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Service Properties Trust Sells Red Rock Resorts HQ for $57M
Service Properties Trust has sold the Red Rock Resorts, Inc. headquarters to an undisclosed buyer for $57M. JLL Capital Markets marketed the property and secured the undisclosed buyer of the 138,558-square-foot, single-tenant office property located at 1505 South Pavilion Center Dr. in Summerlin, NV, a suburb of Las Vegas.
The iconic property is adjacent to the AAA Four Diamond Red Rock Casino Resort and Spa, Downtown Summerlin, City National Arena, which is home to the Vegas Golden Knights of the NHL, and the Las Vegas Ballpark, home to the Las Vegas Aviators minor league baseball team.
The JLL Capital Markets team representing the seller was led by Senior Vice Presidents Tivon Moffitt and Peter Bauman, and Executive Vice President Bret Davis.
“JLL has been very active with single-tenant office product in the Las Vegas market, which is continuing to experience booming economic and population growth with fundamentals for long-term continued inbound migration,” said JLL’s Moffitt.
For comments, questions or concerns, please contact Chris Egger
- ◦Sale/Acquisition
