Las Vegas has become a hot spot for national retailers looking to expand their supply chain in the southwest United States. Over the past five years, thirty percent of the industrial inventory space by square feet has been constructed and in that short time frame, we have experienced some major firsts in the valley.
- First constructed building above 750,000 sq ft
- 2018 will give way to the groundbreaking of the first one million sq ft building
- Van Trust to build a first-of-its-kind, three-story BTS building for Amazon
- Global brands like Sephora, Smith’s Food and Drug Centers and The Honest Company have or will have a “big box” presence
This is a major post-recession shift in tenant and building make-up that is becoming the norm in Las Vegas. Developers and businesses are in constant discussion regarding the feasibility of having a significant presence in the valley.
The major drivers contributing to Las Vegas’ market:
- Accessibility to West Coast ports
- Quick transportation to major southwest markets
- Ease of doing business in Nevada due to our tax incentive structure and the ability to move projects through planning and local jurisdictions quickly.
The economy has lent itself to the spur of development and does not look to be slowing down anytime soon.
By: Brenden Graves, Director of Client Services