Las Vegas Industrial Market Report
Fourth Quarter 2018
Inventory
Total Industrial inventory in the Las Vegas market area amounted to 135,993,953 square feet in 4,360 buildings as of the end of the fourth quarter 2018.
Sale Activity
In the third quarter, 11 industrial transactions closed with a total volume of $79,041,990. The 11 buildings totaled 758,716 square feet and the average price per square foot equated to $104.18 per square foot. That compares to 23 transactions totaling $286,745,739 in the second quarter. The total square footage was 2,984,680 for an average price per square foot of $96.07.
Cap rates have been lower in 2018, averaging 6.10%, compared to the first nine months of last year when they averaged 6.62%.
Tallying industrial building sales of 15,000 square feet.
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 Henderson Interchange Center Building 2 in Las Vegas. This 197,120 square-foot industrial building sold for $25,100,000 or $127.33 per square foot. The property sold on 12/20/2018.
The information in this post has been sourced by and is credited to ©2018 CoStar Group, Inc.
