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December 15, 2017
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Vegas Office Campus Trades in $78 Mil Deal

10/05/17

In a sizable office investment buy out of Las Vegas, PCCP LLC and The Brookhollow Group teamed up in the purchase of Centra Point, a nine-building, Class A campus totaling 383.7k sf. The properties, located at 8311-8395 W. Sunset Rd and 6655 S. Cimarron Rd, fetched $78.3 mil ($204/sf).

Built between 2004 and 2006, Centra Point is situated on over 25 acres and is 72% occupied by diverse mix of tenants including Ticor Title, Tropicana Entertainment, Valley Health Systems and Dickinson Wright. The campus is composed of seven multi-tenant office buildings, two retail buildings and is served by ample onsite parking.

Kevin Shannon, Ken White and Brunson Howard with NKF Capital Markets represented the seller, Washington Capital Management Inc, on behalf of its clients. The buyers were self-represented.

“Centra Point is an institutionally maintained, Class A suburban office campus with scale, flexibility, and tremendous asset quality situated between the communities of Summerlin and Green Valley,” said Shannon. “The new ownership is acquiring Centra Point at a very opportune time with Las Vegas experiencing continued in-migration and business expansion that is positioning the city for long term, sustained growth. Having two major sports franchises locate to Las Vegas has also augmented this momentum.”

Located between the masterplanned communities of Summerlin to the northwest and Green Valley to the east, the Southwest submarket is one of the most sought after Las Vegas office environments. This central location provides Centra Point with proximity to both executive and workforce housing, making it the preferred destination for high growth businesses seeking to locate in the Southwest market.





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