CBRE announces the completion of 12 lease transactions at at Hughes Airport Center in a portfolio of properties owned by a joint venture of Oaktree Capital and CIP Real Estate. These lease deals were transacted over nine months, and collectively, represent more than 148,000 square feet of new occupancy at the center, a 3.3 million square-foot, master-planned office and industrial park strategically located adjacent Sunset Road in the Airport submarket. The bulk of these leases were transacted during first quarter 2016 and totaled more than 106,000 square feet with an aggregate lease value of over $6 million.
“Tenants in the airport submarket are looking for a combination of price, location, flexible office improvements and unit sizes, plus numerous nearby amenities,” said Kevin Higgins, executive vice president, brokerage industrial services, CBRE. “This dynamic has driven demand and generated signed deals at Hughes Airport Center.”
According to Garrett Toft, first vice president, brokerage industrial services, CBRE, the Las Vegas economy has picked up significantly, and new tenant demand is accelerating. “Correspondingly, both office and industrial space in the airport area is being absorbed very quickly with specific unit sizes now in short supply,” he said.
Lease transactions included:
- VeriFone, Inc., global leader in secure electronic POS solutions; 3,046 SF
- LabCorp of America, provider of leading-edge medical laboratory tests through a national network of laboratories; 731 Pilot Rd., Suite E; 7,755 SF
- Climatec, leading provider of advanced building technologies and energy solutions, 770 Pilot Rd., Suite I, 10,353 SF
- Credit One Bank, one of nation’s largest and fastest growing credit card issuers; 600 Bermuda Rd., Suite B, 17,493 SF
- Medical Transportation Management, manager of non-emergency medical transportation; 750 Pilot Rd., Suites G & H; 15,033 SF;
- North American Video, provider of complex security solutions primarily focused on the gaming industry; 731 Pilot Rd; Suite H; 15,299 SF
- Action Link, provider of unique in-store sales development model, logistical implementation and function built upon three pillars: Store Readiness, Staff Readiness and Shopper Readiness; 823 Pilot Rd., Suite D; 12,333 SF;
- Geotab, proven industry leader in fleet management and vehicle tracking technology, also known as telematics; 770 Pilot Rd., Suite A; 25,615 SF.
- Harris Consulting Engineers, provider of superior engineering services in HVAC, electrical, plumbing, architectural lighting and technology design; 680 Pilot Rd., Suite A; 8,045 SF.
- CanvasPop, the web’s most innovative provider of custom, high-quality canvas printing services; 831 Pilot Rd., Suites A-C; 24,665 SF
- Harman International, designer and engineer of connected products and solutions for automakers, consumers and enterprises worldwide, including connected car systems, audio and visual products; 815 Pilot Rd., Suite A; 3,025 SF
