Southern Nevada’s industrial real estate market enjoyed one of its best years in recent memory.
That is according to a recent report provided by Colliers International – Las Vegas. “Without a doubt, 2013 was the best year Southern Nevada’s industrial real estate market has had in five years,” said Colliers’ research director John Stater. “Hopefully, it was merely a prelude to an equally productive 2014.”
The sector had a year-over-year increase in net absorption of more than 130,000 square feet. The office and hotel sectors also saw year-over-year improvement. However, the same could not be said for retail, which had a net absorption decrease of more than 650,000 square feet.