Southern Nevada’s medical office market only posted negative 98,115 square feet of net absorption in 2014, resulting in 18.3% vacancy rate or a 1.4 percentage point increase over the fourth quarter of 2013, said Colliers International Las Vegas research manager John Stater. No new medical office product is either planned or under construction. Yet, asking rents for medical office increased, strangely enough, over the past year to $2.13 per square foot on a full service gross basis. For more information, CLICK HERE.
