Triad Development fills market niche

Triad Development offers business professionals an opportunity to purchase -- rather than lease -- office space in a master-planned setting.

J. Christopher Stuhmer, a company principal, said ownership is a cost-effective alternative to leasing.

"The price point and financing options can create a debt service that is less than rent," Stuhmer said. "There are also associated benefits such as tax advantages, depreciation benefits, equity-building potential, the opportunity to buy a large enough facility for future growth, and perhaps gain some sheltered income by leasing out a portion of the building."

Triad is selling single-story offices in its Mountain View Professional Park in northwest Las Vegas. The 7.5-acre complex is under construction in the Las Vegas Technology Center, near Smoke Ranch Road and U.S. Highway 95.

"When we researched this area of the valley, we found that there were no opportunities for professional business owners requiring 4,500 to 15,000 square feet to own an office building within a master-planned business park, (a location that) adds tremendous value as owners typically realize better long-term investment protection, less expensive operating costs and other related benefits," Douglas Crook, managing director at Triad, said.

First occupancy is expected in September.

"Conventional and SBA financing is available, and at current rates you could own a completely finished 4,500-square-foot building for a before-tax payment as low as $6,400 per month, which translates to an after-tax payment of about $3,100," Crook said, citing figures based on a 25-year loan with a down payment of 20 percent and a sales price of approximately $1.15 million.

The developer is in the process of finalizing sales contracts with four prospective buyers at Mountain View Professional Park, and is accepting sales in phase two, which will feature 20,000- to 50,000-square-foot buildings fronting U.S. Highway 95.

Triad Development is a partnership of Stuhmer, Mark Fine and Scott Godino.

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