Industrial Property to See Continued Investor and Tenant Demand – Interview With: Tyler Mattox
How would you best describe the state of the industrial market in Southern Nevada? It’s very healthy. However, our perspective does differ from the larger, logistics-based developers and investors. Our tenants tend to be more granular, smaller, with lower credit. Our occupancy rate across our portfolio is around 97%, which is very favorable for return rates. We are seeing some pushback on rental increases from our tenants, but that hasn’t resulted in meaningful vacancies as of yet. That’s not to say that it may not happen in the future. As rents increase, some occupiers may start to get priced out of the market.