Southern Nevada’s industrial market got a small lift in the fourth quarter, with nearly a quarter million square of positive net absorption, said John Restrepo, principal of RCG Economics. The valley saw steady demand industrial space throughout 2011, with a total of 660,832 square feet of positive absorption. Vacancy rates dipped slightly to 16.1% in fourth quarter, which a half percent better than a year prior. “The valley’s industrial market is treading less water and modestly improving,” Restrepo said. “Competition for tenants remains fierce, but less fierce than what we saw in 2010.”Report: Industrial Sector Sees Small Uptick
Southern Nevada’s industrial market got a small lift in the fourth quarter, with nearly a quarter million square of positive net absorption, said John Restrepo, principal of RCG Economics. The valley saw steady demand industrial space throughout 2011, with a total of 660,832 square feet of positive absorption. Vacancy rates dipped slightly to 16.1% in fourth quarter, which a half percent better than a year prior. “The valley’s industrial market is treading less water and modestly improving,” Restrepo said. “Competition for tenants remains fierce, but less fierce than what we saw in 2010.”
