- Office posts first significant post COVID net absorption
- Highest net absorption since 20q1
- Vacancy decreased to 14.6%
Southern Nevada’s office market posted its first significant net absorption since the business closures of 2020, with 295,218 square feet of additional occupancy in the second quarter of 2021. This is comparable to net absorption in the first quarter of 2020, just before the business closures took place. Vacancy decreased to 14.6% this quarter, while asking rents decreased slightly to $2.22 psf on a full service basis.
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