Las Vegas, NV Office Overview
Las Vegas ranks among the top three cities in the U.S. for business conventions and has more AAA Five Diamond hotels than any other city in the world. With a gross metropolitan product of almost $100 billion annually, there is robust demand for Class A space in the metro area. Nearly 52% of the office space here is Class A or A+, while Class B space brings an additional 47% of inventory to the Las Vegas commercial real estate market.
Las Vegas’ office market includes the Amber Hills, Canyon Gate, and Doc Romero Park submarkets. With a metropolitan population of over 2.1 million people, local economy is driven by the convention, tourism, and gambling businesses, which generate a winning demand for Class A office space in the metro area.
Las Vegas, NV Office Inventory Description
As of mid-2017 the Greater Las Vegas market encompasses over 20 million square feet of existing office space in properties larger than 50,000 square feet. Known alternately as 'The Entertainment Capital of the World' and 'Sin City', it also serves as the financial, commercial, and cultural center for the State of Nevada.
Prime property in the city is on the list of many international investors, and the Downtown Las Vegas submarket in the city continues to see global demand for the Class A space. Located along Las Vegas Boulevard and the South Grand Central Parkway, trophy office buildings such as City Centre Plaza, Bank of America Plaza, and Bonneville Square at 530 South Las Vegas Boulevard call the area home.
Las Vegas, NV Commercial Inventory Breakdown
Office Spaces
Total: 28,866,637 SF
By square footage range:
- 50k to 100k SF: 11,485,675 SF / 39.79% of total office
- 100k to 500k SF: 15,733,462 SF / 54.5% of total office
- 500k to 1M SF: 507,500 SF / 1.76% of total office
- > 1M SF: 1,140,000 SF / 3.95% of total office
By class:
- Class A: 12,292,609 SF / 42.58% of total office
- Class B: 12,703,060 SF / 44.01% of total office
- Class C: 1,242,554 SF / 4.3% of total office
Top 10 Largest Office Buildings
in Las Vegas
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| The UNLV - Future Development | NEC Durango Drive & Sunset Road, 89113 | 1,140,000 | n/a |
| The Grid | SEC East Clark Avenue & South Main Street, 89101 | 507,500 | n/a |
| The Village | NWC Saint Rose Pkwy & Spencer Street, 89183 | 340,000 | 2021 |
| The Lakes Campus | 8725 West Sahara Avenue, 89117 | 314,631 | 1984 |
| Zappos Headquarters | 400 Stewart Avenue, 89101 | 300,000 | 1973 |
| NV Energy Pearson Building | 6226 West Sahara Avenue, 89146 | 270,000 | 1982 |
| Rancho Gowan Business Park | 3600 North Rancho Drive, 89130 | 246,585 | 1999 |
| IGT North American Gaming & Interactive Headquarters | 6355 South Buffalo Drive, 89113 | 222,268 | 2007 |
| Rainbow Sunset Pavilion - Building B | 6385 South Rainbow Blvd, 89118 | 215,940 | 2009 |
| MountainView Hospital - Medical Office Building | 3150 North Tenaya Way, 89128 | 209,806 | 1995 |
Most Recently-Built Office Buildings
in Las Vegas
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| UNLV Harry Reid Research & Technology Park - Building 1 | 8400 West Sunset Road, 89113 | 111,000 | 2019 |
| Deaner Law Building | 720 South 4th Street, 89101 | 35,000 | 2019 |
| Aristocrat Technologies Campus | 10240 West Flamingo Road, 89147 | 180,000 | 2018 |
| Credit One Bank Headquarters | 6801 South Cimarron Road, 89113 | 152,000 | 2018 |
| Two Summerlin | 10845 Griffith Peak Drive, 89135 | 144,574 | 2018 |
| Mountain View Hospital Medical Office Building | 2880 North Tenaya Way, 89128 | 80,251 | 2017 |
| Blue Diamond Professional Plaza | 8828 Mohawk Street, 89139 | 27,755 | 2017 |
| Federal Justice Tower | 501 South Las Vegas Blvd, 89101 | 158,000 | 2016 |
| 8350 Briova Drive | 8350 Briova Drive, 89113 | 109,512 | 2015 |
| One Summerlin | 1980 Festival Plaza Drive, 89135 | 197,080 | 2014 |
Las Vegas, NV Green Office Space
With only 5% of commercial office space in the top 30 U.S. markets being green or energy efficient in 2005, that percentage has now skyrocketed to over 38%, according to the most recent National Green Building Adoption Index.
While Las Vegas wasn't in the top 30, with numerous energy-efficient and LEED certified projects in the pipeline, the city is gambling that the day will come when it makes the list.
The Molasky Corporate Center is an excellent example of how the city is working its way toward the top 30 list. Built in 2007, this 285,000-square-foot office building proudly boasts a LEED Gold certification. Located at 100 North City Parkway, the 17-story property includes first floor retail along with six parking levels.
Las Vegas, NV's Top Office-Using Sectors
Tourism, gaming, and the convention business are the primary drivers of the local commercial real estate market. But less high-profile businesses such as defense, government, hospitality, and healthcare also contribute to the demand for Class A space in the metro area.
- Defense – Nellis & Creech Air Force Base just outside of the city is one of the top five employers in the State of Nevada and attracts numerous support businesses.
- Government – The Clark County School District, Clark County Municipal Government, and the Las Vegas Metropolitan Police Department all help to create demand for employment in the area.
- Hospitality – MGM Resorts International, Caesars Entertainment, Wynn Resorts, and the Las Vegas Sands Corporation are just four of the many hospitality and convention-related businesses in the city.
- Healthcare – Valley Health System, Sunrise Health System, University Medical Center, and United Healthcare are also top organizations in the metro.
FREQUENTLY ASKED QUESTIONS
How much does office space cost in Las Vegas, NV?
The average office rental rate in Las Vegas, NV is $21.78 per square foot. Asking prices vary based on the property’s location, overall rating, amenities, proximity to restaurants, cafes and entertainment venues, as well as public transport, airports and highways.
What is the size of available office spaces in Las Vegas, NV?
The Las Vegas, NV office market can accommodate various businesses, sporting a range of office space availabilities. The average size of office space availabilities is 150,050 square feet. If you’re just starting out as a company or as an entrepreneur, the smallest available office space in Las Vegas, NV is 100 square feet, while the maximum rentable space on the market now is 300,000 square feet.
How do I get office space in Las Vegas, NV?
Start your search for office space in Las Vegas, NV by using our filters that allow you to find the best space for your business needs. Filter listings by location, property size, available space or lease rate. Property pages will offer details about an office building’s rating, year built, availabilities, price per square foot and more. After drawing up a shortlist, make sure you contact the listed broker(s) to schedule a viewing and begin the negotiation process for your lease contract.
How many office listings are available in Las Vegas, NV?
There are 589 office listings on the Las Vegas, NV market.
Las Vegas Demographics
Population
- Total Population626,637
- Male Population(50.0 %) 313,548
- Female Population(50.0 %) 313,089
- Median Age37.70
Income/Financial
- Average Household Income$76,483
- Median Household Income$54,694
- Median Income Under 25$33,093
- Median Income 25-44$57,665
- Median Income 45-64$62,125
- Median Income Over 65$43,521
News
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