Las Vegas Industrial Figures Q2 2022
July 8, 2022
– Net absorption totaled 2.1 million sq. ft. for the second quarter, bringing the total to 5.2 million sq. ft. for the first half of the year.
– The overall vacancy rate further decreased from 1.1% to 0.9%, a new record low for the industrial market.
– The average asking lease rate increased by 6.7% from last quarter, to a new record high of $1.11 per sq. ft./NNN.
– Nearly 1.7 million sq. ft. of space was delivered during Q2 2022, with a total of 4.2 million sq. ft. year-to-date.