A Healthy First Quarter, But What Next?
- 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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