First Quarter 2024 Las Vegas Industrial Market Report

April 15, 2024
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Las Vegas Industrial Market Report

First Quarter 2024

Total Industrial inventory in the Las Vegas market area amounted to 179,403,954 square feet, up 9,666,304 square feet from one year ago. There are currently 16,044,684 square feet under construction.

Sale Activity

In the first quarter, 21 industrial transactions closed with a total volume of $127,328,948. The 21 buildings totaled 553,955 square feet and the average price per square foot equated to $229.85 per square foot. The average Cap Rates were 7.2%

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 7350 Prairie Falcon Road. The property was sold on 2/20/2024. The building totaled 148,643 square-feet and sold for $21,600,000 or $145.31 per square foot. The Buyer was Womble Investments. The Seller was MCA Realty, Inc.

The information in this post has been sourced by and is credited to ©2024 CoStar Group, Inc.

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