Las Vegas office market report

Q2 2025

235K

Net absorption 

Las Vegas saw a significant rebound in net absorption in Q2 2025, totaling ±234,995 square feet, a sharp increase compared to the previous two quarters.
$30.91

Asking rents

Average asking rents in the Las Vegas office market are stable at $30.91 per square foot, bolstered by consistent year-over-year increases and high rates in submarkets like Summerlin, the Southwest, and Downtown.
80.6%

Return to office 

Las Vegas is seeing a strong return-to-office trend, with the labor force going into the office at 80.6% of pre-pandemic levels, well above the U.S. average of 60.4%.

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