Las Vegas Office Market Report
First Quarter 2019
Inventory
Total office inventory in the Las Vegas market area amounted to 65,876,883 square feet with 231,305 square feet under construction.
Sale Activity
In the first quarter, 12 office transactions closed with a total volume of $78,812,495. The total square footage in the first quarter was 716,300 square feet for an average price per square foot of $110.03.
Tallying office building sales of 15,000 square feet or larger
Mark of a Market.
One of the largest transactions that has occurred within the first quarter in the Las Vegas market is the sale of 1451 Center Crossings Rd. This 58,950 square foot office building sold for 19,900,000 or $337.57 per square foot. The property sold on 3/29/2019 with a recorded CAP Rate of 5.67%. The Buyer was a Family Trust. The Seller was Moonwater Capital.
The information in this post has been sourced by and is credited to ©2018 CoStar Group, Inc.
