Panattoni Pays $4 Million for REO Industrial Center

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Panattoni Pays $4 Million for REO Industrial CenterPanattoni Development Co. bought the Spring Mountain Wynn Business Center, on 9.5 acres, at the corner of Spring Mountain Road and Valley View Boulevard in Las Vegas for $4.1 million, or $1,518-per-acre, from the FDIC. The property, which includes a 2,700-square-foot warehouse/office building, has since been leased to Freeman Exhibit Services. Sun Commercial’s Lisa Brady, along with CB Richard Ellis’ Dallas office, represented the seller; Colliers International’s Pat Marsh represented the tenant in the lease.