• The Las Vegas industrial market maintained relatively strong market activity resulting in 1.4 million sq. ft. of net absorption for Q3 2020.
  • Developers added about 900,000 sq. ft. of new space during Q3 2020, and nearly 3.0 million sq. ft. broke ground during the quarter bringing the total space under construction to 6.8 million sq. ft.
  • The overall vacancy rate was unchanged from Q2 2020 at 3.4%.  The North Las Vegas submarket saw the largest over-the-quarter decline in vacancy from 5.3% to 4.1%.