The seller was Alanda Ltd. At 51,653 sf, the building went for approximately $174.23 per sf. The five-story, class A professional building is located at 5220 Summerlin Commons Blvd.
Colonial Bank occupies 10,000 sf on the first floor of the building and FindWhat.com moved from a 10,000-sf space to a 32,000-sf office space in the building. Publicly-traded FindWhat.com operates a search engine and a pay-per-click service where clients bid for high placement on search engines.
Vacant space in the building consists of 5,655 sf on the second floor and 3,576 sf on the first floor, leaving the building about 82.2% occupied.
"This is a strategic and central location for any image-conscious company that is considering an expansion or relocation," according to commercial real estate advisor Gary Tasman of Grubb & Ellis|VIP. The firm will continue to represent the building for lease and its property management division will manage the building, he adds.
Tasman and Scott Robertson of Grubb & Ellis|VIP negotiated the sale.
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