{"id":1004218968,"date":"2018-04-12T09:04:57","date_gmt":"2018-04-12T17:04:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004218968"},"modified":"2022-12-08T00:39:06","modified_gmt":"2022-12-08T08:39:06","slug":"vegas-office-commands-record-price","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/vegas-office-commands-record-price\/","title":{"rendered":"Vegas Office Commands Record Price"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<div id=\"attachment_1004218974\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Marnell-Corporate-Center-4-in-Las-Vegas.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004218974\" data-attachment-id=\"1004218974\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/vegas-office-commands-record-price\/marnell-corporate-center-4-in-las-vegas\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Marnell-Corporate-Center-4-in-Las-Vegas.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Marnell Corporate Center 4 in Las Vegas\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Marnell Corporate Center 4 in Las Vegas&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Marnell-Corporate-Center-4-in-Las-Vegas.jpg?w=800\" class=\"wp-image-1004218974 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Marnell-Corporate-Center-4-in-Las-Vegas.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Marnell-Corporate-Center-4-in-Las-Vegas.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Marnell-Corporate-Center-4-in-Las-Vegas.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Marnell-Corporate-Center-4-in-Las-Vegas.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004218974\" class=\"wp-caption-text\">Marnell Corporate Center 4, Las Vegas<\/p><\/div>\n<p>Dornin Investment Group has offloaded one of its <a href=\"https:\/\/www.commercialsearch.com\/news\/moonwater-capital-expands-in-vegas-with-41m-office-buy\/\">Las Vegas Class A office assets<\/a> to Nidnats Corp. for $30.8 million. The sale of Marnell Corporate Center 4, which contains 93,650 square feet, sets a record as the highest per-square-foot sale of a multi-tenant non-medical office building in the metro area, according to Dornin. The seller acquired the property in 2014 from Odyssey Real Estate Capital as part of a $39.4 million portfolio transaction, which included buildings 3 and 6 on the campus, per data from Yardi Matrix.<\/p>\n<p>Located at 6750 Via Austi Parkway in Las Vegas\u2019 Airport submarket, the four-story structure is positioned between the McCarran International Airport and Interstate 215. The larger Marnell Corporate Center is a 493,000-square-foot master-planned office campus consisting of five additional buildings, each owned by Marnell Properties, TA Associates or Dornin, according to Yardi Matrix.<\/p>\n<h2>Stabilized asset in a growing market<\/h2>\n<p>The property\u2019s tenants include the Transport Security Administration, Machine Zone, American Family Mutual Insurance and HDR Engineering. The asset was 88 percent leased at the time of the transaction.<\/p>\n<p>Logic Commercial Real Estate acted on behalf of Dornin in the transaction.<\/p>\n<p><em>\u201cWe see a trend developing where out-of-state investors are pleased to purchase a stabilized class A asset, at a fraction above replacement cost, especially when comparing the investment to alternative options in their home state,\u201d<\/em> said Brendan Keating, CEO of Logic, in a prepared statement. <em>\u201cNow that we can point to four to five comps above $300 per square foot, we are seeing developers starting to underwrite speculative office development.\u201d<\/em><\/p>\n<p><em>Image courtesy of Dornin Investment Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Logic Commercial Real Estate represented the seller, Dornin Investment Group, in the sale of the nearly 95,000-square-foot Class A office building.<\/p>\n","protected":false},"author":861,"featured_media":1004218974,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1593,21742,21747,15],"tags":[32788,34613],"class_list":["post-1004218968","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-las-vegas","category-latest","category-office","category-west","tag-dornin-investment-group","tag-odyssey-real-estate-capital"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Vegas Office Commands Record Price - 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\/vegas-office-commands-record-price\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vegas Office Commands Record Price\" \/>\n<meta property=\"og:description\" content=\"Logic Commercial Real Estate represented the seller, Dornin Investment Group, in the sale of the nearly 95,000-square-foot Class A office building.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/vegas-office-commands-record-price\/\" \/>\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=\"2018-04-12T17:04:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T08:39:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Marnell-Corporate-Center-4-in-Las-Vegas.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jeff Hamann\" \/>\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\\\/vegas-office-commands-record-price\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/vegas-office-commands-record-price\\\/\"},\"author\":{\"name\":\"Jeff Hamann\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/9dada606742ec2aa010683bdabf468f4\"},\"headline\":\"Vegas Office Commands Record Price\",\"datePublished\":\"2018-04-12T17:04:57+00:00\",\"dateModified\":\"2022-12-08T08:39:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/vegas-office-commands-record-price\\\/\"},\"wordCount\":273,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/vegas-office-commands-record-price\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/04\\\/Marnell-Corporate-Center-4-in-Las-Vegas.jpg\",\"keywords\":[\"Dornin Investment Group\",\"Odyssey Real Estate Capital\"],\"articleSection\":[\"Deals\",\"Las Vegas\",\"News\",\"Office\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/vegas-office-commands-record-price\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/vegas-office-commands-record-price\\\/\",\"name\":\"Vegas Office Commands Record Price - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/vegas-office-commands-record-price\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/vegas-office-commands-record-price\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/04\\\/Marnell-Corporate-Center-4-in-Las-Vegas.jpg\",\"datePublished\":\"2018-04-12T17:04:57+00:00\",\"dateModified\":\"2022-12-08T08:39:06+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/9dada606742ec2aa010683bdabf468f4\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/vegas-office-commands-record-price\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/vegas-office-commands-record-price\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/vegas-office-commands-record-price\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/04\\\/Marnell-Corporate-Center-4-in-Las-Vegas.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/04\\\/Marnell-Corporate-Center-4-in-Las-Vegas.jpg\",\"width\":800,\"height\":620,\"caption\":\"Marnell Corporate Center 4 in Las Vegas\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/vegas-office-commands-record-price\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Vegas Office Commands Record Price\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/9dada606742ec2aa010683bdabf468f4\",\"name\":\"Jeff Hamann\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Jeff-Hamann.jpg?w=96\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Jeff-Hamann.jpg?w=96\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Jeff-Hamann.jpg?w=96\",\"caption\":\"Jeff Hamann\"},\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/jeffh\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Vegas Office Commands Record Price - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/vegas-office-commands-record-price\/","og_locale":"en_US","og_type":"article","og_title":"Vegas Office Commands Record Price","og_description":"Logic Commercial Real Estate represented the seller, Dornin Investment Group, in the sale of the nearly 95,000-square-foot Class A office building.","og_url":"https:\/\/www.commercialsearch.com\/news\/vegas-office-commands-record-price\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2018-04-12T17:04:57+00:00","article_modified_time":"2022-12-08T08:39:06+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Marnell-Corporate-Center-4-in-Las-Vegas.jpg","type":"image\/jpeg"}],"author":"Jeff Hamann","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/vegas-office-commands-record-price\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/vegas-office-commands-record-price\/"},"author":{"name":"Jeff Hamann","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4"},"headline":"Vegas Office Commands Record Price","datePublished":"2018-04-12T17:04:57+00:00","dateModified":"2022-12-08T08:39:06+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/vegas-office-commands-record-price\/"},"wordCount":273,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/vegas-office-commands-record-price\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Marnell-Corporate-Center-4-in-Las-Vegas.jpg","keywords":["Dornin Investment Group","Odyssey Real Estate Capital"],"articleSection":["Deals","Las Vegas","News","Office","West"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/vegas-office-commands-record-price\/","url":"https:\/\/www.commercialsearch.com\/news\/vegas-office-commands-record-price\/","name":"Vegas Office Commands Record Price - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/vegas-office-commands-record-price\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/vegas-office-commands-record-price\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Marnell-Corporate-Center-4-in-Las-Vegas.jpg","datePublished":"2018-04-12T17:04:57+00:00","dateModified":"2022-12-08T08:39:06+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/vegas-office-commands-record-price\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/vegas-office-commands-record-price\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/vegas-office-commands-record-price\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Marnell-Corporate-Center-4-in-Las-Vegas.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Marnell-Corporate-Center-4-in-Las-Vegas.jpg","width":800,"height":620,"caption":"Marnell Corporate Center 4 in Las Vegas"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/vegas-office-commands-record-price\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Vegas Office Commands Record Price"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4","name":"Jeff Hamann","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Jeff-Hamann.jpg?w=96","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Jeff-Hamann.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Jeff-Hamann.jpg?w=96","caption":"Jeff Hamann"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/jeffh\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Marnell-Corporate-Center-4-in-Las-Vegas.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004218968","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/861"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004218968"}],"version-history":[{"count":3,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004218968\/revisions"}],"predecessor-version":[{"id":1004219121,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004218968\/revisions\/1004219121"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004218974"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004218968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004218968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004218968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}