Montecito Point is rising on the northwest corner of Hwy 95 andthe 215 Loop in northwest Las Vegas. The project sits withinMontecito Town Center, a 200-acre mixed-used development thatincludes retail, single and multi-family housing, a full servicehospital, and recreational attractions.

"There's very little existing class A product around our projectand we are very well located," Lauth's VP of development Mike Orrtells GlobeSt.com. "And we are right in the middle of amaster-planned park, putting us within two miles of a power centerand a grocery-anchored neighborhood center."

Randy Broadhead, Brad Peterson and Darren Lemmon of CB RichardEllis have the leasing assignment. The asking rent for space in thebuilding is $2.70 per sf (modified gross), which assumes a $40 persf tenant improvement allowance and at least a five-year lease.Thelease rate is competitive with other new product in the market, Orrsays, with the added benefit of being "green," thanks to thingslike a high-efficiency heating and cooling system, increased use ofday lighting, low-flow water fixtures and high solar reflectiveroofing. The goal is to achieve a LEED Silver rating from the USGreen Building Council.