Southern Nevada’s office market just keeps on keeping on. Not as dramatic as the industrial market, the office market managed to record yet another quarter of recovery in the first quarter of 2017. Net absorption was 127,479 square feet in the first quarter, an improvement from last quarter. This took vacancy down to 17.0 percent, an improvement from the peak of 22.5 percent five years ago. Vacancy rates in more desirable product are lower than 17.0 percent. Asking rates took a break from their steady upward climb and dropped to $2.02 per square foot (psf) on a Full Service Gross (FSG) in the first quarter.