PRH XXXV LLC Bets on Class-A Office Building in Vegas for $67M
Premier Realty Holdings LP (PRH XXXV LLC) recently purchased a freestanding 204,123-square-foot class-A office building in Las Vegas. The San Diego-based private investment firm led by Marc Barmazel acquired the asset for $67 million.
The six-story building located at 2716 North Tenaya Way is 100 percent leased to United HealthCare Services for its regional office headquarters. The tenant, one of Nevada’s largest employers, has occupied the building since it was constructed in 1998 and has recently completed significant renovations to enhance the overall property.
Voit Real Estate Services’ Mike Bench represented the buyer in this transaction. Rick Reeder, Brad Tecca, Marlene Fujita and Charles Moore of Cushman & Wakefield represented the seller.
“This asset presented a tremendous Las Vegas investment opportunity of a class-A asset with a longstanding credit tenant,” said Bench. “Indicative of its commitment to the property, the tenant recently made significant interior, exterior and ongoing mechanical capital improvements to the property. The building is critical to the tenant’s operations, which it utilizes interchangeably as a single facility with the neighboring 2720 building it also occupies.”
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.