First Quarter 2022 Las Vegas Industrial Market Report

April 18, 2022
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Las Vegas Industrial Market Report

First Quarter 2022

Total Industrial inventory in the Las Vegas market area amounted to 158,906,921 square feet, up 5,585,845 square feet from one year ago. There are currently 7,666,898 square feet under construction.

Sale Activity

In the first quarter, 72 industrial transactions closed with a total volume of $324,501,124. The 72 buildings totaled  2,010,641 square feet and the average price per square foot equated to $172.70 per square foot. The average Cap Rates were 4.4%

Tallying all industrial building sales.

Mark of a Market.

One of the most significant transactions that occurred within the Las Vegas market was the sale of CapRock Interchange Industrial at 5445 E. Centennial Parkway. The property was sold on 1/24/2022 as part of a two (2) property portfolio sale. The two buildings totaled 683,436 square-feet and sold for $123,888,000 or $181.26 per square foot. At the time of sale, the property was 100 percent leased to Boxabl, BarkBox and Evanesce Packaging Solutions. The Buyer was NV Interchange Industrial Center LLC. The Seller was CRP/Caprock Interchange Industrial Owners LLC.

The information in this post has been sourced by and is credited to ©2022 CoStar Group, Inc.

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