Commercial RE Report

Las Vegas In the first of quarter 2008, the Las Vegas Valley’s speculative and non-speculative industrial market saw 2.8 million square feet of new space enter the market. This increased the Valley’s inventory from the previous quarter by 2.8 percent to 102.3 million square feet. Sublease space represents a small but growing portion of the Valley’s industrial market, rising … [Read more...] about Industrial Market Summary: First Quarter 2008

Las Vegas According to the Nevada Department of Employment, Training and Rehabilitation, 101,500 retail jobs were recorded in March 2008 in Clark County, an increase of 3.5 percent, from March 2007. During this 12-month period, the largest contribution came from the General Merchandise & Clothing sector, with 3,000 new jobs added; followed by the Food & Beverage Stores … [Read more...] about Retail Market Summary: 1st Quarter 2008

Las Vegas According to the Nevada Department of Employment, Training and Rehabilitation, 222,300 office-related jobs were recorded in March 2008, a decrease of 3,200 or -1.4 percent, from March 2007. In the first quarter of 2008, the Las Vegas Valley’s speculative office space vacancy rate increased by 1.2 percentage points to 13.4 percent. The Valley’s office inventory … [Read more...] about Office Market Summary: 1st Quarter 2008

Las Vegas According to the Nevada Department of Employment, Training and Rehabilitation, 183,600 industrial-related jobs were recorded in December 2007, a net decrease of 5,300, or 2.8 percent, from December 2006. Construction lost 6,500 jobs, while manufacturing lost 700 jobs. The Las Vegas Valley’s speculative industrial vacancy rate increased to 6.1 percent in the fourth … [Read more...] about Industrial Market Summary: 4th Quarter 2007

Las Vegas The Valley’s office market has weakened significantly since the end of 2006. Net absorption decreased substantially from 904,266 in Q3 to 491,365 in Q4. In addition, after three straight quarters of increasing, the absorption-to-completions decreased considerably to 0.45. 2007’s fourth quarter vacancy rate increased to 12.2 percent from 10.9 percent in the third … [Read more...] about Office Market Summary: 4th Quarter 2007

Las Vegas While the housing depression has led to a decline in retail sales growth in the Las Vegas Valley, an increase in retail employment indicated continued growth for the Valley’s retail market. The Nevada Department of Employment, Training and Rehabilitation recorded 104,900 retail jobs in December 2007. Construction activity was high with 561,800 square feet of new … [Read more...] about Retail Market Summary: 4th Quarter 2007

Las Vegas According to the Nevada Department of Employment, Training and Rehabilitation, 169,800 industrial-related jobs were recorded in September 2007, a net decrease of 400 or 0.24 percent, from September 2006. During this 12-month period, the largest increase was in the Transportation & Warehousing sector, with 1,300 new jobs added, followed by Manufacturing, with 400 … [Read more...] about Industrial Market Summary: 3rd Quarter 2007

Las Vegas Market While a cooling housing market has led to a modest decline in retail sales growth in the Las Vegas Valley, tenant demand for anchored retail properties remained high, evidenced by tight market conditions and solid rent growth. Construction activity was high with 417,000 square feet of new retail space added in the third quarter 2007, increasing the Valley’s … [Read more...] about Retail Market Summary: 3rd Quarter 2007

Las Vegas Market According to the Nevada Department of Employment, Training and Rehabilitation, 230,600 office-related jobs were recorded in September 2007, an increase of 4,000, or 1.8 percent, from September 2006. The office market is showing signs of transition. Rents have been stable at $2.51 to $2.52 per square foot for the past three quarters.  Net absorption is down … [Read more...] about Office Market Summary: 3rd Quarter 2007

Las Vegas Second quarter 2007 industrial-related employment was up from Q2, 2006, indicating continued growth in demand for industrial space in the Las Vegas Valley. According to the Nevada Department of Employment, Training and Rehabilitation, 171,300 industrial-related jobs were recorded in June 2007, a net increase of 800, from June 2006. The Las Vegas Valley’s speculative … [Read more...] about Industrial Market Summary: 2nd Quarter 2007

Las Vegas June 2007 retail employment was up 3.1 percent (3,000 jobs) from June 2006, according to the Nevada Department of Employment, Training and Rehabilitation. The largest contribution came from the General Merchandise & Clothing sector, with 1,100 jobs added followed by Health & Personal Care Stores sector, with 300 new jobs and Food & Beverage Stores sector, … [Read more...] about Retail Market Summary: 2nd Quarter 2007

Las Vegas: The Las Vegas Valley’s speculative office space vacancy rate remained relatively unchanged from first quarter 2007. It increased by 0.1 percentage points to 10.9 percent. Class A vacancy increased by 3.4 percentage points to 10.5 percent, while Class C rose by .08 percentage points to 13.5 percent. The reported Class B vacancy rate was 10.6 percent (down 1.1 … [Read more...] about Office Market Summary: 2nd Quarter 2007