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News Release: Cushman & Wakefield Advises Sale of 204,123 SF Class A Office Building in Las Vegas for $67 Million

For Immediate Release

Marc Barmazel-led firm acquires asset fully leased to a national healthcare company

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LAS VEGAS, Nev., November 17, 2021 – Cushman & Wakefield announced the firm has advised Virtua Partners in the disposition sale of a freestanding 204,123-square-foot Class A Office Building in Las Vegas, Nevada. The six-story building located at 2716 North Tenaya Way is 100% leased to a national healthcare company for its regional office headquarters. The Tenant, one of Nevada’s largest employers, has occupied the building since it was constructed in 1998.

A San Diego-based private investment firm, Premier Realty Holdings, LP led by Marc Barmazel acquired the asset for $67 million.

Cushman & Wakefield’s Rick Reeder, Brad Tecca, Marlene Fujita and Charles Moore of the firm’s Capital Markets in the Southwest represented the Seller in the transaction. Mike Bench of Voit Real Estate Services represented the Buyer.

“This asset presented a tremendous Las Vegas investment opportunity of a Class A asset with a longstanding, credit tenant,” said Rick Reeder, Executive Managing Director. “Indicative of its commitment to the property, the tenant recently made significant interior, exterior and 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.”

2716 North Tenaya houses the Tenant’s administrative and operations functions for their data and health intelligence business. The building is equipped with several on-site amenities including: its campus conference facility, a full-service cafeteria (±40,000 sf), multiple break rooms, a credit union, and the property also includes a 5-story parking structure on site.

The location offers direct visibility and sits prominently along US Highway 95 providing excellent regional access via I-215, I-15, and the I-515 Freeways. Additionally, the building is in close proximity to executive and workforce housing and a large amenity base.

The property has been the recipient of several awards including the Gold Nugget Merit Award – Best Professional Office Building, Food Service Facilities Design Award, and Large Scale Project Built to Suit Merit Award.

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

Media Contact:

Joshua Deale
Cushman & Wakefield
Communications Manager, West Region
+1 415 677 0423
joshua.deale@cushwake.com

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