Las Vegas Industrial Market Report
Fourth Quarter 2022
Total Industrial inventory in the Las Vegas market area amounted to 164,068,216 square feet, up 6,760,156 square feet from one year ago. There are currently 19,165,196 square feet under construction.
In the fourth quarter, 17 industrial transactions closed with a total volume of $138,261,411. The 17 buildings totaled 1,488,192 square feet and the average price per square foot equated to $92.91 per square foot. The average Cap Rates were 4.8%.
Tallying all industrial building sales.
Mark of a Market.
One of the most significant transactions that has occurred within the Las Vegas market was the sale of South 15 Airport Center at Bermuda Avenue & E. Bruner Avenue. This 123,760 square-foot industrial building sold for $30,646,381 or $247.63 per square foot. The property was sold on 10/22/2022. The Buyer was CBRE Investment Management. The Seller was Hillwood Development Corporation.
The information in this post has been sourced by and is credited to ©2023 CoStar Group, Inc.