Las Vegas Office Building Trades for $18M
Seller Moonwater Capital recently renovated the nearly 67,000-square-foot property, which is fully leased to a payment processing company.
Hillshire Business Center
Moonwater Capital has sold the 66,780-square-foot Hillshire Business Center in Las Vegas to a private investor for $18.3 million. Washington Federal Bank provided the buyer with acquisition financing, according to public records. JLL represented the seller.
The two-story building, completed in 1993, is fully occupied by payment processing firm Shift4 under a long-term, triple-net lease. Moonwater renovated the asset between 2018 and 2019 to suit the tenant’s needs.
Located at 1551 Hillshire Drive on 4.5 acres, the building is in the Summerlin submarket, less than 3 miles from the Bruce Woodbury Beltway. The local area has a selection of retail options, including the Trails Village Center half a mile away. Additionally, a wide variety of parks, trails and golf courses are within walking distance.
The JLL team representing the seller was led by Senior Vice Presidents Tivon Moffitt and Peter Bauman, along with Executive Vice President Bret Davis. In June, the same team represented Moonwater in the $20 million sale of an office property a mile from Hillshire Business Center.
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