Category – Office – Las Vegas

G2 Capital Development Acquires Campus Village

campusvillageLas Vegas-based G2 Capital Development, a privatelyowned commercial real estate development company, is pleased to announce its newest acquisition along the Maryland Parkway corridor. Campus Village, consisting of approximately 3 acres of land with two buildings totaling +/-39,185 SF of space at the northeast corner of Maryland Parkway and Harmon Ave., is now a part of G2 Capital Development’s real estate portfolio.

“We are excited to have purchased Campus Village, and look forward to continuing to operate the property, as well as evaluating potential redevelopment opportunities,” said Frank Marretti, Founder and Owner of G2 Capital Development. “Our commitment to the Maryland Parkway corridor is stronger than ever.”

Campus Village is a commercial center consisting of a mix of retail and office tenants. Built in the late 1970s, the property consists of one two-story building with frontage along Maryland Parkway and adjacent to UNLV, and one single-story building set back to the east along Harmon Avenue. Tenants at Campus Village offer a host of different services to UNLV students, as well as to local residents, including food services, salon services, and other retail shops.

Campus Village is the third major investment in property along Maryland Parkway for G2 Capital Development. Just south of Campus Village , the University Gateway project is about to begin its final phase of construction with an 8-story mixed-use building consisting of retail, office and luxury apartment units, containing approximately +/-180,000sf. Construction on this $60+ million dollar project is expected to begin within the next few weeks. Earlier this year, G2 Capital Development entered into agreements to re-develop a 4+ acre site just north of Campus Village as well as completing Phase I of the University Gateway project by constructing and delivering a seven-story parking garage with approximately 820 parking spaces and 10,000 square feet of office space to be used for a UNLV police substation.

Centra Point Changes Hands

centraThe Brookhollow Group and PCCP LLC are proud to announce the acquisition of Centra Point. Centra Point is a 383,000 square foot Class A office park located on the southern beltway “curve” in Las Vegas, Nevada.  Centra Point offers a strategic location in the booming Southwest Office Market between the master-planned communities of Summerlin and Green Valley while being just minutes away from the world-famous Las Vegas “Strip” and McCarran International Airport.

“We’ve had our eye on this asset for a long time now,” said Jeff Kaplan, a partner with The Brookhollow Group. “The quality of product, its unmatched location, prime visibility from the southern beltway curve and being in the center of Las Vegas’s fastest growing office markets all played a factor in our decision to aggressively pursue and ultimately acquire Centra Point.”  The acquisition demonstrates the continued trend of activity in the Southwest Las Vegas Office market.

“We are very excited to have the opportunity to work with The Brookhollow Group and help them re-position the asset,” said Nicholas Barber, a Director with Cushman and Wakefield. “The new ownership has the working capital, local presence and a strong sense of the Las Vegas Office market to make instant decisions on all leasing transactions. This is something that both Tenants and the brokerage community will benefit greatly from.” Major renovations will begin immediately and shall include upgraded lobbies and restrooms, landscape renovation, exterior building painting and exterior common area upgrades, spec suites and a new on-site leasing and management office. To learn more,

Mandelbaum MOB Buys Las Vegas Tech Center Plaza

photoCBRE announces today the sale of Las Vegas Tech Center Plaza, medical office buildings located at 2901-2931 N. Tenaya Way, Las Vegas, NV 89128. Charles Moore, CSM, Marlene Fujita-Winkel and Bart DeBuono of CBRE’s Las Vegas office represented the seller, CW Capital, in the $4,750,000 transaction encompassing 57,851 square feet. The buyer, Mandelbaum MOB, LLC, did not have representation.

The property is across the street from Mountain View Hospital near the intersection of U.S. Highway 95 and Cheyenne Avenue.

Spanish Vista Sells for $8.95 Million

spanish vistaChris Emanuel with Virtus Commercial represented the Buyer in an $8.95 million transaction of Spanish Vista, a 51,834 square feet garden style office park located less than a mile from the 215 Beltway at 4955 South Durango Drive, in Las Vegas.  Tina Taylor and Ryan McCullough with Marcus & Millichap  represented the seller, WJA Properties, LLC & Gold Pac Capital, LLC. Virtus Commercial will be handling the Property Management and Leasing at the Property, which includes an Executive Suite component.

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