IGT is renting the building on a 15-year lease with annual rent hikes, said broker Kevin Shannon of Newmark Grubb Knight Frank, who worked on the deal. According to brokerage firm Colliers International, investors are paying an average $93 per square foot this year for Las Vegas-area office buildings. Moreover, the sale amounts to $299 per square foot. The campus also includes industrial space that Panattoni apparently still owns. It’s now flipped a 12.7-acre portion for almost 89 percent of its original purchase price, county records show. The seller, Panattoni Development Co., bought IGT’s roughly 38-acre campus, including 4.5 acres of vacant land, in December for $75 million. The sale closed Tuesday, Clark County records indicate, and it’s a lucrative deal in more than one way. this week bought International Game Technology’s three-story, 222,268-square-foot office building at Buffalo Drive and Post Road for $66.5 million. Southern California investors have bought a slot machine company’s offices in southwest Las Vegas, paying more than triple the average rate for a local office property. Buffalo Drive in Las Vegas on Tuesday, Aug. IGT corporate headquarters is seen at 6355 S.
