CORFAC News

Contact: 
Judith Brower
(949) 955-7940
JQuader@browermillercole.com

Las Vegas, NV (November 26, 2012) – Voit Real Estate Services/CORFAC International has procured the $7 million sale of Decatur Crossings III, a 112,304 square-foot mixed-use property in Las Vegas, Nev. on behalf of the buyer, Ready Mix Opportunity Group LLC. This well located project, which consists of two, two-story office/flex buildings, was approximately 40 percent occupied at the time of purchase.

Kevin Higgins and Garrett Toft of Voit’s Las Vegas office worked closely with Darren Tappen of Voit’s Phoenix office to represent the buyer, Ready Mix Opportunity Group LLC in this “off market” transaction. The seller, Next Gen Fund 5, LLC, represented itself in the transaction. 

“The success of this deal speaks to our ability to locate investment opportunities for our clients in a supply constrained investment market. Buyers are looking for strong, value-add investments which can be well-positioned to attract new tenants,” explains Higgins.

“This property presents an enormous potential to add value. The buyer’s basis will enable them to attract quality tenants faster than the competition. In fact there was significant leasing activity on the shell space prior to the close of escrow,” explained Toft.  “The location, product type and timing were very appealing to us and we were able to move quickly to close to meet the seller’s needs.

“Voit did a great job for us on this transaction,” according to Jeff LaPour, a principal of RMOG LLC.

According to Darren Tappen, this transaction was a great example of the synergies between the regional Voit offices in action.  There were a number of individuals that all brought different skill sets to table and made this deal happen.

The property is located at 4675 and 4775 West Teco Avenue in Las Vegas, Nev.

About Voit Real Estate Services/CORFAC International
Voit Real Estate Services is now a 10 office commercial real estate firm that, through its brokerage and asset services professionals working together, provides strategic property solutions tailored to clients' needs. Combining 40 years of expertise in brokerage, investment advisory, financial analysis, market research, asset management, tenant advisory and property management services, Voit provides clients with forward looking strategies that create value for their assets and portfolios.

Voit is a privately held, debt-free firm that has successfully navigated numerous market cycles since 1971 and currently employs more than 250 people. Voit has owned, developed and managed over 50 million square feet of commercial real estate, participated in $1.4 billion of construction projects and completed over $36 billion in brokerage transaction volume. Further information is available at www.voitco.com.

Voit is an affiliate of CORFAC International (Corporate Facilities Advisors, Inc.), one of the largest commercial real estate services organizations in the world and founded in 1989. For more information on CORFAC, contact 703.532.6160 or visit www.corfac.com.