The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 29, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



TEXAS/SOUTHWEST NEWS
Printer-friendly Version   Email an Associate
Dornin Investment Group Acquires 104k sf Las Vegas Office Asset

1/20/15

Dornin Investment Group has obtained $18 mil in financing for the acquisition and lease‐up of City Centre Place, a six‐story, Class A office building totaling 104k sf in Downtown Las Vegas. The money was provided by PCCP LP.

Built in 2002, the property is located at 400 South 4th St and is 71 percent occupied. It is well-located between the County Courthouse, the Federal Courthouse, and the US Bankruptcy Courthouse.

“PCCP’s loan not only provides acquisition financing but will also provide funds for capital improvements, tenant improvements, and leasing commissions for the remaining vacancy,” said Mike Johnson, associate vice president with PCCP LLC. The transaction marks the third deal PCCP and Dorning Investment Group have done together.

The Las Vegas economy continues to climb out of the recession with job growth increasing three percent year‐over‐year. The overall 35 msf Las Vegas office market recorded its 11th consecutive quarter of positive net absorption. Class A buildings throughout Las Vegas have seen strong absorption and have increased their asking rents over the past few years as the market recovers. City Centre Place, and the overall Downtown Las Vegas market are anticipated to benefit from stable demand drivers from growing businesses who are seeking quality properties, as well as a lack of new construction.





Return to the Archive page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media