Page 23 - Las Vegas LVQR Market Research Report Q1 2024

Colliers 6
Retail
Las Vegas 24Q1

Average
Net Net Under
Total Inventory Direct Sublease Vacancy Rate Direct Asking
Subtype Availability Rate Vacancy Rate Absorption Absorption Construction Deliveries YTD
SF Availability Rate Availability Rate Previous Quarter Rate
Current YTD SF
(NNN)
Downtown
PC 0 n/a n/a n/a n/a n/a 0 0 0 0 n/a
CC 1,003,090 10.4% 0.0% 10.4% 8.2% 8.9% 6,888 6,888 0 0 $1.49
NC 470,630 12.5% 0.0% 12.5% 12.5% 12.5% 0 0 0 0 $1.89
SC 926,296 4.2% 0.0% 4.2% 4.2% 2.2% -17,994 -17,994 0 0 $1.93
FR 644,494 9.3% 2.3% 11.6% 11.6% 7.9% -23,856 -23,856 0 0 $2.36
Total 3,044,510 8.6% 0.5% 9.1% 8.4% 7.2% -34,962 -34,962 0 0 $1.70
Henderson
PC 2,896,215 5.3% 0.0% 5.3% 4.5% 6.0% 43,650 43,650 0 0 $1.21
CC 3,068,964 4.8% 0.0% 4.8% 4.8% 4.8% -1,704 -1,704 0 0 $0.86
NC 3,082,558 6.2% 0.1% 6.4% 6.0% 6.6% 19,060 19,060 0 0 $1.62
SC 2,264,576 6.9% 0.0% 6.9% 6.8% 6.5% -5,155 -5,155 0 0 $1.78
FR 1,283,747 1.5% 0.0% 1.5% 0.0% 1.0% 42,652 42,652 34,636 29,660 n/a
Total 12,596,060 5.3% 0.0% 5.3% 4.9% 5.5% 98,503 98,503 34,636 29,660 $1.39
North Las Vegas
PC 774,065 1.7% 0.0% 1.7% 1.7% 1.7% 0 0 0 0 $2.25
CC 2,527,936 2.4% 0.0% 2.4% 1.9% 2.2% 7,837 7,837 0 0 $1.88
NC 2,065,576 3.8% 0.0% 3.8% 3.4% 2.9% -9,276 -9,276 0 0 $1.61
SC 1,312,795 4.1% 0.0% 4.1% 4.1% 4.3% 2,559 2,559 35,570 0 $1.65
FR 519,669 1.0% 3.3% 4.3% 4.3% 4.3% 0 0 24,934 0 $1.50
Total 7,200,041 3.0% 0.2% 3.2% 2.9% 2.9% 1,120 1,120 60,504 0 $1.71
Northeast
PC 0 n/a n/a n/a n/a n/a 0 0 0 0 n/a
CC 1,297,819 9.5% 0.0% 9.5% 9.3% 7.5% -24,100 -24,100 0 0 $1.31
NC 1,404,861 4.2% 0.0% 4.2% 4.1% 1.9% -30,431 -30,431 0 0 $1.65
SC 769,047 5.3% 0.0% 5.3% 5.2% 4.9% -1,900 -1,900 0 0 $1.58
FR 533,545 2.2% 0.0% 2.2% 2.2% 2.2% 0 0 0 0 n/a
Total 4,005,272 5.9% 0.0% 5.9% 5.7% 4.3% -56,431 -56,431 0 0 $1.51
Northwest
PC 3,171,110 2.3% 0.0% 2.3% 2.2% 1.3% -28,073 -28,073 0 0 $2.50
CC 5,064,446 3.4% 0.0% 3.4% 3.0% 3.1% 4,625 4,625 0 0 $1.86
NC 3,595,985 5.8% 0.0% 5.8% 5.5% 5.8% 11,106 11,106 0 0 $1.56
SC 2,479,628 3.1% 0.0% 3.1% 2.7% 3.8% 67,428 67,428 0 42,820 $1.76
FR 1,275,997 0.0% 0.0% 0.0% 0.0% 0.0% 0 0 0 0 n/a
Total 15,587,166 3.4% 0.0% 3.4% 3.1% 3.2% 55,086 55,086 0 42,820 $1.79
Southwest
PC 944,314 3.7% 0.0% 3.7% 3.7% 4.8% 10,058 10,058 0 0 $1.50
CC 2,828,783 4.6% 0.0% 4.6% 4.6% 1.3% -94,462 -94,462 0 0 $2.52
NC 1,966,980 2.3% 0.0% 2.3% 1.8% 1.4% -8,013 -8,013 62,800 0 $2.70
SC 2,812,169 1.7% 0.0% 1.7% 1.6% 2.2% 15,739 15,739 0 0 $2.46
FR 1,021,072 0.3% 0.0% 0.3% 0.3% 0.2% -990 -990 0 0 $3.75
Total 9,573,318 2.7% 0.0% 2.7% 2.6% 1.8% -77,668 -77,668 62,800 0 $2.26
University East
PC 1,210,223 5.1% 0.0% 5.1% 2.3% 2.5% 2,684 2,684 0 0 n/a
CC 2,834,793 5.1% 1.3% 6.5% 6.1% 6.8% 20,390 20,390 0 0 $1.77
NC 2,069,675 14.3% 0.0% 14.3% 10.9% 13.3% 49,155 49,155 0 0 $1.48
SC 2,799,555 7.9% 0.0% 7.9% 6.8% 6.8% 2,067 2,067 0 0 $1.65
FR 1,456,252 2.3% 1.3% 3.6% 2.4% 8.1% 83,040 83,040 0 0 $1.57
Total 10,370,498 7.3% 0.6% 7.9% 6.3% 7.8% 157,336 157,336 0 0 $1.61
West Central
PC 1,138,224 9.4% 0.0% 9.4% 7.7% 7.5% -2,525 -2,525 0 0 $1.60
CC 1,673,635 9.9% 0.0% 9.9% 3.5% 4.4% 15,235 15,235 0 0 $1.65
NC 1,777,642 4.0% 0.0% 4.0% 3.1% 2.8% -5,162 -5,162 0 0 $1.64
SC 2,383,778 3.6% 0.0% 3.6% 3.6% 3.4% -4,364 -4,364 0 0 $1.98
FR 1,631,093 0.7% 0.6% 1.2% 1.2% 1.2% 0 0 0 0 $1.75
Total 8,604,372 5.1% 0.1% 5.2% 3.6% 3.6% 3,184 3,184 0 0 $1.76
Grand Total
PC 10,134,151 4.4% 0.0% 4.4% 3.6% 3.8% 25,794 25,794 0 0 $1.76
CC 20,299,466 5.2% 0.2% 5.4% 4.5% 4.2% -65,291 -65,291 0 0 $1.52
NC 16,433,907 6.1% 0.0% 6.2% 5.4% 5.6% 26,439 26,439 62,800 0 $1.61
SC 15,747,844 4.6% 0.0% 4.6% 4.3% 4.4% 58,380 58,380 35,570 42,820 $1.79
FR 8,365,869 1.7% 0.7% 2.4% 2.0% 2.9% 100,846 100,846 59,570 29,660 $1.94
Total 70,981,237 4.7% 0.1% 4.9% 4.2% 4.3% 146,168 146,168 157,940 72,480 $1.66
Historical
24q1 70,981,237 4.7% 0.1% 4.9% 4.2% 4.3% 146,168 146,168 157,940 72,480 $1.66
23q4 70,908,757 4.9% 0.1% 5.0% 4.3% 4.3% -16,214 104,511 254,014 -81,220 $1.65
23q3 70,878,281 4.9% 0.1% 5.0% 4.3% 4.2% -81,020 120,725 452,282 -111,696 $1.68
23q2 70,878,281 4.8% 0.1% 4.9% 4.2% 4.3% -79,026 201,745 429,078 -111,696 $1.69
23q1 71,049,177 4.9% 0.1% 5.0% 4.3% 4.6% 280,771 280,771 428,858 59,200 $1.62