(Read more on the TICmarket.)
LAS VEGAS-Two buildings totaling 101,000 sf in the Siena OfficePark here changed hands earlier this month for approximately $42million, according to Clark County records. Known as Building Threeand Building Five, the buildings were developed in 2002 and 2003 byPlise Development and Construction. Major tenants include HQ GlobalWorkplaces Inc., National University and Countrywide Home Loan.Overall occupancy is currently 91%.
Located at 861 Coronado Center Dr. and 2850 W. Horizon RidgePkwy., Triple Net Properties acquired the two low-rise buildings onbehalf of tenant-in-common investors. Triple Net chief investmentofficer Jeff Hanson says Triple Net initially took a significantposition in the properties but has since sold additional stakes inthe assets to additional 1031 exchange investors.
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