MIG Buys Office/Medical Office Complex in Henderson

The Las Vegas office market has seen consistent improvement over the past year, up to a point where important transactions once again take place. Recently a new portfolio transaction was announced by real estate investment company MIG Real Estate. The Newport Beach-based entity acquired an eight-property office/medical office package located in Henderson for an undisclosed amount. A CBRE team arranged the transaction on behalf of the seller.

In the latest sign of improvement in the metropolitan Las Vegas office market, MIG Real Estate acquired Sansone Pecos II, an eight-building, Class A office/medical office portfolio in Henderson’s upscale Green Valley. Located near the I-215 and South Pecos Road interchange at 9005-9089 South Pecos Road, the one- and two-story buildings total 122,922 square feet. CBRE Group Inc. represented the seller; neither the identity of the prior owner nor the purchase price was disclosed.

“Sansone Pecos II has strong upside potential, benefiting from the improving real estate fundamentals of Las Vegas and the solid employment base of its Southeast submarket,” said Greg Merage, CEO of Newport Beach, Calif.-based MIG, in a statement. “We will continue to evaluate opportunities within Las Vegas’ growing and economically diverse submarkets.”

Sansone/Pecos II is about one mile from The District, the upscale lifestyle center, four miles from McCarran International Airport and 12 miles from the Las Vegas Strip.

Since 2009, MIG has acquired 20 properties, five of them in the Las Vegas Valley. Focusing on major western markets, the firm has acquired more than $850 million worth of office, retail, hospitality and multifamily assets, according to a company statement.