Credit One Bank will break ground on its new 152,000-square-foot headquarters in Las Vegas next month, the bank announced today.
The building will sit on 26 acres just south of Interstate 215 between Durango Drive and Buffalo Drive, seven miles from Credit One Bank's existing location on Pilot Road, just south of McCarran International Airport. The building is scheduled to be operational by the end of 2017.
"The significant growth we're experiencing at Credit One Bank requires a new facility to meet the needs of our employees and our card members," said John Coombe, Credit One Bank’s senior vice president of communications, in a press release. "Las Vegas is our home, and we believe the city's commitment to businesses and growth aligns well with our overall strategy and vision."
Credit One Bank employs more than 500 people at its current location. The new campus will provide additional capacity for as many as 500 more technical, analytical and marketing positions to support bank’s credit card business.
Credit One's land purchase closed May 20. The company paid about $20.8 million for its site, property records show, or about $869,000 per acre. By comparison, land investors paid an average of $113,431 per acre throughout Southern Nevada in the second quarter and an average of $463,428 per acre in the southwest valley, according to Colliers. Nearby Ikea, which opened in May, also paid top-dollar for its site — $21.3 million, or about $819,000 per acre.
Construction will be managed by Grand Canyon Development Partners, with Gensler serving as the architect and Burke Construction Group, Inc. as the general contractor.