Monster's new distribution center is located at 3817 Bay LakeTrail, within Las Vegas Corporate Center in North Las Vegas. CBREbroker Donna Alderson, who represented Monster, says the negotiatedlease rate is a market rate for that size of a lease in the NorthLas Vegas submarket. "That is an extremely large tenant for ourmarket," Alderson says. "That is why the lease rate was socompetitive."

The Valley-wide vacancy rate for warehouse/distribution spaceended the year at 4.4% (1.77 million sf) and the average triple-netasking rate for such space was about $0.63 per sf per month. Withan asking rate in the low $0.50s per sf per month, North Las Vegasis the least expensive submarket in the region forwarehouse/distribution space. Near McCarran International Airportat the south end of the Las Vegas Strip, the average triple-netasking rate for warehouse/distribution space is more than $1 persf.

Speaking specifically about the warehouse/distribution market,Alderson says there continues to be a healthy supply and consistentdemand. "Demand for the small, for-sale stuff has softened up quitea bit as lending requirements have tightened but thewarehouse-distribution market has held up," she says. "Demand hassoftened up a little bit, but there is still solid activity in thatproduct type."