Las Vegas Office Market Report
Third Quarter 2024
Inventory
Total office inventory in the Las Vegas market area amounted to 68,575,527 square feet, up from 68,241,229 square feet one year ago. There is currently 821,883 square feet under construction.
Sale Activity
In the Third quarter, 41 office transactions closed with a total dollar volume of $91,080,343. The 41 buildings totaled 468,977 square feet and the average price per square foot equated to $306.86.
Mark of a Market
One of the largest transactions that occurred within the Las Vegas market was the sale of 851 Rampart Boulevard. 51,339 square foot office property sold for $21,000,000 or $409.05 per square foot. The property was sold on 7/16/2024. The Buyer was Woodside Health. The Seller was Local Asset Management.
The information in this post has been sourced by and is credited to ©2024 CoStar Group, Inc.
