Stable Development takes ownership of Longford office building

Stable Development announced Tuesday it has officially taken ownership of the 130,000 square foot, four-story Longford medical and professional Class A office building in Las Vegas.

Terms of the deal were not disclosed.

Las Vegas-based Stable Development says it plans exterior and interior renovations. The company will also rename the four-story building at 7455 W. Washington Ave. from Longford Medical to The Parkway, a nod to the Summerlin Parkway freeway it faces.

Stable Development has already secured more than 70,000 square feet of new leases for tenants wanting to occupy the third and fourth floors for their medical practices. The company will add a surgery center and elevator to the west corridor.

“The Longford acquisition gives Stable Development its first presence in Summerlin, which is exciting for us. This premier Summerlin location provides our medical and professional tenants with prime office space to suit their needs,” Lance Bradford, founder and CEO, of Stable Development, said in a statement.

The company also recently broke ground on Building G at the Corporate Center in southwest Las Vegas, which is expected to open mid-February. The building is more than 90 percent leased with a focus on health care. To date, Stable Development has developed more than 350,000 square feet of Class A commercial office space including the Corporate Center, the Coronado Medical Center in the St. Rose/Anthem corridor, and the Seven Hills Business Plaza also in the Seven Hills/Anthem area.