Figures

Las Vegas Retail Figures Q4 2024

February 20, 2025 5 Minute Read

Looking for a PDF of this content?

Download

-The Las Vegas retail market demonstrated robust performance in Q4 2024, with a lower-than-average vacancy rate of 4.2% and an availability rate of 4.7%, indicating healthy demand and a balanced market.
-Sublease space in 2024 increased from prior years, likely due to a challenging business environment for some industry sectors.
-The weighted average asking lease rate was $2.01 per square foot, down slightly year-over-year, but indicative of higher-quality product being leased and removed from market.
-Sales volume reached its highest level since Q4 2022, underscoring strong investment interest and confidence in the market.
-Inflated land costs and cost of construction paired with low vacancy rates, caused increase in concessions and achieved asking lease rates.