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2020 Q4 Las Vegas Industrial Market Research Report

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E-Commerce in the Driver’s Seat

MR LAS 20Q4 IND 175x227

  • Bulk warehouse space was the star of the industrial market in 2020
  • 8 million square feet of new industrial product was completed in 2020
  • 6.5 million square feet of new industrial product was absorbed in 2020

Southern Nevada’s industrial market posted 1,071,039 square feet of net absorption in the fourth quarter of 2020. This was lower than one quarter ago, but an improvement over the fourth quarter of 2019. Industrial supply exceeded demand in 2020 as a whole, with net absorption of 6.5 million square feet and new completions of 8 million square feet. This sent industrial vacancy to 6 percent in the fourth quarter of 2020, two points higher than in the fourth quarter of 2019. Asking rental rates remained stable at $0.70 per square foot (psf) on a triple net (NNN) basis.

 

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2020 Q4 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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