Industrial transaction activity in Las Vegas is down from 2019, but there are still new lease and sale transactions closing in the market area at levels more comparable to 2017 and 2018 levels, according to Integra Realty Resources.
Las Vegas industrial vacancy levels are remaining stable, with only a minor increase in vacancy levels. Cap rates for closed deals in 2020 that occurred after the onset of the COVID-19 pandemic have in general remained stable. There has been no negative absorption in the overall metro industrial market in 2020 according to several sources.
The market continues to deliver new product to the market in the form of recent completions, and under construction product continues to be received in the market.
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