Las Vegas Office Market Report
First Quarter 2025
Inventory
Total office inventory in the Las Vegas market area amounted to 68,863,646 square feet, up 68,755,925 square feet from one year ago. There are currently 738,911 square feet under construction.
Sale Activity
In the First quarter, 95 office transactions closed with a total sales volume of $201,651,147. The 95 buildings totaled 2,014,325 square feet and the average price per square foot equated to $261.78 per square foot. The average Cap Rates were 7.3%.
Tallying all office building sales.
Mark of a Market.
One of the largest transactions that occurred within the Las Vegas market was the sale of 9960 Cheyenne Avenue. This 64,033 square foot office property sold for $300,00 or $4.69 per square foot. The property was sold on 3/17/2025 . The Buyer was 9960 Cheyenne Office LLC. The Seller was TT Vegas Holding Company LLC
The information in this post has been sourced by and is credited to ©2025CoStar Group, Inc.
