Southern Nevada The Las Vegas Valley spec office vacancy rate in Q4, 2015 declined 0.1 points to 18.4 percent from Q3, 2015. Compared to Q4, 2014, the office vacancy rate is down 0.5 points, from 18.9 percent. Q4’s vacancy rate drop means that the Valley’s office market has improved for four straight quarters. Vacancy rates ranged from 13.3 percent for Class C space to 27.1 … [Read more...] about Office Summary: Fourth Quarter 2015
Commercial RE Report
Industrial Summary: Fourth Quarter 2015
Southern Nevada The Las Vegas Valley’s overall industrial vacancy rate in Q4, 2015 was 4.7 percent, a rise of 0.3 points, from 4.4 percent in Q3, 2015. Q4’s increase was the first quarter that the vacancy rose in three years. Additionally, between November 2014 and November 2015, the number of industrial-space using jobs in the Valley jumped by 6.9 percent. The strong growth … [Read more...] about Industrial Summary: Fourth Quarter 2015
Retail Summary: Third Quarter 2015
Southern Nevada The Las Vegas Valley anchored retail vacancy rate dropped slightly to 11.4 percent in Q3, 2015. At the end of Q3, vacancy rates ranged from 9.3 percent in power centers to 13.2 percent in neighborhood centers. With the retail market just above the 10 percent stabilized rate and taxable retail sales at all-time highs, the Valley’s anchored market remains fairly … [Read more...] about Retail Summary: Third Quarter 2015
Office Summary: Third Quarter 2015
Southern Nevada Las Vegas Valley “spec office” vacancy rates during Q3, 2015 declined 0.3 points to 21.3 percent from Q2, 2015. Compared to Q3, 2014, the office vacancy rate is down 0.3 points, from 21.6 percent. Q3’s vacancy rate-decline means that the Valley’s office market has been improving for seven of the last eight quarters. Vacancy rates ranged from 15.2 percent for … [Read more...] about Office Summary: Third Quarter 2015
Industrial Retail Summary: Third Quarter 2015
Southern Nevada The overall vacancy rate for the Las Vegas Valley Industrial market in Q3, 2015 was 5 percent, a drop of 1.2 points, from 6.2 percent in Q3, 2015. The decline equates to 11 straight quarters of declining industrial vacancies. Additionally, between August 2014 and August 2015, the number of industrial-space using jobs in the Valley increased by 4.9 … [Read more...] about Industrial Retail Summary: Third Quarter 2015
Commercial Retail Summary: Second Quarter 2015
Southern Nevada The Las Vegas Valley Anchored Retail vacancy rate remained unchanged at 11.9 percent in the second quarter. At the end of Q2, vacancy rates ranged from 9.2 percent in Power Centers to 13.2 percent in Neighborhood Centers. The second quarter ends two consecutive quarters of increasing vacancy rates. With the retail market near the 10 percent stabilized rate and … [Read more...] about Commercial Retail Summary: Second Quarter 2015
Office Summary: Second Quarter 2015
Southern Nevada Las Vegas Valley spec office vacancy rates during Q2, 2015 ranged from 16.3 percent for Class C space to 32.1 percent for Class A. The overall vacancy rate was 21.6 percent, a decline from 21.7 percent recorded in Q1, 2015. Compared to Q2, 2014, the vacancy rate is down 1.1 points from 22.7 percent. Q2’s decline in vacancy rate makes 6 quarters with an … [Read more...] about Office Summary: Second Quarter 2015
Industrial Summary: Second Quarter 2015
Southern Nevada The overall vacancy rate for the Las Vegas Valley Industrial market in the second quarter was 6.2 percent, a drop of 0.5 points, from 6.7 percent in the first quarter of 2015. This decline equates to ten straight quarters of declining industrial vacancies. The strong growth in demand for industrial space, paired with resurgent construction and industrial … [Read more...] about Industrial Summary: Second Quarter 2015
Retail Summary: First Quarter 2015
Southern Nevada The Las Vegas Valley anchored retail vacancy rate rose 0.5 points from 11.4 percent in Q4 2014 to 11.9 percent in Q1 2015. At the end of Q1, vacancy rates ranged from 9.3 percent in Power Centers to 12.7 percent in both Community and Neighborhood Centers. The first quarter makes two consecutive quarters with a rising vacancy rate. Still, this increase is not … [Read more...] about Retail Summary: First Quarter 2015
Office Summary: First Quarter 2015
Southern Nevada Las Vegas Valley office vacancy rates during the first quarter of 2015 ranged from 16.5 percent for Class C space to 29.3 percent for Class A space. The overall vacancy rate was 21.7 percent, a slight rise above the 21.3 percent recorded in quarter four of 2014. Q1’s rise equates to the first increase in vacancy rate in 6 quarters. Completions for Q1 were … [Read more...] about Office Summary: First Quarter 2015
Industrial Summary: First Quarter 2015
Southern Nevada The overall vacancy rate for the Las Vegas Valley industrial market in Q1, 2015 was 6.9 percent, a drop of 0.3 points, from 7.2 percent in Q4, 2014. The first quarter’s decline equates to nine straight quarters of declining industrial vacancies. The strong growth in the demand for industrial space, paired with resurgent construction, shows that the Valley’s … [Read more...] about Industrial Summary: First Quarter 2015
Retail Summary: Fourth Quarter 2014
Southern Nevada The overall vacancy rate for the Las Vegas Valley anchored retail market in the fourth quarter of 2014 was 11.4 percent. The vacancy rate increased 0.4 points, from 11 percent in the third quarter. However, vacancies were down 0.3 points, from 11.7 percent compared to the same time in 2013. While the vacancy rate rose, the general trend still shows that the … [Read more...] about Retail Summary: Fourth Quarter 2014
Office Summary: Fourth Quarter 2014
Southern Nevada The Las Vegas office sector reported positive net absorption for three consecutive quarters in 2014. By the end of the year, the office market vacancy rate was 23.6 percent. The latest vacancy rate is up 0.2 percentage points from the prior quarter, but it has declined 0.7 percentage points from a year ago. During the fourth quarter of 2014, One Summerlin … [Read more...] about Office Summary: Fourth Quarter 2014
Industrial Summary: Fourth Quarter
Southern Nevada The Las Vegas industrial market vacancy rate fell to 8.0 percent in the fourth quarter of 2014. The vacancy rate is down 3.6 percentage points from a year ago. Industrial vacancies have been in the single digits for three consecutive quarters with annual declines reported for 12 consecutive quarters. In addition, the vacancy rate has declined 9.0 percentage … [Read more...] about Industrial Summary: Fourth Quarter
Retail Summary: Third Quarter 2014
Southern Nevada In the third quarter of 2014, the Las Vegas retail market reported a vacancy rate of 9.1 percent. The latest period represents a decline of 0.1 percentage point compared to the prior quarter (Q2 2014). Compared to a year ago (Q3 2013), the retail vacancy rate has declined 0.3 percentage points. Anchored retail space has now reported annual declines in vacancy … [Read more...] about Retail Summary: Third Quarter 2014