| Class A | Class B | Class C | Total | |
|---|---|---|---|---|
| Property Count | 65 | 1,063 | 146 | 1,274 |
| Net Rentable Area (SF) | 7,576,716 | 28,817,328 | 4,580,229 | 40,974,273 |
| Vacant Square Feet (Direct) | 1,440,880 | 2,967,716 | 728,656 | 5,137,252 |
| Vacancy Rate (Direct) | 19.0% | 10.3% | 15.9% | 12.5% |
| Average Rent¹ (Direct, FSG) | $3.13 | $2.48 | $1.72 | $2.59 |
| Net Absorption (Direct SF) | 205,760 | -12,905 | -251,383 | -58,528 |
| Construction Deliveries (SF) | 0 | 0 | 0 | 0 |
| Under Construction (SF) | 0 | 0 | 0 | 0 |
Source: CBRE Note: Office buildings include those that are 10,000 square feet or larger and exclude owner-user/single-tenant and government-owned properties. Buildings are considered under construction if site excavation or foundation work has commenced. Historical data may reflect changes in methodology. ¹Asking rents are expressed on a per-square-foot, per-month basis. FSG stands for full-service gross.
| Bulk Distribution | Flex/ Incubator | Light Distribution | Midbay | Special Purpose | Single Tenant | Total | |
|---|---|---|---|---|---|---|---|
| Property Count | 98 | 925 | 268 | 422 | 164 | 2,523 | 4,400 |
| Net Rentable Area (SF) | 44,880,448 | 22,480,272 | 41,108,916 | 27,225,173 | 13,268,958 | 34,258,294 | 183,222,061 |
| Vacant Square Feet (Direct) | 7,855,589 | 1,216,947 | 4,890,787 | 2,139,802 | 78,822 | 1,144,919 | 17,326,866 |
| Vacancy Rate (Direct) | 17.5% | 5.4% | 11.9% | 7.9% | 0.6% | 3.3% | 9.5% |
| Average Rent¹ (Direct, NNN) | $1.01 | $1.28 | $1.15 | $1.28 | $1.26 | $1.25 | $1.20 |
| Net Absorption (Direct SF) | 2,866,098 | -105,970 | 1,487,926 | 392,763 | -31,401 | 503,328 | 5,112,744 |
| Construction Deliveries (SF) | 2,699,601 | 141,894 | 1,411,922 | 1,214,182 | 0 | 682,138 | 6,149,737 |
| Under Construction (SF) | 1,143,903 | 254,120 | 658,000 | 525,702 | 2,746,203 | 377,453 | 5,705,381 |
Source: CBRE Note: Industrial and flex buildings exclude data centers. Properties are considered under construction once site excavation or foundation work has commenced. Historical data may reflect changes in methodology. ¹Asking rents are expressed on a per-square-foot, per-month basis. NNN stands for triple net, meaning the tenant is responsible for property taxes, insurance, and maintenance.
| Net RentableArea (SF) | Vacant Square Feet (Direct) | Vacancy Rate (Direct) | Average Rent¹ (Direct, NNN) | Net Absorption (Direct SF) | Construction Deliveries (Direct SF) | Under Construction (SF) | |
|---|---|---|---|---|---|---|---|
| Central East | 15,952,843 | 1,298,854 | 8.1% | $1.59 | 223,120 | 64,481 | 0 |
| Central West | 18,441,266 | 1,187,143 | 6.4% | $1.86 | -12,986 | 318,492 | 0 |
| East | 6,030,636 | 189,136 | 3.1% | $2.05 | 48,437 | 46,007 | 40,000 |
| North (North Las Vegas) | 9,850,035 | 463,353 | 4.7% | $2.00 | 10,556 | 75,948 | 0 |
| Northeast | 7,146,031 | 311,752 | 4.4% | $1.64 | -81,708 | 10,918 | 0 |
| Northwest | 7,681,352 | 174,777 | 2.3% | $2.37 | -40,881 | 13,423 | 0 |
| Southeast (Henderson) | 22,199,361 | 985,779 | 4.4% | $2.39 | -259,521 | 20,431 | 0 |
| Southwest | 12,732,104 | 299,885 | 2.4% | $2.77 | 169,752 | 122,748 | 0 |
| West (Summerlin) | 10,996,958 | 478,625 | 4.4% | $2.63 | 3,099 | 46,500 | 0 |
| Total | 111,030,586 | 5,389,304 | 4.9% | $2.08 | 59,868 | 718,948 | 40,000 |
Source: CBRE Note: Retail buildings or shopping centers are defined as properties with a cumulative size of 5,000 square feet or more. Properties located within the resort corridor and regional malls are excluded. Properties are considered under construction once site excavation or foundation work has commenced. Historical data may reflect changes in methodology. ¹Asking rents are expressed on a per-square-foot, per-month basis. NNN stands for triple net, meaning the tenant is responsible for property taxes, insurance, and maintenance.
