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On agenda:
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11/5/2024
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Final action:
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11/5/2024
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Title:
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Approve and authorize the purchase of 3351-3371 North Buffalo Drive, Las Vegas, NV 89129 located on Assessor's Parcels Numbers 138-09-801-021 and 138-09-801-024 which consists of a two (2) building ninety-six (96) bed, treatment facility comprised of ?41,976 square feet on ?2.89 acres of fully developed land; fund the purchase price of $13,720,000, $15,000 for closing costs and $6,265,000 for tenant improvements; ratify the appraisal dated August 22, 2024 by Southwest Property Consultants; and authorize the Director of Real Property Management or her designee to sign escrow documents and any other related documents to complete the transaction. (For possible action)
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CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
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Petitioner: |
Shauna Bradley, Director of Real Property Management |
Recommendation:
title
Approve and authorize the purchase of 3351-3371 North Buffalo Drive, Las Vegas, NV 89129 located on Assessor's Parcels Numbers 138-09-801-021 and 138-09-801-024 which consists of a two (2) building ninety-six (96) bed, treatment facility comprised of ±41,976 square feet on ±2.89 acres of fully developed land; fund the purchase price of $13,720,000, $15,000 for closing costs and $6,265,000 for tenant improvements; ratify the appraisal dated August 22, 2024 by Southwest Property Consultants; and authorize the Director of Real Property Management or her designee to sign escrow documents and any other related documents to complete the transaction. (For possible action)
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FISCAL IMPACT:
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Fund #: |
2780.000 |
Fund Name: |
N/A |
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Fund Center: |
1120820001 |
Funded PGM/Grant: |
N/A |
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Amount: |
$20,000,000 |
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Description: |
Purchase price, closing costs and TIs |
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Additional Comments: |
N/A |
BACKGROUND:
On June 3, 2024, the Department of Real Property Management (RPM) submitted a Second Conditional Offer to Purchase 3351-3371 North Buffalo Drive, Las Vegas, NV 89129 (Offer), located on Assessor's Parcel Numbers 138-09-801-021 and 138-09-801-024 which consists of a two (2) building ninety-six (96) bed, treatment facility comprised of ±41,976 square feet on ±2.89 acres of fully developed land.
The Offer was accepted on June 4, 2024 and escrow opened. RPM has completed due diligence inspections, appraisal and ALTA survey.
On October 8, 2024, Amendment I was executed reducing the purchase price to the appraised value of $13,720,000 and extending due diligence and close of escrow. County and Seller shall each pay their normal closing costs at the time of escrow closing.
This item was presented to the County's Long Range Planning Committee on October 23, 2024.
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