Southwest Gas buys its headquarters
By Eli Segall, Las Vegas Sun
After spending millions a year on rent, Southwest Gas Corp. has cut a hefty check to become its own landlord.
The Las Vegas-based natural-gas provider bought the bulk of its Chinatown corporate headquarters this month for $16.5 million cash.
The property consists of three main office buildings. Southwest Gas has owned one since it opened in 1988 but had been leasing the others since they opened in 1982.
The purchase should save Southwest Gas money in the long run, as the company had been spending about $2 million a year in rent for the buildings since 2008, said Ken Kenny, vice president of finance and treasury.