City of Las Vegas

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Office/Industrial/Retail and Apartment Markets

Office Market Third 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

Industrial Market Third Quarter 2022
				City Wards
	Las Vegas Valley	City of Las Vegas	Downtown Redevelopment Area	Ward 1	Ward 2	Ward 3	Ward 4	Ward 5	Ward 6
Industrial Market Inventory	151,061,921	8,997,169	1,286,009	4,265,788	54,000	3,393,595	0	1,283,786	0
Industrial Market Vacant Space	5,844,420	419,055	154,229	96,106	0	208,676	0	114,273	0
Industrial Market Occupied Space	145,217,501	8,578,114	1,131,780	4,169,682	54,000	3,184,919	0	1,169,513	0
Industrial Market Vacancy Rate	3.9%	4.7%	12.0%	2.3%	0.0%	6.1%	0.0%	8.9%	0.0%
Industrial Market Completions	1,534,976	0	0	0	0	0	0	0	0
Industrial Market Net Absorption	1,156,590	-7,643	0	-3,432	0	-5,050	0	839	0
Industrial Market Avg. Asking Rents PSF	$0.81	$0.73	$0.61	$0.81	$0.00	$0.76	$0.00	$0.61	$0.00
Industrial Market Under Construction Space	n.a.	n.a.	0	0	0	0	0	0	0
Industrial Market Planned Space	8,365,169	0	0	0	0	0	0	0	0

Retail Market Third Quarter 2022
				City Wards
	Las Vegas Valley	City of Las Vegas	Downtown Redevelopment Area	Ward 1	Ward 2	Ward 3	Ward 4	Ward 5	Ward 6
Retail Market Inventory	55,475,923	17,357,742	666,010	4,382,181	3,621,871	1,767,447	1,718,364	2,359,470	3,508,409
Retail Market Vacant Space	3,423,479	953,188	62,580	371,836	150,939	98,953	38,794	203,719	88,947
Retail Market Occupied Space	52,052,444	16,404,554	603,430	4,010,345	3,470,932	1,668,494	1,679,570	2,155,751	3,419,462
Retail Market Vacancy Rate	6.2%	5.5%	9.4%	8.5%	4.2%	5.6%	2.3%	8.6%	2.5%
Retail Market Completions	42,138	0	0	0	0	0	0	0	0
Retail Market Net Absorption	98,290	50,837	0	5,708	2,772	2,400	5,520	36,995	-2,558
Retail Market Avg. Asking Rents PSF	$1.84	$1.89	$1.56	$1.64	$3.40	$1.43	$1.87	$1.32	$2.31
Retail Market Under Construction Space	447,389	0	0	0	0	0	0	0	0
Retail Market Planned Space	1,248,797	137,500	80,000	0	0	0	0	80,000	57,500

Apartment Market Fourth Quarter 2021
				City Wards
	Las Vegas Valley	City of Las Vegas	Downtown Redevelopment Area	Ward 1	Ward 2	Ward 3	Ward 4	Ward 5	Ward 6
Average Apartment Rental Rates	$1,454.86	$1,419.69	$1,207.83	$1,344.48	$1,756.17	$1,093.33	$1,640.03	$1,234.18	$1,604.11
Total Apartment Vacancy Rates	2.7%	2.6%	2.1%	2.8%	2.3%	2.9%	2.4%	2.3%	3.1%
Total Apartment Inventory	138,436	38,021	3,651	9,613	6,840	5,278	3,386	8,061	4,843