NKF Brokers Sale of 162 KSF Office in Las Vegas

By Alex Ciorogar

302 Carson

NKF Capital Markets has arranged the $39.7 million sale of 302 Carson, a Class A office tower in downtown Las Vegas.

Located at 302 and 304 East Carson Ave., the 161,924-square-foot property was built in 1965. Renovated between 2010 and 2015, 302 Carson spreads across a 1.2-acre site. The 12-story high rise is also served by an adjacent five-level parking lot. According to NKF, the asset is leased by various tenants, including Take Two Interactive Software, GSA (Housing and Urban Development), Flexential and Zappos.

NKF Co-Head of U.S. Capital Markets Kevin Shannon, Executive Managing Directors Brunson Howard, Ken White, David Scherer and Bryan Loewen, as well as Managing Director Rick Stumm represented the seller, Highbrook Investors.

“We continue to see increased buyer depth in secondary markets as capital looks for significantly better yield compared to the coastal markets. This more attractive yield is being augmented by a deep and very competitive debt market,” said Shannon, in prepared remarks.

“Downtown Las Vegas is experiencing a renaissance due to high growth technology tenants and net in-migration and business expansion that is positioning the city for long-term sustained growth. Having two major sports franchises poised to locate in Las Vegas has also bolstered this momentum,” added Howard, in a prepared statement.

In another recent deal, NKF Capital Markets brokered the sale of a 133,000-square-foot office building in Westlake Village, Calif.

Photo courtesy of NKF Capital Markets