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Tomchi Group Acquires 68K SF Summerlin Office Building For $21.1M

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SOLD
$21,100,000

Nevada

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Office68,346 SF
Sold 10/05/2023
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Property Image
SOLD

Tomchi Group Acquires 68K SF Summerlin Office Building For $21.1M

10750 West Charleston Boulevard

See Similar Deals
Office68,346 SF
Sold 10/05/2023
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Summary

NEVADA
Asset Type:Office
Price Per Square Foot:$308
Total Square Footage:68,346 SF
Transaction Type:Sale

A 68,346 sq ft office building located at 10750 West Charleston Boulevard in Las Vegas, Nevada has been sold for $21.1 million. The property, situated in the prime Summerlin area and across from the Red Rock Resort & Casino, offers a strategic location. The building sits on 5.63 acres and is fully leased to Wyndham Vacation Ownership and Realty One Group, both of whom are long-term tenants. The transaction drew significant interest due to its favorable location and the presence of reliable tenants.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $21,100,000
  • Square Footage: 68,346 sq ft
  • Price per Square Foot: $309
  • Address: 10750 West Charleston Boulevard, Las Vegas, Nevada

The buyer, Tomchi Group LLC from Hawaii, acquired the property. Represented by Michael Coxen from The Standard A Real Estate Agency, the buyer's involvement in the deal demonstrates their keen interest in expanding their real estate portfolio. On the other hand, BP Airways LLC acted as the seller, with Marc Magliarditi from CBRE representing their interests. The involvement of these reputable brokerage firms further highlights the significance of the transaction.

Players

Marc Magliarditi
7 deals$87.9M volume
BROKER

Michael Coxen
The Standard A Real Estate Agency
1 deal$21.1M volume(702) 919-4090
BROKER

Details

SOLD
IMAGE: Marc Magliarditi & Michael Coxen DATE: 10/05/2023 ADDRESS: 10750 West Charleston Boulevard MARKET: Las Vegas, Nevada ASSET TYPE: Office ~ ACRES: 5.63 BUYER: Tomchi Group LLC SELLER: BP Airways LLC BUYER'S REP: Michael Coxen (@MichaelCoxen) - The Standard A Real Estate Agency SELLER'S REP: Marc Magliarditi - CBRE (@CBRE) SALE PRICE: $21,100,000 SF: 68,346 ~ PPSF: $309 NOTE: Hawaii's Tomchi Group has bought a 68,346 sq ft office building across from Red Rock Resort & Casino in Summerlin for $21.1 million. The property, fully leased to Wyndham Vacation Ownership and Realty One Group, drew interest due to its prime Summerlin location and long-term tenants.

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Deal Type
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$74,963.84
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