Jerry Doty / July 11, 2019
The First Quarter of 2019 Kicked off With Over 1.1 Million Square Feet of Industrial Space Absorbed in Southern Nevada.
The vacancy rate in Southern Nevada dropped to 3.2%, the lowest since 2007. Warehouse/distribution product vacancy hit 2.2%, the lowest in our history. The average asking rate has also increased by over $0.11 PSF from Q1 2018 to Q1 2019. With near historic vacancy new construction continues to increase with over 6.5 million square feet of space currently under construction and over 7.1 million square feet is planned.
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