Las Vegas Office Market Report
Second Quarter 2026
Inventory
Total office inventory in the Las Vegas market area amounted to 68,638,674 square feet, up 128,327 square feet from one year ago, reflecting a 0.19% increase. There are currently 456,634 square feet under construction, a decrease of 25,774 square feet (-5.34%) compared to this time last year.
Sale Activity
In the second quarter, 105 office transactions closed with a total volume of $222,336,512.
The 105 buildings totaled 1,194,730 square feet, and the average price per square foot equated to $214.06.
Current market Cap Rates are reported to be 8.4%.
Mark of a Market.
One of the most significant transactions that occurred within the Las Vegas market was the sale of 6950 S. Cimarron Rd. The property was sold on April 28, 2026, for $12,125,000. The building totaled 21,183 square feet and sold for $572.39 per square foot.
The Buyer was Block Real Estate Services LLC and the Seller was Crown MedRealty Partners.
The information in this post has been sourced by and is credited to ©2026 CoStar Group, Inc.
