Las Vegas Industrial Market Report
Second Quarter 2019
Inventory
Total Industrial inventory in the Las Vegas market area amounted to 142,263,773 square feet with 3,096,288 square feet under construction.
Sale Activity
In the second quarter, 13 industrial transactions closed with a total volume of $107,762,305. The 13 buildings totaled 738,659 square feet and the average price per square foot equated to $145.89 per square foot. That compares to 13 transactions totaling $143,066,508 in the first quarter 2019. The total square footage in the first quarter was 1,431,410 square feet for an average price per square foot of $99.95.
Tallying industrial building sales of 15,000 square feet.
Mark of a Market.
One of the largest transactions that has occurred within the second quarter in the Las Vegas market is the sale of FedEx World Service Center at 7000 W. Post Rd. This 95,899 square-foot industrial building sold for $17,400,000 or $181.44 per square foot. The property sold on 4/9/19 as part of a portfolio. The Buyer was Industrial Logistics Properties Trust. The Seller was Cole Office & Industrial REIT.
The information in this post has been sourced by and is credited to ©2018 CoStar Group, Inc.
