Searching Las Vegas office buildings for sale Southern Nevada’s office market extended its recovery in the second quarter of 2016, again posting positive net absorption.
An office building is a type of commercial building used for conducting business activities, such as meetings, conferences, and administrative work.
Commercial Las Vegas Real Estate
Office buildings are typically multi-story structures designed to house many offices, other workspaces, and common areas like lobbies, restrooms, and break rooms.
Office buildings can vary in size and style, depending on their location and the type of business they intend to serve.
Some office buildings are small, single-story structures designed to house just a few offices, while others are much larger and may have many floors and many offices.
Some office buildings are designed with a specific type of business in mind, such as law firms or financial institutions. In contrast, others are more general-purpose and can be used by various companies.
Office buildings may also have additional amenities like on-site parking, elevators, and security systems.
They may also include features like conference rooms, cafeteria or dining facilities, and fitness centers to accommodate the needs of those who work there.
Net absorption in the second quarter totaled 180,611 square feet, down from last quarter but a notable improvement from one year ago.
This brought vacancy down to 16.7 percent.
Las Vegas office buildings for sale completions increased this quarter over last to 164,663 square feet.
Asking rents decreased to $1.99 per square foot (psf) on a Full Service Gross (FSG) basis.
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Searching Las Vegas Office Buildings for Sale