SAXA Builds $100M in Office Projects
A recent article in the Las Vegas Business Press reported that in 2007, SAXA Development (formerly Shea Commercial) plans to build $99.5 million worth of office projects in the Las Vegas Valley. A total of 24 buildings totaling 209,280 square feet in 24 buildings were finished in the past week.
Shea at Warm Springs, which sits on 5.5 acres, consists of seven, single-level office buildings with divisibility down to 1,600 square feet. Building sizes range from 4,600 to 7,700 square feet, with asking rents of $2.15 per square foot triple-net and sale prices from $210 to $230 per square foot.
Shea at Spring Mountain, a 47,150-square-foot complex on 4.1 acres, consists of 10 owner-occupied buildings, each 4,715 square feet in size. The project has already sold out. Prices ranged from $200 to $240 per square foot.
Shea at Tenaya Village, a 10-acre, 05,630-square-foot complex of seven office buildings — five one-story and two two-story buildings. It is currently 55 percent pre-sold, with sale prices from $220 to $250 per square foot and asking rents from $2.1