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Civitas Capital Group, a Dallas-based real estate investment firm, has entered into a sale-leaseback with Credit Union 1 for a 43,000-square-foot Class “A” office building in Henderson.
The property serves as the regional headquarters for Credit Union 1, a credit union with close to $1.2B in assets, as well as Dignity Health, the largest not-for-profit hospital provider in California.
“Our transaction with Credit Union 1 demonstrates our value proposition to the credit union community across the U.S.,” says Austin Khan, Managing Director of Investments for Civitas, who led the transaction along with colleague Jorge Adler. “It highlights our commitment to be the leading provider of sale-leaseback services to the industry as the unique opportunities brought about by changing regulatory and work environments becomes clear.”
Henderson, the second-largest city in Nevada, grew by more than 20% from 2010 to 2020. Amazon recently opened a 60,000-square-foot distribution facility in Henderson, and Google opened a $600-million data center expansion in the area. The Las Vegas MSA has rebounded since the early days of the COVID-19 pandemic, showing 9.7% year-over-year employment growth in Q3 2021.
Source: Civitas Capital Group
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