Las Vegas

VF Carson LLC, a joint venture of Thompson National Properties’TNP Vulture Fund VIII and TNP/SLI Green Building Fund, recentlyexecuted four new leases at the 302 E. Carson building leading theway for additional leasing activity at the newly green-renovatedasset. Over the past few months, VF Carson has executed a leasewith the Clark County Constable’s Office for 12,300 rentable squarefeet for the entire 5th floor, Shangri-La Construction for 2,664rentable square feet on the 3rd floor, as well as two leaseexpansions on the 3rd floor with ViaWest Inc. for 3,987 rentablesquare feet and Corelink Data Center LLC for 1,353 rentable squarefeet. Based on current executed leases, the 302 E. Carson buildingis approximately 40% leased. Throughout 2009, the joint venture hasbeen focused on completing a major green renovation to increase theenergy efficiency and environmental sustainability of the 302 E.Carson building. The joint venture called on the expertise of thefund’s co-partner, Shangri-La Construction, which specializes inthe construction, retrofit and redevelopment of commercial realestate to achieve increased environmental sustainability and energyefficiency, to renovate the asset with the goal of obtaining a Goldcertification under the US Green Building Council’s LEED RatingSystem. Upon certification, the 302 E. Carson building will becomethe first LEED Certified retrofit in the downtown Las Vegassubmarket, which will further increase future leasing activity anddrive rental rates, according to a prepared statement.

CB Richard Ellis Inc. represented the lessor, LBA Realty Fund IIWBP II LLC, in the $1.58-million, 60-month lease of 17,637 squarefeet of office space to ITT Educational Services Inc. The propertyis located at 3825 W. Cheyenne Ave. in North Las Vegas.