Las Vegas industrial outlook: Climbing deliveries and falling vacancy

Bar chart displaying Las Vegas CRE deliveries and total vacancies from 2021 to 2023

With industrial development on the rise, the question of “Is there enough demand to accommodate the influx of new supply” has become a popular topic of discussion. It appears that the answer to the question is – if you build it, they will come. This is evidenced by the fact that average deliveries in the past 2-years (1,613,067 sf/quarter) are up 48.2% over their 10-year moving average of 1,088,136 sf/quarter, while average vacancy rates over the past 2-years have dropped to 2.8% - a 51.1% decrease from their 10-year moving average of 5.7%.

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