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COMMERCIAL
MARKET
MONITOR
Las Vegas Market Area
| Office Market Snapshot | Q2 2025 | Q1 2025 | Q2 2024 |
|---|---|---|---|
| Office Inventory (SF) | 57,700,960 | ||
| Under Construction (SF) | 828,000 | ||
| Vacancy Rate | 12.2% | 12.2% | 12.2% |
| Pricing (PSF) | $2.62 | $2.65 | $2.60 |
| Net Absorption (SF) | -164,724 | ||
| Completions (SF) | 0 |
| Industrial Market Snapshot | Q2 2025 | Q1 2025 | Q2 2024 |
|---|---|---|---|
| Industrial Inventory (SF) | 168,679,974 | ||
| Under Construction (SF) | 10,650,203 | ||
| Vacancy Rate | 9.9% | 9.5% | 6.3% |
| Pricing (PSF) | $1.13 | $1.10 | $1.12 |
| Net Absorption (SF) | 2,451,563 | ||
| Completions (SF) | 4,860,632 |
| Retail Market Snapshot | Q2 2025 | Q1 2025 | Q2 2024 |
|---|---|---|---|
| Retail Inventory (SF) | 55,691,342 | ||
| Under Construction (SF) | 496,970 | ||
| Direct Vacancy Rate | 5.2% | 4.6% | 5.7% |
| Total Vacancy Rate | |||
| Pricing (PSF) | $2.09 | $2.04 | $1.88 |
| Net Absorption (SF) | 152,652 | ||
| Completions (SF) | 0 |
Las Vegas Area Direct Vacancy Rates
- Office
- Industrial
- Retail
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Applied Analysis Las Vegas Market Reports are published quarterly and include in-depth information on the market, including a summary matrix outlining performance at the submarket level.
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Note: Directional arrows reflect comparisons to the prior year.
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myResearcher.comOFFICE MARKET
Q4 '23ECONOMIC TRENDS
1.7%
-2.7%
14.8%
OFFICE-USING EMPLOYMENT
OCCUPIED SPACE PER EMPLOYEE
S&P 500 ADJ. CLOSING PRICE
REAL ESTATE MARKET TRENDS
Q4 '22
Q4 '23
15.5%
14.1%
16.4%
16.1%
15.2%
14.5%
MEDICAL VACANCY RATE
PROFESSIONAL VACANCY RATE
CLASS B VACANCY RATE
Millions
Inventory (in SF) and Vacancy Rate
Millions
Supply vs. Demand Trailing 12-Month Total (in SF)
- Completions
- Absorption
Millions
Vacant Inventory (in SF) and Average
Asking Rate
Asking Rate
Millions
Planned and Under Construction (in SF)
- Planned
- Under Construction
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myResearcher.comINDUSTRIAL MARKET
Q2 '25ECONOMIC TRENDS
-1.7%
17.7%
-100.0%
INDUSTRIAL-USING EMPLOYMENT
MANUFACTURING TAXABLE SALES
INDUSTRIAL PRODUCTION INDEX
REAL ESTATE MARKET TRENDS
Q2 '24
Q2 '25
$1.12
$1.13
DISTRIBUTION VACANCY RATE
MANUFACTURING VACANCY RATE
AVERAGE ASKING RATE
Millions
Inventory (in SF) and Vacancy Rate
Millions
Supply vs. Demand Trailing 12-Month Total (in SF)
- Completions
- Absorption
Millions
Vacant Inventory (in SF) and Average
Asking Rate
Asking Rate
Millions
Planned and Under Construction (in SF)
- Planned
- Under Construction
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myResearcher.comRETAIL MARKET
Q2 '25ECONOMIC TRENDS
0.3%
-2.4%
-1.3%
RETAIL-USING EMPLOYMENT
TAXABLE RETAIL SALES
DISPOSABLE INCOME
REAL ESTATE MARKET TRENDS
Q2 '24
Q2 '25
$1.88
$2.09
POWER CENTER VACANCY RATE
NEIGHBORHOOD VACANCY RATE
AVERAGE ASKING RATE
Millions
Inventory (in SF) and Vacancy Rate
Millions
Supply vs. Demand Trailing 12-Month Total (in SF)
- Completions
- Absorption
Millions
Vacant Inventory (in SF) and Average
Asking Rate
Asking Rate
Millions
Planned and Under Construction (in SF)
- Planned
- Under Construction
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