Valley office rents drop by nearly 10 percent

June 2009
Las Vegas Business Press (10712186);6/1/2009, Vol. 26 Issue 22, pP18
The article reports on a decline in office market performance in Southern Nevada in the first quarter of 2009. The Las Vegas, Nevada-based economic research firm Restrepo Consulting Group reported that vacancies reached a record 20 percent while rents declined by nearly 10 percent. According to John Restrepo, a member of the Nevada Economic Forum, developers ignored the warning signs about the declining job market and continued building office product.


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