Coldwell Banker Premier Realty

Las Vegas Commercial Real Estate Report


A detailed analyis of Commercial Assets in Las Vegas
Posted: September 29, 2010 by John McClelland

We have just concluded our study of commercial real estate trends in Las Vegas. There are several takeaways from the report.
   

  • Distressed properties, reflect weakened fundamentals and deleveraging, leading prices downward.
     
  •  Industrial buildings are approaching the same price-per-square foot that they were near the beginning of the decade.
     
  •  Many office sector businesses have downsized or gone out of business and the existing demand seems to be coming from building users already in the market place.
     
  • Visitor volume, a key gauge of the health of the local economy, has regained some footing although gaming revenues have yet to demonstrate a perceivable recovery. 
     
  • Retail sales do appear to be showing signs of bottoming out.
     
  • Vacant buildings, many of which are in grey shell, must be bought with deep discounts as the lease-up period is going to be prolonged.
     
  • Like residential, commercial real estate values are being driven to decade lows. As a result, national reports are listing Las Vegas as one of the best places to purchase real estate. 



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