Southern Nevada’s medical office market posted its second straight quarter of positive net absorption in the fourth quarter of 2016, after net absorption dipped into negative territory over the four quarters previous. Net absorption was positive in 2016, at 24,693 square feet. This was significantly lower than the 149,292 square feet of net absorption recorded in 2015. Vacancy dropped to 16.5 percent at the end of 2016, down from 2015’s 16.8 percent vacancy, and down more substantially from the recent high of 17.9 percent recorded in the second quarter of 2016. The weighted average asking rental rate decreased to $2.15 per square foot (psf) on a full service gross (FSG) basis, $0.04 lower than at the end of 2015.