The Siegel Building

3790 Paradise Road, Suite 250, Las Vegas, NV 89169

The Siegel Group acquired two-story mixed office complex totaling approximately 36,000 square feet on Paradise Road in Las Vegas, Nevada that is located directly across from the Wynn Golf Club and the Hughes Center which suffered from substantial deferred maintenance issues and a vacancy rate of 80% due to mismanagement and a challenging leasing environment.  Upon acquisition The Siegel Group initiated a large scale renovation of the property which would serve as the company’s Las Vegas headquarters.

 

Notable improvements and enhancements to the property included:

  • Complete exterior renovation that included redesigned glass entrance way, new roof and HVAC units, stone marble accents, building signage and monument sign, secured parking area with new gate, and constructed Dog Park for tenant use
  • Complete interior renovation included improvements to center atrium and all common areas, new flooring and lighting including accent chandeliers, renovation of four common area bathrooms as well as addition of bathrooms in individual units, elevator remodel, new game room in common area and updated all office doors and hardware
  • Occupied approximately 40% of rental square footage utilized as The Siegel Group’s Las Vegas corporate office
  • Redesigned interior and exterior of property to provide a boutique look and feel
  • Reconfigured office spaces to maximize leasing potential
  • Increased lease rates by 50%
  • Converted property from full service gross to triple net lease agreements