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204,000-SF Office Building Trades for $74M

LAS VEGAS-The six-story class A building is net leased to Sierra Health Services for 10 years. The new owner is Triple Net Properties. The seller is a subsidiary of Health Care Property Investors.

By Brian K. Miller | Updated on July 26, 2006

LAS VEGAS-A 204,000-sf class A office building here has changed hands for between $74 and $75 million, according to local industry sources. Located at 2716 N. Tenaya, the six-story building is net leased by Sierra Health Services. Industry sources say the lease runs into 2016.

The seller is a subsidiary of publicly held Health Care Property Investors of Long Beach, CA. The new owner is Triple Net properties, a Santa Ana, CA-based tenant-in-common syndicate. The sale closed Tuesday.

The property was constructed in 1998. The office building is a central component of the Sierra Health Services’ corporate headquarters campus and is connected to another building that houses Sierra’s executive operations, which Sierra still owns.

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