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PARKWAY CROSSING 2 Office Properties Offered at $25,400,000 in Las Vegas, NV
Investment Highlights
- Summerlin, Core, 2-Building, Anchor Tenant Investment
Executive Summary
Parkway Crossing offers investors the opportunity to acquire two modern office buildings totaling 50,223 square feet within a beautiful office park in Las Vegas' Summerlin master planned community. Summerlin is the premier suburban residential and business submarket in the Las Vegas valley. It routinely commands the highest asking rents and
home values in the region due to the strong executive demand and proximity to upscale lifestyle amenities. The asset includes 1480 Center Crossing Road, a 91.2% leased building, and 1490 Center Crossing Road. 1490 is a 100% leased building and is anchored by Americana, a national credit tenant with approximately 7.5 years left on their current term. The asset benefits from 2024 construction, triple net lease structures, 3% annual rent increases, and a current value of approximately $25.4 million (6.0% cap rate). The asset benefits from 2024 construction, triple net lease structures, 3% annual rent increases, and a current value of approximately $25.4 million (6.0% cap rate).
home values in the region due to the strong executive demand and proximity to upscale lifestyle amenities. The asset includes 1480 Center Crossing Road, a 91.2% leased building, and 1490 Center Crossing Road. 1490 is a 100% leased building and is anchored by Americana, a national credit tenant with approximately 7.5 years left on their current term. The asset benefits from 2024 construction, triple net lease structures, 3% annual rent increases, and a current value of approximately $25.4 million (6.0% cap rate). The asset benefits from 2024 construction, triple net lease structures, 3% annual rent increases, and a current value of approximately $25.4 million (6.0% cap rate).
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Property Facts
| Price | $25,400,000 | Number of Properties | 2 |
| Price / SF | $465.24 / SF | Individually For Sale | 0 |
| Cap Rate | 6% | Total Building Size | 54,595 SF |
| Sale Type | Investment | Total Land Area | 3.53 AC |
| Status | Active |
| Price | $25,400,000 |
| Price / SF | $465.24 / SF |
| Cap Rate | 6% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 54,595 SF |
| Total Land Area | 3.53 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 1490 Center Crossing Rd, Las Vegas, NV 89144 | Office | 32,595 SF | 2023 | - |
| 1480 Center Crossing Rd, Las Vegas, NV 89144 | Office | 22,000 SF | 2023 | - |
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