LAS VEGAS – Las Vegas entrepreneur and LV.Net president Marty Mizrahi is giving a well-traveled Las Vegas building a facelift, thanks to a redevelopment grant from the City of Las Vegas. Mizrahi purchased the former Las Vegas SUN building in 2014 with an SBA 504 loan and is using the redevelopment grant to improve the building’s façade. The 19,000 square foot facility is located at 800 S. Valley View Boulevard.
“We want to maintain the building’s historical value while improving it to meet modern design and technology standards,” said Mizrahi. “It’s great to have a building with this much history in the heart of Las Vegas.” The building was home to the Las Vegas SUN newspaper from 1990 to 2001.
The City’s $50,000 redevelopment grant was directed to upgrade the building’s exterior and install a digital sign. “We tore the old sign down and built a state-of-the-art 45-foot digital LED sign,” said Mizrahi. The $200,000 LV.Net sign is now up and running in front of the building. Exterior upgrades on the building are scheduled to be completed this year.
“We have been upgrading since we took ownership and are currently housing a data center and colocation facilities for our clients there,” said Mizrahi.
LV.Net purchased the building for $1.12 million through an SBA 504 loan program that provides small businesses below-market, fixed rate financing for the acquisition, renovation or construction of commercial real estate. TMC Financing provided the SBA 504 loan and Meadows Bank was the traditional lender for the purchase.
Mizrahi said he originally thought applying for an SBA loan would be a long and arduous process. “This was my first time using an SBA loan, and it was very easy,” he said. “The whole process took 60-90 days.”
LV.Net is a Las Vegas based high speed internet service provider (ISP), and offers colocation, Microwave Fiber Wireless and advanced network services at its four Southern Nevada offices and data centers. The company was founded in 1994 and has been locally owned and operated ever since. For more information, visit www.LV.Net or call 702-900-0000.