The Las Vegas office market persevered as it inched towards picking up where it left off prior to the onset of the pandemic. Notable signs of a recovery include rising asking lease rates as well as an increase in pipeline projects (as suggested by the amount of new and planned construction for speculative office developments). Construction activity is expected to multiply over the next few quarters. Other evidence that the market is on the mend encompass the robust preleasing efforts within under construction projects in addition to the growing number of companies that are currently exploring the Las Vegas valley to home or expand their businesses.
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