Tierra Management Sells Las Vegas Office Building
The buyer secured more than $7 million in financing for the acquisition of the 86,515-square-foot property.
920 Pilot Road
WG Group has acquired an 86,515-square-foot Class B office building at the Hughes Airport Center in Las Vegas for $10.5 million from Tierra Management, according to Yardi Matrix. A private lender provided the buyer with $7.4 million in acquisition financing. The seller had purchased the asset in early 2002 for $10 million from Western Devcon.
Located at 920 Pilot Road, the building is within 10 miles of downtown Las Vegas in a heavily industrial district south of McCarran International Airport. The property, accessible via a nearby public bus route, is less than 3 miles from the intersection of interstates 15 and 215. At the beginning of October, a 222,000-square-foot office portfolio on the other side of the airport changed hands for $27 million.
Constructed in 2001, the two-story building is fully leased to Pololu Robotics and Electronics. The asset contains 73,538 square feet of office and 12,977 square feet of industrial space. The property has parking at a ratio of three spaces per 1,000 square feet.
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