Jerry Doty / February 3, 2020
Q4 2019 FINISHED STRONG WITH OVER 5.4 MILLION SQUARE FEET OF NEW COMPLETIONS. The average asking lease rate for Las Vegas was extremely strong at $0.73 PSF. In addition, demand for industrial product remains high with occupiers expanding in the market to service the expanding Las Vegas economy and for new regional distribution facilities. The current pipeline for planned and under construction industrial projects totals 17.7 million square feet and is set to be delivered over the next 18 months. Should demand continue to stay on pace with delivery of these new projects then vacancy should remain near its current historic low.
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