September 2019: Commercial Real Estate

The commercial real estate of Southern Nevada had a remarkable second quarter. The industrial market showed development. In a report from Nevada Business, Research Manager of Colliers International in Las Vegas John Stater said, “Southern Nevada’s industrial market posted 1.8 million square feet of net absorption in the second quarter of
2019, with the bulk of that net absorption coming from two build-to-suit projects in North Las Vegas.”

The medical office market slowed down in the second quarter even if it anticipated growth. On the other hand, warehouse or distribution buildings and multifamily projects have shown signs of growth as developers and investors are eager to pay extra for land in Southern Nevada.

Southern Nevada seems to be unaffected by the recession. It seems capable to weather the storm the recession may bring to the real estate market.