|
|
4/09/26
|
South Rainbow Business Park, a 43.9k sf office property in Las Vegas, has landed a new owner after an $11.75 mil trade ($267/sf). The property is located at 5920 and 5940 South Rainbow Blvd, west of I-15 and north of Sunset Rd.
South Rainbow Business Park is fully leased to a diverse mix of professional and medical tenants. The property has had stable occupancy, with consistent leasing activity and minimal downtime between tenants since 2019.
The property offers convenient access to Clark County Route 215. It is close to several major healthcare facilities, including Spring Valley Hospital Medical Center, Dignity Health – St. Rose Dominican Hospital San Martin Campus and Southern Hills Hospital and Medical Center.
GPS LV Business Park, LLC acquired the property. CBRE’s Marc Magliarditi and Miranda Jennings represented the seller, South Rainbow Park Property Company LLC.
“The strong leasing momentum and the property’s long term stability made this a compelling investment opportunity,” said Magliarditi. “The buyer was attracted to the asset’s predictable tenant base and its strategic location near major medical centers and key transportation routes.”
According to CBRE research, the surrounding Southwest Las Vegas submarket has experienced significant growth, with retail properties within a two mile radius increasing 11.2% over the past five years and 14.1% when including projects under construction.
|
|
 Return to the previous page
|
|
|
|
|
Printer-friendly Version
Email an Associate
