X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Industrial development in Las Vegas could be starting to outpace demand. According to the latest market report from Colliers International, industrial net absorption has been decreasing since 2017. In the fourth quarter, vacancy rate increased as absorption and rental rates decreased in the market. As a result, the vacancy rate is expected to continue increase in 2020.

“Growth has primarily been in industrial properties—the big warehouse spaces—and in multifamily. The industrial activity dwarfs what we saw during the boom,” John Stater, research manager at Colliers, tells Globest.com. “Ecommerce is a big part of hit, but there is also an element of the growth of the city. It is becoming more prominent. When you have major sports teams opening up shop, people start looking Las Vegas as real city and not just an after thought to Southern California.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. He work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author

GlobeSt. NET LEASE 2020Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.