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Las Vegas Market Area

Office Market Snapshot	Q4 2023	Q3 2023	Q4 2022
Office Inventory (SF)	57,553,960	57,319,910	57,029,257
Under Construction (SF)	769,500	1,003,550	964,203
Vacancy Rate	14.9%	14.9%	15.4%
Pricing (PSF)	$2.30	$2.28	$2.22
Net Absorption (SF)	208,389	83,022	213,281
Completions (SF)	234,050	61,510	434,613

Industrial Market Snapshot	Q4 2023	Q3 2023	Q4 2022
Industrial Inventory (SF)	158,782,019	157,341,439	153,867,756
Under Construction (SF)	17,147,029	17,002,169	13,543,604
Vacancy Rate	5.3%	4.9%	3.9%
Pricing (PSF)	$0.83	$0.83	$0.82
Net Absorption (SF)	792,684	634,992	2,285,538
Completions (SF)	1,440,580	538,976	2,593,954

Retail Market Snapshot	Q4 2023	Q3 2023	Q4 2022
Retail Inventory (SF)	55,653,642	55,653,642	55,360,923
Under Construction (SF)	159,770	159,770	402,489
Direct Vacancy Rate	6.1%	6.1%	6.4%
Total Vacancy Rate	6.1%	6.1%	6.4%
Pricing (PSF)	$1.89	$1.88	$1.82
Net Absorption (SF)	-33,321	45,851	78,415
Completions (SF)	0	17,304	42,138

Las Vegas Area Direct Vacancy Rates

Office
Industrial
Retail

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