Southern Nevada’s retail market saw 192,581 square feet of net absorption for 2014, an improvement over the prior year despite some shakiness, reports Matt Stater, research manager for Colliers International Las Vegas. Meanwhile, vacancy increased to 9.5%, which is 0.3% higher than in 2013 partly due to more retail construction. There was 343,313 square feet of new projects completed in 2014, compared to a meager 8,000 square feet of new retail construction the year prior. “If 2014 was the test for speculative retail development in Southern Nevada, it remains hard to say whether we passed or failed – maybe a solid ‘C,’” said Stater. “Nevertheless, more construction is on the way in 2015.” For more information, CLICK HERE.
