CBRE Arranges Sale of 8,367-SF Office Building in Las Vegas

CBRE has arranged the sale of an 8,367-square-foot office building in Las Vegas. A private investor purchased the property from Manley Grier Investments for $3.3 million.

CBRE’s Travis Landes, SIOR, Michael Hsu and Marc Magliarditi, CCIM, SIOR, represented the seller in the transaction.

“The building is a prime value opportunity that received a number of inquiries from a variety of owner users in the region,” said Landes. “The sale of this property was particularly challenging, as the buyer pool was limited due to the current economic climate. However, we were able to successfully market the property and secure a qualified buyer who was willing to pursue the purchase of this building with the intent to operate their international business.”

The one-story building is located at 1100 Grier Ave. in the Las Vegas Airport submarket, near Interstate 15 and Clark County Road 215. The property was originally built in 1989 and was remodeled in 2021.

According to CBRE’s Spring 2023 U.S. Office Occupiers Sentiment Survey, office attendance levels at 60% of surveyed companies have reached a long-term steady state, up from 43% last year. Those new steady-state attendance levels are often lower than before the pandemic. Still, 38% of companies anticipate their attendance levels to increase in the future.