Marc Barmazel-led firm acquires asset fully leased to National Healthcare Company (NYSE:UNH)
Las Vegas, Nev. (November 22, 2021) – Voit Real Estate Services, a privately held, broker-owned Southern California-based commercial real estate firm, has advised PRH XXXV, LLC in the purchase of a freestanding 204,123 square-foot Class A office building in Las Vegas, Nevada. The 6-story building located at 2716 North Tenaya Way is 100% leased to United HealthCare Services for its regional office headquarters. The tenant, one of Nevada’s largest employers, has occupied the building since it was constructed in 1998 and has recently completed significant renovations to enhance the overall property.
A San Diego-based private investment firm, Premier Realty Holdings, LP led by Marc Barmazel, acquired the asset for $67 million.
Voit’s Mike Bench represented the buyer in this transaction. Rick Reeder, Brad Tecca, Marlene Fujita and Charles Moore of Cushman & Wakefield represented the seller.
“This asset presented a tremendous Las Vegas investment opportunity of a Class A asset with a longstanding, credit tenant,” said Mike Bench, Vice President/Partner in Voit’s San Diego office. “Indicative of its commitment to the property, the tenant recently made significant interior, exterior and ongoing mechanical capital improvements to the property. The building is critical to the tenant’s operations, which it utilizes interchangeably as a single facility with the neighboring 2720 building it also occupies.”
2716 North Tenaya houses the tenant’s administrative and operations functions for their data and health intelligence business, known as OptumHealth. The building is equipped with several onsite amenities including: its campus conference facility, state of the art auditorium, a full-service cafeteria (±40,000 SF), multiple break rooms, a credit union and the property also includes a 5-story parking structure onsite.
The location sits prominently along US Highway 95 providing excellent regional access via I-215, I-15, and the I-515 Freeways. Additionally, the building is in close proximity to executive and workforce housing and a large amenity base.
The property has been the recipient of several awards including the Gold Nugget Merit Award – Best Professional Office Building, Food Service Facilities Design Award and Large Scale Project Built to Suit Merit Award.
About Voit Real Estate Services
Voit Real Estate Services is a privately held, broker owned Southern California commercial real estate firm that provides strategic property solutions tailored to clients’ needs. Throughout its 50-year history, the firm has completed in excess of $53.5 billion in brokerage transactions encompassing more than 51,500 brokerage deals. Voit’s unmatched expertise in Southern California brokerage, investment advisory, financial analysis, and market research enable the firm to provide clients with forward looking strategies that create value for a wide range of assets and portfolios. Further information is available at www.voitco.com.
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