Southwest Las Vegas Valley to see new office building
Two local developers have teamed up to build an office project in the southwest Las Vegas Valley.
G2 Capital Development, led by owner Frank Marretti, and developer Jeff LaPour’s namesake firm, LaPour Cos., announced this week they plan to break ground Sept. 1 on a four-story, roughly 100,000-square-foot office building called Narrative.
It would be next to credit-card issuer Credit One Bank’s headquarters just south of the 215 Beltway between Durango and Buffalo drives.
The developers said they expect to finish in the summer of 2020.
The southwest has been perhaps the fastest-growing area of the valley in recent years, with developers putting up housing tracts, apartments, retail space and other projects.
It also gets high demand for higher-quality office space.
The southwest valley’s vacancy rate for so-called Class A office buildings – the sort of project G2 and LaPour are developing – was just 1.6 percent in the first quarter, according to brokerage firm Colliers International.
The valley’s overall office vacancy rate last quarter was 12.9 percent, Colliers reported.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.