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May 22, 2024
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Private Investor Snaps Up Vegas Office Building


A private investor purchased an 8.4k sf office building in Las Vegas from Manley Grier Investments for $3.3 mil, or $393/sf.

The one-story building is located at 1100 Grier Ave in the citys Airport submarket, near Interstate 15 and Clark County Road 215. The property was originally built in 1989 and was remodeled in 2021.

CBREs Travis Landes, SIOR, Michael Hsu and Marc Magliarditi, CCIM, SIOR, represented the seller in the transaction. According to Landes, the building is a prime value opportunity that received a number of inquiries from a variety of owner users in the region.

According to CBREs Spring 2023 U.S. Office Occupiers Sentiment Survey, office attendance levels at 60% of surveyed companies have reached a long-term steady state, up from 43% last year. Those new steady-state attendance levels are often lower than before the pandemic. Still, 38% of companies anticipate their attendance levels to increase in the future.

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