A 17-story, 254,000 sq. ft. Class-A office tower in downtown Las Vegas has sold for $72 million. The Bank of America Plaza property was purchased by IPC US REIT subsidiary IPC, Inc. The seller was not disclosed.
The Bank of America Plaza property was purchased by IPC US REIT subsidiary IPC, Inc. The seller was not disclosed. A 17-story, 254,000 sq. ft. Class-A office tower in downtown Las Vegas has sold for $72 million. The Bank of America Plaza property was purchased by IPC US REIT subsidiary IPC, Inc. The seller was not disclosed.
IPC US REIT is the only real estate investment trust in Canada that solely buys commercial properties in the U.S.
The property is 95% leased to several tenants, including Bank of America, who will lease roughly 23% of the building through 2015. Not only does the bank occupy roughly one-quarter of the property, but it will also provide a $50 million, 10-year first mortgage on the property.