Tuesday, November 27, 2012

Voit Real Estate Services Directs 112,304-SF Mixed-Use Sale in Las Vegas



Decatur Crossings III, Las Vegas, NV
Las Vegas, NV– Voit Real Estate Services has procured the $7 million sale of Decatur Crossings III, a 112,304 square-foot mixed-use property in Las Vegas, Nev. on behalf of the buyer, Ready Mix Opportunity Group LLC.

 This well-located project, which consists of two, two-story office/flex buildings, was approximately 40 percent occupied at the time of purchase.

          Kevin Higgins and Garrett Toft of Voit’s Las Vegas office worked closely with Darren Tappen of Voit’s Phoenix office to represent the buyer, Ready Mix Opportunity Group LLC in this “off market” transaction. The seller, Next Gen Fund 5, LLC, represented itself in the transaction. 

Kevin Higgins
“The success of this deal speaks to our ability to locate investment opportunities for our clients in a supply constrained investment market. Buyers are looking for strong, value-add investments which can be well-positioned to attract new tenants,” explains Higgins.

          “This property presents an enormous potential to add value. The buyer’s basis will enable them to attract quality tenants faster than the competition. In fact there was significant leasing activity on the shell space prior to the close of escrow,” explained Toft.  “The location, product type and timing were very appealing to us and we were able to move quickly to close to meet the seller’s needs.

Garrett Toft
“Voit did a great job for us on this transaction,” according to Jeff LaPour, a principal of RMOG LLC.

According to Darren Tappen, this transaction was a great example of the synergies between the regional Voit offices in action.  There were a number of individuals that all brought different skill sets to table and made this deal happen.

         The property is located at 4675 and 4775 West Teco Avenue in Las Vegas, Nev.



Contact: 

Judith Brower
Brower, Miller & Cole
(949) 955-7940


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