LAS VEGAS, Nev. – January 10, 2023 – Cushman & Wakefield announced the firm has advised the sale of a 17,763-square-foot office in Las Vegas, Nevada. This single-story building, located at 1491 Center Crossing Rd, was vacant at the time of sale. The buyer was Las Vegas-based Fasteners, Inc., a professional contractor supply company, which acquired the property for approximately $5 million ($281/SF) for its own business use.
The seller was a joint venture between the WG Group’s Benjy Garfinkle and Andrew Dunn and The Krausz Companies.
Cushman & Wakefield’s Marlene Fujita Winkel, Emily Brun, and Alex Casingal represented the seller in the transaction. Of note, this was the third time that Fujita Winkel has been involved in selling the property; first for the original developer, then on behalf of the next owner/investor, and now on behalf of the third owner (seller).
“This was a unique opportunity to acquire a high-quality office asset within the Summerlin master planned community which has been considered one of the fastest-selling master planned developments in the U.S. during the last two decades,” said Executive Director Marlene Fujita Winkel.
“The property was previously occupied by an established payment processing company. Since their departure, the seller returned the space to shell condition providing a “blank canvas” that the new owner/occupier will utilize to suit its office needs. The building has been meticulously maintained throughout each ownership,” added Fujita Winkel.
The team’s competitive marketing process yielded an extremely qualified user, who will utilize the building as their office headquarters to complement their warehouse in North Las Vegas. “The owner/user buyer pool remains strong throughout the Las Vegas office market, with quality assets such as 1491 Center Crossing Rd in high demand,” said Senior Associate Emily Brun.
Built in 2004, the freestanding building is situated on ±1.74 acres and is located west of Summerlin Parkway and Towne Center Dr within the ±25,000-acre Summerlin master planned community. Summerlin Parkway is a connecting route which joins the US-95 and I-215 freeway. Harry Reid International Airport is also proximate. The property sits within a popular business and employment center known as the Crossing Business Center and is surrounded by several large corporate users.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
