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2020 Q1 Las Vegas Medical Office Market Research Report

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A Healthy First Quarter, But What Next?

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  • Vacancy decreased to 10.3 percent in the first quarter of 2020
  • Net absorption showed marked improvement over last quarter
  • The average asking rental rate decreased to $2.28 psf FSG

After a healthy showing in 2019, Southern Nevada’s medical office market got off to a quick start in 2020. Vacancy decreased to 10.3 percent on 117,185 square feet of net absorption, reversing signs of a slow-down in medical office demand. Asking rental rates decreased to $2.28 per square foot (psf) on a full service gross (FSG) basis this quarter.

 

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2020 Q1 Las Vegas Medical Office Market Research Report

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John Stater

Research Manager

Las Vegas

John has managed the research and GIS (Geographic Information Services) departments at Colliers’ Las Vegas office for more than two decades. During that time he has been collecting, analyzing and reporting on the commercial real estate market of Las Vegas, NV, building the research department at Colliers International's Las Vegas from the ground up, establishing a database of properties, availabilities and lease and sales comps with over 20,000 records covering the industrial, office, retail, land, multifamily, hospitality, medical office markets, as well as Southern Nevada's economy in general. He also writes for the Vegas CRE Insider blog. As his office's GIS manager, he produces local, regional and national maps.

In his spare time, John writes, designs and publishes games and does freelance work in the game industry and economic research.

 

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