Third quarter demand for Southern Nevada’s retail market did not quite match the second quarter’s very strong net absorption, but remained solid.
>> Retail net absorption remained positive in the third quarter
>> Vacancy decreased to 6.9 percent
>> Asking rents increased to $1.53 psf NNN
Net absorption was higher in the third quarter of 2019 than it was one year ago, and asking rents, which jumped in the second quarter, continued to increase in the third quarter, reaching $1.53 per square foot (psf) on a triple-net (NNN) basis.
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