• The Las Vegas office market continued to feel the effects of the COVID-19 pandemic resulting in -63,158 sq. ft., the second consecutive quarter of negative net absorption.
  • The overall vacancy rate increased by 20 basis points from Q2 2020 to 12.5%.
  • One project broke ground during the quarter bringing the total space under construction to 410,184 sq. ft.
  • Active industries to lease space during Q3 2020 include financial services, medical, and real estate sectors.