Retail Demand Surges at Midyear
- Retail vacancy decreased to 4.8% this quarter
- Net absorption surged to 459,545 square feet
- Retail asking rates decreased to $1.56 psf NNN
Southern Nevada’s retail market had its strongest quarter since the fourth quarter of 2021, with net absorption surging to 459,545 square feet. Deliveries of new retail space were light this quarter, bringing vacancy down to 4.8%, the lowest it has been since the Great Recession. The asking rental rate for retail space decreased to $1.56 psf on a triple net (NNN)
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