Q2 Industrial Deliveries, Construction and Inventory

Commercial Building

The second quarter of 2014 brought no new industrial space to the Las Vegas market area as opposed to the two building finished in the first half which totaled 368,845 square feet.

Meanwhile, there was a total of 51,097 square feet of Industrial space under construction by the end of the quarter.

On the other hand, 7040 Redwood St, a 51,097-square-foot building with 0% of its space pre-leased was the only project under construction at the end of the second quarter.

Total Industrial inventory in the Las Vegas market area amounted to 116,026,776 square feet in 4,103 buildings as of the end of the second quarter 2014. The Flex sector consisted of 21,482,378 square feet in 953 projects. Within the Industrial market there were 244 owner-occupied buildings accounting for 12,787,510 square feet of Industrial space.

At the national level, there was a total of 229 buildings totaling 28.56 million square feet complete construction, with an additional 119.7 million square feet of industrial space still under construction at the end of the second quarter.

Total industrial inventory in the U.S. market totaled 20.96 billion square feet in more than 618,000 buildings at the end of the second quarter 2014, including more than 69,000 owner-occupied projects.

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