Southern Nevada’s industrial market saw 924,525 square feet in net absorption in the second quarter, reflecting a year-over-year increase of more than 800,000 square feet, reports Colliers International. There was also 489,320 square feet of industrial space was completed, compared to none one year ago. In addition, all of the 1.4 million square feet of new industrial space under construction is build-to-suit space, signifying recovery and a continued interest in Southern Nevada for industrial operators. “We predict that net absorption will slack off some in the latter half of 2013, but should remain positive for the year as a whole,” said Colliers International’s research director John Stater. “Asking lease rates should continue to rise, or at worst remain flat.” For the full report, CLICK HERE.Report: Industrial Market Surges in Second Quarter
Southern Nevada’s industrial market saw 924,525 square feet in net absorption in the second quarter, reflecting a year-over-year increase of more than 800,000 square feet, reports Colliers International. There was also 489,320 square feet of industrial space was completed, compared to none one year ago. In addition, all of the 1.4 million square feet of new industrial space under construction is build-to-suit space, signifying recovery and a continued interest in Southern Nevada for industrial operators. “We predict that net absorption will slack off some in the latter half of 2013, but should remain positive for the year as a whole,” said Colliers International’s research director John Stater. “Asking lease rates should continue to rise, or at worst remain flat.” For the full report, CLICK HERE.