Greenlite Partners Offloads Elite Las Vegas Office Property
The LaPour Corporate Center, a three-story, 67,145 square foot office building sold to a local private equity firm for $26 million. A recent CBRE report stated the $387 a square foot price paid by the buyer is one of the highest for a multi-tenant, Class-A office in more than ten years.
Cushman & Wakefield represented the seller, Greenlite Partners, a partner with the WG Group. Greenlite turned over the building, which was 97% leased, in a good state-of-affairs, “The seller retained the tenants, completed tenant improvements for additional tenants, and now the asset remains a key building achieving some of the highest lease rates for like-kind assets in the market,” said Marlene Fujita Winkel from C&W.
Built in 2008, the building is visible from the Las Vegas Strip and has easy access to Interstate 215. Greenlite has completed over $250 million in real estate transactions in Las Vegas since 2010.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.