Las Vegas Industrial Market Report
Second Quarter 2018
Total industrial inventory in the Las Vegas market area amounted to 132,809,890 square feet in 4,333 buildings as of the end of the second quarter 2018.
In the first quarter, 14 industrial transactions closed with a total volume of $56,124,000. The 14 buildings totaled 526,078 square feet with an average of $106.68 per square foot. That compares to nine transactions totaling $36,602,812 in the fourth quarter. The total square footage was 389,476 for an average price per square foot of $93.98.
Cap rates have been lower in 2018, averaging 5.63%, compared to the first three months of last year when they averaged 7.14%.
Tallying industrial building sales of 15,000 square feet or larger.
Mark of a Market.
One of the largest transactions that has occurred in the second quarter in the Las Vegas market is the sale of Lincoln Business Center at 3910 Alto Avenue. This 338,520 square foot industrial building sold for $35,760,000, or $105.64 per square foot. The property sold on 5/1/2018.
The information in this post has been sourced by and is credited to ©2018 CoStar Group, Inc.