Las Vegas Industrial Market Report
First Quarter 2018
Total Industrial inventory in the Las Vegas market area amounted to 133,312,048 square feet in 4,323 buildings as of the end of the first quarter 2018.
Total year-to-date industrial building sales activity in 2017 is down compared to the previous year. In the twelve months of 2017, the market saw 55 industrial sales transactions with a total volume of $361,907,957. The price per square foot has averaged $89.21 this year. In the twelve months of 2016, the market posted 53 transactions with a total volume of $409,269,069. The price per square foot averaged $91.85.
Cap rates have been higher in 2017, averaging 6.84%, compared to the twelve months of last year when they averaged 6.47%.
Tallying industrial building sales of 15,000 square feet or larger.
Mark of a Market.
One of the largest transactions that has occurred within the last four quarters in the Las Vegas market is the sale of Prologis Park in North Las Vegas. This 833,787-square-foot industrial building sold for $67,585,000, or $81.06 per square foot.