The Industrial Advisor podcast hosts, Bill Condon and Matt McGregor, welcome guest Dan Doherty from Colliers to discuss the industrial real estate market in Las Vegas. Doherty reflects on his background and the history of the Las Vegas market. They discuss the significant growth in the market over the past years, which has resulted in high levels of demand and unprecedented investment from institutions. The market expects an influx of 16 million square feet of industrial space over the next four quarters, which is likely to raise the vacancy rate and create opportunities for tenants seeking expansion. They also touch on the potential influence of the sports entertainment sector. Finally, Doherty provides his predictions for the market heading into 2024.

Dan Doherty, SIOR | [email protected] | Direct: +1 702 836 3707 | Mobile: +1 702 809 1000

Key Moments:

00:35 Guest Introduction: Dan Doherty

02:12 Dan's Journey to Las Vegas

02:36 Impact of Mafia in Las Vegas

05:57 Water Crisis in Las Vegas

09:08 Industrial Market Dynamics in Las Vegas

10:42 Future Supply and Demand in Vegas Market

21:37 Impact of Sports and Entertainment on Vegas Market

23:54 Raising a Family in Vegas

26:05 Predictions for the Vegas Market

27:39 Closing Remarks