,458 52,398 -36,418 12,104 4,499 4,298 8,075
Office Market Avg. Asking Rents PSF $2.13 $2.04 $1.98 $1.95 $2.15 $2.06 $1.86 $2.03 $2.34
Office Market Under Construction Space 1,092,123 0 0 0 0 0 0 0 0
Office Market Planned Space 2,104,818 18,986 0 0 18,986 0 0 0 0