Las Vegas Industrial Market Report
Fourth Quarter 2024
Inventory
Total Industrial inventory in the Las Vegas market area amounted to 190,002,441 square feet, up 13,684,384 square feet from one year ago. There are currently 7,942,602 square feet under construction.
Sale Activity
In the fourth quarter, 66 industrial transactions closed with a total volume of $440,741,140. The 66 buildings totaled 3,373,810 square feet and the average price per square foot equated to $210.24 per square foot. The average Cap Rates were 5.5%.
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 5150 N. Sloan Lane. This 349,875 square-foot industrial building sold for $54,300,000 or $155.20 per square foot. The property was sold on 12/17/2024. The Buyer was AEW Capital Management. The Seller was IDV Speedway LLC.
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