Southern Nevada’s office market had a 19.3% vacancy in the third quarter, which is a 1.9% decrease from one quarter ago, reports Colliers International Las Vegas. Average asking rents remain consistent at $1.87 per square foot. There was 44,694 square feet of net absorption in the third quarter, which is up from one year ago. “Every year Southern Nevada’s office market begins a new recovery, and every year it comes up just a little short in the end,” said Colliers research manager John Stater. “While Southern Nevada works its way through its recovery and this transition, adjust your expectations.” For more information, CLICK HERE.
