Las Vegas Commercial Real Estate

John Vanhara

I am amazed how expensive commercial real estate become in Las Vegas during the last three years. When I was purchasing office buildings as an investment in 2003 I paid about $100-$120 per sq. foot. Residential was booming and got quickly from around $100 to $200.

Now we have year 2007. Residential is cooling off. I bet it will get much lower from today’s high. But commercial is breaking records. You can see gray shell office buildings starting at $220 per sq. foot and finished space around $300. Sometimes even more. This really sounds too crazy for my taste.

Las Vegas is becoming more expensive than Southern California. Go to places like Torrance where you are 5 miles from the beach and you can buy commercial buildings cheaper than in Las Vegas. What area has bigger and longer potential? What do you think?

This entry was posted on Friday, February 2nd, 2007 at 5:43 am and is filed under RE Investments. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.