Las Vegas bucks national trend on demand for office space

https://vegasinc.lasvegassun.com/, feature a post discussing office trends and how they differ here in the Las Vegas, MSA.

By: Katie Ann McCarver

Though many major U.S. cities may be seeing lower demand for office space as remote and hybrid workplaces increasingly become the norm following the COVID-19 pandemic, experts say the commercial real estate market in Las Vegas is still going strong.

Office vacancy in Las Vegas is lower than traditional rates, said Marc Magliarditi, a first vice president at the commercial real estate firm CBRE. Magliarditi attributed the growth of tenants in Las Vegas office buildings to the expansion of professional sports in Southern Nevada, and the fact that it’s a more suburban market than cities that may rely heavily on public transportation.

“We’ve been fortunate here in Las Vegas,” he said. “That demand has been pretty steady, and I would even say strong … post-pandemic.”

Las Vegas is a growing, tax-friendly community with a good climate, which are just a few factors that might make it enticing for potential office tenants, said Jeff LaPour, founder and CEO of LaPour Partners.

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