Office park sold for $77 million

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Wednesday, April 6, 2005 | 10:59 a.m.

Fremont Properties, a national real estate investment and development firm, purchased the Flynn Gallagher Corporate Centre, a 321,000-square-foot office park on 27 acres in northwest Las Vegas.

The property was purchased from Cheyenne Investments LLC. The purchase price was $77 million, according to the deed filed last week with the Clark County Recorder. The transaction was part of an IRS 1031 exchange, in which proceeds from a recent sale of a San Francisco office building were reinvested, the company said.

The corporate center was completed in 2003 and consists of eight single-story buildings and one two-story building at Cheyenne Avenue and Buffalo Drive.