CBRE announced the $2.6 million sale of a 11,604-square-foot, single-tenant office building located at 7408 West Sahara Avenue in Las Vegas to a private investor.
Tyler Ecklund, James Griffis, Britney Arredondo and Randy Broadhead of CBRE represented the seller and were able to achieve full asking price.
The property is a free-standing, two-story building leased to Bertoldo, Baker, Carter & Smith Attorneys at Law under a triple net (NNN) lease. The attorneys are well known for quality legal representation for Nevada residents for the past 41 years. They specialize in personal injury, automotive, motorcycle and aviation accidents, wrongful death, worker compensation and medical malpractice.
“The property received strong interest and several offers due to its ideal location along an established business corridor coupled with a highly improved interior that reflects a truly professional and sophisticated workspace,” said Mr. Ecklund.
The property is located less than seven miles from the Las Vegas Strip in the Central West submarket, offering visibility along Sahara Avenue. It is in proximity to several master-planned communities, including Summerlin, Peccole Ranch, Canyon Gate and The Lakes.
A recent survey of commercial real estate investors ranked Las Vegas 16th among U.S. metros targeted for investment. CBRE’s 2021 Americas Investor Intentions Survey found that more investors are prioritizing secondary markets in 2021 (as opposed to gateway markets), particularly those with strong job and population growth prospects, which can translate into greater potential for both equity and income growth.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
