The Las Vegas office market continued to see higher average asking lease rates and lower vacancy in Q4 2019.
Developers constructed 144,099 sq. ft. of new speculative office space in 2019.
With more than 1 million sq. ft. of office space in the construction pipeline, construction activity will increase over the next 2 years.
All nine submarkets experienced positive absorption in Q4 2019 with total net absorption for the market at 256,341 sq. ft.
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