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Market insight is the essential ingredient in all of the services we offer. We monitor trends and make projections to help you make critical decisions. Our researchers continuously source and analyze data in every major global market, helping you adapt to drivers outside your industry and region that could impact your business. In addition, the Las Vegas office's research department is second to none, providing timely and accurate date on the Las Vegas commercial real estate market.

Recent Market Reports

Las Vegas Quarterly - Commercial Market Research Report
Poised For Greater Growth

2017 Second Quarter | Las Vegas Quarterly | Market Report
Southern Nevada’s expansion proceeded apace in the second quarter of 2017, and UNLV’s Center for Business and Economic Research believes the pace of growth may accelerate through the remainder of 2017 and into 2018. Unemployment in the Las Vegas-Paradise MSA stood at 4.8 percent as of May 2017, down from 6.4 percent in May 2016. The national unemployment figure was 4.3 percent in May 2017, down from 4.7 percent in May 2016. While the national unemployment remains lower than the Las Vegas figure, unemployment is dropping faster in Las Vegas than nationally. The national labor force participation rate increased to 62.7 percent in May 2017, 0.1 point higher than in May 2016.

To read more, download the full Q2 Las Vegas Quarterly Report.

Industrial Meets the Challenge

2017 Second Quarter | Las Vegas Industrial | Market Research Report
With Southern Nevada’s new industrial construction boom well underway, the results have been encouraging. At midyear 2017, Southern Nevada’s industrial market has posted net absorption totaling 3.6 million square feet, alongside 3.7 million square feet of new construction. This has occurred while vacancy has increased from the low of 5.3 percent recorded in the third quarter of 2016 to the current 5.4 percent. Vacancy in the second quarter of 2017 was 0.1 point lower than it was in the first quarter of 2017. The overall weighted average asking rate decreased to $0.64 per square foot (psf) on a triple net (NNN) basis in the second quarter of 2017, a $0.01 decrease from one quarter ago.

To read more, download the full Q2 Industrial Market Report.

Office Market Report
Office Recovery Gets a Boost

2017 Second Quarter | Las Vegas Office | Market Research Report
Southern Nevada’s office market saw dramatic improvement in the second quarter of 2017. After five years of recovery, the office market saw its strongest demand in nine quarters, with net absorption of 545,955 square feet. This brought vacancy down to 16.1 percent, while asking rents remained at $2.02 per square foot (psf) on a Full Service Gross (FSG).

To read more, download the full Q2 Office Market Report.

Retail Market Report
Retail Picks Up Speed

2017 Second Quarter | Las Vegas Retail | Market Research Report
After a strong second half 2016, Southern Nevada’s retail market suffered a weak first quarter of 2017. Fortunately, that down quarter proved to be temporary, as demand roared back to life in the second quarter. Things should improve even more by the end of 2017, with planned inventory growth and strong pre-leasing in those new projects. Vacancy decreased to 8.3 percent, and could dip below 8.0 percent by the end of the year. The asking rental rate for retail space in the second quarter of 2017 was $1.36 per square foot (psf) on a triplenet (NNN) basis, the same as it was one quarter ago.

To read more, download the full Q2 Retail Market Report.

Medical Office Market Report
Medical Office is Recovering Nicely

2017 Second Quarter | Las Vegas Medical Office | Market Research Report
For the fifth straight quarter, Southern Nevada’s medical office market posted not just positive, but quite strong net absorption. This was primarily due to the completion of a significant amount of new medical office space in the Valley, which suggests that, as we have said many times, the needs of modern medical practices were not being met by older medical office space. Asking rental rates for medical office increased by $0.03 per square foot (psf) on a full service gross (FSG) basis to $2.22.

To read more, download the full Q2 Medical Office Market Report.

2017 Q2 Las Vegas Commercial Land Market Research Report
Land Values Rise

2017 Second Quarter | Las Vegas Land | Market Research Report
Perhaps 2017 will be remembered as the post-recession year when Southern Nevada land became expensive again. At midyear, 2017 is well behind 2016 in terms of acres sold, but on pace to match 2016 in terms of sales volume. The average price per square foot (psf) of land sold so far in 2017 is $9.07; an impressive increase when compared to 2016’s average of $3.72 psf and 2015’s $6.24 psf.

To read more, download the full Q2 Land Market Report.

Las Vegas Hotel Report
The Hangover

2017 Second Quarter | Las Vegas | Hotel & Hospitality Report
Hospitality real estate sales continued to be light in the first half of 2017 compared to the first half of 2016. You might call this the hospitality hangover, as investors spent $1.6 billion on hospitality product in 2016 and now appear to be in wait-and-see mode in 2017. Visitor volume in the first four months of 2017 was 14.1 million visitors, just a tad shy of the 14.3 million visitors to Las Vegas in the first four months of 2016. Gaming revenue, on the other hand, was stronger in 2017 than 2016, with $3.37 million in the first four months of 2017 compared to $3.22 million in the first four months of 2016. The average daily room rate (ADR) and revenue per available room (RevPAR) were also up year-over-year. Room inventory did not increase in any meaningful way so far in 2017, and it should remain stable for the remainder of the year.

To read more, download the full Q2 Hotel & Hospitality Report.

Las Vegas Multifamily Report
The Development Boom

2017 Second Quarter | Las Vegas Multifamily | Market Research Report
According to statistics provided by REIS, multifamily vacancy in Southern Nevada increased by 0.1 point in the first quarter of 2017 (the most recent quarter of available data) to 3.3 percent. Vacancy this quarter was 0.8 points lower than it was one year ago. Class A properties were 3.7 percent vacant in the first quarter, 0.1 point higher than one quarter ago. Class B/C properties were 2.8 percent vacant, the same as they were just one quarter ago.

To read more, download the full Q2 Multifamily Market Report.

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