CIP sells 114,500-square-foot Konami Gaming Building
9 May 2012
Konami is expanding operations in Las Vegas and the acquisition made sense, given the company's plans for the building, said Eric Smyth, principal of Irvine, Calif.-based CIP Real Estate.
The property was sold through a joint venture between CIP Real Estate and Buchanan Street Partners. It's the third major commercial transaction for CIP in six months.
CIP sold a 425,000-square-foot industrial portfolio in Hughes Airport Center in December, and the 110,000-square-foot Cox Communications building in November.
The sales totaled more than $62 million. CIP continues to own or manage more than 1.2 million square feet of office and industrial buildings in Hughes Airport Center valued at more than $150 million.
Copyright GamingWire. All rights reserved.