Sun Commercial Starts Off the New Year with Strong Activity

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The Investment Services Group at Sun Commercial Real Estate, Inc. is proud to announce the sale of 6325 S. Rainbow Boulevard. This 104,795 SF Class A office building is home to several national credit tenants. The Property sold for $33,000,000 or $315 per SF.

Closing Highlights

  • Trophy Class A 104,795 SF Multi-Tenant Office Building with 89% National Credit Tenants
  • Sun Commercial’s Investment Services Group sold the building as a bank REO and again this year as a stabilized trophy investment
  • Sellers successfully transitioned this asset from a primarily vacant REO asset to a 100% fully stabilized investment grade property
  • National Reach – Generated extremely well qualified East Coast Buyer

“The office market has been the last to recover from the great recession in Las Vegas. Buyers from all over the U.S. and the globe are now looking at Las Vegas as an excellent investment opportunity. We expect this momentum to continue to build.” – Cathy Jones, CPA, SIOR, CCIM, CEO of Sun Commercial Real Estate and lead on this transaction. The Investment Services Group is comprised of Cathy Jones, Roy Fritz, Jessica Cegavske and Jennifer Lehr.

OTHER TRANSACTIONS INCLUDE:

The Sale of a single tenant retail building was completed on January 5, 2018. The 3,960 square foot property is located at 1331 W. Craig Road, North Las Vegas, NV 89032. The total value of the transaction was $3,840,000.00. Cathy Jones, Roy Fritz, Jessica Cegavske and Jennifer Lehr of Sun Commercial Real Estate, Inc. represented the Seller, BSWC Properties, LLC – Craig Series and Aegis REI Group represented the Buyer, Mehran Alagheband.

The Ground Lease with Green Valley Grocery was completed in January 2018. The .93 acre vacant parcel is located at the NEC of Windmill and Decatur in Clark County (APN 177-07-401-011). The total value of the transaction was $1,692,062.40. Rob Moore of Sun Commercial Real Estate, Inc. represented the Tenant, Green Valley Grocery and Tami Campa Realty represented the Landlord, LD Properties.

The Lease with Medical Enterprises was completed on January 1, 2018. The 3,424 square foot office space is located at 8084 W. Sahara Avenue, Suites B,C,H, Las Vegas, NV 89117. The total value of the transaction was $180,758.88. Paul Chaffee, Wil Chaffee and Debbie German of Sun Commercial Real Estate, Inc. represented the Landlord, Sahara Plaza, LLC and the Tenant was unrepresented.

The Lease with Advanced Neuro Connections was completed on January 1, 2018. The 2,945 square foot office space is located at 4325 N. Rancho Drive, Suite 150, Las Vegas, NV 89130. The total value of the transaction was $92,031.25. Lisa Hauger and Timothy Erickson of Sun Commercial Real Estate, Inc. represented the Landlord, Deichler Exempt Lifetime Trust and Albright Callister & Associates represented the Tenant, Advanced Neuro Connections.

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