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Las Vegas Office Building Trades for Record Price
Dornin Investment Group divested Marnell Corporate Center 4, a 93,650-square-foot Class A office building in Las Vegas, to Nidnats Corporation for $30.75 million. The $328-per-square-foot price is a record for a multi-tenant, non-medical office building in Las Vegas.
The 88%-leased building at 6750 Via Austi Parkway is adjacent to McCarran International Airport, and home to such firms as GSA/TSA; internet gaming and technology company Machine Zone, America Family Mutual Insurance, and HDR Engineering, Inc. Dornin acquired the asset in 2014, as part of a $39 million, three-building portfolio containing 176,960 square feet within the Marnell Corporate Center, a 493,000-square-foot master planned office campus.
The record sales price is more than 50% higher than the average for the market, according to seller’s attorney Mark Nicoletti of the Los Angeles-based Sklar Kirsh. Logic Commercial Real Estate represented the seller.
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- ◦Sale/Acquisition
