Las Vegas Raiders HQ Changes Hands – What is a Ground Lease?

, Las Vegas Raiders HQ Changes Hands – What is a Ground Lease?, Robert Khodadadian

1475 Raiders Way. Image via Google Street View

Capital Square has acquired the Las Vegas Raiders’ corporate headquarters and training facility in Henderson, Nev. The company made the purchase on behalf of CS1031 Zero Coupon LV Training Facility, a Delaware statutory trust investment offering which seeks to raise $57.6 million in equity from accredited investors.

The football team has about 26 years remaining on its lease, with seven 10-year renewal options with Raiders Football Club, owner of the National Football League franchise. In a prepared statement, Capital Square Co-Chief Executive Officer Whitson Huffman said that the Las Vegas Raiders team has contributed to the metro’s post-pandemic economic rebound, having earned an enterprise value of $6.5 billion.

In the past year, the Greater Las Vegas area witnessed an increase in investor confidence, with acquisitions poised to capitalize on the rebound of office leasing fundamentals in the Sun Belt.

The 336,000-square-foot, built-to-suit facility was completed in 2020 on a 3.6-acre site and features a three-story, 139,000-square foot office building. The property also comprises a 130,000-square-foot indoor practice facility with full- and half-sized football fields, as well as a 50,000-square-foot performance center with a gym, locker rooms, three outdoor football fields and an outdoor swimming pool.

A growing market

Situated at 1475 Raiders Way and adjacent to Henderson Executive Airport and just off Interstate 15, the property is 10 miles from Harry Reid International Airport and 11 miles from the Allegiant Stadium, where the football team plays. The facility is in proximity of the residential communities of Anthem, Nev. and Southern Highlands, Nev.

Home to market leaders Amazon, Google, Toyota Financial Services, Barclays, FedEx, Levi’s and Ocean Spray, Henderson has diversified its economy through adding new jobs to metro Las Vegas’ inventory. A 2.3 million-square-foot industrial tool manufacturing facility for HAAS Automation, a 600,000-square-foot Amazon distribution facility, along with a $385 million, seven-story tower at the West Henderson Hospital campus, are among the latest additions to the submarket.

The post Las Vegas Raiders HQ Changes Hands appeared first on Commercial Property Executive.

 Investment, Las Vegas, News, Office, West, Capital Square 1031 

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