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2021 Q2 Las Vegas Office Market Research Report

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Recovery Underway

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  • 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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2021 Q2 Las Vegas 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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Aaron West

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Aaron and his  team provide best in class service and results to their clients, including owners, occupiers, investors and developers.  The team accomplishes this through dedication to the constant pursuit of improvement, and by creating unsurpassed intellectual capital within the market.

With more than 10 years of leadership experience in business development and lead generation, he brings a robust skillset and comprehensive industry knowledge to Colliers including technology delivery, platform optimization, marketing and research, labor market intelligence, leasing solutions, and transaction reporting systems.

Prior to joining Colliers, Aaron  served as a Vice President for CBRE where he was a leader on one of the firm's top producing multi-market brokerage teams, representing both national and international corporate clients.

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