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3/06/24
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A recently constructed, 17.1k sf, 24-bed psychiatric hospital building in Las Vegas was acquired by Clark County in Nevada in a $10.4 mil ($608/sf) transaction. The building was completed in 2021 but has never been fully occupied.
The building is located at 5409 E. Lake Mead Blvd, approximately six miles from Mike O’Callaghan Military Medical Center situated on the Nellis Air Force Base. In addition, the property is situated approximately 10 miles from the VA hospital and 3.5 miles north of North Vista Hospital (177 beds).
Cushman & Wakefield’s Marlene Fujita Winkel, CCIM, Emily Brun, and Cody Seager of the firm’s Private Capital Group in Las Vegas collaborated with Travis Ives, Gino Lollio and Sushil Puria of the firm’s Healthcare Capital Markets Team and behavioral health expert, Ken Brown, of the firm’s Healthcare Advisory Practice, to represent a private seller in the disposition.
“This was a great opportunity for the buyer to acquire a rare, newly completed, turn-key behavioral health facility that is essentially fully built-out and equipped for immediate occupancy. Clark County, via its relationships, will be the occupant and will have the ability to add their own custom elements,” said Fujita Winkel. “The property is intended to help provide behavioral healthcare support to the community, and in an area where these services are underserved.”
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