Las Vegas Retail Market Report
First Quarter 2019
Inventory
Total retail inventory in the Las Vegas market area amounted to 115,357,958 square feet with 951,823 square feet under construction.
Sale Activity
In the first quarter, 12 retail transactions closed with a total volume of $126,258,651. The total square footage in the first quarter was 756,274 square feet for an average price per square foot of $166.95.
Tallying retail building sales of 15,000 square feet or larger.
Mark of a Market.
One of the largest transactions that has occurred within the first quarter in the Las Vegas market is the sale of Shadow Mountain Marketplace at 6415-6475 N. Decatur Blvd. This 136,279 square foot retail building sold for 51,665,648 or $379.12 per square foot. The property sold on 1/10/2019. The Buyer was a Family Trust. The Seller was Laguna Pacific Development Corp.
The information in this post has been sourced by and is credited to ©2018 CoStar Group, Inc.
