Hughes Sale Adds to $100M Run by CPI/Buchanan Street JV
- May 18, 2012
By Alex Girda, Associate Editor
In the latest in a series of dispositions, CIP Real Estate and Buchanan Street Partners have sold the 114,500-square-foot Konami Building in the Howard Hughes Airport Center to the building’s tenant, Konami Digital Entertainment, the Las Vegas Review-Journal reported.
Last December, the partners sold a 425,000-square-foot portfolio at the Hughes Airport Center. That followed the sale of a 110,000-square-foot industrial property in North Las Vegas. Before selliing the Konami Building, CIP and Buchanan Street had sold $105 million in properties locally over the past several years, the Las Vegas Business Press reported in January.
CIP continues to own or manage a $150 million, 1 million-square-foot portfolio at the Hughes Center, a 420-acre master-planned business park totaling 3.3 million square feet of Class A industrial and office space near McCarran International Airport.
For Konami Digital’s part, the acquisition of its building helps cement the investment the Japanese entertainment company has committed to in San Francisco, Los Angeles and Las Vegas, the Review-Journal said.
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Photo courtesy of ciphughes.com