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2020 Q1 Las Vegas Industrial Market Research Report

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Demand Strong Ahead Of Pandemic

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  • Net absorption increased year-over-year in the first quarter of 2020
  • Completions outpaced net absorption for the fourth straight quarter
  • Industrial vacancy increased to 4.1 percent

Southern Nevada’s industrial market posted 1,282,170 square feet of net absorption in the first quarter of 2020, an improvement over last quarter and higher than one year ago. Industrial vacancy remained low in the first quarter, at 4.1 percent, but was still 0.9-points higher than it was one year ago. The weighted average asking rate decreased by $0.02 to $0.70 per square foot (psf) on a triple net (NNN) basis. After a 2019 that saw lower overall net absorption than 2018, the impact of the COVID-19 pandemic and the many disruptions it has caused could pose a challenge to the industrial market.

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2020 Q1 Las Vegas Industrial Market Research Report

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John Stater

Research Manager

Las Vegas

John has managed the research and GIS (Geographic Information Services) departments at Colliers’ Las Vegas office for more than two decades. During that time he has been collecting, analyzing and reporting on the commercial real estate market of Las Vegas, NV, building the research department at Colliers International's Las Vegas from the ground up, establishing a database of properties, availabilities and lease and sales comps with over 20,000 records covering the industrial, office, retail, land, multifamily, hospitality, medical office markets, as well as Southern Nevada's economy in general. He also writes for the Vegas CRE Insider blog. As his office's GIS manager, he produces local, regional and national maps.

In his spare time, John writes, designs and publishes games and does freelance work in the game industry and economic research.

 

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