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7/01/11
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Westcliff Plaza, a 134.9k sf mixed-use office development in Las Vegas, traded hands in a recent transaction valued at $9.2 mil, or $68/sf. Located at 201-401 North Buffalo Dr, less than one mile from Hwy 95, the property was purchased by Omninet Capital LLC.
Westcliff Plaza, which was built in 1994 to resemble a French country manor, sits on 3.54 acres. Eleven of the development’s 12 one- and two-story office/medical buildings were included in this sale, while the remaining building was sold as a condo in 1995.
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The property was sold by Trident Pacific Real Estate Group, as receiver for Bank of America on behalf of the registered holders of Morgan Stanley CMPC Series 2004-IQ8. Dan Vittone and Alan Pekarcik of Voit Real Estate Services’ Irvine office, together with Kit Graski of Voit’s Las Vegas office, represented both the buyer and the seller in the transaction.
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