Office Space In Las Vegas

Reviews On Las Vegas Commercial Offices:

Las Vegas has a Central Business District vacancy rate of 14% for office space (over 19% city wide) and one of the higher costs per square foot ($33.11). Despite this, projects creating more office space are at a standstill, while hotel and casino construction is still receiving the bulk of what few dollars are available. Scheduled to open in December, 2009, City Center, with its $8.5 billion price tag, is one of the most massive projects. Covering 67 acres, City Center is more than a casino, offering hotel and condo towers and extensive retail space. The resort will add around 5,800 hotel rooms, and is the only large project that will be completed before 2010. Several others have been placed on hold due to financing issues, such as the $4.5 billion Echelon resort; others have gone into bankruptcy, with banks taking over the $3.5 billion Cosmopolitan Resort (which it hopes to complete during 2010) and the Fountain Bleu, which has cost around $2 billion so far and is less than three-fourths complete, and is going up for bids at a bankruptcy auction. Office spaces in Las Vegas have lost some of their demand (far as pricing which is the same thing that happened in Los Angeles, San Diego, Phoenix, and other nearby areas), the end of 2009 appears to be looking up in Vegas as the housing market is improving everyday. We also offer office space and executive suites in Summerlin, Henderson, airport locations, and central Vegas.

Las Vegas, Nevada Commercial Developments:

However, the public sector is not totally stagnant, unlike the commercial office space market in Las Vegas. The Smith Center for the Performing Arts is scheduled to open in 2012, offering a venue for music and theater performances. Part of Las Vegas’ effort to continue the development of downtown, the nearly five acre complex will feature a 2,000 seat main hall, with construction funding being provided from a number of sources, including bond money. This city of around 2 million plays host to nearly 40 million visitors each year, and so, it is not surprising that Las Vegas has one of the highest crime rates in America — 147 per 1,000 residents, which surpasses even St. Louis (134/1,000) and Detroit (79/1,000), the two cities most often named as having the highest crime rates. The Strip offers some of the most exotic attractions, such as Circus Circus, Caesar’s Palace, and the MGM Grand. The shows and shopping (and of course the casinos) draw huge crowds. But for a taste of “old Vegas”, the downtown area is still going strong, offering such classic accommodations as the Golden Nugget and another two dozen or so reasonably priced hotels. Downtown Las Vegas is also the site of the Fremont Street Experience, a free show that combines a dazzling display of lights with music and live entertainment. Office space in Las Vegas is available for any type of business (and sized company), but downtown Vegas is not really a hot spot for commercial real estate. All across the Las Vegas Valley, we offer temporary office spaces, serviced units, furnished units, and even monthly lease options.

Las Vegas Attractions and Economic News:

For a quieter time, Las Vegas offers several museums, including the Liberace Museum and the Nevada State Museum and Historical Society. The city is also home to one of the largest children’s museums in the country, the Lied Discovery Children’s Museum, which features over 100 hands-on exhibits. On the economic front, Las Vegas is holding its ground. Unemployment is at the 12% level, and job growth is a negative 4.1%, but new openings are expected to add 25,000 jobs within the next year which should help a lot. The city is highly dependent on the gambling and tourism trade, and as the nation pulls out of the recession, office spaces in Las Vegas and Reno will once again start flourishing.