Las Vegas' retail sector has been enjoying healthy demand, led by sales activity, which hit a volume of about $245.55 million, accounting for roughly 616,000 square feet in the fourth quarter, according to an analysis posted by CBRE on the market and asset class. Not only is that figure up significantly from the $124.16 million and 132,000 square feet from the same period in 2023, but retail sales have hit their highest levels in the city since the fourth quarter of 2022.

The largest two sales involved the buildings Vista Commons (West submarket), and Mountains Edge Marketplace (Southwest submarket), which went for $55.1 million and $55.3 million, respectively. The next three involved these properties: 64,914 square foot Burlington, 24,775 square foot Spring Mountain Plaza, and 71,691 square foot 4500 E Tropicana Ave. Additionally, all five of these deals were in different submarkets, which speaks to what investors think regarding the market's depth.

"These figures underscore the strong demand and investment interest in the Las Vegas retail market," CBRE wrote in an analysis.