LAS VEGAS-Office vacancy in the Las Vegas valley is on the increase. Depending on which firm crunches the numbers, office vacancy rose during the fourth quarter to somewhere between 12% and 16% from around 10% at the end of the third quarter.

Applied Analysis, a locally based business research and advisory firm, says 508,000 sf was completed during the quarter while absorption was 470,000 sf, taking the full-year totals to 3.4 million sf of new construction deliveries and 2.4 million sf of absorption, a one-million-sf miss that pushed vacancy to 12.4% from 10.8% at the start of the year.

A joint report by Colliers International and Restrepo Consulting Group LLC reports finds 1.1 million sf of space was delivered in the fourth quarter and absorption was half the total, pushing the year-end numbers to 3.8 million sf of new construction deliveries against 2.3 million sf of absorption, a 1.5-million-sf miss that pushed vacancy to 12.2% from 9.3% at the start of the year.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.