Jump in Commercial Rents Expected
Author: Diana Heeb Bivona
What does the new year have in store for the Las Vegas Valley’s commercial tenants?
Most likely increases in rent — in some cases up to 15 percent.
“Potentially significant rent increases are expected during 2006 as leases expire and developers attempt to catch up to inflation,” said John Restrepo, principal of Restrepo Consulting Group.
When adjusted for inflation, the average monthly rents for commercial properties have remained relatively flat since 2001, despite healthy demand, a local research firm reported. (Continue)