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2020 Q2 Las Vegas Industrial Market Research Report

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Logistical Demand Remains Strong

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  • Net absorption increased year-over-year in the second quarter of 2020
  • The trend of new completions outpacing net absorption ended
  • Industrial vacancy increased to 4.5 percent


Southern Nevada’s industrial market posted 2,036,052 square feet of net absorption in the second quarter of 2020, an improvement over last quarter and higher than one year ago. Industrial vacancy increased in the second quarter, but remained low at 4.5 percent. The weighted average asking rate decreased by $0.01 to $0.71 per square foot (psf) on a triple net (NNN) basis. The business closures enacted in March 2020 has apparently bifurcated the industrial market, with large warehouse/distribution properties seeing continued strong net absorption while other property types struggled.

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2020 Q2 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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