1351 N Town Center Dr
Las Vegas, NV 89144
Office Property For Sale

THE OFFERING The Bank of America Office Portfolio consists of four properties with recently extended leases and includes premier office assets in Hunt Valley, Maryland and Las Vegas, Nevada, a high-quality contact center in Rio Rancho, New Mexico, and market leading office building in Moosic, Pennsylvania that provides upside potential for new ownership. The Portfolio’s four office buildings total 839,808 square feet and feature a current annual net rent of approximately $10.7 million. The properties are part of a strategically extended portfolio of leases that commenced on August 1, 2018. The Hunt Valley and Las Vegas properties were negotiated to include coveted 10-year renewal options and are currently benefitting from over $5 million in upgrades and structural improvements. The Rio Rancho building features a 5.25-year renewal period, 1.50% annual escalations, and an attractive market rent. In regards to the Moosic asset renewal and lease extension, Bank of America right-sized within the building and will be renewing 150,000 square feet (50% of the building) for a 5-year term. The remainder of the property is being vacated and offers new ownership the opportunity to re-lease office space in one of the metropolitan area’s foremost buildings.