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Las Vegas Medical Office Market Research Report Q3 2022

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Medical Market Very Healthy

MR_LAS_22Q3_MED_454x350

  • Medical office vacancy continued to decrease in Q3
  • Net absorption has been positive for seven quarters
  • Asking rents increased to $2.48 psf FSG

Southern Nevada’s medical office market has now had seven consecutive quarters of positive net absorption. Net absorption in the third quarter of 2022 was 21,913 square feet, slightly less than one quarter ago, but sufficient to bring vacancy down to a new low of 8.3%. The weighted average asking rental rate for medical office space increased this quarter to $2.48 psf on a full service gross (FSG) basis.

 

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Las Vegas Medical Office Market Research Report Q3 2022

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