April 2019: Commercial Real Estate

It’s hard to keep up with the present demand of the industrial real estate in Southern Nevada. Southern Nevada is strong in industrial activity. Las Vegas has a population of 2.2 million people with 130 million square feet of industrial space. Larry Monkarsh, owner of LM Construction and a partner of Brass Cap Development said that he does not see the industrial real estate slowing anytime in 2019. He also added that there’s a good amount of outside investment coming into the Las Vegas industrial market and plenty of the new buildings are driven from companies coming in from out of the state.

Las Vegas’ medical office real estate has two years of strong growth and demand. The inventory has grown to 614,367 square feet over the past couple of years. The healthcare market is in a good position now compared to previous years. The vacancy rate was 15.6% in 2016 and the current vacancy rate is 12.1%.