CBRE Announces $114.5 Million Sale of Six-Building Portfolio in Henderson, Nev.

CBRE has arranged the sale of Green Valley Corporate Center, a six-building office portfolio totaling 347,015 square feet in Henderson, Nevada. Kingsbarn Realty Capital purchased the properties from JMA Ventures, LLC and Blue Vista Capital Management, LLC for $114.5 million.

CBRE’s Tyler Ecklund, James Griffis, Brad Peterson, Darren Lemmon and Justin Witt represented the seller in the transaction. The transaction is the largest office portfolio sale in Henderson this year.

Green Valley Corporate Center North consists of three Class A office assets:

• 2275 Corporate Circle, a three-story, 68,444-square-foot office building.
• 2285 Corporate Circle, a two-story, 45,337-square-foot office building.
• 2370 Corporate Circle, a three-story, 69,208-square-foot office building.

Green Valley Corporate Center South consists of three Class A office assets:

• 2475 Village View Drive, a two-story, 44,526-square-foot office building.
• 2485 Village View Drive, a three-story, 69,222-square-foot office building.
• 2495 Village View Drive, a two-story, 50,278-square-foot office building.

“This Green Valley Corporate Center portfolio is part of a larger office portfolio adjacent to the I-215 beltway,” said Ecklund. “With the purchase of these six properties, new ownership has secured a significant presence within the master-planned community of Green Valley, an established submarket that is well sought after by tenants.”

Green Valley Corporate Center is located near the intersection of Interstate 215 and St. Rose Parkway, near several other retailers, restaurants, entertainment venues and fitness centers, including Life Time Athletic, Green Valley Ranch Resort Spa and Casino, Bath & Body Works and Shake Shack. The property was ±94 percent occupied at the time of the sale.

According to CBRE Research, the Las Vegas office market posted positive net absorption of 376,873 square feet in Q2 2022, a 319,600 square foot increase from Q1 and an escalation of more than 292 percent from one year ago.