Office/Industrial/Retail and Apartment Markets

Office Market

First Quarter 2020
  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 56,389,543 21,375,278 4,556,216 8,800,878 4,065,776 3,818,851 1,829,756 2,340,480 519,537
Office Market Vacant Space 8,112,868 2,694,034 414,795 1,322,793 418,001 508,644 296,687 99,926 47,983
Office Market Occupied Space 48,276,675 18,681,244 4,141,421 7,478,085 3,647,775 3,310,207 1,533,069 2,240,554 471,554
Office Market Vacancy Rate 14.4% 12.6% 9.1% 15.0% 10.3% 13.3% 16.2% 4.3% 9.2%
Office Market Completions 179,227 0 0 0 0 0 0 0 0
Office Market Net Absorption 166,700 83,336 -13,313 40,558 5,832 -5,966 20,864 -10,503 32,551
Office Market Avg. Asking Rents PSF $2.05 $2.08 $2.20 $1.88 $2.50 $2.23 $2.14 $1.88 $2.31
Office Market Under Construction Space 349,600 0 0 0 0 0 0 0 0
Office Market Planned Space 2,023,282 26,996 0 0 18,986 0 0 8,010 0