Dapper Cos. Extends Vegas Portfolio With $6M Acquisition
- Sep 26, 2018
Developer the Dapper Cos. has expanded its downtown Las Vegas portfolio with the recent acquisition of a 30,000-square-foot office and retail building. Acting on behalf of the investor, Good Hood LLC bought the property for $5.6 million from Solarium Enterprises LP. The purchase includes two parking lots in addition to the office and retail asset.
The multi-tenant building is located at 201 S. Las Vegas Blvd., approximately 5 miles from downtown, and surrounded by a plethora of neighborhood amenities, such as restaurants, bars and retail. Originally constructed in 1975, the property will undergo a substantial renovation. Dapper Cos. plans to invest more than $8 million to revamp the building.
“We’re going to redesign the ground floor to include extraordinary food and beverage offerings and convert the roof for culinary space,” said J Dapper, principal & founder at Dapper Cos., in a prepared statement.
The developer hired Bunnyfish Studios to design the new interior and exterior renovations.
Dapper Cos. was self-represented in the transaction, while a team of Newmark Knight Frank brokers represented the seller. NKF also recently brokered the sale of a 162,000-square-foot Class A office building in downtown Las Vegas, a property which traded for just under $40 million.
Image courtesy of Dapper Cos.