Las Vegas Industrial Market Report
Fourth Quarter 2023
Inventory
Total Industrial inventory in the Las Vegas market area amounted to 173,832,055 square feet, up 8,640,577 square feet from one year ago. There are currently 17,531,450 square feet under construction.
Sale Activity
In the fourth quarter, 10 industrial transactions closed with a total volume of $136,689,843. The 10 buildings totaled 181,953 square feet and the average price per square foot equated to $1,045.78 per square foot. The average Cap Rates were 4.6%.
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 4245 W. Reno Avenue. This 13,142 square-foot industrial building sold for $6,100,000 or $464.16 per square foot. The property was sold on 12/08/2023. The Buyer was undisclosed. The Seller was American Property Financing.
The information in this post has been sourced by and is credited to ©2023 CoStar Group, Inc.
