Las Vegas property markets show improvement
Recently, California Public Employees’ Retirement System made a billion-dollar buy in the Las Vegas market; a market that is not known for billion-dollar deals.
Let’s take a closer at this tertiary market. Las Vegas remains strong and is not showing signs of slowing down, according to Colliers International’s third quarter Research and Forecast Report Las Vegas: Economic Review.
The Las Vegas office market continues to improve at a steady rate, according to Colliers. The office vacancy rate continued its three-quarter downward trend, hitting 17.1 percent in the third quarter, 1.1 points lower than one year ago. The office market had 210,859 square feet of net absorption during the third quarter, bringing net abso