LAS VEGAS– (Realty News Report) – The Howard Hughes Corp. has broken ground on a 10-story office building and a multifamily complex in its Downtown Summerlin development in Las Vegas.
The 22,500-acre Summerlin has strong single-family sales and has ranked in the country’s top 10 best-selling master planned communities for nearly two decades. In the Houston area, Howard Hughes Corp. is developing The Woodlands, Bridgeland and The Woodlands Hills.
The new office building in Las Vegas, called 1700 Pavilion, will be a 267,000-square-foot building situated on just under three acres in Downtown Summerlin.
“Downtown Summerlin’s strong momentum is a reflection of current market trends and consumer preferences for working close to home; an active, outdoor lifestyle; and an amenity-rich, walkable downtown within a natural, open environment,” said Kevin T. Orrock, President, Las Vegas Region, The Howard Hughes Corp.
The office tower will be located directly south of the Las Vegas Ballpark, which is home of the Las Vegas Aviators, the AAA affiliate of the Oakland Athletics.
As the percentage of people across the country looking to relocate continues to rise, Summerlin has been expanding, with thousands of new residents arriving from cities such as Los Angeles and San Francisco over the past 12 months. The region is expected to continue to draw both employers and employees, with an emphasis in technology, e-commerce, sales & marketing, and entertainment.
“Our urban walkability is an attractive amenity for all ages—from millennials to empty-nesters—seeking to customize their footprint while upgrading their lifestyle,” said Orrock.
Suburban office markets have gained attention during the pandemic and in subsequent corporate work-from-home policies.
In Houston, Howard Hughes Corp. reported some recent success in office leasing in The Woodlands. The developer announced six new office leases at both The Woodlands Towers at the Waterway and Hughes Landing in The Woodlands. Notably, Colliers, the commercial real estate brokerage professional services and investment management company, has leased 4,100 square feet of office space at 9950 Woodloch Forest Tower, a Class AAA, 31-story office building. Representatives from Colliers included: Robert S. Parsley, Norm Munoz and Jillian Fredericks. Colliers handles leasing for the former Anadarko tower.
June 14, 2021 Realty News Report Copyright 2021
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Image: Rendering Courtesy Howard Hughes Corp.
File: New Suburban Office Project Underway by Howard Hughes Corp. in Summerlin. Las Vegas.