Las Vegas industrial insight - Q2 2018

Development activity is concentrated in the Northeast and North Las Vegas submarkets. Land constraints are still a primary challenge, but some developers are taking additional risk in order to secure sites by going through the Bureau of Land Management’s bid process, which may or may not result in a successful acquisition. National players appear to dominate the local landscape, but the hot development market is creating a bullish environment with local players, too. Local developers are filling the gap on 3- 10-acre sites, feeding tenant demand for smaller product. With land sites becoming scarcer, developers are starting to look farther out to neighboring markets like Mesquite or Moapa for opportunities. 

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