Q2 Report: Industrial Vacancy Drops to 4.4%

LAS VEGAS-Vegas Valley industrial vacancy at mid-year stood at 4.4% while the average asking rate stood at $0.82 per sf, according to two recently released second quarter reports, one by Applied Analysis and another by Restrepo Consulting Group and Colliers International.

According to which report you read, industrial vacancy either fell from 4.6% at the end of the first quarter or rose from 4.3%. With regard to rates, the reports agree that the average asking rate is up $0.01 from the end of the first quarter.

Net absorption through the first half of the year totaled somewhere between 2.3 million sf and three million sf, according to the reports, while new deliveries totaled somewhere between 3.2 million sf and 3.6 million sf.