Las Vegas, NV. – April 23, 2024 – Colliers is pleased to announce the opportunity to acquire a brand-new construction, stabilized trophy office asset in Las Vegas. The property, known as Narrative, located at 6795 Agilysys Way, Las Vegas, NV, is a four-story building that is 95 percent leased to a diverse tenant mix of publicly traded and private credit tenants, consisting of 100,184 SF of rentable area. Representing the owners/landlords, LaPour Partners and G2 Capital, is the Colliers team comprised of Sean Fulp and Mark Schuessler, West Region Capital Markets, local Nevada investment sales expert Mike Mixer, and the leasing team of Patti Dillon and Taber Thill.
Narrative presents a generational opportunity for an investor to acquire a brand-new construction, stabilized trophy asset at below replacement cost. Given the minimal subset of properties that fit this mold and the long-term/forever-hold capital that controls much of the most desirable product and land in Las Vegas, Howard Hughes Corporation, this offering may be one of the last opportunities for a private investor to acquire trophy real estate in the Southwest.
“The Southwest submarket has experienced record high absorption followed by record low vacancy rates emerging as the premier pocket for new development in Las Vegas, with projects that have frontage along the I-215 being the most desirable,” said Mark Schuessler, Executive Vice President. “We’re excited to bring to market one of the first stabilized trophy office offerings in the Western region. Opportunities to acquire newly constructed assets in high barrier markets like Las Vegas don’t come around often.”
Built in 2022, Narrative is a premier Class AA asset offered below replacement cost to investors and the first true core office property to come to market post rate hikes. Strategically located between the most affluent master-planned communities—Summerlin and Green Valley—the property delivers everything that the modern tenant desires with the highest construction quality in the market, including steel frame, floor-to-ceiling glass, unobstructed frontage/visibility along the I-215 freeway, building signage, exclusive/secure parking, and nearly 50,000 square feet of walkable retail/restaurant amenities.
Media Contact
Ashley Jeanes
PR & Communications Specialist
Ashley.Jeanes@colliers.com
214-706-6053