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Area 15 in Las Vegas is a retail and entertainment complex featuring shops and food and beverage outlets in addition to attractions that take the complex far beyond traditional retail. Inside Area 15, which New York-based Fisher Brothers developed, Interstellar Arc bills itself as “the world’s largest VR…
Las Vegas' industrial market experienced a slight vacancy tightening to 12.7% in first quarter 2026 as net absorption of 1.5 million square feet outpaced construction deliveries of 1.3 million square feet, with major transactions including PepsiCo's 1.0 million square foot pre-lease at North Vegas Logistics Center and DHL's 1.3 million square foot multi-building move-in. Local employment declined 0.8% year-over-year while leasing activity declined from strong 2025 levels amid headwinds from slowing population growth, elevated housing costs, and a depressed labor market.
Las Vegas's office market recorded a 12.4% total vacancy rate in first quarter 2026 (down 30 basis points from year-end 2025), with modest net absorption of 206,410 square feet, while office-using employment totaled 238,000 jobs in December 2025, up 7.8% from pre-pandemic levels but down 2.2% year-over-year. The market faces headwinds from a sluggish housing sector, declining tourism, geopolitical tensions, and an empty construction pipeline with no new professional office projects delivered since 2024, though limited supply and steady renewal activity are expected to eventually drive moderate rent increases as Class A space continues to lease quickly while older inventory struggles.
Cushman & Wakefield's Q1 2026 Las Vegas multifamily market report shows the metro added 312 units across one property while maintaining resilient demand with net absorption of 403 units, resulting in a vacancy rate decline to 10.6% and an effective rent of $1,451 per unit. Economic conditions improved with Las Vegas employment at 1.2 million, unemployment falling to 5.5%, and median household income reaching $84,400, while the construction pipeline compressed to 5,487 units underway—its lowest level since 2021—with year-end deliveries expected to reach 4,880 units, 46% above the 10-year average.
Cushman & Wakefield's Q1 2026 Las Vegas industrial market report documents an 11.4% overall vacancy rate driven by 1.4 million square feet of new deliveries, while leasing activity of 3.0 million square feet (up 62% year-over-year) and consistent net absorption of 836,000 square feet sustained market fundamentals despite elevated supply. Average asking rents slightly declined to $1.07 per square foot, and the metro area's employment reached 1.2 million with unemployment falling to 5.5%, signaling continued economic growth and tenant demand sufficient to gradually absorb recent inventory additions as construction activity moderates.
Las Vegas retail vacancy climbed to 6.1% in Q4 2025 while asking rent increased to $2.06 per square foot, with the market recording $543.5 million in annual sales volume, a 54% year-over-year gain reflecting renewed liquidity and strengthened pricing at $283.57 per square foot. The metro economy added jobs with unemployment falling to 5.6%, median household income reaching $81,300, and Lifestyle Centers posting the strongest annual occupancy gains of 52,250 square feet as tenants gravitated toward amenitized, destination-oriented environments.
This is a first-quarter 2026 office market data report published by CBRE covering Las Vegas, Nevada, and related geographic areas.
In Q1 2026, the Las Vegas office market recorded 12.5% overall vacancy, $2.35 asking rent per square foot, and 299,000 square feet of year-to-date net absorption, with the unemployment rate at 5.5% and 1.2 million jobs in the metro area. Class A vacancy declined 200 basis points quarter-over-quarter to 19.4% as tenants pursued suburban amenity-rich properties, Class B tightened to 11.2%, and limited future pipeline supply is expected to gradually constrain availability and support a more landlord-favorable environment.
This is a first-quarter 2026 industrial market data report published by CBRE covering Las Vegas, Nevada and related regional markets.
This is a retail market report for Las Vegas published by CBRE in June 2025, covering the second quarter of 2025. The report provides a summary of market conditions in the Las Vegas retail sector.