Dornin Scoops Up Four-Story LEED Silver Office Asset

LAS VEGAS-Dornin Investment Group has picked up 3755 Breakthrough Way, a class A, LEED Silver office property located in Las Vegas.

This institutional quality, three-story office building is approximately 97,902 SF, and is strategically located in the upscale master planned community of Summerlin, adjacent to the I-215 freeway and in close proximity to Summerlin Hospital, Red Rock Casino, Resort & Spa, and the Summerlin Centre Mixed-Use development.

This highly visible property is served by ample, on-site parking with a combination of surface and covered spaces that provide an overall project parking ratio of nearly 6 spaces per 1,000 SF. Additionally, Breakthrough Way offers a modern, highly flexible floor plate design and is able to accommodate a wide range of tenant sizes and space designs.

The property is occupied by two credit tenants (University of Phoenix and Affinity Gaming) on long-term leases, at 67% current occupancy 3755 Breakthrough Way offers a compelling value-creation opportunity through the lease-up of the remaining vacancy.

"This acquisition represents our continued commitment to expanding our presence in Las Vegas" said Chris Dornin, president and founder of Dornin Investment Group.

"The Las Vegas market is recovering nicely and this property represented an outstanding opportunity to acquire one of the best office buildings in Las Vegas at a substantial discount to replacement cost and previous market highs."

Financing was arranged in house by Scott Botsford through PCCP, LLC.

“We are excited to reconnect with PCCP and look forward to doing many more deals with them. They provided a great structure and the process was very smooth” added Dornin. Dornin Investment Group has engaged CBRE to manage and lease the property. "We are excited about the new relationship with CBRE and look forward to working with them to make this property a success in short order" said Marcella Kaytia, vice president.

Dornin Investment Group (“DIG”) is a real estate investment and asset management firm that invests in commercial and residential real estate in partnership with a broad base of institutional and private investors.