NAI Excel and NAI Vegas Publish 2022 Midyear Market Research
August 17, 2022: NAI Excel and NAI Vegas recently released their 2022 MIDYEAR publication covering commercial real estate along the I-15 corridor in Utah and Nevada. The report highlights recent trends in office, industrial, retail, and multifamily markets in Southern Nevada, Southern Utah, and along the Wasatch Front. The latest release marks the 30th edition of the publication.
According to the report, buyers of commercial real estate continue to experience limited availability and historically high sales prices in the first half of 2022. “Although cap rates have increased slightly since last year, lease rates are up for nearly every property type and vacancy rates are holding near decade lows for most asset classes,” stated Jon Walter, COO at NAI Excel.
The report details that the Federal Reserve is undertaking a deliberate strategy to contract the money supply and slow demand to reduce inflation. “We expect the Fed to continue tightening policy until they see a sustained slowdown in inflation, added Todd Manning, managing broker for NAI Vegas. “Once inflation returns to more neutral levels, and depending on the state of the economy, we may even see the Fed start to ease policy.”
Despite ongoing changes to fiscal policy, we are confident in the long-term opportunities along the I-15 corridor. The fundamentals of population growth, education, employment, and quality of life will continue to drive our local and regional economies.”
VIEW 2022 MIDYEAR MARKET REPORT
About NAI Vegas and NAI Excel
NAI Excel and NAI Vegas are leading providers of Commercial Real Estate Services in the West. Operating as NAI Vegas in Nevada, and NAI Excel in Utah and Idaho, we are part of the NAI Global network covering nearly every major market nationally and across the globe. Serving both urban and rural markets, we leverage our resources to help you excel in your real estate goals. When you work with one of our team, you get the benefit of working with all of us.
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 300 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 5,100 local market professionals, managing in excess of 1.15 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.