CIP sells 114,500-square-foot Konami Gaming Building

Real estate investment firm CIP has sold the 114,500-square-foot Konami Gaming Building at Hughes Airport Center to Konami Digital Entertainment, the firm announced Tuesday.

Konami is expanding operations in Las Vegas and the acquisition made sense, given the company's plans for the building, said Eric Smyth, principal of Irvine, Calif.-based CIP Real Estate.

The property was sold through a joint venture between CIP Real Estate and Buchanan Street Partners. It's the third major commercial transaction for CIP in six months.

CIP sold a 425,000-square-foot industrial portfolio in Hughes Airport Center in December, and the 110,000-square-foot Cox Communications building in November.

The sales totaled more than
$62 million. CIP continues to own or manage more than 1.2 million square feet of office and industrial buildings in Hughes Airport Center valued at more than $150 million.