The Investment Services Group of LOGIC Commercial Real Estate has been exclusively retained to offer qualified investors the opportunity to acquire a mission-critical single-tenant office investment leased to MGM Resorts International. MGM Resorts International occupies 100% of the building and has been a tenant since 2014. 880 Grier is a 81,000 SF two-story office building located on 5.54 acres within the MGM office campus. The Property boasts a prime location near major highways I-15 and I-215, with frontage along Grier Dr., directly across from Harry Reid International Airport, which saw a record-breaking 57.6 million visitors in 2023.
MGM is a multi-billion-dollar S&P 500 gaming and entertainment company headquartered in Las Vegas with 31 hotels worldwide, including 12 on the Las Vegas Strip. They are the world's largest publicly traded gaming company with $17.05B sales in the last year. MGM recently executed a 5-year lease renewal at the Subject Property which extends the lease term through August 2029 with 3% annual increases. The tenant recently consolidated some of their operations into the Subject Property making it a mission critical location. MGM owns two other office buildings (totaling 93,172 SF) and two large parking parcels in this park demonstrating their commitment to this location for their corporate operations.
Link to OM: https://logiccre.com/1031_properties/sp-500-global-gaming-entertainment-company-office-investment/