November 11, 2019 – Cushman & Wakefield completed the sale of 2200 Paseo Verde, a 60,499-square-foot (sf) office building located at 2200 Paseo Verde Parkway in Henderson, Nevada. PREH Paseo Verde, LLC purchased the property from Pacific Oak SOR II.
Charles Moore, Marlene Fujita and Hunter Bradshaw of Cushman & Wakefield brokered the $19,450,000 sale on behalf of the seller.
“We’re delighted for new ownership. This is a great building in a solid trade area whose position in the heart of The District near Cheesecake Factory, P.F. Chang’s and Whole Foods couldn’t be better,” stated Moore.
The three-story, Class A office building is located at the entrance of The District at Green Valley Ranch, a 400,000 sf mixed-use property. The freestanding office building, built in 2004, was part of the first phase of The District which also included 50 lifestyle retail shops and restaurants, and 88 luxury loft and flat condominiums.
“2200 Paseo Verde Parkway was a tremendous opportunity to acquire a beautiful, jewel-box building knowing the common facilities will be maintained in a first-class condition, and tenants have myriad options for food, beverage, services and entertainment. Notably, the balance of The District is owned by Vestar, a premiere owner/developer of mixed-use properties who has added, and continues to add significant value to the overall development,” said Fujita.
Located at the northwest corner of Green Valley Parkway and Paseo Verde Parkway, the multi-tenant building offers 24-hour access, a courtyard, a balcony, and property management onsite. The property is currently 94% leased to Berkadia Real Estate Advisors, Ticor Title, Umpqua Bank, Michaelson & Assoc LTD, and Ford & Friedman to name a few. In addition to the sale, Cushman & Wakefield also handled the leasing and property management for the building.