This Office Property is Off-Market.

2716 Tenaya Way
Las Vegas, NV 89128 ·

204,123 SF · Office For Sale

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United Healthcare

Price N/A Cap Rate 8%
Building Size 204,123 SF Occupancy 100%
Property Type Office Building Class A
Property Sub-type Office Building Tenancy Single
Property Use Type Net Lease Investment with 5 years left on lease Lot Size 11.17 AC
Listing ID: 17075857 Date Created: 03/21/2011 Last Updated: 01/12/2012

Description

CB Richard Ellis, as exclusive advisor, is pleased to present the opportunity to acquire fee simple interest in 2716 North Tenaya Way, a Class A six-story and 100% credit leased 204,123 SF single tenant project. Triple-net leased to the nation' s largest health care provider, United Health Care Services, Inc., part of UnitedHealth Group Inc., ( UHG ) (S&P:A-), the Property is located in the desirable masterplanned Las Vegas Technology Center, a 400-acre mixed-use masterplanned park adjacent to Las Vegas' highly esteemed Summerlin community. UHG, and its predecessor Sierra Health who UHG acquired in 2008, has occupied the Property since its delivery as a build to suit in 2000. Almost 1.6 acres of vacant land fronting Tenaya Way is included in the offering, and incorporated under the terms of UnitedHealthcare Group' s lease and rental payments. In addition to investing significant amounts of their own capital in the building, UHG owns the adjacent building which allows them to capture major State of Nevada tax benefits.

The Property occupies a key location one-half mile from the 250 bed Mountainview Hospital and approximately five miles from the 454 bed Summerlin Hospital Medical Center. Both of these hospitals continue to experience excellent growth with Mountainview Hospital currently undergoing a $34 million expansion and renovation. Additionally, the Property offers ease of access to the premier executive housing of nearby Summerlin, generally regarded as Las Vegas' most affluent and desirable area to live and work, and is also accessible by the wider labor pool.

Research

2716 Tenaya Way, Las Vegas, NV 89128 (Clark County)

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