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Marnell Sells Three Office Buildings for $54M

LAS VEGAS-Odyssey Real Estate Capital and Crow Holdings pay $312 per sf for a stabilized three-building portfolio within Marnell Corporate Center.

By Brian K. Miller | Updated on January 14, 2008

LAS VEGAS-Marnell Properties LLC has sold three buildings at Marnell Corporate Center for $54.05 million or $312 per sf, according to county property records. The new owner is a partnership of Odyssey Real Estate Capital LLC and Crow Holdings.

Odyssey Real Estate Capital LLC is a newly formed Henderson-based group of former Centra Properties executives. Crow Holdings is the Dallas-based investment manager for the Trammell Crow family and its investment partners. Marnell Properties is the real estate division of locally based Marnell Corrao Associates.

Marnell Corporate Center is located adjacent to the intersection of Interstate 15 and I-215 and to McCarran International Airport. The three buildings that changed hands are MCC-3, a three-story, 68,454-sf building that is 100% leased; MCC-4, a four-story, 93,675-sf building that also is 100% leased; and MCC-6, a 14,831-sf building that is 85% leased.

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