Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Rainbow Center, a 15,011 square-foot office property located in Las Vegas, NV, according to Justin C. White, regional manager of the firm’s Las Vegas office. The asset sold for $1,250,000.
Tina D. Taylor, Vice President Investments, and Tim Erickson, an investment specialist in Marcus & Millichap’s Las Vegas office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.
Rainbow Center is located at 1801 South Rainbow Boulevard in Las Vegas, NV. The property is ideally located along South Rainbow Boulevard at Oakey, one of the busiest corridors in Las Vegas with traffic counts exceeding 49,000 vehicles per day. The two story building consists of second story office and first floor retail space. There is an exterior elevator and an interior corridor for the office space. The buyer was a local investor coming out of an exchange and paid all cash for the property.
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With more than 1,000 investment professionals in offices nationwide, Marcus & Millichap Real Estate Investment Services is the largest firm specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 6,149 transactions in 2012, the highest of any commercial real estate brokerage firm. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology and relationships with the largest pool of qualified investors nationally.
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