St. George-based real estate company NAI Excel and its Nevada affiliate, NAI Vegas, have released their 2022 midyear commercial real estate market report, which covers commercial real estate activity along the I-15 corridor in Utah and Nevada. The report highlights recent trends in office, industrial, retail and multifamily markets in Southern Nevada, Southern Utah, and along the Wasatch Front. The latest release marks the 30th edition of the publication.
According to the report, buyers of commercial real estate continue to experience limited availability and historically high sales prices in the first half of 2022.
“Although cap rates have increased slightly since last year, lease rates are up for nearly every property type and vacancy rates are holding near decade lows for most asset classes,” said Jon Walter, chief operating officer at NAI Excel.
The report details that the Federal Reserve is undertaking a deliberate strategy to contract the money supply and slow demand to reduce inflation.
“We expect the Fed to continue tightening policy until they see a sustained slowdown in inflation,” said Todd Manning, managing broker for NAI Vegas. “Once inflation returns to more neutral levels, and depending on the state of the economy, we may even see the Fed start to ease policy.”
“Despite ongoing changes to fiscal policy, we are confident in the long-term opportunities along the I-15 corridor,” report authors said.
The full report can be accessed at https://excelcres.com/market-research/.