3041 East Flamingo Road
Las Vegas, Nevada
CBRE’s Investment Properties-SoCal/Phoenix/Vegas team is pleased to announce the sale of 3041 East Flamingo Road in Las Vegas, Nevada, for $310 PSF. The 14,680-square-foot medical office building sits on 1.72 acres at the corner of East Flamingo Road and McLeod Drive, across the street from a Walgreens. It is surrounded by numerous amenities, including nearby Desert Spring Hospital Medical Center.
Tyler Ecklund, James Griffis, Matt Pourcho and Doug Mack with CBRE represented the seller, PacVentures, Inc., a San Diego-based commercial real estate investment firm that focuses on value-add investments throughout the Southwestern United States. The buyer was Inter-Cal Real Estate, a Northern California property management and leasing company.
“With strong property fundamentals, medical-anchored assets are one of the most sought-after products in any market. They provide a level of income certainty and capital protection from on-going macroeconomic challenges,” said Mr. Ecklund.
“With its favorable tax incentives, Nevada is attracting an increasing number of tenants and investors from California. Net-leased properties with strong tenancy and term have seen incredible demand since the start of the pandemic,” added Mr. Griffis.
Our team, built with a market-leading database and led by an integrated team of experts across nine Western U.S. markets, provides investors with an unrivaled advantage. Our clients have access to a best-in-class marketing platform, local market expertise in any U.S. market, and a dedicated team of financial analysis, due diligence and transaction professionals at their discretion.
To date, we continue to observe strong transaction activities despite COVID headwinds. If you would like us to advise you on your next acquisition, please give us a call.
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Specializing in the sale of Office, Medical Office, and Industrial properties in California, Arizona and Nevada.
IN 2020, OUR TEAM SOLD 77 PROPERTIES TOTALING OVER $1.1 BILLION.
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