CBRE Arranges Sale of Office Building in Las Vegas

CBRE has arranged the $2.4 million sale of 10781 West Twain Ave in Las Vegas to a private investor. CBRE's Marc Magliarditi, Travis Landes and Michael K. Hsu represented the seller, M&R Office, in the transaction.

"We are delighted by the success of the closing of this prime office property in Summerlin," said Mr. Magliarditi, first vice president at CBRE. "This transaction exemplifies the strong market demand for similar assets and showcases the exceptional skills of our team."

Built in 2006, the modern, 4,176 sq. ft., single-story office building is in the master-planned community of Summerlin, just north of the South Town Center Drive and Clark County Route 215 intersection. The existing floor plan provides exceptional efficiency and flexibility for a variety of uses.

According to CBRE Research, vacancy rates have remained relatively stable quarter over quarter and average asking rental rates saw growth in Q1 2024 across Las Vegas. This data suggests that while demand may have softened, the overall market is demonstrating resilience and stability.