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September 29, 2022
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Kingsbarn Realty Capital Spends $114 Mil on Nevada Office Portfolio

9/22/22

Kingsbarn Realty Capital acquired Green Valley Corporate Center, a six-building office portfolio totaling 347k sf in Henderson, NV, for $114.5 mil, or $330/sf. The properties were sold by from JMA Ventures LLC and Blue Vista Capital Management LLC in what we’re told is the largest office portfolio sale in Henderson this year.

Green Valley Corporate Center is located near the intersection of Interstate 215 and St Rose Pkwy. It is close to several other retailers, restaurants, entertainment venues and fitness centers, including Life Time Athletic, Green Valley Ranch Resort Spa and Casino, Bath & Body Works and Shake Shack. The property was 94% occupied at the time of the sale.

Green Valley Corporate Center North consists of three Class A office assets:

• 2275 Corporate Circle, a three-story, 68.4k sf office building.
• 2285 Corporate Circle, a two-story, 45.3k sf office building.
• 2370 Corporate Circle, a three-story, 69.2k sf office building.

Green Valley Corporate Center South consists of three Class A office assets:

• 2475 Village View Drive, a two-story, 44.5k sf office building.
• 2485 Village View Drive, a three-story, 69.2k sf office building.
• 2495 Village View Drive, a two-story, 50.3k sf office building.

CBRE’s Tyler Ecklund, James Griffis, Brad Peterson, Darren Lemmon and Justin Witt represented the seller in the transaction.

“This Green Valley Corporate Center portfolio is part of a larger office portfolio adjacent to the I-215 beltway,” said Ecklund. “With the purchase of these six properties, new ownership has secured a significant presence within the master-planned community of Green Valley, an established submarket that is well sought after by tenants.”

According to CBRE Research, the Las Vegas office market posted positive net absorption of 376.9k sf in Q2 2022, a 319.6k sf increase from Q1 and an escalation of more than 292% from one year ago.





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