9-story Las Vegas-owned office building with Hollywood cameo for sale
In the Jamie Foxx crime thriller “Sleepless,” a local office building is shown as the home of the Las Vegas Police Department.
Proper names aside – it’s missing the Metropolitan – and not to mention critics’ scathing reviews of the “listless” and “stylishly hollow” film, the 2017 movie did show a real government building in Las Vegas, albeit not a police one. And now its owner wants a buyer.
The city of Las Vegas announced Thursday that its nine-story office building at 333 N. Rancho Drive, just off U.S. Highway 95 near downtown, is for sale. The former home of Las Vegas’ Development Services Center, it spans 144,000 square feet and features a four-story parking garage, a fitness center and 16 service windows, according to the news release.
The building has an appraised value of $17.3 million, the release noted, well below the city’s $26.5 million purchase price in late 2007, shortly before the real estate market crashed and the economy spiraled down into the Great Recession.
Bill Arent, the city’s deputy director of economic and urban development, told the Review-Journal that the building is essentially vacant. Nearly all of the city workers there have been moved to other locations, and some short-term tenants are in the process of leaving, he said.
According to Arent, the city intends to build a smaller development services center near City Hall and use proceeds from the sale of the Rancho building to fund its construction.
The sale would be subject to City Council confirmation, said Arent, who added that the city is seeking offers and can negotiate exclusively with a buyer, a process he indicated is allowed under state law for economic development purposes.
Arent stated there are no use-restrictions attached to the sale, though city officials don’t expect a buyer to demolish it.
He said that the building – constructed in 1981, county records show — is in good shape and that the city put some “significant money” into renovating it.
“We’ve already had a lot of interest,” Arent said.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.
