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Las Vegas Industrial Market Research Report Q3 2022

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High Demand Drives Industrial Expansion

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  • Net absorption was strong in Q3
  • Vacancy remained low at 1.3%
  • Asking rates increased to $1.18 PSF NNN

Southern Nevada’s industrial inventory expanded by over 1.87 million square feet. Net absorption nearly matched this expansion at 1.84 million square feet. This kept vacancy at a very low 1.3%, still the lowest vacancy rate we have ever recorded in Southern Nevada. The weighted average asking rental rate for industrial space increased to $1.18 per square foot (psf) on a triple net (NNN ) basis, up from last quarter’s $1.13 psf NNN.

 

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Las Vegas Industrial Market Research Report Q3 2022

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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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