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.