• The Las Vegas industrial market proved it's strength and resiliency through 2020.
  • Net absorption was positive 1.7 million sq. ft. for Q4 2020, bringing the total net absorption for the year at 6.4 million, the second highest level in the market's history.
  • New construction completions for Q4 2020 was 2.8 million sq. ft., with more than 70% of that space being speculative.
  • The direct vacancy rate was 4.6%, which is 120 basis points higher than Q3 2020, a result of the amount of new speculative construction that completed during the quarter.