CITY CENTRE PLACE

CITY CENTRE PLACE | LAS VEGAS, NV | Commercial | 107,123 SF
ACQUIRED JANUARY 2015 $20.5M
SOLD N/A

Acquired from the lender (REO) in January of 2015, City Center is in the heart of downtown Las Vegas between the regional justice center and the Federal Courthouse. Leased at 71% at the time of purchase with a unique 4/1,000 parking ratio, the Class A space was primed for repositioning as office absorption trends upward in the downtown submarket. In addition, DIG added value by negotiating a profit-sharing arrangement with the city of Las Vegas who owns and manages the attached parking garage.