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2020 Q3 Las Vegas Industrial Market Research Report

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Industrial Leads The Way

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  • Net absorption remained strong in the third quarter of 2020
  • Almost 4 million square feet of new industrial product was completed this quarter
  • Industrial vacancy increased to 6 percent

Southern Nevada’s industrial market posted 1,629,405 square feet of net absorption in the third quarter of 2020. This was lower than one quarter ago, but an improvement over the third quarter of 2019. Unfortunately, demand was exceeded by supply this quarter, with nearly 4 million square feet of new industrial product coming on the market. This increased overall industrial vacancy to 6 percent. Asking rental rates remained relatively stable at $0.77 per square foot (psf) on a triple net (NNN) basis.

 

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2020 Q3 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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