Average retail asking rents showed no change at $1.50 per square foot in third quarter, which is the lowest asking lease rate since 2003, reports Cushman & Wakefield / Commerce Real Estate Solutions. At the end of September, the Las Vegas retail market had approximately 8.28 million square feet of vacant product for a 14.6% vacancy. Yet, there was 16,603 square feet of positive net absorption in the third quarter, much of it coming from Frye’s Electronics moving into The Great Indoors space inside Boca Park in Summerlin. For the full report, CLICK HERE.Cushman & Wakefield: Retail Rents at 2003 Levels
Average retail asking rents showed no change at $1.50 per square foot in third quarter, which is the lowest asking lease rate since 2003, reports Cushman & Wakefield / Commerce Real Estate Solutions. At the end of September, the Las Vegas retail market had approximately 8.28 million square feet of vacant product for a 14.6% vacancy. Yet, there was 16,603 square feet of positive net absorption in the third quarter, much of it coming from Frye’s Electronics moving into The Great Indoors space inside Boca Park in Summerlin. For the full report, CLICK HERE.
