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City Pays $26M for County-Leased Building

LAS VEGAS-Clark County occupies two thirds of the leased space in the 140,000-sf building, which the city wants for a new Development Services Department.

By Brian K. Miller | Updated on January 08, 2008

LAS VEGAS-The City of Las Vegas has a new tenant: the county. The city recently paid $26.5 million for a landmark office building on the west edge of the city that is leased substantially to Clark County, according to public records. Located at 333 N. Rancho Dr. and known as the Atrium, the nine-story, 138,500-sf (net rentable) office building abuts the westbound lanes of US 95. Built in 1981, it is by far the tallest building in the area.

The city acquired the building from an entity of Chicago-based GK Development, which purchased the building four years ago for $18.7 million. GK was represented in its sale to the city by Charles Moore and Christina Roush of CB Richard Ellis. Moore tells GlobeSt.com that he listed the building for sale a couple of years ago and found no takers. “We subsequently kept in touch with the city,” he says. “We knew they had an interest.”

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