Las Vegas Industrial Figures Q2 2026

The Las Vegas industrial market posted 825,000 sq. ft. of positive net absorption in Q2 2026, extending the market’s trend of healthy occupancy gains despite ongoing additions to inventory. While leasing slowed from earlier momentum, underlying demand continued to support occupancy gains, particularly in the North Las Vegas submarket, accounting for nearly three-fourths of  the total. The total vacancy rate increased slightly to approximately 9.0%, reflecting a modest 20-basis-point rise quarter-over-quarter. Despite this increase, vacancy trends remained relatively controlled, with tighter submarkets, such as the Airport and Southwest, offsetting higher vacancy concentrations in the Apex and North Las Vegas submarkets.

Nearly 1.3 million sq. ft. of new space was delivered during Q2 2026, adding a sizable amount of inventory, largely within the North Las Vegas and Apex submarkets. At the same time, construction activity slowed, with total space under construction declining to approximately 5.9 million sq. ft., extending recent downward trends across the market. While completed projects increased market availability, the decrease in active development reflects a shift toward a more sustainable and balanced supply pipeline.