Las Vegas Office Market Report
Fourth Quarter 2025
Inventory
Total office inventory in the Las Vegas market area amounted to 68,933,488 square feet, up 384,972 square feet from one year ago, reflecting a 0.56% increase. There are currently 122,530 square feet under construction, a decrease of 3,334,432 square feet (-66.73%) compared to this time last year.
Sale Activity
In the fourth quarter, 55 office transactions closed with a total volume of $315,112,032.
The 55 buildings totaled 1,229,128 square feet, and the average price per square foot equated to $341.11.
Current market Cap Rates are reported to be 8.7%.
Mark of a Market.
One of the most significant transactions that occurred within the Las Vegas office market was the sale of 6795 S Agilysys Way – Narrative. The property sold on October 15, 2025, for $48,000,000. The building totaled 100,184 square feet and sold for $479.12 per square foot.
The Buyer was Narrative Properties LLC and the Seller was G2 Capital Development, with LaPour Partners as the true seller.
The information in this post has been sourced by and is credited to ©2025 CoStar Group, Inc.
