DENVER (September 16, 2014) – Greg Benjamin, senior vice president and Jeff DeHarty, senior investment analyst of NorthMarq Capital’s Denver based office secured acquisition financing of $12.3 million for LaPour Corporate Center. This LEED certified 70,188 square foot office property is located at 9075 West Diablo Drive in Las Vegas, Nevada, approximately one block north of the North West Corner of I-215 and Russell Road in the rapidly expanding SW submarket of Las Vegas.
The three story multi-tenant office building, constructed in 2008, is 100% leased and occupied. Construction is tilt up concrete with attractive paneled glass bands at each of the office levels. The site offers a convenient parking ratio of four spaces per 1,000 n.r.s.f. Citywide views of the Strip and the Las Vegas Valley are enjoyed from the easterly facing suites and mountain views from the westerly facing suites.
The transaction was structured with a mid-4%, fixed interest rate, for a 10-year term with a 25-year amortization schedule. The acquisition loan was arranged for one of NorthMarq’s many repeat Borrower clients through its correspondent relationship with a mid-western life insurance company.