Las Vegas 2021 | June thru August
Summer Sales Soar.
- Cap Rates compress by 40 basis points from 5.85% to 5.45%, including a 3.5% trade in Henderson for a NNN leased institutional-quality asset built in 2016.
- Unsurprisingly, considering our stalled economic engine last summer, sales volume increased by 150%, and pricing increased by 22%.
- The Southwest & Henderson submarkets lead pricing averaging over $205/SF. The opening of Allegiant Stadium and the emergence of West Henderson play roles.
| Total Sales | 2020 | 2021 |
|---|---|---|
| All Submarkets | 18 | 45 |
| North | 11 | 12 |
| Henderson | 3 | 7 |
| Southwest | 3 | 17 |
| Airport | 1 | 9 |
| Buyer Type | 2020 | 2021 |
|---|---|---|
| User - All Submarkets |
12 | 23 |
| Investor - All Submarkets |
6 | 22 |
| Average $/SF* | 2020 | 2021 |
|---|---|---|
| All Submarkets | $147 | $180 |
| North | $137 | $137 |
| Henderson | $148 | $207 |
| Southwest | $160 | $205 |
| Airport | $212** | $170 |
*Not adjusted for coverage. **Single sale.
This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty, or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction on the suitability of the property for your needs.
Eric Larkin
Mr. Larkin joined NAI Vegas in 2013 with 7 years of experience coming from a regional brokerage firm specializing in representing institution landlords, REITs, insurance companies, lenders, receivers, and developers. Mr. Larkin’s extensive knowledge and understanding of investment analysis, property valuations, and lease negotiations has resulted in the completion of over 100 million dollars in transactions including leases, REO and distressed debt sales, trustee sales, and short sales.
Michael Kenny
Michael is well versed in Real Estate and brings a unique background of finance and civil construction to his clients along with proven results and an unrivaled level of service. He works diligently with his clients to identify every opportunity, add value, and continually cultivates each relationship to help achieve their goals.
Leslie Houston
Leslie Houston joined NAI in 2018 after seven years of experience with a third party commercial real estate database, formerly known as one of the Top 2 commercial real estate information providers. Leslie came to Vegas with an extensive real estate network from coast to coast. She possesses a very unique subset of skills which includes all property types, all listing types, analytics, and research. Coaching, supervision, and customer service have been major components throughout Leslie’s career and are proving to directly relate to her new role within the Larkin Industrial Group.
Erik Sexton
Erik Sexton joined NAI Vegas in 2017 as a Senior Vice President and Industrial Specialist. He has more than 14 years experience in the leasing and sales of industrial and office spaces. During his real estate career, Mr. Sexton has represented a diverse segment of location and national companies that include Genesis Gaming, SME Steel, Ice Now, High Impact Signs, Next Century Rebar, JAMO Performance Exhaust, Chicago Exhibit Productions, Coca Cola, and 99 Cent Stores Only.. As a licensed agent, he has brokered more than 1.8 million square feet of commercial space totaling more than $179 million.
Bryan Houser
Bryan specializes in the representation of landlords and tenants in the leasing, acquisition, and disposition of Industrial and Office properties throughout Southern Nevada and the Southwestern U.S. He recently completed the NAIOP Developing Leaders program and attributes much of his success to his “client first” focus; ensuring that his clients’ needs are placed above all others and the outcomes are in their best interest. “I get satisfaction from providing a smooth successful transaction for my Landlord, Tenant and Investment clients, and in knowing they are satisfied with the outcome of the deal.”
About NAI Vegas and NAI Excel
NAI Excel and NAI Vegas are leading providers of commercial Real Estate Services in the West. Operating as NAI Vegas in Nevada, and NAI Excel in Utah and Idaho, we are part of the NAI Global network covering nearly every major market nationally and across the globe. Serving both urban and rural markets, we leverage our resources to help you excel in your real estate goals. When you work with one of our team, you get the benefit of working with all of us.
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 375 offices strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with 6,000 local market professionals, managing in excess of 1.15 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. To learn more, visit http://www.naiglobal.com