Las Vegas Office Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from Cushman & Wakefield, CBRE, Colliers
Quarterly office market indicators for Las Vegas, aggregated by CREhunt from Cushman & Wakefield, CBRE, Colliers. As of Q2 2026, average asking rent was $28.20/SF/yr and vacancy was 12.3%, per Cushman & Wakefield.
Projected current office pricing — Las Vegas
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Las Vegas office yet, so this applies the typical cap rate across comparable office markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q2 2026 multiple brokerages asking-rent data (benchmark cap rate 6.5%–8.6%, asking rent held flat). Assumes ~88% occupancy and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 Cushman & Wakefield | $28.20/SF/yr | 12.3% | — | — | Cushman & Wakefield |
| Q2 2026 CBRE | $30.72/SF/yr | 12.0% | 8K SF | — | CBRE |
| Q1 2026 Colliers | $30.00/SF/yr | — | 243K SF | — | Colliers |
| Q1 2026 Cushman & Wakefield | $28.20/SF/yr | 12.5% | 299K SF | — | Cushman & Wakefield |
| Q1 2026 CBRE | $30.84/SF/yr | 12.0% | — | — | CBRE |
| Q4 2025 Cushman & Wakefield | $28.68/SF/yr | 13.0% | 136K SF | — | Cushman & Wakefield |
| Q2 2025 Colliers | $37.27/SF/yr | 18.3% | 189K SF | — | Colliers |
| Q2 2025 Cushman & Wakefield | $28.44/SF/yr | 13.5% | 178K SF | — | Cushman & Wakefield |
Office asking rents by submarket
The newest asking rent a named brokerage's report published for each Las Vegas office submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| Airport | $2.58/SF/mo CBRE · Q2 2026 | CBRE, Q2 2026 |
| Central East | $2.39/SF/mo CBRE · Q2 2026 | CBRE, Q2 2026 |
| Central West | $2.29/SF/mo CBRE · Q2 2026 | CBRE, Q2 2026 |
| Downtown | $2.24/SF/mo CBRE · Q2 2026 | CBRE, Q2 2026 |
| North Las Vegas | $2.24/SF/mo CBRE · Q2 2026 | CBRE, Q2 2026 |
| Northwest | $2.68/SF/mo CBRE · Q2 2026 | CBRE, Q2 2026 |
| South | $2.36/SF/mo Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Southeast | $2.69/SF/mo CBRE · Q2 2026 | CBRE, Q2 2026 |
| Southwest | $3.09/SF/mo CBRE · Q2 2026 | CBRE, Q2 2026 |
| West | $2.99/SF/mo CBRE · Q2 2026 | CBRE, Q2 2026 |
How the brokerage sources compare
For Q2 2026, the brokerages CREhunt aggregates for Las Vegas office did not fully agree. On vacancy, the sources span 0.3 points — from 12.0% (CBRE) to 12.3% (Cushman & Wakefield). Asking-rent estimates differ by $2.52/SF/yr — from $28.20/SF/yr to $30.72/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.
| Source | Vacancy | Asking rent | Cap rate |
|---|---|---|---|
| Cushman & Wakefield | 12.3% | $28.20/SF/yr | — |
| CBRE | 12.0% | $30.72/SF/yr | — |
Per-brokerage figures for Q2 2026, aggregated from published brokerage market reports.
Frequently asked questions
- What is the average asking rent for office space in Las Vegas?
- As of Q2 2026, the average asking rent for office space in Las Vegas was $28.20/SF/yr, per Cushman & Wakefield.
- What is the office vacancy rate in Las Vegas?
- The office vacancy rate in Las Vegas was 12.3% as of Q2 2026 (Cushman & Wakefield).
- Where does CREhunt's Las Vegas market data come from?
- This report aggregates quarterly office market data for Las Vegas from Cushman & Wakefield, CBRE, Colliers.
- How much do brokerage estimates differ for office space in Las Vegas?
- For Q2 2026, the brokerage sources CREhunt aggregates for Las Vegas did not fully agree. On vacancy, the sources span 0.3 points — from 12.0% (CBRE) to 12.3% (Cushman & Wakefield). Asking-rent estimates differ by $2.52/SF/yr — from $28.20/SF/yr to $30.72/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.