A quick lesson about renting las vegas office space
The Entertainment Capital of the World, Las Vegas has brought businessmen from all over the world to its neon strips, each hoping to try their luck at the city's legendary gambling hub.
But investors are taking a gamble on Las Vegas real estate as well - and many of them are those same businessmen. While Casinos are the name of the game in Nevada's iconic town, with each gambling establishment comes a sea of shops, hotels and restaurants, each of them a prime piece of commercial real estate that can provide strong investment opportunities.
Likewise, offices in Las Vegas are also a central part of the property market. Businesses either directly or indirectly involved in the gambling industry need headquarters from which to operate, but Las Vegas is not just a hub for Casinos: it is also a hub for conferences. And with each new exhibition or meeting that takes places, more companies are introduced to the less seedy side of Las Vegas' personality.
Indeed, downtown Las Vegas is a popular destination for banking, finance and manufacturing firms. With organisations such as the Internal Revenue Service (IRS) relocating to a new downtown building in 2005, Las Vegas office space continues to be met with strong demand. Occupancy rates for commercial units were further boosted by the introduction of the Lou Ruvo Brain Institute, an academic medical Centre, nearby residential and office tower blocks and a new City Hall.
For these reasons, Las Vegas is a city of lights and nightlife but also much more. And for the right business, with US real estate prices (as of 2011) near all-time lows, not investing in serviced offices in Nevada's Sin City might well be a crime in itself.
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