Las Vegas The Las Vegas Valley industrial market slowed to a level not seen in several years. The vacancy rate edged up slightly to 18 percent as 135,600 square feet of negative net absorption was reported during the second quarter. For comparison purposes, the vacancy rate is up 13 basis points from the previous quarter (Q1 2011) and up 1.8 percentage points from the same … [Read more...] about Industrial Summary: Second Quarter 2011
commercial real estate
Industry Focus: Commercial Real Estate
Nevada’s commercial real estate industry has been used as an example across the nation of how difficult things are for the sector as a whole. Even so, commercial real estate professionals that have survived thus far have indicated a hope for the future while recognizing that they expect a long recovery period. Recently, executives representing this struggling industry met at … [Read more...] about Industry Focus: Commercial Real Estate
Retail Summary: First Quarter 2011
Las Vegas Retail vacancies pushed upward after three consecutive quarters of decline. The vacancy rate jumped to 10.4 percent during the quarter, an increase of 0.2 percentage points compared to the previous quarter (Q4 2010), but 0.3 percentage points less than the same period in the prior year (Q1 2010). Average asking rents continued their downward trend, slipping to $1.53 … [Read more...] about Retail Summary: First Quarter 2011
Office Summary: First Quarter 2011
Las Vegas The Las Vegas Valley office market witnessed a modest decline in vacancy with continued downward price adjustments. While no new space completed construction during the quarter, the market reported 97,300 square feet of positive net absorption, sliding the vacancy rate 0.2 percentage points to 24.0 percent. Looking ahead, eight projects totaling nearly 1.2 … [Read more...] about Office Summary: First Quarter 2011
Industrial Summary: First Quarter 2011
Las Vegas The Las Vegas Valley industrial market remained fragile as significant move-outs continued to place downward pressure on pricing. Â The vacancy rate moved upward to 17.9 percent as 1.1 million square feet of negative net absorption was reported during the quarter. For comparison purposes, the vacancy rate is up 1.0 percentage points from the previous quarter (Q4 2010) … [Read more...] about Industrial Summary: First Quarter 2011
Retail Summary: Fourth Quarter 2010
Las Vegas Retail vacancies declined for the third consecutive quarter, as second-generation space in anchored retail centers was absorbed amid a decline in average asking rents. The vacancy rate fell to 10.2 percent during the quarter, a decline of 0.3 percentage points compared to the previous quarter (Q3 2010) and the same period over the prior year (Q4 2009). During the … [Read more...] about Retail Summary: Fourth Quarter 2010
Office Summary: Fourth Quarter 2010
Las Vegas The Las Vegas Valley office market turned downward again as vacancies rose amid additional price declines. While no new space completed construction during the quarter, the market reported 118,800 square feet of negative net absorption, pushing the vacancy to a new high of 24.2 percent. For all of 2010, a record low 105,800 square feet completed construction … [Read more...] about Office Summary: Fourth Quarter 2010