Las Vegas Industrial Market Report
Second Quarter 2025
Inventory
Total industrial inventory in the Las Vegas market area amounted to 195,654,846 square feet, up 10,988,672 square feet from one year ago, reflecting a 5.95% increase. There are currently 6,285,945 square feet under construction, a decrease of 5,073,907 square feet (down 44.67%) compared to this time last year.
Sale Activity
In the second quarter, 35 industrial transactions closed with a total volume of $352,315,403. The 35 buildings totaled 2,012,735 square feet and the average price per square foot equated to $244.69 per square foot. The average Cap Rates were 6.0%.
Mark of a Market.
One of the most significant transactions that occurred within the Las Vegas market was the sale of 7180 Myers Street – Strongbox Myers Industrial Center. The property was sold on April 4, 2025 for $24,117,760. The building totaled 83,280 square feet and sold for $289.60 per square foot. The Buyer was Myers Property, LLC (Switch, Inc.). The Seller was HD Myers Arby LLC (Habitat Development).
The information in this post has been sourced by and is credited to ©2025 CoStar Group, Inc.
