Skip to main content Skip to footer

2021 Q4 Las Vegas Office Market Research Report

Download Report
Office Hero Image

LV Office Recovers from the Lockdowns

MR_LAS_21Q4_OFC_175x227 
  • Office vacancy at lowest level since Great Recession
  • Net absorption highest level since 2018
  • Asking rents increase to $2.27 psf FSG

Southern Nevada’s office market completed its recovery from the 2020 lockdowns in the fourth quarter of 2021, with vacancy decreasing to 13.3%, which was not only lower than its pre lockdown rate of 13.6%, but also the market’s lowest vacancy rate since before the Great Recession. Asking rental rates increased to $2.27 psf on a full service basis.

 

Have future reports delivered directly to your inbox - click here to subscribe to this and other regional e-mail delivery lists.


alt=""

2021 Q4 Las Vegas Office Market Research Report

Download Report
Related Experts

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.

 

View expert

Aaron West

Managing Director

Las Vegas

Colliers in Las Vegas is a full-service commercial real estate firm, providing integrated services to clients locally and globally.  As Managing Director, Aaron West manages brokerage operations and service lines in Las Vegas with a key focus on new business development, talent recruitment and retention.

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.

View expert