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LV property inventory rises

Friday, Jan. 12, 2001 | 11:12 a.m.

The inventory of retail, office and industrial real estate in Las Vegas grew in 2000, according to research by Lee & Associates Commercial Real Estate Services.

At the end of 2000, retail inventory -- neighborhood, community and power centers, but not shopping malls -- was at 26.3 million square feet, up 7 percent from the end of 1999.

The office market inventory was at 22.2 million square feet, an increase of 7 percent since the end of 1999.

The industrial market consists of 60.4 million square feet in 1,500 existing buildings, a 5 percent increase in inventory from the end of the previous year.

Company analysts say demand remains strong in all sectors and absorption and new construction should be up in 2001.

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