Real Capital Solutions Sells Multi-Tenant Commercial Asset in Las Vegas for $17M
LOUISVILLE, CO, December 19, 2017 – Real Capital Solutions, a nationally-focused investor of work-out and value-add properties is pleased to announce the disposition of the Red Rocks Business Center at 180 Brent Thurman Way in Las Vegas, Nevada. These two 2-story office buildings totaling 74,010 rentable square feet sold for $17 million with a closing in mid-December. The sale of the property positions RCS to reinvest in commercial properties in the Las Vegas market.
“Selling Red Rocks Business Center is part of our capital recycling strategy to add value and redeploy capital into another value-add or ‘calm water’ deal,” said Graham Riley, Vice President of Commercial Acquisitions at RCS. “We are seeking more acquisitions in the Las Vegas and Reno markets, and expect to be buying more within the market in the coming year.”
The office property was sold at 87.4 percent leased, with three long standing tenants of Axia Home Loans, Fidelity Investments, and Toll Brothers. The Red Rock Business Center is the ideal corporate location with frontage along the I-215 Beltway with outstanding mountain and city views. Tenants enjoy the availability of both covered and reserved parking spaces, as well as marketing opportunities with excellent signage exposure along the I-215 Beltway. Employees and their visitors will be able to use the nearby amenities including access to dining, shopping, and banks.
Real Capital Solutions continues to seek acquisition throughout the United States and expects to purchase over $300 million in real estate assets in 2018.