Las Vegas Industrial Market Report
Second Quarter 2024
Inventory
Total Industrial inventory in the Las Vegas market area amounted to 184,103,533 square feet, up 12,062,218 square feet from one year ago. There are currently 12,310,230 square feet under construction.
Sale Activity
In the second quarter, 23 industrial transactions closed with a total volume of $115,447,985. The 23 buildings totaled 682,406 square feet and the average price per square foot equated to $175.48 per square foot.
Tallying all industrial building sales.
Mark of a Market.
One of the most significant transactions that occurred within the Las Vegas market was the sale of 3131 Polaris Avenue. The property was sold on 6/20/2024. The building totaled 88,457 square-feet and sold for $17,000,000 or $192.18 per square foot. The Buyer was BLT Enterprises. The Seller was PepsiCo, Inc., represented by our MDL team.
The information in this post has been sourced by and is credited to ©2024 CoStar Group, Inc.
