Las Vegas retail market thrives through and beyond pandemic with record rent and occupancy rates

Las Vegas Retail Data Bite May 2024_chart
  • Despite the pandemic's impact on tourism, the Las Vegas retail market has seen increased retail rates and occupancy rates through and beyond the COVID-19 pandemic, with rents reaching $32.56 per square foot annually and a 94.42% occupancy rate by the end of 2023.
  • Retail asking rents and occupancy rates in Las Vegas surpassed pre-pandemic levels by mid-2022, reflecting the market's resilience and continued attractiveness to retail occupants.
  • The competitive conditions in the Las Vegas retail market highlight its appeal as a prime destination for both tourists and retail businesses, maintaining high demand and occupancy.

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US-NV-LAS Las Vegas