The Investment Services Group at Sun Commercial Real Estate, on behalf of the Buyer and Seller, is pleased to announce the recent Sale of a multi-tenant trophy office building located in Las Vegas, Nevada. The property traded for $12.7 Million – $215 PSF.
Closing Highlights
Class A 58,917 SF Multi-Tenant Trophy Office Building
50% of the building was a sale-leaseback with long term leases put in place
Generated a motivated 1031 Exchange Buyer from our pool of committed investor relationships
Strategically positioned the asset by conducting deferred maintenance repairs, unfinished tenant improvements and negotiated six long term lease extensions securing long term stable cash flow
“We were able to successfully position the building to minimize any risk to the long term cash flow of the asset. This transaction required an experienced investment sales team and a well executed plan to achieve the desired outcome.” – Roy Fritz, Senior Associate of Sun Commercial Real Estate and lead on the transaction.
