PR Properties Group of Las Vegas, Nevada

OFFICE PROPERTIES

BUYING
SELLING
LEASING
PROPERTY MANAGEMENT

POCKET LISTINGS

PR Properties Group currently has access to a number of Office Property offerings not available to the general market.

$21,000,000 - 6.8% Cap Rate - 70,000 sf Professional Office Building 100% occupancy
$8,500,000 - 6.8% Cap Rate - 25,000 sf Professional Office Building No. 1
$8,500,000 - 6.8% Cap Rate - 25,000 sf Professional Office Building No. 2
$6,800,000 - 6.8% Cap Rate - 25,000 sf Medical Office Building

The 21st Century workforce is changing the demand for office space, both in terms of size and usage requirements. The scope of the changes that will be caused by this highly independent, diverse and globally distributed group of people are not fully known, but new requirements such as Green certification and Data connectivity are already here. These dynamics are magnified in Las Vegas, which is becoming the Trade Center for the entire world with the World Market Center and coming Jewelry Center. Las Vegas is also a major Data Hub with incredible Fiber connectivity. Owners and developers in Las Vegas must plan ahead for tenants with innovative needs and they must understand the dynamics of our new Las Vegas workforce.

There is a consensus that both the National economy as well as the local economy in Las Vegas is cooling. After a long term bull run in the Office market, it appears that vacancy rates are rising in Las Vegas and that there is an overbuilding of Office space coming online in late 2007 and 2008 that will impact the plans of both buyers and sellers. PR Properties Group is unique in its ability to find rational Office properties in this uncertain financial climate.

The good news however, is that each economic environment offers opportunities to those who pay attention to the details. For example, Cap rates are rising in Las Vegas and are now in the range of 7.0 to 7.5% - good news for those wishing to buy Office properies. But the Cap rate posted in many listings is often the result of projected rather than actual vacancy rates. PR Properties Group prides itself in being able to analyze financial statements to ferret out the True Market Value of Office properties.

On the Seller side, the slowness of the current market can also often be overcome by saavy property management that positions a property for sale at the highest return to the owner, rather than just as a vehicle for churning lease commissions. PR Properties Group is licensed in Property Management and our associates have many years of experience in optimizing leases.

PR Properties Group prides itself on knowing leasing and property management as well as the market for Buying and Selling Office properties in the Las Vegas Valley. Being able to correctly project the value that is created in an Office building by paying attention to the details of Triple Net leases versus Modified Gross Leases, proper lease pricing, Tenant Improvements, rent incentives and other factors can have huge ramifications in the final Net recieved from the eventual sale of a property. Keeping ahead of the Economic trends in Las Vegas as it becomes a world financial hub is important so you do not end up with a lemon that cannot be leased and therfore cannot be sold.

Please contact PR Properties Group for a professional evaluation of your Office Property, whether you are Buying, Selling, Leasing or looking for Property Management.