City of Las Vegas
Community Dashboard
Office/Industrial/Retail and Apartment Markets
Office MarketThird Quarter 2022 | |||||||||
---|---|---|---|---|---|---|---|---|---|
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 | 57,098,502 | 21,066,798 | 4,475,070 | 8,807,144 | 3,830,694 | 3,737,705 | 1,831,238 | 2,340,480 | 519,537 |
Office Market Vacant Space | 8,832,665 | 3,018,976 | 563,881 | 1,351,134 | 476,500 | 611,124 | 403,986 | 142,375 | 33,857 |
Office Market Occupied Space | 48,265,837 | 18,047,822 | 3,911,189 | 7,456,010 | 3,354,194 | 3,126,581 | 1,427,252 | 2,198,105 | 485,680 |
Office Market Vacancy Rate | 15.5% | 14.3% | 12.6% | 15.3% | 12.4% | 16.4% | 22.1% | 6.1% | 6.5% |
Office Market Completions | 434,613 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Office Market Net Absorption | 197,454 | 84,634 | 3,791 | 71,345 | 13,550 | 14,169 | 6,283 | -15,213 | -5,500 |
Office Market Avg. Asking Rents PSF | $2.24 | $2.16 | $1.97 | $2.00 | $2.57 | $2.09 | $2.29 | $2.09 | $2.53 |
Office Market Under Construction Space | 1,264,203 | 70,000 | 0 | 0 | 70,000 | 0 | 0 | 0 | 0 |
Office Market Planned Space | 2,940,743 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |