The online property description says the building was originallyconstructed as an indoor, eight court tennis center but that thehighest and best use going forward is likely as an industrialwarehouse and distribution center. The building has ceilings highenough to support the addition of a second floor.

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The new owner is ITC LAS VEGAS LLC, whose managing members areJames Ahearn of West Palm Beach, FL, and ITCLV MM LLC of New YorkCity. The seller was AWOL LLC, whose managing member are James V.Lovett and Kenneth M. Bauer of Henderson, NV.

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Tom Hedgecock and Robert Butler with the Las Vegas office ofMarcus & Millichap represented the seller. According toM&M, the new owner will occupy the building.

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A year-end industrial market report by locally based AppliedAnalysis showed that vacancy in the 96 million-sf industrial markethere ended 2007 at 6%, up from 3.5% at the end of 2006. The 10million-sf Airport/East submarket posted a year-end vacancy of4.4%.

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