{"id":1004080789,"date":"2013-07-24T15:42:44","date_gmt":"2013-07-24T23:42:44","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=153086"},"modified":"2022-12-06T08:56:39","modified_gmt":"2022-12-06T16:56:39","slug":"mig-buys-13-million-asset-as-office-investment-shows-a-pulse","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mig-buys-13-million-asset-as-office-investment-shows-a-pulse\/","title":{"rendered":"MIG Buys $13 Million Asset as Office Investment Shows a Pulse"},"content":{"rendered":"

By Alex Girda, Associate Editor<\/em><\/p>\n

The residential sector and Downtown Project may have grabbed headlines in Las Vegas\u2019 real estate market of late, but the area\u2019s office sector is also showing signs of life.<\/p>\n

A recent case in point is MIG Real Estate\u2019s \"\"<\/a> $13 million acquisition of Colonial Plaza, a 110,738-square-foot asset located at 4670 and 4730 South Fort Apache Road.<\/p>\n

In a statement, Greg Merage, CEO of Newport Beach, Calif.-based MIG, cited \u201cthe property\u2019s desirable location, high-quality construction and leasing flexibility, enhanced by a variety of suite sizes.\u201d<\/p>\n

The location offers ready access to McCarran International Airport and the residential communities of Summerlin. Colonial Plaza marks MIG\u2019s sixth acquisition in the Las Vegas area.<\/p>\n

The seller, whose identity was not immediately available, was represented in the transaction by Rockwood Real Estate Advisors. Rockwood notes that fundamentals in the local submarket have surged recently. Average asking rents and net absorption ranked first in metropolitan Las Vegas during the fourth quarter of last year; the submarket\u2019s vacancy rate ranked second.<\/p>\n

Photo courtesy of loopnet.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

With the housing sector and the dealings of the Downtown Project at the forefront of the city’s real estate market during recent months, reporting on an office deal might come as a surprise.<\/p>\n","protected":false},"author":237,"featured_media":1004506951,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1593,21742],"tags":[],"class_list":["post-1004080789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-las-vegas","category-latest"],"acf":[],"yoast_head":"\nMIG Buys $13 Million Asset as Office Investment Shows a Pulse - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/mig-buys-13-million-asset-as-office-investment-shows-a-pulse\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MIG Buys $13 Million Asset as Office Investment Shows a Pulse\" \/>\n<meta property=\"og:description\" content=\"With the housing sector and the dealings of the Downtown Project at the forefront of the city’s real estate market during recent months, reporting on an office deal might come as a surprise.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/mig-buys-13-million-asset-as-office-investment-shows-a-pulse\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-07-24T23:42:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T16:56:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/colonial-plaza-las-vegas.jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mig-buys-13-million-asset-as-office-investment-shows-a-pulse\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mig-buys-13-million-asset-as-office-investment-shows-a-pulse\\\/\"},\"author\":{\"name\":\"Anca Gagiuc\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"headline\":\"MIG Buys $13 Million Asset as Office Investment Shows a Pulse\",\"datePublished\":\"2013-07-24T23:42:44+00:00\",\"dateModified\":\"2022-12-06T16:56:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mig-buys-13-million-asset-as-office-investment-shows-a-pulse\\\/\"},\"wordCount\":187,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mig-buys-13-million-asset-as-office-investment-shows-a-pulse\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/colonial-plaza-las-vegas.jpg\",\"articleSection\":[\"Las Vegas\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mig-buys-13-million-asset-as-office-investment-shows-a-pulse\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mig-buys-13-million-asset-as-office-investment-shows-a-pulse\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mig-buys-13-million-asset-as-office-investment-shows-a-pulse\\\/\",\"name\":\"MIG Buys $13 Million Asset as Office Investment Shows a Pulse - 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