Las Vegas Office Market Report
Second Quarter 2024
Inventory
Total office inventory in the Las Vegas market area amounted to 68,508,464 square feet, up 398,885 square feet from one year ago. There are currently 785,407 square feet under construction.
Sale Activity
In the second quarter, 28 office transactions closed with a total sales volume of $71,974,042. The 28 buildings totaled 395,000 square feet and the average price per square foot equated to $207.97 per square foot.
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 7250 Cathedral Rock Drive. This 32,126 square foot office property sold for $18,475,000 or $575.08 per square foot. The property was sold on 5/29/2024. The Buyer was Montecito Medical Real Estate. The Seller was Hammes Partners.
The information in this post has been sourced by and is credited to ©2024 CoStar Group, Inc.
