Cliffs Professional Center

3425 Cliff Shadows Parkway, Las Vegas, NV, 89129, US

Description

Jones Lang LaSalle Brokerage, Inc. (“JLL”) is pleased to present the exclusive opportunity to acquire the fee simple interest in Cliffs Professional Center (the “Property”), a two- story, 27,474 RSF Class A medical outpatient (never office) building strategically located in the Summerlin submarket of Las Vegas, Nevada. This offering represents a unique opportunity to acquire a newly renovated medical outpatient building anchored by Village MD (subletting to Priority Health Management), and is well-positioned for an investor to fully stabilize the asset in one of Las Vegas’s most established and demographically favorable submarkets.

Fully renovated in 2022, the Cliffs Professional Center offers exceptional amenities such as four exterior balconies, advanced HVAC, and ADA compliant access, along with an abundant parking ratio – 112 total spaces (40 covered), equating to 4.08 spaces per 1,000 SF, significantly above submarket standards. The Property is distinguished by its modern concrete panel construction, prominent glass lines, and architectural detailing that maximize natural light. Designed for high-acuity medical use, the two-story building features a contemporary, adaptable floor plate ideal for either single or multi-tenant configurations, and benefits from significant recent tenant improvements supporting current healthcare operations.

Cliffs Professional Center enjoys a premier location within Northwest Las Vegas, at the base of Lone Mountain in a fully built-out, master-planned community. The site has immediate access to the I-215 Beltway and US-95, connecting rapidly to major employment corridors, leading medical campuses, and new residential developments. The surrounding area boasts a median household income of $94,993 within a three-mile radius, well above the MSA and national averages and continues to see high rates of population growth. Anchored by one of Las Vegas’ strongest healthcare corridors, the Property is surrounded by affluent neighborhoods and benefits from the regional in-migration and sustained demand for quality health services. Currently, the Property is 55% leased to VillageMD, which is subletting to Priority Health Management. VillageMD leases 55% of the property on a NNN master lease through July 2032. The tenant occupies the entire second floor (55% of the RSF) on a net lease lease through July 2032.

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Attributes

Building area net

2,552 m²

Occupancy

68%

Year built

2005

Year renovated

2022

Land area gross

0.8 ha

WAULT

6.4 years

Media

Investment Highlights

High-Quality, Institutional-Caliber Asset

Cliffs Professional Center comprises 27,474 square feet over two stories, originally constructed in 2005 and renovated for modern medical use in 2022. The Property features next-generation medical-grade improvements, advanced HVAC and life safety systems, ADA-compliant access, and robust security integration. Its attractive concrete and glass façade, together with flexible and efficient floorplates, offer abundant natural light and an environment easily adaptable for single- or multitenant medical outpatient use. An above-market parking ratio - 112 total spaces, 40 of which are covered, equating to 4.08 spaces per 1,000 SF - addresses critical healthcare operational requirements and is a notable advantage in this market

Strategic, Connected Location

The Property’s position in the Northwest Las Vegas submarket at the base of Lone Mountain provides direct, signalized access to both the I-215 Beltway and US-95, enabling rapid regional connectivity. Cliffs Professional Center is proximate to major hospitals, new residential developments, and significant employment centers, enhancing both immediate appeal and long-term demand for tenancy. The surrounding neighborhoods are well-established and affluent, with an average household income of $94,993 within a three-mile radius and projected population growth 3x that of the US average. This setting benefits from continued in-migration, robust healthcare and service demand, and sustained infrastructure investment, all key drivers for medical outpatient property performance.

Exceptional Projected Employment and Population Growth

According to Oxford Economics, the Las Vegas MSA has maintained 10-year historical average employment growth of 2.35% per year - more than double the U.S. average of 1.17%. This out-performance is projected to continue, with employment expected to grow at a rate double the national average over the next five years. The Metro has also posted 10-year annual population growth of 1.6% over the past 10 years, compared to the U.S. average of 0.6%. Looking ahead, population growth in Las Vegas is projected to be three times the national average through the next five years.