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2021 Q4 Las Vegas Industrial Market Research Report

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A Record Year for Las Vegas Industrial

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  • Record 11.6 MM square feet of net absorption in 2021
  • Vacancy hits lowest level ever at 2.3%
  • Asking rates end year at $0.82 PSF NNN

Southern Nevada’s industrial market had record demand in 2021, with the year’s 11.6 million square feet of net absorption easily besting the previous record of 7.8 million square feet in 2017. Industrial vacancy decreased to 2.3% at the end of 2021, the lowest industrial vacancy rate we have recorded for Southern Nevada. Asking rental rates for industrial space ended the year at $0.82 per square foot (psf) on a triple net (NNN ) basis.

 

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2021 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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