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 56,663,889 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 8,639,523 3,018,976 563,881 1,351,134 476,500 611,124 403,986 142,375 33,857
Office Market Occupied Space 48,024,366 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 15.2% 14.3% 12.6% 15.3% 12.4% 16.4% 22.1% 6.1% 6.5%
Office Market Completions 0 0 0 0 0 0 0 0 0
Office Market Net Absorption 166,284 84,634 3,791 71,345 13,550 14,169 6,283 -15,213 -5,500
Office Market Avg. Asking Rents PSF $2.19 $2.16 $1.97 $2.00 $2.57 $2.09 $2.29 $2.09 $2.53
Office Market Under Construction Space 1,394,951 70,000 0 0 70,000 0 0 0 0
Office Market Planned Space 1,796,818 0 0 0 0 0 0 0 0