May
15
2015 Q1 MarketBeat Las Vegas Retail Snapshot: Demand is on the Rise with Decreased Vacancy and Increased Lease Rates

retailSouthern Nevada’s retail market slowed modestly from prior quarters but continued to improve with 87,204 square feet of positive absorption. The overall vacancy rate declined by 0.6 percentage points on a year-over-year basis representing a very resilient market when considering the just over 2.1 msf of new product that was added to the market over that same period. Lease rates climbed by 11.5% over the last ¬†year showing that demand is on the rise.

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